- “2022 has been a year of accomplishments,” reported Battery Mineral CEO in year-end summary
- Company anticipates “placing ourselves in a strong position to participate in a robust copper sector in 2023”
- So far this year BMR has announced key community and social initiatives at its Punitaqui Project and completed a policy, strategy and implementation guide
Following a “transformational” year in 2022, Battery Mineral Resources (TSX.V: BMR) (OTCQB: BTRMF) is continuing to see significant growth and progress in 2023. In its 2022 summary to shareholders, the company recounted the year’s highlights and pointed toward an equally successful 2023 (https://ibn.fm/9vH3P).
In the 2022 recap, BMR outlined key accomplishments that included the funding and completion of its Punitaqui resource drill program; key changes designed to strengthen its leadership team and board of directors; strong gains in its permitting program; and an increased focus on strengthening community relations and engaging with communities where it operates. In addition, the company reported that it monetized its noncore assets and secured nondilutive convertible debt and bridge-loan financing.
Finally, the company reported better-than-expected metallurgical results and a robust initial NI 43-101-compliant mineral resource estimate for its four underground deposits at Punitaqui, two of which had not previously had resource estimates (San Andres and Cinabrio Norte).
“2022 has been a year of accomplishments, all of which add to the value of the Punitaqui mine in Chile and also derisk the near-term resumption of operations and cashflow at Punitaqui,” BMR CEO and director Martin Kostuik stated in the 2022 report. “From exploration, engineering, community and permitting successes to realizing several nondilutive means of funding to allow BMR to advance the project, our team looks forward to taking advantage of the renewed positive market sentiment for near-term copper pricing and placing ourselves in a strong position to participate in a robust copper sector in 2023. With several interested parties and due diligence advancing well, we look forward to securing the remainder of the funding required early next year to advance the mine and resume operations of the copper-processing mill shortly thereafter.”
Already this year, Battery Mineral has shown continued momentum with key announcements regarding community and social initiatives at the Punitaqui Project in Chile (https://ibn.fm/THpyJ) and the completion of a policy, strategy and implementation guide for current and future social and community engagement and reporting (https://ibn.fm/4bqJi).
At the Punitaqui Project, BMR completed agreements with the Comunidad Agricola Potrerillos Alto (“Potrerillos Community”) and the Comunidad Agricola Punitaqui (“Punitaqui Community”) to allow for surface exploration consisting of a ground magnetic survey, geological mapping, and sampling to identify potential new targets on grounds for which the Potrerillos Community has surface rights. According to the agreement, BMR personnel and contractors will have permission to access and conduct agreed-upon surface work.
“The agreement also allows BMR to drill the potential targets to be defined within the first stage of exploration,” the company noted. “These areas to be explored have not been previously examined, and ground magnetic surveys have been successfully used in the area as a first step to locating possible new target mineralization. Battery will hire members of the Potrerillos Community to assist in these endeavours at market rates of remuneration. BMR will now be able to follow up on any encouraging exploration results.”
The company outlined key aid and improvements it will provide for the community, including funding the construction of a water well for the people of Potrerillos and supporting payment for the services of the manager of the school nursery of the Cordillera de Potrerillos Alto School, which the company has been paying since September 2022. In addition, BMR is working to establish a community-engagement and meeting office at the Punitaqui copper processing plant site. “The office will allow for all persons in the direct area of influence of our operations to liaise in-person with Battery at their convenience. The company hopes to have this new office in place in the coming weeks.”
Battery Mineral Resources is a battery minerals company providing shareholders with exposure to the global megatrend of electrification while focusing on growth through cash flow, exploration, and acquisitions in favorable mining jurisdictions. Battery Mineral’s mission is the discovery, acquisition and development of battery metals (cobalt, lithium, graphite, and copper) in North America, South America and South Korea and to become a premier and responsible supplier of battery minerals to the electrification marketplace.
For more information, visit the company’s website at www.BMRCorp.com.
NOTE TO INVESTORS: The latest news and updates relating to BTRMF are available in the company’s newsroom at https://ibn.fm/BTRMF
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