Bitterroot Resources Updates the LM Magmatic Nickel-Copper Project

Rhea-AI Summary

Bitterroot Resources Ltd. (TSXV:BTT) has completed its winter drilling program on the LM Property in Michigan, targeting nickel-copper-platinum-palladium mineralization akin to Lundin Mining's Eagle orebodies. The program involved 26 holes, with significant mineralization noted in 10 holes. Key intercepts included 5.38 meters of mineralization in hole LM 22-24 and substantial sulfide textures indicating a dynamic magma conduit environment. Future drilling is planned to target the down-plunge extent of the conduit and other magnetic targets.

Positive

• 10 out of 26 holes showed significant mineralization.
• Key mineralized intervals include 5.38 meters in LM 22-24.
• Potential for further exploration and discovery in the conduit.

Negative

• No specific financial metrics or results reported.
• Current mineralization does not guarantee future discovery.

WEST VANCOUVER, BC / ACCESSWIRE / May 4, 2022 / Bitterroot Resources Ltd. (TSXV:BTT) is providing an update on its recently completed winter 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 10 of the 26 holes completed on the LM Property.

The winter 2022 drilling program at LM was funded by Bitterroot Resources Ltd. (51%) and joint venture partner Below Exploration, Inc. (49%) and consisted of 1,448 metres of drilling in five (5) 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.

Hole LM 22-25 intersected the deepest point yet observed on the basal contact of the intrusion. Peridotite clasts with disseminated and blebby sulphide mineralization were observed entrained in slightly younger unmineralized olivine gabbronorite. These clasts are believed to be eroded from disseminated mineralization deeper in the conduit. This hole also intersected weakly mineralized basal breccia with partially resorbed siltstone clasts derived from the surrounding metasediments. These features are indicative of a magma conduit environment similar to the Eagle East intrusion.

Hole LM 22-26 intersected the edge of the conduit and contained disseminated, blebby and minor semi-massive mineralization. Irregularly shaped "rip-up" clasts of massive sulphide (chalcopyrite, pyrrhotite and pentlandite) up to two centimetres across were observed in the mineralized interval. These sulphide textures are further evidence of a dynamic magma conduit environment. Photographs of the mineralized core samples in LM 22-26 are posted on the Company's website, www.bitterrootresources.com.

The down-plunge extent of the conduit and two other nearby magnetic targets are planned to be targeted following the completion of additional land acquisition activities.

LM Project - Summary of Sulphide-Mineralized Intervals
Hole #	From (m)	To (m)	Interval (m)	Nickel (%)	Copper (%)	Au + PGM (g/tonne)	Type
LM 20-01	253.80	259.10	5.30	0.58	0.62	0.33	disseminated
LM 21-07	270.07	273.00	2.93	0.78	0.83	0.25	disseminated
and	273.00	273.75	0.75	5.16	1.18	0.82	semi-massive
LM 21-10	260.50	262.75	2.25	0.78	0.80	0.40	disseminated
and	262.75	262.94	0.19	2.74	0.43	0.37	semi-massive
LM 21-13	247.68	250.36	2.68	0.33	0.38	0.10	disseminated
and	250.36	250.75	0.39	1.81	0.51	0.52	semi-massive
LM 21-14	235.79	236.06	0.27	1.96	0.01	0.01	semi-massive
and	236.06	236.86	0.80	4.81	0.78	0.25	massive
LM 22-22	256.27	258.86	2.59	0.55	0.48	0.24	disseminated
and	258.86	259.37	0.51	1.33	3.68	0.41	semi-massive
LM 22-23	258.32	260.36	2.04	0.08	0.08	0.03	disseminated
LM 22-24	240.40	245.78	5.38	0.28	0.42	0.05	disseminated
LM 22-25	163.20	165.15	1.95	0.09	0.08	0.02	Disseminated and blebby, in peridotite clasts
and	190.80	192.05	1.25	0.13	0.27	0.11	trace to disseminated
and	318.09	323.09	5.00	0.02	0.02	0.01	sparse blebs

LM 22-26	232.19	234.16	1.97	0.10	0.11	0.02	disseminated
and	234.16	235.16	1.00	0.33	0.35	0.10	blebby
and	235.16	235.52	0.36	1.23	0.75	0.13	blebby and semi-massive

Mr. Glenn W. Scott, CPG, is the Qualified Person responsible for the technical content of this disclosure.

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:
Suite 206-B, 1571 Bellevue Avenue,
West Vancouver, BC, V7V 1A6
Tel 604 922 1351
www.bitterrootresources.com

SOURCE: Bitterroot Resources Ltd.

View source version on accesswire.com:
https://www.accesswire.com/700210/Bitterroot-Resources-Updates-the-LM-Magmatic-Nickel-Copper-Project

FAQ

What were the results of Bitterroot Resources' winter drilling program on the LM Property?

The winter drilling program revealed significant mineralization in 10 out of 26 holes, with the best results being 5.38 meters in hole LM 22-24.

What type of mineralization is being targeted at the LM Property?

The LM Property is being explored for nickel-copper-platinum-palladium mineralization similar to that found in Lundin Mining's Eagle and Eagle East orebodies.

Are there any future plans for drilling at the LM Property?

Yes, future drilling is planned to target the down-plunge extent of the conduit and other nearby magnetic targets.

What is the significance of the LM Property drilling results for investors in BITTF?

The results indicate ongoing mineral potential, but without financial metrics, investors should remain cautious about future outcomes.