BeMetals' New Core Results Confirm Expanded Footprint of Copper Mineralization and Satellite Target Zones at Pangeni Copper Project, Zambia

Rhea-AI Summary

BeMetals Corp. (BMTLF) has announced significant expansion of copper mineralization at its Pangeni Copper Project in Zambia through recent core drilling results. The D-Prospect's footprint now extends approximately 3 kilometers, with the higher-grade Nkala Zone showing multiple promising drill intersections.

Key findings include:

• Nkala Zone: D12-C1 intersected 21.52 metres grading 0.30% copper
• Nkala Zone Extension: F4-C3 intersected 9.10 metres grading 0.11% copper
• Central Target: CT4 intersected 31.50 metres grading 0.10% copper

The D-Prospect's mineralization footprint is now comparable to the Lumwana Mine's Chimiwungo Deposit, with copper grades and mineralized widths meeting or exceeding those of certain large-scale copper mines in the Zambian Copperbelt. The company plans to conduct follow-up core drilling in Q1 2025.

Positive

• Significant expansion of copper mineralization footprint to 3 kilometers
• Multiple high-grade copper intersections in Nkala Zone
• Mineralization comparable to large-scale Lumwana Mine's Chimiwungo Deposit
• Fully funded follow-up drilling planned for Q1 2025

Negative

• Some drill holes (D27-C1 & C2) showed disrupted mineralization due to structural features
• Several intersections show relatively low-grade copper content (0.10-0.11%)

VANCOUVER, BC / ACCESS Newswire / January 22, 2025 / BeMetals Corp. (TSXV:BMET)(OTCQB:BMTLF)(Frankfurt:1OI.F) (the "Company" or "BeMetals") is pleased to announce the recently completed core drilling program has confirmed the significantly expanded footprint of the D-Prospect copper mineralization and its related target zones at the Pangeni Copper Project ("Pangeni" or the "Project" or the "Property") in Zambia.

These new drilling results include an anomalous core intersection of copper mineralization, strongly motivating follow-up drilling, at hole F4-C3 some 1.3-kilometres southwest and along trend of the D-Prospect's Nkala Zone. To date, the Company has discovered and traced copper mineralization with core drilling from immediately under the sand cover for some 1.7 kilometres, and the combined trend extent of the D-Prospect, including the new F4-C3 target mineralization, is now approximately 3 kilometres. Within the D-Prospect the higher-grade Nkala Zone has multiple drill intersections with copper grades and mineralized widths that meet or exceed those of certain large-scale copper mines in the Domes Region of the Zambian Copperbelt ^{(1) (2) (3)}.

In addition, this recent core drilling has intersected a relatively lower-grade but wide zone of 31.50 metres at the Central Target, approximately 8 kilometres to the southeast of the D-Prospect, motivating follow up drilling at this satellite prospect.

Highlights OF RECENT H2 AND H1 2024 CORE DRILLING PROGRAM:

• Nkala Zone: D12-C1 intersected 21.52 metres grading 0.30% copper ("Cu"), including 7.70 metres grading 0.35% Cu and including 6.96 metres grading 0.34% Cu.

• Nkala Zone Extension Target: Some 1.3 kilometres along trend from the main Nkala Zone, drill hole F4-C3 intersected a zone of 9.10 metres grading 0.11% Cu with associated kyanite and scapolite alteration similar to the D-Prospect's Nkala Zone.

• Central Target: CT4 intersected 31.50 metres grading 0.10% Cu with additional anomalous zones above and below this intersection.

• D-Prospect Nkala Zone (H1 2024 Drilling*): Hole D24-C1 intersected 16.16 metres grading 0.74% Cu with 533 parts per million "ppm" cobalt ("Co"), including 5.50 metres grading 0.93% Cu with 701ppm Co. Hole D11-C3 intersected 23.20 metres grading 0.54% Cu with 263ppm Co, including 7.90 metres 0.92% Cu with 453ppm Co. Hole D22-C2 intersected 14.78 metres grading 0.42% Cu, including 4.88 metres grading 0.65% Cu and D22-C1 intersected 18.10 metres grading 0.70% Cu. (*Previously reported)

John Wilton, President and CEO of BeMetals, stated "We are pleased to report the latest core drilling program has returned results indicating that the discovered D-Prospect copper mineralization and its target zones, at the Pangeni Copper Project have been significantly expanded. Following the recent drilling, the overall scale of the D-Prospect copper mineralization and its target footprint are now comparable to that of the Lumwana Copper Mine's Chimiwungo Deposit. The mineralization is now interpreted to extend for some 3 kilometres along trend for the Nkala and Nkala Zone Extension with the additional target zones of Nkala Northwest and R Target in close proximity. These recent H2 2024 results combined with the H1 2024 drill intersections of the Nkala Zone, advance and reinforce the potential for the Pangeni project to deliver a large-scale copper discovery.

