BlueBird to Commence Drilling at its Canegrass Project in Western Australia
15 August 2018 - 2:30PM
BlueBird Battery Metals Inc. (TSXV: BATT;
US:BBBMF) (the “
Company” or
“
BlueBird”) is pleased to announce that it has
received all permits necessary for its initial drill program at its
100% controlled Canegrass Project in Western Australia. Drilling
will focus on testing a number of geophysical anomalies interpreted
to be related to near surface nickel, cobalt and copper
(“Ni-Co-Cu”) mineralization. Drilling is expected to commence on
August 20th and be completed by the end of September. Results are
expected by the end of October.
Canegrass Exploration Program
Highlights:
This initial drill program consists of a planned
2000 meters of drilling, which is predominantly focused on
potential Ni-Co-Cu targets identified by airborne and ground based
geophysics. At the same time, the Company plans to complete
additional ground based electro-magnetic (“EM”) surveys over
additional airborne targets identified by the recently updated
airborne magnetic survey of the property. Follow up drilling may be
warranted depending on results of the initial drill campaign and
the ground based EM surveys.
“We are excited to commence drilling at the
Canegrass Project, where historical exploration and drilling
identified multiple near surface Ni-Co-Cu targets. Our initial
program is focused on step out drilling at CG-02 and CG-039 testing
the identified off-hole geophysical anomalies that we believe
represent possible extensions to the historical Ni-Co-Cu results
returned in 2014. We are also eager to drill the VTEM-06 and
VTEM-08 anomalies where surface EM surveys have indicated anomalies
with a similar geophysical signature to CG-02 and CG-039,”
commented Alf Stewart, President of BlueBird. “The
proposed drilling will also allow us to evaluate the subsurface
extent of the vanadium, titanium and iron mineralization identified
at the planned drill site.” Historical drilling at Canegrass
returned anomalous Ni-Co-Cu values from two geophysical anomalies
within the property footprint. Recent ground based surveys have
identified strong electro-magnetic anomalies at the original drill
targets and two additional targets.”
About Canegrass Project:
The 4200 Ha project contains a highly
prospective geological setting, where historical exploration
drilling intersected anomalous Ni-Co-Cu mineralization at two
locations within the property footprint. Airborne VTEM TM
identified 14 geophysical anomalies in 2013. Historical drilling in
2014 at two of the identified targets (CG-02 and CG-039),
intersected anomalous Ni-Co-Cu mineralization in 9 of 10 holes
completed. Downhole EM surveys identified off-hole anomalies that
have been confirmed by recent surface EM surveys completed earlier
this year. The Company’s initial drill program plans to target
these off-hole anomalies at the CG-02 and CG-039 targets as well as
testing strong, surface EM anomalies at targets VTEM 13-08 and VTEM
13-06 (Refer to Figure 1).
On August 7, 2018, the Company reported the
results of surface rock chips collected at VTEM-08 during the
cultural survey of the planned drill sites returned anomalous
vanadium, titanium and iron values. The results fell within a
broad, elongate, V2O5 surface anomaly defined by historical rock
chip samples (Refer to Figure 2 for additional information and
please refer to press release dated August 7th, 2018).
Figure 1 is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/7c05def9-3ad1-4976-afd6-d8663141612c
Figure 2 is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/94711c25-0a62-4b58-8014-2ed7e77621b0
Details regarding the collection and
analysis of the historical data are unknown at this time, other
than samples were collected by Maximus Resources Ltd. in 2007.
BlueBird notes that there is no guarantee that the historical
results are representative and cannot guarantee that the Company
will be able to duplicate the results with future sampling
programs.
The technical content of this news release has
been reviewed and approved Wes Hanson, P.Geo., a director of the
Company and a Qualified Person pursuant to National Instrument
43-101. The qualified person has not yet visited the
Canegrass Project, and therefore has not yet verified the data
disclosed, including sampling, analytical, and test data underlying
the information or opinions contained in the written
disclosure.
About BlueBird Battery
Metals
BlueBird Battery
Metals (TSXV: BATT; US: BBBMF) is a
Canadian publicly listed company focused on the global exploration
and development of strategic battery metals projects, primarily
cobalt, and nickel. BlueBird’s goal is to pursue a business model
that offers direct and long-term leverage to the price appreciation
in cobalt, nickel and manganese, three principal materials in EV
batteries. The Company plans to become a leader in the battery
metals sector, as cobalt is currently in a global supply deficit,
has a vulnerable supply chain, and is part of an emerging sector
with extraordinary potential. BlueBird is currently advancing a
portfolio of battery metals focused assets in in Western Australia,
New South Wales, Australia, and in the Yukon, Canada, and reviewing
new acquisition opportunities to add to the Company’s project
portfolio.
On Behalf of the Board of BlueBird Battery Metals
Inc.
Peter A. BallChairman and CEO
For more information, please contact 1-855-584-0160 or
info@bluebirdbatterymetals.com.
This news release may contain or refer to
forward-looking information based on current expectations,
including, but not limited to the Company exploring the Canegrass
Ni-Co-Cu Property, the Batt Co-Cu Property and the impact on the
Company of these events, including the effect on the share prices.
Forward-looking information is subject to significant risks and
uncertainties, as actual results may differ materially from
forecasted results. Forward-looking information is provided as of
the date hereof and we assume no responsibility to update or revise
such information to reflect new events or circumstances.
Neither TSX Venture Exchange, the Toronto Stock
Exchange nor their 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.
BlueBird Battery Metals (TSXV:BATT)
Historical Stock Chart
Von Nov 2024 bis Dez 2024
BlueBird Battery Metals (TSXV:BATT)
Historical Stock Chart
Von Dez 2023 bis Dez 2024