Bathurst Metals adds Palladium, Platinum Property, Options Set
Vancouver, November 05, 2020 - Bathurst Metal Corp. (TSXV:BMV.H) ("Bathurst" or the "Company") is pleased to announce the acquisition of the Speers Lake Project by the physical staking of the FF-1 mineral claim covering 875 Ha. The company's 100% owned property is located approximately 100 km south of Kugluktuk in Nunavut. Company President/CEO, Harold Forzley stated "We are very pleased to add the Speers Lake property to our project inventory in Nunavut along with the Turner Lake, Gela Lake and McAvoy projects". Speers Lake Pd/Pt/Au/Cu/Ni Project - Nunavut
The company's Speers Lake Project covers known Copper, Nickel, Palladium, Platinum and Gold mineralization within or along the contact of the Proterozoic Layered Muskox Ultramafic Intrusive (LMUI) in western Nunavut.
The region has received only sporadic, systematic exploration since its first discovery and exploration by Inco in the late 1950's. Additional systematic exploration was not conducted again until the 1980's and in 1999 to 2007. Several geochemical, geophysical, geological mapping and limited diamond drilling had been undertaken on the property with these studies being able to define at least two sulphide pulses associated with the emplacement of the LMUI. These pulses both contain high nickel and copper concentrations with associated precious metals. Listed below are some of the more significant precious and base metal assay results from historical geochemical rock sampling and diamond drilling.
Historical Rock Geochemistry - Grab Samples
----------------------------------------- |Pt |Pd |Au |Cu |Ni | |---------------------------------------| |(g/tonne)|(g/tonne)|(g/tonne)|(%) |(%) | |---------------------------------------| |0.87 |5.48 |5.0 |3.50|0.18| |---------------------------------------| |2.55 |3.43 |2.0 |0.45|0.24| -----------------------------------------
Historical Surface Chip Sampling
-------------------------------- |Pd |Pt |Au |Length| |------------------------------| |g/tonne|g/tonne|g/tonne|Metres| |------------------------------| |42.24 |2.26 |6.79 |0.76 | |------------------------------| |58.09 |6.04 |5.66 |0.43 | --------------------------------
*Length is surface expression exposed, true thickness is unknown.
Historical Diamond Drilling - Diamond Drill Hole 87-S10 Assay Results
----------------------------------------------------------------- |FROM |TO |THICKNESS|Pt |Pd |Au |Cu |Ni | |---------------------------------------------------------------| |(m) |(m) |(m) |(g/tonne)|(g/tonne)|(g/tonne)|(%) |(%) | |---------------------------------------------------------------| |94.40 |95.10 |0.70 |1.94 |38.45 |6.03 |1.18|3.89| |---------------------------------------------------------------| |107.23|107.63|0.40 |5.57 |52.71 |1.41 |0.22|3.79| -----------------------------------------------------------------
*Thickness is core length, true width is unknown.
Figure #1- Projects 100% owned by Bathurst Metals Corp.
Bathurst Metals Corp. 100% Owned Properties
Figure # 1
Click Image To View Full Size
Grant of Incentive Stock Options
The Company today announced the grant of a total of 4,350,000 incentive stock options to directors, management, consultants and contractors. The options are for a ten-year term at an exercise price of $0.125 per option share.
Qualified Person
Lorne Warner, P.Geo, is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the scientific and technical disclosure in this news release.
On behalf of the Board of Directors
"Harold Forzley"
President / CEO
For more information contact Harold Forzley, President
info@bathurstmetals.com
Neither TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain of the statements made and information contained herein may contain forward- looking information within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, information concerning the Company's intentions with respect to the development of its mineral properties. Forward-looking information is based on the views, opinions, intentions and estimates of management at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated or projected in the forward-looking information (including the actions of other parties who have agreed to do certain things and the approval of certain regulatory bodies). Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws, or to comment on analyses, expectations or statements made by third parties in respect of the Company, its financial or operating results or its securities. The reader is cautioned not to place undue reliance on forward-looking information.
Copyright (c) 2020 TheNewswire - All rights reserved.