Bitterroot Resources Updates the Status of Its Precious Metals Projects in Nevada

Rhea-AI Summary

Bitterroot Resources Ltd. provides an update on its precious metals exploration in Nevada while progressing on magmatic nickel/copper drilling in Michigan. The Coyote Sinter claims in Elko County have identified promising drilling targets through a CSAMT survey, leading to plans for drilling in late 2022. The Castle claims in Esmeralda County, known for low-grade mineralization, will test for high-grade gold/silver at depth. Both projects have BLM approval for multiple drill sites, contingent on financing and equipment availability.

Positive

• Coyote Sinter project identified resistive targets through CSAMT survey.
• Castle claims targeted for high-grade mineralization in geologically promising areas.
• BLM has approved bonding for up to 33 drill sites across both properties.

Negative

• Drilling is contingent on financing and drill rig availability.

VANCOUVER, BC / ACCESSWIRE / January 20, 2022 / Bitterroot Resources Ltd. (TSXV:BTT) is providing an update on its precious metals exploration activities in the State of Nevada, which have been advancing in addition to the Company's magmatic nickel/copper drilling programs on the LM Property in the Upper Peninsula of Michigan.

The 100%-owned Coyote Sinter claims are located in Elko County, NV, at the south end of the Independence Trend and five miles southeast of the Tuscarora mining camp. In early 2021, Bitterroot's geophysical contractor Zonge International completed a CSAMT survey which identified a resistive brittle dacite layer at the most prospective 200-400 metres depth below the geochemically anomalous sinter horizon. The CSAMT also identified a sub-vertical resistive zone which is coincident with geothermal vents in the sinter horizon which were mapped in the summer of 2021. The Coyote Sinter property is located on Federal, BLM-administered lands. BLM has approved the Company's Notice and accepted bonding for up to 20 drill sites. Drilling of these resistive CSAMT targets and the mineralized "Chevron Fault" is planned for later in 2022, subject to financing and drill rig availability.

The 100%-owned Castle claims are located in Esmeralda County, NV, at the south end of the Gilbert district and 30 miles west of Tonopah, NV. Castle hosts a 1x2 kilometre, argillic-altered and geochemically anomalous hydrothermal system. Previous operators drilled extensive areas of low-grade (0.1-0.3 grams Au/tonne) mineralization in the altered tuffs. Castle is untested for bonanza-grade mineralization at depth, in potential hydrothermal feeder zones below the low-grade mineralized tuffs. Drilling is planned to test for Hishikari-type high-grade gold/silver mineralization at the intersection of sub-vertical gold-mineralized silicified veins and the unconformity between Ordovician Palmetto Formation metasediments and overlying brittle Castle Peak rhyolitic tuffs. The Castle property is located on Federal, BLM-administered lands. BLM has approved the Company's Notice and accepted bonding for up to 13 drill sites. Drilling is planned for later in 2022, subject to financing and drill rig availability.

Additional details on the Coyote Sinter and Castle gold/silver projects are available in slide presentations on the Company's website www.bitterrootresources.com.

Mr. Rick Streiff, CPG, is the Qualified Person responsible for the technical content of this release.

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.

SOURCE: Bitterroot Resources Ltd.

View source version on accesswire.com:
https://www.accesswire.com/684711/Bitterroot-Resources-Updates-the-Status-of-Its-Precious-Metals-Projects-in-Nevada

FAQ

What updates did Bitterroot Resources provide on January 20, 2022?

Bitterroot Resources provided updates on its precious metals exploration activities in Nevada and the magmatic nickel/copper drilling programs in Michigan.

What are the Coyote Sinter claims?

The Coyote Sinter claims are located in Elko County, Nevada, and feature geophysical targets identified for potential mineralization.

What drilling plans are in place for the Castle claims?

Drilling at the Castle claims is planned to test for high-grade gold/silver mineralization, with BLM approval for 13 drill sites.

What risks accompany the drilling plans announced by Bitterroot Resources?

Drilling plans are subject to financing and drill rig availability, introducing potential delays.

What is the significance of the CSAMT survey for Bitterroot Resources?

The CSAMT survey helped identify prospective drilling targets at the Coyote Sinter project, indicating potential for significant mineralization.