Strong Graphite Assay Results Announced by Green Battery Minerals
· Issued by First Canadian Graphite Inc. via TheNewswire
(TheNewswire)
Company measures 14.41%
Graphite over 19.0m on Zone 6
September 6th, 2023 –
TheNewswire -
VANCOUVER, B.C. Green Battery Minerals Inc.
(" Green" or the "Company") (TSXV: GEM, FSE: BK2P,
WKN: A2QENP OTC: GBMIF)
is pleased to announce
assay results from its drilling program conducted at Zone 6 on its
Berkwood graphite property in Quebec. The program was designed to
follow up on surface work conducted over the target area
last summer (see February
16, 2023 news release) and was successful in intercepting graphite
mineralization at depth over the previously defined 600m of strike
length with a total of 20 holes and 2058m drilled.
Tom Yingling, President and CEO of GEM
commented:
"We continue
to produce excellent drilling results, not just in terms of
composition but also in terms of quality. With only about 10% of our
property fully explored, we already have 550,000 tonnes (inferred +
indicated) graphite resource and these new results will add to that.
As we work towards delivering a PEA, we are more than encouraged by
our exploration results. With billions being invested in battery
plants throughout North America, it is of crucial importance that the
critical minerals needed to meet demand are available. That is what
GEM is doing, ensuring LIB manufacturers will have a high quality,
North American source of graphite. We are positioned well and with
more results to come out over the coming months, we are confident of
generating substantial additional value, especially considering the
$3.5 billion NPV our neighbors (Nouveau Monde, TSXV:NOU) have produced
on the back of their fully explored property."
The headline intercept was drilled down dip out of an abundance of
curiosity on the most impressive outcrop. Typical high-grade
intercepts were approximately 4.0m long at close to true thickness
with other minor intervals present throughout. Intercepts and collars
are presented in Tables 1 and 2 below:
Table 1: Significant intercepts from
the Fall 2022 drill program.
Table 2: Collar coordinates from the
Fall 2022 drill program.
Click Image To View Full Size
Figure 1: Drilling and surface work
on Area 1.
Click Image To View Full Size
The core of the fold nose and the north limb of the
structure, representing 1000m of strike length, remain untested and
will require more aggressive earthworks to properly
evaluate.
Tom’s video.
About the Berkwood Graphite
Project
The Berkwood Graphite Project is located within
the jurisdiction of Quebec, in the Manicouagan Regional County
Municipality, three hours driving time from the city of Baie-Comeau.
Easy access is provided via a major secondary road and numerous
tertiary and forest roads that traverse the property.
The Zone 1 deposit lies 8 km southwest of
Nouveau Monde’s
deposit which has a $3.5
billion NPV on it. The Company believes its Zone 1 deposit, and that
of Nouveau Monde, share many similar geological characteristics with
the Zone 1 deposit being one of the highest-grade graphite deposits in
the world.
The current mineral resource at the Berkwood
Graphite Project includes in-pit constrained resource totaling
1,755,300 tonnes of indicated resources at 17.00 % Cgr and 1,526,400
tonnes in inferred resources at 16.39 % Cgr.
In-pit Resource at Lac Gueret South
Project (rounded numbers)
Disclaimer for Forward-Looking
Information:
Certain statements in this
document which are not purely historical are forward-looking
statements, including any statements regarding beliefs, plans,
expectations or intentions regarding the future. Forward looking
statements in this news release include that the Company will carry
out the drill program described in this news release, conduct the
Offering and expend funds on Berkwood Graphite Project exploration. It
is important to note that the Company's actual business outcomes and
exploration results could differ materially from those in such
forward-looking statements. Risks and uncertainties include that
further permits may not be granted timely or at all; the mineral
claims may prove to be unworthy of further expenditure; there may not
be an economic mineral resource; methods we thought would be effective
may not prove to be in practice or on our claims; economic,
competitive, governmental, environmental and technological factors may
affect the Company's operations, markets, products and prices; our
specific plans and timing drilling, field work and other plans may
change; we may not have access to or be able to develop any minerals
because of cost factors, type of terrain, or availability of equipment
and technology; and we may also not raise sufficient funds to carry
out our plans. Additional risk factors are discussed in the section
entitled "Risk Factors" in the Company's Management
Discussion and Analysis for its recently completed fiscal period,
which is available under Company's SEDAR profile at
www.sedar.com
. No assurance can be given that any of
the events anticipated by the forward-looking statements will occur
or, if they do occur, what benefits the Company will obtain from
them. These forward-looking statements reflect management's current
views and are based on certain expectations, estimates and
assumptions, which may prove to be incorrect. Except as required by
law, we will not update these forward-looking statement risk
factors.
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.
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