- Battery Mineral Resources Corp. (BMR) discovers encouraging drill results at the Punitaqui mine in Chile
- Significant visual copper mineralization has been recorded in 17 of the first 29 holes
- The new target is largely untested but shows potential for an additional source of copper mineralization
- Punitaqui is scheduled to resume copper concentrate production in Q4 2022
- Battery Mineral Resources Corp. (BMR) is unchanged trading at $0.34 per share as of 11:10 a.m. ET
Battery Mineral Resources Corp. (BMR) has reported encouraging assay results from the extending targets at the Punitaqui mine in Chile.
With the Phase 1 drill programs at San Andres and Dalmacia completed, the drilling focus has shifted to Cinabrio Norte with three diamond drills in operation.
The Cinabrio Norte target represents a potential northern extension of the main mine orebody.
29 holes have been completed at the Cinabrio Norte target covering 6,192 metres and drilling is ongoing with three drills. Significant visual copper mineralization has been recorded in 17 of the completed holes.
The initial phase 1 program has been expanded from 24 holes to 48 holes, totalling 9,000 metres.
Battery Mineral Resources CEO, Martin Kostuik commented on the results.
“These initial step-out drillhole results at the Cinabrio Norte target have confirmed the strike and down dip extent and thickness of the Targeted Stratigraphic Unit, as well as the fact that it hosts significant copper sulphide mineralization.”
Cinabrio Norte is north of the original Cinabrio deposit which was the source of copper feed to the Punitaqui mill for more than eight years. The new target is largely untested but shows potential to provide Battery Mineral Resources with an additional source of copper mineralization for the Punitaqui processing plant.
The development of restarting Punitaqui is progressing well for drilling, engineering, and permit modifications.
Punitaqui is scheduled to resume copper concentrate production in Q4 2022.
Battery Mineral Resources Corp. (BMR) is unchanged trading at $0.34 per share as of 11:10 a.m. ET.