Bluebird Assays High-Grade Vanadium at its Drill Ready Canegrass Battery Metals Project209 Views
Vancouver, British Columbia, August 7, 2018 – Bluebird Battery Metals Inc. (TSXV: BATT; US:BBBMF) (the “Company” or “Bluebird”) is pleased to highlight its recent high grade Vanadium assay results and provide the following update regarding exploration activities at the Canegrass Ni-Co-Cu Property.
Canegrass Exploration Activities Highlights:
- The Company has completed a high resolution airborne magnetic survey of the property (Refer to Figure 1) and the data is currently being reviewed in conjunction with the historical property data to identify and prioritize drill targets for follow up diamond drilling expected to commence later this month.
- Review of historical data highlighted strongly anomalous vanadium, titanium and iron in surface rock chip samples associated with the Shephards Discordant Zone (“SDZ”), a regional scale structure that hosts the Windimurra Vanadium Mine, 20 kms to the North. The historical data, collected in 2007 by Maximus Resources Ltd. (ASX:MXR), extends over a 4.5 km strike length in the northern portion of the Canegrass claim group (Refer to Figure 1). In total, 325 samples returned V2O5 grades in excess of 1.0%, with the sample population averaging 1.21% V2O5, 12.6% TiO2 and 50.1% Fe. The full dataset will be available on the Company’s website.
- Company geologists, guiding a cultural survey of preliminary drill sites, recently collected additional rock samples at VTEM TM 13-08 (Refer to Figure 1), in the center of the historical sample population. These latest rock samples from outcrop returned the following results:
- The recent results, generated from a small sample population, suggest that the large historical dataset results may be valid.
“Vanadium prices have increased 300% since 2017 to approximately US$19/lb at the end of July 2018, and we believe vanadium prices will continue to increase as a result of higher demand in both the steel sector, as well as battery manufacturing,” commented Peter A. Ball, CEO of BlueBird. “Given the price appreciation, high grade surface results and size of the vanadium enriched area, the vanadium opportunity represents another compelling exploration target at our Canegrass Ni-Cu-Co property. The favourable structural zone transects the entirety of our Canegrass Property, and extends for over 9 kms from north to south. The historical grades are more than double the reserve grade of the adjacent Windimurra Vanadium Mine Complex a few kilometers to the north. As a result, we will immediately look to evaluate the resource potential in our initial exploration drill program commencing in a few weeks.”
Figure 1: Canegrass Property – High Resolution Airborne Magnetics and Maximus Resources Sampling Grid Inset:
Atlantic Vanadium Ltd., (“Atlantic”), own the adjacent Windimurra V-Fe Mine, located approximately 20 kms to the north of BlueBird’s 100% controlled Canegrass Property. The Windimurra Mine is a modern mine and mill complex with total capital investments of AUD$500M to date. The mine is currently under care and maintenance, and is currently being evaluated for the potential restart of mining and processing of vanadium.
Current mineral reserves at Windimurra are estimated at 55.0 M tonnes averaging 0.49% V2O5. The reserve is localized within a 6 km section of the Shephards Discordant Zone (“SDZ”). Airborne surveys by Atlantic have traced the SDZ over 20 kms to the south where it enters the Canegrass property (Refer to Figure 2). Atlantic notes that they consider the 20 km area south of the currently suspended mining operation to be highly prospective for V-Fe-Ti mineralization with surface samples returning grades in excess of 0.8% V2O5. As noted above, the 325 historical samples over a 4.5 km length on the Canegrass property, immediately adjacent and south, averages 1.21% V2O5.
Figure 2: Atlantic Vanadium Pty Ltd.:
Vanadium is a key additive used in steelmaking to increase the hardness of steel. Globally, 85% of Vanadium production is used in steel making. Vanadium is also increasingly used in battery production as Vanadium Flow Batteries are gaining increased market share. Many experts believe that Vanadium Flow batteries are the best solution to store electricity in conjunction with alternative energy sources such as wind and solar power, which are intermittent in nature.
“Vanadium is yet another battery metal occurring at our 100% owned Canegrass property, further illustrating the significant prospectivity of mineral exploration in Australia, something we are quite excited about. We look forward to our upcoming drill program commencing later this month, targeting Nickel-Cobalt mineralization, and now will be expanded to include drill testing of this high-grade Vanadium-Titanium-Iron mineralization,” commented Alf Stewart, President of BlueBird Battery Metals.
Analysis of the four recent rock chip samples collected near VTEM TM 13-08, was carried out at SGS Australia Pty Ltd in Perth, Australia, and samples (<3.5 kg) were dried, crushed to -75um for analysis. The samples were then prepared by borate fusion and analysed by XRF for, Al2O3, SiO2, Fe2O3, MgO, MnO, CaO, Na2O, K2O, P2O5, V2O5, TiO2, Cr2O3 and loss on ignition.
Details regarding the collection and analysis of the historical data are unknown at this time, other than samples were collected by Maximus Resources Ltd. in 2007. Bluebird notes that there is no guarantee that the historical results are representative and cannot guarantee that the Company will be able to duplicate the results with future sampling programs.
The technical content of this news release has been reviewed and approved Wes Hanson, P.Geo., a director of the Company and a Qualified Person pursuant to National Instrument 43-101. The qualified person has not yet visited the Canegrass Project, and therefore has not yet verified the data disclosed, including sampling, analytical, and test data underlying the information or opinions contained in the written disclosure.
About Bluebird Battery Metals
BlueBird Battery Metals (TSXV: BATT; US: BBBMF) is a Canadian publicly listed company focused on the global exploration and development of strategic battery metals projects, primarily cobalt, and nickel. BlueBird’s goal is to pursue a business model that offers direct and long-term leverage to the price appreciation in cobalt, nickel and manganese, three principal materials in EV batteries. The Company plans to become a leader in the battery metals sector, as cobalt is currently in a global supply deficit, has a vulnerable supply chain, and is part of an emerging sector with extraordinary potential. BlueBird is currently advancing a portfolio of battery metals focused assets in in Western Australia, New South Wales, Australia, and in the Yukon, Canada, and reviewing new acquisition opportunities to add to the Company’s project portfolio.
On Behalf of the Board of BlueBird Battery Metals Inc.
Peter A. Ball
Chairman and CEO
For more information, please contact 1-855-584-0160 or [email protected].
This news release may contain or refer to forward-looking information based on current expectations, including, but not limited to the Company exploring the Canegrass Ni-Co-Cu Property, the Batt Co-Cu Property and the impact on the Company of these events, including the effect on the share prices. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise such information to reflect new events or circumstances.
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