Bitterroot Resources Updates the LM Magmatic Nickel-Copper Project
March 9, 2022
Bitterroot Resources Ltd. (symbol BTT, TSX-V) is providing an update on its magmatic nickel/copper drilling program on the LM Property in the Upper Peninsula of Michigan.
The LM Property is being explored for conduit-hosted nickel-copper-platinum-palladium mineralization similar to Lundin Mining Corporation's Eagle and Eagle East orebodies, which are located 25 kilometres to the east. Disseminated, semi-massive and massive sulphide Ni-Cu-PGM mineralization has been intersected in nine (9) of 25 holes completed to date on the LM Property.
Since drilling resumed at LM in mid-January 2022, Bitterroot Resources Ltd. (51%) and joint venture partner Below Exploration, Inc. (49%) have completed 1,160 metres of drilling in four (4) vertical core holes. The mineralized intervals are described in the table below. The first three holes (LM 22-22, 23 and 24) intersected 3.10, 2.04 and 5.38 metres respectively, of disseminated or blebby nickel-copper sulphide mineralization along the basal contact of the LM intrusion. Assays are expected in roughly eight (8) weeks.
Recently completed vertical hole LM 22-25 stepped out approximately 50 metres east of hole 22. This hole has generated two significant pieces of information;
- A 5.1-metre core interval starting at 161.03 metres down-hole contains mineralized clasts of peridotite, 6-20 cm across, with disseminated and blebby nickel-copper sulphides. These mineralized clasts are suspended in a matrix of unmineralized olivine gabbronorite. They are interpreted as having been transported to their current position by a younger pulse of olivine gabbronorite magma, which eroded the clasts from an undiscovered mineralized body located deeper in the conduit.
- LM 22-25 exited the intrusion in weakly mineralized breccia with partially resorbed siltstone clasts, at 323.09 metres down-hole. This point is 62 metres deeper than the basal contact in adjacent holes, suggesting that the base of the intrusion plunges at least -50 degrees in this area. The down-plunge extent of the conduit will be targeted in future holes.
After drill hole LM 22-26 is completed, drilling will be paused for spring break-up and is expected to resume in early May. Additional information on the LM Property is available at www.bitterrootresources.com.
P = assays pending
Mr. Glenn W. Scott, CPG, is the Qualified Person responsible for the technical content of this disclosure. 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
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