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BlueBird Battery Metals days away from exploration program at Batt cobalt, copper project in Yukon

Last updated: 18:03 16 Jul 2018 BST, First published: 10:03 16 Jul 2018 BST

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Nickel and cobalt are two of the main materials used in vehicle batteries

BlueBird Battery Metals Inc (CVE:BATT, OTCMKTS:BBBMF) will kick off a ten-day exploration programme at the Batt cobalt-copper project early next month (August).

A recent grab sample made by the Yukon government assayed 1.16% cobalt and 0.66 g/t gold.

Bluebird struck an option deal on March this year with Strategic to acquire an 80% interest in the Batt claims.

READ: Cobalt group BlueBird Battery excited about Broken Hill acquisition, which increases its Australia portfolio

"We are excited to commence the first detailed exploration program at the Batt Co-Cu Project since the 1960s," said chairman and chief executive Peter Ball.

He added: "The recent high-grade rock sample averaging 1.16% cobalt, indicates the potential of battery metals at the project, noting it also re-confirms historical grades sampled over 50 years ago."

Work in the summer will consist of property-scale mapping, soil and rock chip sampling, and reconnaissance to evaluate the mineralised trend.

Information will assist the resource group to plan a potential larger exploration program, which may include ground EM or aeromagnetic geophysical surveys, in the fall of 2018.

Batt lies around 90 km north of the giant Windy Craggy Copper cobalt deposit which contained around 100 Mt (million tonnes) of more than 1% copper and .1% cobalt.

READ THE BIG PIC: BlueBird Battery Metals aims to help solve a looming problem facing electric car makers: the ‘unruly teenager,’ otherwise known as cobalt

Batt claims were re-staked in 1993 based on geological similarities to the Windy Craggy deposit with a historical (1991) proven and probable Reserve of 297Mt at 1.4% copper, 0.07% cobalt. 

Alf Stewart, the president of BlueBird,  added on Monday: "We have asked our exploration team to assess the possibility of a "Windy Craggy style" Copper-Cobalt VMS style deposit on the property.

"The Yukon Government has mapped a mafic volcanics/ sediment contact across the Batt property that may be prospective for that style of deposit."

BlueBird is developing battery metals projects, primarily cobalt and nickel.

The goal is to pursue a business model that offers direct and long-term leverage to rising prices of nickel and cobalt, two principal materials in EV (electric vehicle) batteries.

Last week, the group said it was to expand its Australian portfolio with the acquisition of 726 sq km of licences at its Broken Hill project in New South Wales - the area that launched global mining giant BHP Billiton (LON:BLT).

The firm has inked a binding letter of intent to acquire 75% of the rights, title and interest in the licences from Impact Minerals Ltd.

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on 2/4/19