STOCKHOLM, Jan. 17, 2022 /PRNewswire/ -- Eurobattery
Minerals AB (Nordic Growth Market: "BAT" and Börse Stuttgart: "EBM"), a growth company in the
mining and exploration industry with the vision to help
Europe become self-sufficient in
ethical battery minerals, announces that the first assay results
have been received from the drill holes carried out as part of the
2021 diamond drilling campaign on its Spanish Project (Corcel
Project), initiated in June 2021 and
completed on time and on budget. The company believes the results
are highly satisfactory for the continued projection of the Corcel
resource.
- The first assay results have been received from the first two
drill holes (COR005 and COR006) of the seven drill holes carried
out in 2021 in the Corcel Project.
- Elevated levels of nickel (Ni), copper (Cu) and cobalt (Co)
intersected in drill holes COR005 & COR006. Assay highlights
from the first two drill holes include:
17.6 m @ 0.27% Ni, 0.03%
Cu and 0.01% Co (COR005)
23.2 m @ 0.24% Ni, 0.03%
Cu and 0.01% Co (COR006)
- The first assay results of this campaign verify the interesting
potential of the "West Anomaly", where drill hole COR003 (19DD001)
confirmed at depth the good results obtained in the geochemical
campaign, with an average of 69 m @
0.30% Ni, 0.04% Cu and 0.01% Co.
- Assay results pending from the remaining drill holes. Results
anticipated in the first months of 2022 to obtain the accredited
resource certification (Ni 43-101) in the first quarter of
2022.
- Based on the results obtained in the 2019 campaign and the
first results received this year, and taking into account the size
of the anomalous zone, there is potentially a deposit of
considerable size (around 60 million tonnes with 0.25% Ni).
"The results from this and the previous drilling campaign
indicate the excellent potential of establishing a solid nickel
project in the south of Europe,"
commented Roberto García Martínez, CEO of Eurobattery
Minerals.
In 2021, a total of seven diamond drill holes were completed
with a total drilled length of 1,134 meters. Work focused on the
"West Anomaly" where the company's previous exploration work
recorded ground anomalies of up to 0.33% Ni coincident with an
increase in the magnetic response of the underlying rocks. DDH
COR003 (19DD0001) confirmed the source of the anomaly in this area
with an average grade of 69 m @ 0.30%
Ni, 0.038% Cu and 0.01% Co from 78 m
depth, including 21 m @ 0.345% Ni,
0.045% Cu and 0.011% Co from 78 m
depth.
Summary of the first drilling results
The 2021 drilling campaign was designed to define – from surface
to a depth of approximately 150 metres – the existing
resources of Ni, Cu and Co in an area that is approximately 150
metres in length along the western anomaly defined in the 2019
campaign, which has a North-South length of approximately 1,200
meters and an East-West width of approximately 375 meters.
The results of the sample assays from the current drilling
campaign are mostly pending. To date, only those corresponding to
hole COR005 and part of hole COR006 have been received.
The assay results available to date are highly satisfactory and
corroborate the interesting potential of the "West Anomaly" as can
be seen in the table below, which presents the intersections of
these drill holes determined at a 0.15% Ni cut-off grade (normally
applied in Ni open-pit mines).
HOLE
|
|
FROM
(m)
|
TO
(m)
|
INT
(m)
|
Ni
(%)
|
Cu
(%)
|
Co
(%)
|
COR005
|
|
17,05
|
122,80
|
105,75
|
0,200
|
0,024
|
0,012
|
incl.
|
41,50
|
45,50
|
4,00
|
0,230
|
0,055
|
0,014
|
and
|
85,20
|
103,20
|
18,00
|
0,246
|
0,040
|
0,011
|
incl.
|
88,20
|
91,20
|
3,00
|
0,311
|
0,059
|
0,012
|
and
|
105,20
|
122,80
|
17,60
|
0,268
|
0,029
|
0,011
|
incl.
|
105,20
|
110,20
|
5,00
|
0,345
|
0,059
|
0,013
|
COR006
|
|
5,90
|
10,60
|
4,70
|
0,414
|
0,117
|
0,015
|
|
54,40
|
77,60
|
23,20
|
0,236
|
0,027
|
0,011
|
incl.
|
57,40
|
65,60
|
8,20
|
0,290
|
0,049
|
0,012
|
incl.
|
58,40
|
61,40
|
3,00
|
0,396
|
0,083
|
0,013
|
Table 1. Initial assay highlights. Average grades have
been determined with a cut-off grade of 0.15% Ni.
