Green Battery Receives All Permits for Berkwood Graphite Drill Program
2021-10-20 12:11 ET - News Release
Mr. Tom Yingling reports
GREEN BATTERY RECEIVES BERKWOOD GRAPHITE DRILL PERMITS
Green Battery Minerals Inc. has received all permits for its coming drill program scheduled to commence at the end of October, 2021. Drilling contractors have confirmed availability and are preparing to mobilize. The drill program is designed to complete up to 5,000 metres at Green's road-accessible Berkwood graphite project located in Northern Quebec, Canada. Flagging, line cutting and road building will commence forthwith. Drilling will focus on the zone 6 prospect, and furtherance of the zone 1 resource (refer to news release of Aug. 19, 2019). The program has been designed by the company's board of directors and technical advisers. Longford Exploration co-ordinates the fieldwork and synchronizes the program, as it has successfully done in all of the company's previous drill programs.
In the summer of 2019 (pre-COVID), Green Battery's technical team visited the Berkwood property and conducted a detailed survey of the selected drill locations to determine the best roads and trails to be used or opened and to locate appropriate sources for water for the drill program. The team also channel sampled new undrilled graphite outcrops that were completely exposed at the surface, and test results proved numerous areas with high-grade graphite with excellent metallurgy (see the news release of Oct. 1, 2019).
Chief executive officer Tom Yingling states: "I am very pleased to have the drill permitting process completed. We have a very exciting drill program designed. Drilling zone 1 for the fifth time could add significantly to the company's resource size. All of the drillings are low-risk stepout and infill drilling from previous successful drill holes designed to add to the company's already established resource. All of the previous drill programs and the upcoming one are supported by a very distinct geophysical anomaly that has proven successful in drilling into graphite with every hole. I am pleased to finally drill zone 6 as it has returned good graphite from its outcrops and channel samples; we need to drill to determine the shallow subsurface potential. The geophysical anomaly used to initially target, discover and sample it indicates it has the potential to comprise a large, shallow graphite occurrence."
The drill program this winter aims to accomplish three goals.
1. The first objective is to conduct stepout and infill drilling designed to potentially increase the already established resource on zone 1 (see news release dated Aug. 19, 2019). Having hit graphite in every hole drilled to date on zone 1, this is not an exploratory program but rather completely designed with the intent of increasing the companies resource size.
2. The second objective is to drill zone 6. The company is fortunate that the graphite structure on its property bends and folds and causes numerous outcrops. On zone 6 there are many large outcrops that have never been drilled before. Geophysics indicates that zone 6 is a large body and channel samples from seven outcrops from the zone have already proven that this body is not only graphitic, but that it contains extremely high-grade graphite with excellent metallurgy. Having surface sampled the zone 6 drill locations, and proven there is graphite there already, mitigates much of the risk going into this drill program.
3. The third objective is to use these drill results to further the company's preliminary economic assessment (PEA). PEAs include information on mineral project economics at various metal/mineral prices. This PEA will include an estimated NPV (net present value) of the resource and an estimated IRR (internal rate of return) (see news release dated May 20, 2021).
Green Battery Minerals Inc. controls a road-accessible graphite resource located in Northern Quebec. The uniqueness of the company's graphite is what makes it different from many other of the world's graphite deposits. Over the past five years, the company has discovered and developed its Berkwood graphite project, which has extremely high grades and extremely large flake sizes compared with other world graphite sources. These characteristics allow the company to use a cleaner and greener purification process that reduces the use of hazardous materials (see news release dated Feb. 7, 2019, and Aug. 27, 2019).
Zone 6 geophysical anomalies represent a large outcropping graphitic body that has returned excellent high-grade graphite with excellent metallurgy.
The company's graphite is outcropping on the surface, which means there would be less waste rock removal and less disruption of the earth, as well as ready reclamation back to its natural state. These qualities increase the economics of the project significantly and allow the company to maintain its environmentally friendly business model. Green Battery is also pleased to state that the company will benefit from existing extensive infrastructure, including hydroelectric power, year-round maintained highways and a local skilled workforce. All of the company's properties are road-accessible to drive to, and there is accommodation in proximity. All these factors help make the company's program greener and cleaner, and maintains the company's strong ESG (environmental, social and governance) mandate.
Qualified person
Dave Kelsch, PGeo, is a qualified person 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 collectively with a provenk record of not just finding numerous mines but building and operating them too. The Green Battery Mineral management team's most recent success is discovering the Berkwood graphite resource in Northern Quebec. Green Battery Mineral owns this asset 100 per cent, and the company's shareholders will benefit from this asset as the demand for graphite for electric vehicles increases significantly.
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