Furthermore, a wide zone of over 30 metres of anomalous copper mineralization has been intersected in drill hole CT4 at the Central Target, some 8 kilometres to the southeast of the D-Prospect area. This new interval with its associated alteration indicates that further exploration of the Central Target is motivated, and the Company's geological team will compile its existing data since 2016 for this prospect with the new drill information to guide future targeting. The Company expects to update its detailed geological interpretation of both the D-Prospect and Central Target with the recent drilling results shortly and plans to conduct a fully funded follow-up phase of core drilling to commence in Q1, 2025. Overall, the 2024 results have increased the scale potential and improved our understanding of the discovered copper mineralization at the Pangeni Project, and we look forward to commencing drilling shortly."

PANGENI COPPER PROJECT: RECENT CORE DRILLING RESULTS AND D-PROSPECT BACKGROUND

Figure 1 illustrates the comparable footprint scale of the drilled D-Prospect copper mineralization that includes the Nkala Zone, and its related target zones, to that of the Lumwana Mine's Chimiwungo Deposit. The distribution of these targets zones and the core drilled copper mineralization bears spatial similarity to that of the Barrick Gold's Lumwana Copper Mine with its mineralized shoots (zones) at the Chimiwungo Deposit. Within the D-Prospect the higher-grade Nkala Zone has multiple drill intersections (such as previously reported D24-C1, D22-C1, D22-C2, D11-C3) with copper grades and mineralized widths that meet or exceed those of certain large-scale copper mines in the Domes Region of the Zambian Copperbelt ^{(1) (2) (3)}. In addition to these similarities the copper mineralization at the D-Prospect-Nkala Zone bears many of the geological hallmarks of the Lumwana Mine deposits in terms of mineralization style, alteration, structure and host rocks.

Figure 1: Same Footprint Scale of Expanded D-Prospect Mineralization & Target Zones Compared to the Lumwana Copper Mine Chimiwungo Deposit with Selected H2 2024 Drilling Results (*Equinox Lumwana Project, Technical Report, Zambia, May 2011 and Geology of Lumwana Mine, Porter Geo-consultancy Field Guide 2014, Barrick)

Drillhole F4-C3 with its important anomalous intersection of 9.10 metres at 0.1% copper appears to follow an extension of the currently interpreted trend of the D-Prospect mineralization some 1.3 kilometres southwest of the Nkala Zone. This new target zone will be further tested in the next drilling program in 2025. In addition, both the Nkala Northwest and R target zones have thus far only been tested by single core drill holes (see Figure 2) and merit further priority investigation. These compelling targets in close proximity to the Nkala Zone will be tested in the next phase of core drilling.

It is currently thought that the D27 line drill holes (D27-C1 & C2) have been influenced by a structure feature causing an offset or local disruption to the mineralization, as seen in the magnetic data in this specific area (see Figure 1 and Figure 2). Such potentially similar features are also observed at the Lumwana Mine locally disrupting the mineralized shoots such as the ‘South Fault Zone' (see inset map of Figure 1).

Figure 1 also shows the location of new drillhole CT4 which was completed at the Central Target and returned an interval of 31.50 metres grading 0.1% copper. This wide zone of anomalous copper mineralization adds significant value to the limited amount of previous drilling completed by the Company at the Central Target. CT4 and the previous drilling at this target are reminiscent of the geological and grade interval results initially found at the D-Prospect. Which with subsequent interpretation led to the drilling of the Nkala Zone, with its copper grades and mineralized widths that meet or exceed those of certain large-scale copper mines in the Domes Region of the Zambian Copperbelt ^{(1) (2) (3)}. The project team will review this new intersection with the other geological data at the Central Target to determine optimum targets for further testing at this compelling prospect.

Figure 2 provides in more detail the core drilling results from the H1 and H2, 2024 drilling at the D-Prospect with previous drilling by the Company on the projects magnetic survey data. Recently completed drillhole D12-C1 has confirmed the development of the Nkala Zone in its northeastern sector with its interval of 21.52 metres grading 0.30% copper, including 7.70 metres grading 0.35% Copper and including 6.96 metres grading 0.34% copper.

