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Battery Mineral Resources Announces Consolidation of Remaining Claims in the Bonanza Project, Idaho Cobalt Belt, USA
Vancouver, British Columbia--(Newsfile Corp. - June 4, 2021) - Battery Mineral Resources Corp....
About this update from Battery Mineral Resources Corp
[{"type":"text","content":"Battery Mineral Resources Announces Consolidation of Remaining Claims in the Bonanza Project, Idaho Cobalt Belt, USAVancouver, British Columbia--(Newsfile Corp. - June 4, 2021) - Battery Mineral Resources Corp. (TSXV: BMR) (\"Battery\" or the \"Company\") is pleased to announce that it has completed a transaction for 58 unpatented federal mining claims from International Cobalt Corp. (CSE: CO) (OTC Pink: COBAF) (\"International Cobalt\") that make up part of the Bonanza Project, located within the Idaho Cobalt Belt, Idaho, USA. Battery now controls 100% of the Bonanza Project area, with 288 contiguous claims covering 2,440 hectares. BackgroundThe Bonanza Project encloses an area of widespread cobalt mineralization and is adjacent to the former Blackbird Cobalt Mine (Noranda Inc.), immediately to the southeast, that produced approximately 17 million tonnes of ore grading 0.7 percent cobalt (\"% Co\"), 1.4 percent copper (\"% Cu\"), and 1 grams per tonne gold (\"g/t Au\") from 1950-1985. The Bonanza Project is approximately 80 kilometers west of Salmon Idaho. Historic exploration and drilling from the Bonanza area in the 1950's reportedly intercepted several mineralized drill intersections ranging up to 1.5 m containing 0.76% Co and 5.15% Cu, and rock samples reaching from 1.1% - 4.57% Co in underground workings.Renewed activity in the Idaho Cobalt Belt includes First Cobalt's Iron Creek project, which hosts an Indicated Resource of 2.2 million tonnes of 0.26% cobalt and 0.61% copper for 12.3 million pounds of contained cobalt and Jervois Mining's Ram Deposit, at the former Blackbird Cobalt Mine, which hosts a Reserve of 2.5 million tonnes of 0.55% Co, 0.8% copper, and 0.64 g/t Au for 30 millions pounds of contained cobalt.In early 2016, Battery recognized that previous claims in the Bonanza Project area had lapsed and the Company staked the primary mineral showings. A portion of the Bonanza Project area was over-staked by a third party in late 2016 and the over-staked area was later acquired by International Cobalt. TransactionIn August of 2020, the ownership issue was settled with Battery's acquisition of 58 unpatented mining federal from International Cobalt for 200,000 restricted common shares of the Company, with 100,000 shares becoming unrestricted and freely trading as of February 22, 2022, and the remaining 100,000 shares ...