Bitterroot Resources Intersects Additional Nickel-Copper-PGM Mineralization and Expands the LM Property
Bitterroot Resources Ltd. (OTC PINK: BITTF) announced a significant discovery at its LM nickel-copper-PGM project in Michigan, with drill hole LM 21-10 intersecting 2.1 meters of mineralization. The mineralization includes chalcopyrite, pentlandite, and pyrrhotite, with assay results expected in 8-10 weeks. Additionally, the company has expanded its property through a Memorandum of Understanding that allows for the purchase of 280 acres, facilitating further exploration. This acquisition is partially funded by Bitterroot (51%) and Below Exploration (49%).
- Discovery of 2.1 meters of mineralization in drill hole LM 21-10.
- Expansion of LM Property by acquiring 280 acres through a MOU.
- None.
Bitterroot Resources Intersects Additional Nickel-Copper-Pgm Mineralization
LM Property Expanded via Mou on 280 Acres
VANCOUVER, BC / ACCESSWIRE / March 24, 2021 / Bitterroot Resources Ltd. (TSXV:BTT)(OTC PINK:BITTF) 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
LM 21-10
From (m) | To (m) | Interval (m) | Logged Rock Type | Cpy (est.%) | Po (est.%) | Py (est.%) | Estimated Total Sulphides (%) |
260.50 | 261.37 | 0.87 | Peridotite | 1 | 2 | trace | 3 |
261.37 | 262.75 | 1.38 | Feldspathic Peridotite | 3-4 | 5-6 | 1 | 9-10 |
262.75 | 262.94 | 0.19 | Semi-Massive Sulphide | 1 | 32 | 2 | 35 |
2.44 | Weighted Average | 2-3 | 6-7 | 1 | 9-10 | ||
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. (
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
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.
Contact Information:
Bitterroot Resources Ltd.
Suite 206-B, 1571 Bellevue Avenue,
West Vancouver, BC, V7V 1A6
Tel: (604) 922-1351
www.bitterrootresources.com
SOURCE: Bitterroot Resources Ltd.
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FAQ
What does Bitterroot Resources' recent drilling reveal at the LM project?
When are assay results expected from the recent drilling at LM project?
What is the significance of the recent MOU signed by Bitterroot Resources?
What minerals were found in drill hole LM 21-10?
What percentage of the LM project is funded by Bitterroot Resources?