Figure 2: Locations of Core Drill Holes with Target Zones, D-Prospect-Nkala Zone and Aircore Drilling

The results of core drilling at the D-Prospect to date have identified copper mineralization over 1.7 kilometres along trend, and show the higher-grade Nkala Zone, developed within the overall 1.7 kilometres envelope, for some 1.2 kilometres. Some of these previously reported Nkala Zone intercepts include:

D24-C1: 16.16m grading 0.74% Cu with 533 ppm Co, including 5.50m grading 0.93% Cu with 701ppm Co

D22-C1: 18.10m grading 0.70% Cu, with 285 ppm Co, including 4.00m, grading 1.04% Cu and 4.60m grading 0.89% Cu

D22-C2: 14.78m grading 0.42% Cu, including 4.88m grading 0.65% Cu

D11-C3: 23.20m grading 0.54% Cu with 263ppm Co, including 7.90m 0.92% Cu with 453ppm Co

D14-C2: 31.50m grading 0.33% Cu, including 17.10m grading 0.40% Cu

Table 1 below provides the recent H2 2024 phase core hole results with depth, sample interval, and copper grades.

Table 2 below provides azimuth, dip, end of hole depth and collar coordinates for the new core drill holes.

⁽¹⁾ First Quantum Minerals Ltd. website, Mineral Reserves - as at December 31, 2023, and reported based on a long-term $3.00/lb Cu price. The current depleted in-pit Mineral Reserve as at December 31, 2023 for Sentinel.

⁽²⁾ Barrick Gold Corporation website, Mineral Reserves - December 31, 2013, Technical Report on the Lumwana Mine, North-Western Province, Republic of Zambia, Barrick Gold Corporation, Report for NI 43-101, March 27, 2014.

⁽³⁾ Bernau, R., Roberts, S., Richards, M., Nisbet, B., Boyce, A., Nowecki, J. (2013) The geology and geochemistry of the Lumwana Cu (± Co ± U) deposits, NW Zambia. Mineralium Deposita, 48:137-153.

PANGENI COPPER PROJECT: OVERVIEW
The Pangeni Project copper mineralization, discovered by the Company, is a westerly extension of the Copperbelt concealed under relatively thin but extensive Kalahari sand cover. Importantly, the copper mineralization bears many of the hallmarks in terms of style, width, grade, and geology to deposits that are mined in the Domes Region of the Zambian Copperbelt, specifically the basement hosted, large scale Lumwana Copper Mine (see Figure 3). The open pit Sentinel Copper Mine, operated by First Quantum Minerals Ltd., is located approximately 130 kilometres northeast of the Pangeni Project and currently represents the westernmost copper mine of the Domes Region within the prolific Zambian Copperbelt (see Figure 3).

Figure 3: Map Showing Selected Large Scale Copper Mines and Projects in Zambia and DRC

Source: Modified after MacIntyre, T., Gysi, A., Hitzman, M., (2018). Geology and Geochemistry of the Kansanshi Cu-Au deposit, Zambia.

Table 1: H2 2024 Core Drill Hole Results with Depth, Sample Interval, and Copper Grade

Target/Line, Borehole ID & Interval	From (m)	To (m)	Core Interval (m)	Cu%
F4-C3
Interval	151.50	160.60	9.10	0.11
Including	151.50	154.20	2.70	0.20
D12-C1
Interval	164.20	170.20	6.00	0.29
Nkala Zone	264.88	286.40	21.52*	0.30
Including	265.50	273.30	7.80	0.35
And including	279.44	286.40	6.96	0.34
D17-C1
Interval	218.23	220.47	2.24	0.39
Interval	227.55	237.40	9.85	0.18
D11-C4	269.35	281.57	12.22	0.12
D27-C2
Interval	284.41	286.83	2.42	0.30
Interval	299.00	304.74	5.74	0.19
Including	299.80	303.10	3.30	0.25
CT4
Interval	12.32	23.10	10.78	0.11
Interval	68.11	72.00	3.89	0.14
Interval	86.50	118.00	31.50	0.10
Including	103.70	105.70	2.00	0.25
Interval	128.10	132.10	4.00	0.19
Interval	174.00	177.20	3.20	0.20

Table 1 Notes: Intertek Genalysis completed the analytical work with the core samples processed at their preparation facility in Kitwe, Zambia.All analytical procedures were conducted in an Intertek Genalysis laboratory in Perth, Australia. Reported widths are drilled core lengths as true widths are unknown at this time. Based upon current data it is estimated true widths range between 85 and 90% of the drilled intersections. A nominal cut-off grade of 0.10% Cu has been used to determine the boundaries of these intersections with no more than 15.80 metres of internal dilution of the intercepts. *A nominal cut-off grade of 0.25% Cu has been used to determine the boundaries of these intersections with no more than 7.81 metres of internal dilution of the intercept.

