Vancouver, British Columbia (February16, 2021) – Bathurst Metal Corp. (BMV ) (“Bathurst” or the “Company”) is pleased to announce the acquisition of the TED Project by staking of the T4-6 mineral claims covering 2,644 Ha. The company’s 100% owned property is adjacent to the company’s 100% owned Turner Lake Project. These Projects are located approximately 60 kilometers north-northwest of the community of Bathurst Inlet in the Kitikmeot District of western Nunavut, Canada.
Hardy Forzley, President and CEO of Bathurst Metals stated “The newly staked TED Project is exciting to us as it has several untested zones of high-grade gold mineralization that were highly ranked by previous Echo Bay geologists, known to be successful in the exploration of gold bearing iron formations. The project is also adjacent to our 100% owned, Turner Lake Project which is known to contain significant gold concentrations along a Fe/Mg Tholeiite contact with visible gold noted in almost every diamond drill hole crossing the structure. The quality of these projects and their close proximity to each other significantly increases the potential of Bathurst Metals.”
TED Gold Bearing Iron Formation Project – Nunavut
The TED Project covers an eight kilometre strike length of iron formations contained within upper greenschist to lower amphibolite facies, Archean Age Yellowknife Supergroup metasediments. The last known systematic exploration on the iron formations occurred in 1984-1985 by Echo Bay Mines in which they discovered gold mineralization in chert rich iron formations which contains gold bearing sulphide mineralization in the form of pyrrhotite, arsenopyrite and pyrite. Four zones of gold mineralization were located, one zone known as the B15 gold occurrence recorded a chip sample returning a value of 31.24 grams/ton gold over 1.4 meters and included a separate grab sample of the iron formation containing 139.18 grams/ton gold. The iron formation has not been drill tested as recommended by Echo Bay geologists.
|Bathurst Metals Corp. 100% Owned Properties|
Lorne Warner, P.Geo, is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the scientific and technical disclosure in this news release.
On behalf of the Board of Directors
President / CEO
Bathurst Metals Corp.
For more information contact Harold Forzley, President
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Forward Looking Statements
Certain of the statements made and information contained herein may contain forward- looking information within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, information concerning the Company’s intentions with respect to the development of its mineral properties. Forward-looking information is based on the views, opinions, intentions and estimates of management at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated or projected in the forward-looking information (including the actions of other parties who have agreed to do certain things and the approval of certain regulatory bodies). Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by applicable securities laws, or to comment on analyses, expectations or statements made by third parties in respect of the Company, its financial or operating results or its securities. The reader is cautioned not to place undue reliance on forward-looking information.