Nov. 4th , 2022 – Green Battery Minerals Inc. (the “Company”) (TSX-V: GEM) is very pleased to announce it has acquired the “Boudrias Property” located (50 km) northeast of Baie Comeau, Quebec.
- Road Accessible, approximately 50km from Baie Comeau northeast along highway 138 which passes through the property. Power transmission lines also cross the property and local site access is gained by established access trails.
- The Boudrais property is located within the Grenville geological sub-province, within a favorable host rock of the Bourdon paragneiss Complex. The acquired claims are located over regionally elevated geochemical signature for Cu+Ni+Co.
- Two known Cu-Ni showings of probable magmatic origin are known on the property: these are coincident with regional scale linear structural features with intersecting secondary structures at the loci of mineralization. Interpreted magnetic signatures coinciding with topographic features suggest a deep-seated origin for the structures.
- In consideration for the Boudrias Properties, the Company has agreed to issue to the property vendor a warrant to purchase up to 2,000,000 common shares, exercisable at the price of $0.06 per share for three years.
- The agreement was signed November 2nd, 2022, it is an arm’s length transaction and there are no finders’ fees payable.
- The issuance of the warrant is subject to regulatory approval.
About the Boudrias Project
Target Commodities: Copper, Cobalt, Nickel
- Target Deposit Style: Magmatic Sulphide
- The Boudrias property is located within the Grenville geological sub-province, within favorable host rocks of the Bourdon paragneiss Complex. The region is relatively underexplored with poorly understood geology.
- The Property contains favorable relatively small intrusions of mafic or ultrabasic host rocks commonly ranging from gabbro, gabbronorite to pyroxenite to anorthosite.
- The acquired claims are located over regionally elevated lake sediment geochemical anomalism for Cu+Ni+Co. Additionally recent regional rock sampling of prospective mafic intrusive in the area identifies coincident Cu+Ni+Co anomalism proximal to the project.
- Two known Cu-Ni showings of probable magmatic origin are known on the property: Boudrias 1 and Boudrias 5 are described as disseminated (2-5%) pentlandite-pyrrhotite .
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.
Mineral Resource Estimate
- The mineral resource estimates 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