- Battery Mineral Resources Corp. (BMR) has announced a C$0.8 million non-brokered flow-through private placement
- The company will use the proceeds to incur qualifying exploration expenditures on its Cobalt District Exploration Project in Ontario
- This includes sampling, mapping, assaying and up to 3,000 m of core drilling
- Battery Mineral Resources provides exposure to global trends towards electrification
- Battery Mineral Resources Corp. (BMR) is down by 7.14 per cent and is currently trading at $0.65 per share
Battery Mineral Resources Corp. (BMR) has announced a C$0.8 million non-brokered flow-through private placement.
The company will issue up to 1,025,641 common shares priced at $0.78 per share.
Proceeds will be used to incur qualifying exploration expenditures on its Cobalt District Exploration Project in Ontario. This includes sampling, mapping, assaying and up to 3,000 m of core drilling to extend its Northern Ontario Cobalt exploration program. In particular, exploration will focus on Gowganda, Elk Lake, Wilder and McAra.
In Gowganda, specifically Gowganda East, drilling will target the horizon in the Diabase upper contact along the eastern limb of the Nipissing Diabase Sill. Historically, this contact was the Gowganda Mining Camp’s principal ore host, which produced 60.1 million ounces of silver and 1.3 million pounds of cobalt from 1910 – 1989.
In addition, 3D-IP surveys at Gowganda East have identified several high-chargeability anomalies which could be indicative of sulphide mineralization, as well as a number of chargeability lows interpreted as potential alteration zones.
The company expects the offering to close on or about August 31, 2021.
Battery Mineral Resources is a multi-commodity resource company that provides exposure to global trends towards electrification.
Battery Mineral Resources Corp. (BMR) is down by 7.14 per cent and is currently trading at $0.65 per share as of 11:26 am ET.