Battery Mineral Resources Corp. Awards Key Contracts for Drilling Program and Restart Plan at Punitaqui Mine in Chile
Vancouver, British Columbia--(Newsfile Corp. - July 7, 2021) - Battery Mineral Resources Corp. (TSXV: BMR) ("Battery" or the "Company") is pleased to announce that its wholly-owned subsidiary Minera BMR Chile has awarded the three key contracts to support the execution of the Punitaqui mine drilling program and technical report. JDS Energy and Mining Inc. ("JDS") has been appointed to author the Punitaqui mine technical report and is responsible for oversight of the study - the conclusion of which will be the basis for the decision to proceed with a production re-start for the Punitaqui copper-gold mine. Its anticipated it the report could be filed in approximately six to eight months.
JDS has a proven track record providing clients with fit-for-purpose solutions and value delivery and has acquired a reputation for delivering and executing project plans on budget, on time, and most importantly, safely.
In addition, local company South Pacific Drilling SPA ("SPD") has been awarded the exploration and in-fill drilling contract, which includes up to 6,000 meters of both core and reverse circulation surface drilling. Knight Piesold ("KP") had been chosen to oversee the progress of the tailings dam development plans with the detailed planning being performed by RV Engineering Associates ("RVIA"), a local geotechnical firm who is a pioneer in filtered tailings facilities in Chile. SPD, KP and RVIA have extensive experience in their core businesses and share a proven ability to safely perform well under a variety of conditions.
These appointments establish a key milestone in the Company's Punitaqui mine development strategy by employing strong expertise in engineering, exploration drilling, permitting and tailings impoundment design and operations, in order to advance the Punitaqui Mine project towards a production re-start decision.
The company is also pleased to announce the hiring of Mr. Jacob Willoughby of Toronto for the newly created position of Vice President of Corporate Development and Strategy. Mr. Willoughby is a geologist and MBA graduate and has been working in mining capital markets since 2004. He has over eight years of experience as a mining analyst covering base and precious metals, coal, uranium, fertilizes and rare metals while working in Toronto. Most recently he was Vice President of Research and Analyst covering over 30 issuers at a boutique mining securities firm in Toronto. Jacob also has experience as a President and director of a junior mining company that focused on base metals with assets in Turkey and Papua New Guinea. Initially, he will focus on supporting the company's aggressive growth strategy, engaging with current and potential future shareholders, research analysts, investment bankers and consultants, while also supporting the efforts of the company's CEO, Martin Kostuik.
Commenting on these important developments, Mr. Kostuik stated, "We are very pleased to have attracted these quality contractors and consultants to kick off the progression of the Punitaqui copper-gold mine so soon after the private placement and acquisition. As for the appointment of Jacob, we look forward to his energy and knowledge in support of the actions we are taking in evaluating next steps for the growth of the company as we strive to become a near-term and premier supplier of battery metals to the market."
About Battery Mineral Resources Corp.
Battery is a multi-commodity resource company which provides investors with exposure to the world-wide trend towards electrification. Battery is engaged in the discovery, acquisition, and development of battery metals (cobalt, lithium, graphite, nickel & copper), in North and South America and South Korea with the intention of becoming a premier and sustainable supplier of battery minerals to the electrification marketplace. Battery is the largest mineral claim holder in the historic Gowganda Cobalt-Silver Camp, Canada and continues to pursue a focused program to build on the recently announced, +1 million pound cobalt resource at McAra by testing over 50 high-grade primary cobalt silver-nickel-copper targets. In addition, Battery owns 100% of ESI Energy Services, Inc., a pipeline equipment rental and sales company with operations in Leduc, Alberta and Phoenix, Arizona. Finally, Battery is currently developing the Punitaqui Mine Complex, and pursuing the potential near term resumption of operations at the prior producing Punitaqui copper-gold mine. The Punitaqui copper-gold mine most recently produced approximately 21,000 tonnes of copper concentrate in 2019 and is located in the Coquimbo region of Chile.
For further information, please contact:
Battery Mineral Resources Corp.
Phone: +1 (604) 229 3830
Scientific and technical information pertaining to the cobalt resource at McAra was extracted from the Company's NI 43-101 "Technical report on Cobalt Exploration Assets in Canada" dated as of May 26, 2020 with an effective date of March 31, 2020, prepared by Glen Cole (P. Geo) of SRK Consulting (Canada) Inc.
The securities offered pursuant to the Private Placement have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections of the Company on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability of the Company to obtain sufficient financing to complete exploration and development activities, risks related to share price and market conditions, the inherent risks involved in the mining, exploration and development of mineral properties, government regulation and fluctuating metal prices. Accordingly, readers should not place undue reliance on forward-looking statements. Battery undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law.
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/89704
News Provided by Newsfile Corp.