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Bitterroot Resources Ltd.

10/27/2021 | Press release | Distributed by Public on 10/27/2021 16:50

Bitterroot Resources Pauses Drilling at the LM Nickel-Copper Project

Bitterroot Resources Ltd. (symbol BTT, TSX-V) and its 49% joint venture partner Below Exploration Inc. announce the completion of the summer 2021 drill program on the LM nickel-copper-bearing intrusion in the Upper Peninsula of Michigan. In keeping with the terms of an agreement with the surface owner, drilling has been temporarily paused for hunting season. Management plans to resume drilling in early 2022.

The objective of LM 21-21, the final hole of the summer drilling campaign, was to test the SE quadrant of the LM intrusion. It was drilled to a depth of 286.05 metres, deviated more than planned and exited the intrusion several metres above the mineralized elevation seen in nearby holes.

Additional drilling is required to expand and follow up previously intersected intervals of high-grade nickel-copper-bearing massive sulphide. For example, hole LM 20-07 intersected a 0.75 metre-interval grading 5.16% nickel and 1.18% copper and hole LM 21-14 intersected a 1.07 metre-interval grading 4.09% nickel and 0.78% copper. The location of the feeder to theses high grade intervals is being pursued.

Drilling of 21 holes at the LM Property since June 2020 has yielded the following;

  • Five (5) holes hit intervals of disseminated and massive sulphide mineralization
  • Eleven (11) holes exited the intrusion above the mineralized interval
  • Two (2) holes were lost in a fault zone
  • Three (3) holes did not intersect the intrusion

Since June 2021, Bitterroot and Below have consumed approximately 70% of their planned US$1,000,000 budget and both companies retain sufficient working capital to fund the next phase of winter drilling in January-March 2022.

Exploration of the LM Project is being funded by Bitterroot Resources Ltd. (51%) and privately-owned joint venture partner Below Exploration Inc. (49%).

Mr. Glenn W. Scott, CPG, is the Qualified Person responsible for the technical content of this release.

Quality assurance/Quality control

Bitterroot Resources Ltd. used ALS Canada Ltd. ("ALS") for geochemical analyses and assaying. ALS is a global leader in analytical services. The samples were analyzed at ALS's secure, ISO 17025-certified laboratory in North Vancouver, BC, Canada, by 33-element four acid leach and Fire Assay, both with ICP-AES finish.

Analytical quality assurance and quality control (QA/QC) confirming the accuracy of the analyses were performed by ALS using twelve (12) standard samples and two (2) blanks.

Core samples were transferred on a daily basis from the drill site to Bitterroot's secure core storage and logging facility. After leaving the drill site, core samples were in the custody of Bitterroot's personnel or in secure storage. The two (2)-inch (5 cm)-diameter NQ-sized drill core was cut with a rock saw. Half of the core was shipped to ALS for sample preparation and analysis and half retained. The samples were tagged, bagged and boxed by Bitterroot personnel and shipped via courier to ALS in North Vancouver, B.C.

ON BEHALF OF THE BOARD OF DIRECTORS

Michael S. Carr
Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD LOOKING STATEMENTS: Certain statements contained in this press release may constitute forward-looking statements under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects" or "it is expected", or variations of such words and phrases or statements that certain actions, events or results "will" occur. This document contains statements about expected or anticipated future events and/or financial results that are forward-looking in nature and as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, regulatory processes and actions, technical issues, new legislation, competitive conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events and the company's ability to execute and implement its future plans. Actual events may differ materially from those projected in the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, except as may be required by applicable securities laws. For such forward-looking statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities Legislation Reform Act of 1995.