Green Battery Minerals Inc (CVE:GEM) (FRA:BK2P) (OTCMKTS:GBMIF) said it has completed the design of a drill program of up to 6,000 meters (m) on its road accessible Berkwood Graphite Project in northern Quebec and that permitting is underway.
The company said its board and technical advisors designed the drill program with assistance from Longford Exploration to help coordinate the fieldwork and synchronize the program, as they have done so successfully in all previous programs.
In the summer of 2019, Green Battery said its technical team visited the Berkwood property and conducted a detailed survey of the selected drill locations to determine the best roads and trails to be used or opened and to locate appropriate sources for water for the drill program. The team also channel sampled new undrilled graphite outcrops that were completely exposed at surface and test results proved numerous areas with high-grade graphite with excellent metallurgy.
READ: Green Battery Minerals says gap environmental analysis on Berkwood graphite project successfully completed
The company said the drill program for summer 2021 will be done to accomplish three goals:
- The first objective is to conduct step out and infill drilling designed to increase the already proven resource on Zone 1. Having hit graphite in every hole drilled to date on Zone 1 this is not an exploratory program but rather completely designed to increase the companies resource size.
- The second objective is to drill Zone 6. The company said it is fortunate that the graphite structure on our property bends and folds and causes numerous outcrops. One of these large outcrops is zone 6 and it has not been drilled before. Channel samples from the zone have already proven to contain extremely high-grade graphite with excellent metallurgy. Having surface sampled the zone 6 drill locations, and proved there is graphite there already, mitigates much of the risk going into this drill program.
- The third objective is to use these drill results to further its preliminary economic assessment PEA. This will include an estimated NPV (Net Present Value) of the resource and an estimated IRR (Internal Rate of Return).
“I am very pleased to have the drill permitting process underway. We have a very exciting and large drill program designed,” said Green Battery Minerals CEO Tom Yingling in a statement.
“Drilling zone 1 for the fifth time should add significantly to the Company’s resource size as a lot of the drilling is low risk step out and infill drilling from previous successful drill holes. I am pleased to finally drill zone 6 as well as it has tested graphite from its outcrops and channel samples, so we know its graphite now we just need to see how big it is. The geophysical anomaly which was used to initially target, discover and sample it indicates it could be very large,” he added.
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