VANCOUVER, BRITISH COLUMBIA – Vancouver, British Columbia, | May 18th, 2022 – Green Battery Minerals inc. (the “Company”) (TSXV: GEM) (OTC: CZSVF) is pleased to provide initial results from 11 diamond drill holes that were completed as part of the Company’s successful resource infill and expansion drilling at the Berkwood Graphite Project, situated 280 km north of Baie-Comeau, Quebec.
Tom Yingling, President and CEO of Green Battery states “I am very pleased to report that the fifth drill program on Zone 1 continued to have success. Having drilled several holes that have graphite intersections ranging from 150 feet to over 200 feet (46-62 m) is outstanding. Zone 1 already has a current resource estimate of indicated (1.76 Mt @ 17% Cgr) and inferred (1.53 Mt @ 16.4 Cgr) graphite and this drill program was designed to increase that. These new drill holes will be added to our current 3-D model and used to pinpoint the next drill locations planned for this July. July’s drill program will be designed to explore and develop our newly discovered Zone 6 graphite outcrop and is also planned to expand the resource on Zone 1.”
The program which was commenced on 1st April 2022 was completed for a total of 11 holes and 1,152 meters. Significant intersections of graphite enrichment were encountered in the hinge zone of the syncline where the predominance of the existing resources occurs, these intersections are anticipated to improve resource confidence in the core of the deposit. All11 holes intersected graphite enrichment. Some of the significant intersections include:
- 62 m of graphite enrichment from 47 m in BK1-51-22
- 50 m of graphite enrichment from 50 m, and further 18 m from 27 m in BK1-52-22
- 46 m of graphite enrichment from 66 m in BK1-47-22
- 37.9 m of graphite enrichment from 42.1 m in BK1-46-22
- 36.1 m of graphite enrichment from 72.9 m in BK1-50-22
- 36 m of graphite enrichment from 54 m, and 9.5 m from 99.5 m in BK1-53-22
Table 1: Summary of Zone 1 graphite enrichment intersections
The above intervals are drilling lengths, not true widths, because the true orientation of the enrichment horizons has not yet been established.
The infill drilling focused on the core of the syncline at the west of the deposit area, infilling at the ‘nose’ of the syncline continued to produce wide intersection in, and adjacent to areas of known graphite enrichment. Step out drilling along the southern limb of the of the interpreted fold structure was completed and graphite enrichment encountered suggest additional structural controls disrupt the continuity of the enrichment horizon to the east. This distribution is broadly coincident with the magnetic anomaly, the company intends to complete additional structural mapping followed by further confirmation drilling in Q2/Q3 of 2022.
Figure 1: Zone 1 Drill hole locations and down-hole traces.
Table 2: Summary of drill hole locations and down hole specifications.
Clarification on qualified person for May 6, 2022, news release.
The company wishes to clarify it’s disclosure made in a news release on May 6, 2022 titled “Green Battery Minerals Receives Assays from Drilling into Graphite Outcrop on Zone 6. Intersecting 28.48 meters of 28.37% Grade Graphite. Proving Our Concept that Our Graphite Is Open to Depth”. The qualified person that reviewed the release is Luke van der Meer (P.Geo) and not Alexander Beloborodov (P.Geo). Most sincere apologies are given for the misrepresentation of Mr. Beloborodov.
About the Berkwood Graphite Project
The Berkwood Graphite Project is located within the jurisdiction of Quebec, in the Manicouagan Regional County Municipality, three hours driving time from the city of Baie-Comeau. Easy access is provided via a major secondary road and numerous tertiary and forest roads that traverse the property.
The Zone 1 deposit lies 8 km southwest of Mason Graphite’s deposit which is the subject of a current feasibility study. The Company believes its Zone 1 deposit and that of Mason share many similar geological characteristics with the Zone 1 deposit being one of the highest-grade graphite deposits in the world.
The current mineral resource at the Berkwood Graphite Project includes in-pit constrained resource totalling 1,755,300 tonnes of indicated resources at 17.00 % Cgr and 1,526,400 tonnes in inferred resources at 16.39 % Cgr.
Table 3: In-pit Resource at Lac Gueret South Project (rounded numbers)
The mineral resource estimates above are described in the technical report entitled, NI 43-101 Technical Report Mineral Resource Estimate on the Lac Gueret South Graphite Property, Quebec, Canada. With an Effective date of June 19th, 2019, dated June 30th, 2019, by Edward Lyons, PGeo., Florent Baril, ing., and Claude Duplessis, ing. Link to Report:
Qualified Person: Luke van der Meer (P.Geo) is a Qualified Person (“QP”) as defined by National Instrument 43-101 guidelines, and he has reviewed and approved the technical content of this news release.
About the Company: Green Battery Minerals is managed by a team with over 150 years of collective experience with a proven track record of not just finding numerous mines but building and operating them as well. The Green Battery Minerals management team’s most recent success is discovering the Berkwood graphite deposit in Northern Québec. Green Battery Minerals owns 100% of this asset and the Company’s shareholders will benefit from this asset as the demand for graphite for electric vehicles increases significantly.
On Behalf of the Board of Directors
Green Battery Minerals lnc.
President, CEO & Director
FOR MORE INFORMATION, PLEASE CONTACT:
Disclaimer for Forward-Looking Information:
Certain statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include that the Company will carry out the drill program described in this news release, conduct the Offering and expend funds on Berkwood Graphite Project exploration. It is important to note that the Company’s actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include that further permits may not be granted timely or at all; the mineral claims may prove to be unworthy of further expenditure; there may not be an economic mineral resource; methods we thought would be effective may not prove to be in practice or on our claims; economic, competitive, governmental, environmental and technological factors may affect the Company’s operations, markets, products and prices; our specific plans and timing drilling, field work and other plans may change; we may not have access to or be able to develop any minerals because of cost factors, type of terrain, or availability of equipment and technology; and we may also not raise sufficient funds to carry out our plans. Additional risk factors are discussed in the section entitled “Risk Factors” in the Company’s Management Discussion and Analysis for its recently completed fiscal period, which is available under Company’s SEDAR profile at www.sedar.com. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect. Except as required by law, we will not update these forward-looking statement risk factors.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.