Battery Mineral Resources Reports Promising Copper Drill Results at Punitaqui Mine Complex

Battery Mineral Resources Corp. has reported promising drill results from its ongoing exploration program at the Punitaqui copper mine complex in Chile. The company's latest drilling campaign, which commenced in 2024, has yielded several high-grade copper intercepts that could significantly impact the mine's future operations and resource estimates. The drilling program, focused on the San Andres and Cinabrio mines within the Punitaqui complex, has returned notable results from the first five underground drill holes completed on Level 448 at San Andres.

Highlights include intercepts of 4.3 meters at 1.4% total copper and 24 g/t silver, 4.0 meters at 1.1% total copper and 7.8 g/t silver, and 3.5 meters at 1.0% total copper and 23.3 g/t silver. These results are particularly significant as they confirm and potentially expand upon the existing resource model for the San Andres deposit. The drilling has validated the geological understanding of the mineralized zones and provided better delineation of the copper-bearing shale units within and adjacent to planned extraction areas.

Battery Mineral Resources CEO Martin Kostuik expressed optimism about the findings, stating that the results demonstrate the company's understanding of the geological controls of the copper mineralization and how a well-planned drilling program has the potential to provide additional copper resources. The importance of these results extends beyond mere confirmation of existing models. The potential for additional resources could have a substantial impact on the Punitaqui operation, which recently resumed copper concentrate production in May 2024.

New resources identified through this drilling program could provide additional feed for the mill without requiring extensive capital investment in mine development, potentially enhancing the project's economics and extending its operational life. The San Andres deposit, part of the larger Punitaqui project, is situated within a 25-kilometer-long mineralized district known for its IOCG and manto-style copper deposits. The current drilling program builds upon previous exploration efforts, including a substantial campaign in 2021-2022 that led to the publication of an NI 43-101 resource estimate for San Andres in October 2022.

At a 0.70% copper cut-off, the San Andres deposit was reported to contain an Indicated Sulphide Resource of 1,736,000 tonnes grading 1.06% total copper and 4.83 g/t silver, as well as an Inferred Sulphide Resource of 303,000 tonnes at 0.82% total copper and 4.03 g/t silver. The ongoing drilling has the potential to upgrade and expand these resource figures. The exploration program at Punitaqui is continuing, with drilling now underway at the Cinabrio underground mine. Fourteen drillholes totaling 426.5 meters have been completed at Cinabrio, focusing on three planned production areas.

As Battery Mineral Resources advances its exploration and production activities at Punitaqui, the mining industry will be watching closely. The success of this program could not only bolster the company's position but also contribute to the broader copper supply, which is increasingly critical in the global push towards electrification and renewable energy technologies. With copper demand projected to rise significantly in the coming years, the potential expansion of resources at established mines like Punitaqui takes on added importance. The results of this drilling program may have implications not just for Battery Mineral Resources, but for the copper market as a whole, as it seeks to meet growing global demand for this essential metal.