Green Battery Minerals Inc. announced assay results from its drilling program conducted at Zone 6 on its Berkwood graphite property in Quebec. The program was designed to follow up on surface work conducted over the target area last summer (see February 16, 2023 news release) and was successful in intercepting graphite mineralization at depth over the previously defined 600m of strike length with a total of 20 holes and 2058m drilled.
Tom Yingling, President and CEO of GEM commented: “We continue to produce excellent drilling results, not just in terms of composition but also in terms of quality. With only about 10% of our property fully explored, we already have 550,000 tonnes (inferred + indicated) graphite resource and these new results will add to that. As we work towards delivering a PEA, we are more than encouraged by our exploration results. With billions being invested in battery plants throughout North America, it is of crucial importance that the critical minerals needed to meet demand are available. That is what GEM is doing, ensuring LIB manufacturers will have a high quality, North American source of graphite. We are positioned well and with more results to come out over the coming months, we are confident of generating substantial additional value, especially considering the $3.5 billion NPV our neighbors (Nouveau Monde, TSXV:NOU) have produced on the back of their fully explored property.”
Tom Yingling, President and CEO
The headline intercept was drilled down dip out of an abundance of curiosity on the most impressive outcrop. Typical high-grade intercepts were approximately 4.0m long at close to true thickness with other minor intervals present throughout. Intercepts and collars are presented in Tables 1 and 2 below:
Figure 4: Drilling and surface work on Area 4.
The core of the fold nose and the north limb of the structure, representing 1000m of strike length, remain untested and will require more aggressive earthworks to properly evaluate.
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 Nouveau Monde’sdeposit which has a $3.5 billion NPV on it. The Company believes its Zone 1 deposit, and that of Nouveau Monde, 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 totaling 1,755,300 tonnes of indicated resources at 17.00 % Cgr and 1,526,400 tonnes in inferred resources at 16.39 % Cgr.
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 30th, 2019, by Edward Lyons, PGeo., Florent Baril, ing., and Claude Duplessis, ing.
Qualified Person: Mr. 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.
‘Thomas Yingling’
President, CEO & Director
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.
