WEST VANCOUVER, BC / ACCESSWIRE / March 3, 2021 / Bitterroot Resources Ltd. (TSXV:BTT) reports that the third hole of its 2021 winter drilling program at the LM nickel-copper-PGM project (LM 21-07) has intersected an estimated true thickness of 3.55 metres of sulphide mineralization, with the sulphides consisting of chalcopyrite, pentlandite, pyrrhotite and pyrite. The mineralized interval consists of an estimated true thickness of 0.5 metres of semi-massive sulphides that are overlain by an estimated true thickness of 3.05 metres of disseminated sulphide mineralization. The latter occurs mainly as interstitial chalcopyrite and pyrrhotite grains and blebs similar to the mineralization previously intersected in hole LM 20-01 (see news release dated August 24, 2020). Assay results are expected in 6-8 weeks. A description of the mineralized intervals is provided in the table below. A 3-dimensional model of the drill holes and photos of the mineralized intervals in both holes are posted on www.bitterrootresources.com.
LM 21-07
From (m) | To (m) | Interval (m) | Logged Rock Type | Cpy (est.%) | Po (est.%) | Py (est.%) | Estimated Total Sulphides (%) |
268.45 | 270.07 | 1.62 | Olivine-melagabbro | 0.1 | 1 | 1 | 2.1 |
270.07 | 270.41 | 0.34 | Peridotite | 1 | 2 | 1 | 4 |
270.41 | 271.87 | 1.46 | Peridotite | 1 | 2 | 1 | 4 |
271.87 | 273.00 | 1.13 | Peridotite | 4 | 5 | 3 | 12 |
273.00 | 273.75 | 0.75 | Semi-Massive Sulphide | 8 | 50 | 22 | 80 |
268.45 | 273.75 | 5.30 | Weighted Average | 2.36 | 9.13 | 4.40 | 15.88 |
3.55 | Estimated True Thickness |
Cpy = chalcopyrite, Po = pyrrhotite, Py = pyrite
Hole LM 21-07 intersected the sulphide-bearing mineralized interval some 54 metres laterally from the mineralization intersected in LM 20-01, at approximately the same elevation. Hole LM 21-09 is currently being drilled to test approximately 80 metres down plunge from the mineralization intersected in holes LM 20-01 and LM 21-07. Although the other three holes drilled this winter (LM 21-04, 05 and 08) exited the intrusion above the mineralized zone, they provide valuable information regarding the geometry of the LM magma conduit.
Encouraging aspects of hole LM 21-07 are;
At 271.9 metres down hole, ultramafic rocks host what appears to be a clast of massive chalcopyrite which is interpreted as a "rip-up" clast from deeper in the conduit.
the sulphide mineralization is hosted by intrusive breccia, which suggests proximity to the keel of the flattening LM intrusion, where massive sulphides would be expected to accumulate,
Down-hole magnetic surveys show strong, localized magnetic variability immediately below the mineralized intervals in LM 20-01 and LM 21-07, suggesting the potential for additional magnetic bodies nearby,
Differentiated sulphide-bearing intervals suggests that the LM conduit had a long thermal history which allowed fractionation into chalcopyrite-rich and pyrrhotite-rich phases.
Exploration of the LM Project is being funded by Bitterroot Resources Ltd. (51%) and privately-owned joint venture partner Below Exploration Inc. (49%). Bitterroot and Below are currently drilling the fifth hole of the 2021 winter drill program, which is planned to comprise up to 2,400 meters of core drilling in 6 to 8 holes, before spring break-up.
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.
SOURCE: Bitterroot Resources Ltd.
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