Bathurst Metals Corp. Obtains Water Permit for Diamond Drilling the Turner Lake Project, Nunavut, Canada
VANCOUVER, BRITISH COLUMBIA – TheNewswire - September 29, 2022 – Bathurst Metals Corp. (the “Company”) (TSXV:BMV) (OTC:BMVVF) announces it has been awarded the required water permit for diamond drilling on the Turner Lake Project.
The water permit is good for three (3) years and a requirement for surface diamond drilling.
The five (5) year drill permit application is nearing completion and will be finalized once the required reclamation bond payment has been received.
About the Turner Lake Project
The Turner Lake project area covers 7,071.97 hectares, which also contains the Main, East and TED gold zones and the Nickel Knob, massive sulphide mineral deposits.
The Main and East gold zones are hosted along a classic Archean age iron/magnesium tholeiitic contact with gold mineralization occurring mainly within a crackle fractured greywacke.
The TED showing occurs in an Archean Age iron formations hosting several +20 gram/tonne gold values in grab samples in area that has not been drill tested.
Visible gold is common in the Main and TED gold zones.
The East gold zone is approximately two kilometres east of the Main gold zone along the same strike. Grab rock samples have returned up to 31.0 grams per tonne gold and the zone has not been drill tested.
Discovered in the 1960s, the Main gold zone has only had 22 diamond drill holes test across the contact from Chevron Minerals in 1986 to 1989 and Northrock Resources Inc. in 2008/2009. Historical diamond drilling results include from Chevron Minerals:
* 28.00 g/t Au over 4.75 metres;
* 12.86 g/t Au over 8.87 metres;
* 15.20 g/t Au over 4.00 metres;
* 10.00 g/t Au over 4.00 metres.
Northrock Resources diamond drilling results included:
* 13.20 g/t Au over 13.00 metres;
* 22.54 g/t Au over 12.00 metres;
* 16.20 g/t Au over 8.50 metres.
* All lengths presented are core lengths.
The Nickel Knob massive sulphide deposit is approximately 1.9 kilometres south of the Main gold zone and has had only limited drill testing consisting of five diamond drill holes. All holes encountered massive sulphides with the best intercept recorded being 1.81 per cent copper, 1.64 per cent nickel over a 14.0-metre core length.
Harold Forzley, chief executive officer and director of Bathurst Metals, commented: " Based on our previous fieldwork results the company is preparing to commence preparations on the 2023 extensive diamond drilling campaign on our flagship Turner Lake Main zone. Bathurst Metals has a strong 34,690-hectare portfolio of 100-per-cent-owned properties in Nunavut employing experienced geotechnical staff familiar with Northwestern Nunavut."
Lorne Warner, PGeo, 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.
Bathurst Metals Corp.
For more information contact Harold Forzley, CEO
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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.