Bitterroot Resources Intersects Additional Nickel-Copper-PGM Mineralization
March 24, 2021
LM Property Expanded Via MOU on 280 Acres
Bitterroot Resources Ltd. (symbol BTT, TSX-V) reports that the sixth hole (LM 21-10) of the 2021 winter drilling program at the LM nickel-copper-PGM project in the Upper Peninsula of Michigan has intersected an estimated true thickness of 2.1 metres of disseminated and blebby sulphide mineralization, with the sulphides consisting of chalcopyrite, pyrrhotite and pyrite. Pentlandite also has been identified within the mineralized intervals, but cannot be reliably estimated at this time. The mineralized core interval consists of 1.38 metres of 9-10% blebby sulphides that are overlain by 0.87 metres of 3% disseminated sulphide mineralization. A 0.19 metre interval of semi-massive sulphides occurs at the basal contact of the intrusion. The mineralization in hole LM 21-10 occurs mainly as chalcopyrite, pentlandite and pyrrhotite blebs and clasts. A description of the mineralized intervals is provided in the table below. Assay results are expected in approximately 8-10 weeks. A 3-dimensional model of the drill holes and photos of the mineralized core samples are posted on www.bitterrootresources.com.
|Logged Rock Type||Cpy
|2.1||Estimated True Thickness||2-3||6-7||1||9-10|
Cpy = chalcopyrite, Po = pyrrhotite, Py = pyrite
Hole LM 21-10 intersected the sulphide-bearing mineralized interval some 50 metres laterally from the mineralization intersected in LM 20-01 and 70 metres from the mineralization intersected hole LM 21-07. All three mineralized intervals occur at approximately the same elevation, where the keel of the conduit appears to be sub-horizontal. Hole LM 21-11 is currently underway. It will be the last hole of the winter program, testing an area 50-100 metres from the previously intersected mineralization.
MOU SIGNED COVERING 280 ACRES
Bitterroot Resources Ltd.’s Michigan subsidiary, Trans Superior Resources, Inc. has entered into a Memorandum of Understanding with a privately-owned company, whereby Trans Superior has the exclusive right to negotiate the purchase of 280 acres of lands adjoining the LM Property. In return, Trans Superior will fund a Quiet Title action to reunite title to the abandoned mineral rights with the surface rights. Trans Superior has been granted immediate access to the subject lands for mineral exploration.
Exploration and land acquisition 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. Mr. Nickolas Dudek, P.Geo, of C.J. Greig & Associates Ltd. is the Qualified Person responsible for the 3-dimensional modelling of the drill hole data.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael S. Carr
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.