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South Star Battery Metals Announces Initial 2023 Drilling Program Results for the BamaStar Graphite Project in Coosa County Alabama and NI43-101 Preliminary Economic Assessment Study Update
VANCOUVER, BC / ACCESSWIRE / August 15, 2023 / South Star Battery Metals Corp. (" South Star...
About this update from South Star Battery Metals Corp
[{"type":"text","content":"South Star Battery Metals Announces Initial 2023 Drilling Program Results for the BamaStar Graphite Project in Coosa County Alabama and NI43-101 Preliminary Economic Assessment Study UpdateVANCOUVER, BC / ACCESSWIRE / August 15, 2023 / South Star Battery Metals Corp. (\"South Star\" or the \"Company\") (TSXV:STS)(OTCQB:STSBF), is pleased to announce that it is near completion of its 2023 drilling campaign on its BamaStar Graphite Project in Coosa County, Alabama. The program is designed to test continuity and limits of mineralization in support of the upcoming NI43-101 Preliminary Economic Assessment (PEA), scheduled for the end of Q1 2024. To date, 11 holes totaling approximately 1,300 meters have been completed and there are 3 to 4 additional holes planned along strike. The drilling campaign is expected to be completed in August. All completed holes have intercepted significant intervals of graphite mineralization. Sample assays are underway at ActLab's facility in Ontario, Canada and are expected to be completed by September. The Company is also finalizing negotiations with three international engineering/consulting companies for the PEA, and the contract is expected to be approved by the board and released in August.During the drilling, several potentially promising zones were intersected as can be seen in the below photograph (Figure 1).Figure 1: Hole CMD 23-017 Core with Graphite Mineralization with Approximately 3% Grade (Cg) Initial notable assay results have confirmed the prospectivity of several significant intersections as seen in Table 1 below based on a 1% cutoff grade. Hole IDFromToCgCMD230130m8m2.54%CMD230140m23m2.17%CMD230159m62.3m2.51%CMD230160m60.92.30%CMD2301670.8m79m2.88%CMD230173.5m36.5m3.07%CMD2301773.8119.6m2.34%CMD230180m63m2.42%Table 1: Significant intersections in the first six holes drilled at the BamaStar Project.Richard Pearce, CEO of South Star said, \"Once again, preliminary results are extremely positive with all holes having consistent grade and significant mineralized intervals at surface or near surface. It's exciting to see the continued advance of the BamaStar project as we close in our goals of completing the PEA by March 2024. The PEA will present our 5- to 7-year strategic plan of phased production with two mines producing high-quality concentrates, and a vertically integrated value-add pl...