In drill hole COR005, all the results of which are available,
several intersections with high Ni grades (above 0.2%) have been
identified:
- 4 m @ 0.230% Ni, 0.055% Cu and
0.014% Co from 41.50 m depth.
- 18 m @ 0.246% Ni, 0,040% Cu and
0.011% Co from 85.20 m depth (which
includes an intersection of 3 m @
0.311% Ni, 0.059% Cu and 0.012% Co).
- 17.60 m @ 0.268% Ni, 0.029% Cu
and 0.011% Co from 105.20 m depth
(which includes an intersection of 5
m @ 0.345% Ni, 0.059% Cu and 0.013% Co).
These intersections were within a broader intersection of
105.75 m @ 0.200 % Ni, 0.024% Cu and
0.012% Co from 17.05 m depth.
For drill hole COR006, only partial results are available for
two sections, where the following mineral intersections have been
identified:
- 4.70 m @ 0.414% Ni, 0.117% Cu and
0.015% Co, from 5.90 m depth.
- 23.20 m @ 0.236% Ni, 0.027% Cu
and 0.0115 Co, from 54.40 m depth.
This includes 3 m @ 0.396% Ni, 0.083%
Cu and 0.013% Co from 58.40 m
depth.
The Ni mineralisation present is mainly Pentlandite (see Figure
1). This mineralisation is closely linked to Ultramafic and
Ultrabasic rocks consisting of Pyroxenites and Peridotites, which
are amphibolitised to varying degrees of intensity in the vicinity
of the mineralisation.
Figure 2 shows the "looking North" section according to drill
holes COR003, COR005 and COR006, where the mineralised zones
intersected by these drill holes can be seen. Here, large
orange-coloured zones can be observed corresponding to
mineralisation with samples displaying values between 0.2% Ni and
0.25% Ni. These mineralised zones are located around other
red-coloured zones that represent samples with Ni values above
0.25%, reaching values of 0.6% Ni.
In view of this section, albeit incomplete and taking into
account a possible cut-off grade of 0.15 % Ni for an exploitable
deposit in open pit, indications suggest a mineralised body with a
width of between 90 m and
120 m from the surface elevation of
380 m to the elevation of
250 m, which was the depth
investigated.
The western limit of the mineralisation is comprised of a fault,
with apparent strengths of between three and five metres, with the
result that from here to the west, all the drill holes cut gabbroic
rock with intercalations of amphibolite layers and whose analytical
results never exceed 950 ppm Ni (sterile area).
Next steps
The company is satisfied with the results obtained in the first
two drill holes of the 2021 campaign and is awaiting the remaining
results to assess the potential of the area investigated during
this campaign and obtain an accredited resource certification (Ni
43-101) in the first quarter of 2022.
As indicated in Figure 3, which shows the geology of the area
and the drill holes with the mineral intersections, it is evident
that – despite many assay values yet to be received – we are
beginning to see a section of a deposit that could potentially be
of a considerable dimension. This is supported by the drill holes
carried out in 2019, further north of the area investigated in 2021
at some 600 metres distance (COR001 and COR002), which also cut
mineralisation with values in the same order as those obtained in
this campaign. Considering the size of the anomalous zone, there is
potentially a deposit of some 60 million tonnes with a nickel grade
of 0.25%.
For more information, please contact:
Roberto García Martínez, CEO of Eurobattery Minerals
press@eurobatteryminerals.com
Follow us:
LinkedIn:
https://www.linkedin.com/company/eurobattery-minerals-ab/
Twitter: https://twitter.com/eurobatterymin
This information is of the kind that the Company is required to
disclose in accordance with the EU's Market Abuse Regulation. The
information was issued for publication through the agency of the
contact person set out above on 17 January
2022 at 08:00 CET.
About Eurobattery Minerals
Eurobattery Minerals AB is a Swedish mining company listed on
NGM Nordic SME (BAT) and Börse Stuttgart (EBM). As the foundation of the
battery value chain, the company's vision is to help Europe become self-sufficient in ethical and
fully traceable battery minerals for the electric vehicle industry.
The company is focused on exploration and development of several
nickel-cobalt-copper projects in Europe to supply sustainably mined raw
materials critical to the rapidly growing battery market.
Visit www.eurobatteryminerals.com for more
information.
Augment Partners AB, e-mail: info@augment.se, phone: +46 8-604
22 55, is the company's Mentor.
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