Table 2: Pangeni Project: H2 2024 Core Drill Holes ID, Azimuth, Dip, End of Hole Depth, Collar Coordinates and Comments

Drill Hole ID	Azimuth Degree	Dip Degree	End of hole Depth (m)	Easting (m)	Northing (m)	Elevation (m)	Comments
F4-C3	300	-60	362.00	175825	8600182	1330	Nkala Extension target anomalous Cu intersection
D12-C1	300	-60	324.40	177359	8601110	1315	Nkala Zone intersection in northeast of D-Prospect
D17-C1	300	-60	334.50	178029	8601452	1301	Interpreted as anomalous zone at margin of Nkala Zone
D11-C4	300	-70	379.50	176696	8601372	1330	Nkala Northwest target anomalous Cu intersection
D27-C1	300	-70	346.20	176395	8600960	1340	Did not intersect target zone. No significant results
D27-C2	300	-70	387.20	176633	8600811	1327	Did not intersect main target zone. Anomalous zone intersected
CT4	320	-60	225.40	182948	8597928	1209	Central target wide anomalous Cu zone interval

QUALITY ASSURANCE AND QUALITY CONTROL
The results from the 2024 core drilling program were completed by Remote Exploration Services ("RES") who managed all aspects of the field operations in-line with the standard operating procedures as previously and consistently implemented at this project. The samples were analyzed by Intertek Genalysis, an independent and accredited laboratory. Samples were prepared at their facility in Kitwe, Zambia and analytical work conducted in Australia. The results were determined using multi-acid, near total digest, and analyzed by Inductively Coupled Plasma ("ICP") Optical (Atomic) Emission Spectrometry ("OES"). The core sampling was conducted with a robust sampling protocol that included the appropriate insertion of standard reference material, duplicates, and blanks into the sample stream. Field operations and management have been provided by RES an independent geological consulting and contracting company. The core drilling was conducted by Blurock Mining Services, of Kitwe, Zambia.

QUALIFIED PERSON STATEMENT
The technical information in this news release for BeMetals has been reviewed and approved by John Wilton, CGeol FGS, CEO and President of BeMetals, and a "Qualified Person" as defined under National Instrument 43-101.

ON BEHALF OF BEMETALS CORP.

"John Wilton"

John Wilton
President, CEO and Director

For further information about BeMetals please visit our website at bemetalscorp.com and sign-up to our email list to receive timely updates, or contact:

Derek Iwanaka
Vice President, Investor Relations & Corporate Development
Telephone: 604-928-2797
Email: diwanaka@bemetalscorp.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking statements" and "forward-looking information" (as defined under applicable securities laws), based on management's best estimates, assumptions and current expectations. Such statements include but are not limited to, statements with respect to future exploration, development and advancement of the Kazan Projects in Japan and the Pangeni Project in Zambia, and the acquisition of additional base and/or precious metal projects. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "expected", "budgeted", "forecasts", "anticipates", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those expressed or implied by such statements, including but not limited to: the actual results of exploration activities, the availability of financing and/or cash flow to fund the current and future plans and expenditures, the ability of the Company to satisfy the conditions of the option agreement for the Pangeni Project, and changes in the world commodity markets or equity markets. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The forward-looking statements and forward-looking information are made as of the date hereof and are qualified in their entirety by this cautionary statement. The Company disclaims any obligation to revise or update any such factors or to publicly announce the result of any revisions to any forward-looking statements or forward-looking information contained herein to reflect future results, events or developments, except as require by law. Accordingly, readers should not place undue reliance on forward-looking statements and information. Please refer to the Company's most recent filings under its profile at www.sedarplus.ca for further information respecting the risks affecting the Company and its business.

SOURCE: BeMetals Corp.

View the original press release on ACCESS Newswire

FAQ

What are the latest copper drilling results at BMTLF's Pangeni Project?

The latest drilling results include D12-C1 intersecting 21.52 metres grading 0.30% copper in the Nkala Zone, F4-C3 intersecting 9.10 metres grading 0.11% copper in the Nkala Zone Extension, and CT4 intersecting 31.50 metres grading 0.10% copper at the Central Target.

How large is the copper mineralization footprint at BMTLF's D-Prospect?

The D-Prospect's copper mineralization footprint now extends approximately 3 kilometers along trend, including the Nkala Zone and Nkala Zone Extension.

When will BMTLF begin its next phase of drilling at Pangeni?

BeMetals plans to commence its next phase of fully funded follow-up core drilling in Q1 2025.

How does BMTLF's Pangeni Project compare to other copper mines in Zambia?

The D-Prospect's mineralization footprint is comparable to the Lumwana Mine's Chimiwungo Deposit, with copper grades and mineralized widths meeting or exceeding those of certain large-scale copper mines in the Zambian Copperbelt.