Battle Mountain Gold Inc. Announces Gold-Silver Results from Drill Holes
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Vancouver, February 21st, 2017 - Battle Mountain Gold Inc. (the "Company") (TSX-V: BMG) is pleased to announce assay results from two core drill holes completed at the Lewis gold-silver property, which lies near the town of Battle Mountain in Nevada, and provide an update as to the exploration program.
Highlights:
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-Five easterly-inclined core drill holes completed to date in the Virgin and Buena Vista - Meagher areas for a total of 2047 m with final assay results received for the entirety of the program. Final assay results, including several high-grade gold intervals, from the program's first two drill holes were released on 10th of November, 2016. An additional 601 m of core drilling has been completed since this news release.
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-The following gold-silver drill results from the Buena Vista and Meagher areas are interpreted as leakage from gold-rich target zones at depth, localized by the intersection of steeply westerly dipping faults with the favorable stratigraphic units that host Au-Ag-Cu mineralization at Newmont's Phoenix mine, located immediately to the south.
BVM16C-02 -
37.8 m at 0.25 g/t Au and 6.2 g/t Ag from 6.1 m;
11.7 m at 0.20 g/t Au and 15.4 g/t Ag from 293.2 m;
4.7 m at 0.68 g/t Au and 21.9 g/t Ag from 329.8 m; and
17.7 m at 0.15 g/t Au and 16.7 g/t Ag from 373.1m.
These Au-Ag intervals 1 are supported by anomalous As (to 2100 ppm), Pb (to 0.8 %) and Zn (to 1.7 %) in sample intervals that are typically 1.6 m wide.
BVM16C-03 -
1.8 m at 0.57 g/t Au and 29.5 g/t Ag from 33.3 m;
9.9 m at 0.24 g/t Au and 25.3 g/t Ag from 308.8 m;
12.8 m at 0.31 g/t Au and 5.8 g/t Ag from 382.5 m; and
> 7.3 m at 0.16 g/t Au and 8.9 g/t Ag from 503.8 m (open at depth).
The Au-Ag intervals 1 are supported by anomalous As (to 4440 ppm), Pb (to 1.8 %) and Zn (to 1.8 %) in sample intervals that are typically 1.6 m wide.
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-The fifth drill hole, BVM16C-03, was suspended at 511 m due to poor weather on the 12th of January, 2017. This hole will be completed to a target depth of about 700 m when drilling resumes in the spring.
"The recent drilling has improved our understanding of the geometry of high-grade Au-Ag targets in the areas adjacent to Newmont's Phoenix mine in the southwestern part of our extensive Battle Mountain Trend property holdings. Importantly, these targets have never been tested by previous explorers. The anomalous drill results to date place the Company in a strong position to make a discovery after drilling resumes in the spring.", stated Chet Idziszek, President of the Company.
2017 Focus:
In 2017, the Company's plans include the trenching and drilling of the northeasterly extension of the near-surface Virgin zone (Figures 1 and 3; refer to Company's news release of 10th November, 2016). A six-hole 3600 m drill program will focus on determining the gold-bearing fault geometry and testing the intersections of the major west-dipping, mineralized faults with Antler Sequence rocks (Figures 4 to 6). The deep intersection of the down-dip portion of the Virgin fault with the ore-controlling, Copper Canyon and Echo faults will be drill-tested, as well as the northerly strike continuation of the geological setting for the high-grade gold-silver Fortitude / Phoenix mine. Plans for a second phase of drilling to test mineralized fault intersections with favorable host-rocks located beneath the Golconda Thrust will include a 3200 m program, which is scheduled for the latter part of 2017. Mapping and geological sampling will continue in the southwestern and northern portions of the property and include the new claims staked in 2016. Geochemical surface anomalies located near Antimony King, Apex, Trinity and Circle Peak will be advanced through soil sampling and trenching, as required.
Additional Information:
This news release provides an update as to drill program progress and future plans for exploration at the Lewis gold-silver project (Figure 1). The release also illustrates the location of the current drill area with respect to gold-silver-copper mineralization in the Fortitude - Copper Canyon area to the south (Figure 2) and presents the Company's exploration model for the southern portion of the property (Figure 3). The news update includes gold, silver and pathfinder element results and the geometry of mineralized faults and prospective rock units from two drill holes in the Buena Vista and Meagher zones (Figures 4, 5 and 6). These holes include BVM16C-02, which is inclined about 48o towards N74o E and completed to a down-hole depth of 599.2 m, and BVM16C-03, inclined about 71o towards N88o E and drilled to 511.2 m. Poor weather conditions led to the suspension of BVM16C-03 on the 12th of January. This hole will resume in the spring to test for favorable target rocks that lie beneath the Golconda Thrust for an expected final hole depth of about 700 m. The anomalous gold-silver drill results are illustrated in Figures 5 and 6 and stated in the highlights of this news release.
A total of 2047 m of drilling were completed in five core holes over the Virgin, Buena Vista and Meagher zones in the later part of 2016 and early 2017. Difficult rock conditions and poor weather contributed to reduced drilling rates and BVM16C-02 was lost due to repeated collapse of clay-rich fault zones. When the drill program resumes in the spring, after road conditions and access to the drill site have improved, drilling will be conducted using reverse-circulation (RC) pre-collars and core tails. This combination of methods should improve drilling rates and facilitate the completion of drill holes to target depths. An additional 3600 m of drilling is allocated for the completion of this program with plans for a second phase of drilling to exceed 3200 m.
The drilling results from the two core holes that tested the Buena Vista, Meagher, Silver and adjacent faults indicate anomalous gold-silver-arsenic-lead-zinc results (Figures 5 and 6), which are inferred to indicate fault-controlled leakage from the prospective Antler Sequence rocks that lie beneath the Golconda Thrust. These units host the Fortitude gold-silver deposit and Phoenix mine operations of Newmont that occur directly to the south of the drill area. Figure 3 illustrates the Company's exploration model for the current drill area and highlights the importance of geochemical leakage along west-dipping faults that cut through the overlying Havallah cherts and argillites to form high-grade Au-Ag mineralization in reactive host-rocks that lie beneath the Golconda Thrust, as evidenced by the Fortitude deposit and a historic drill intersection of 17 m at 5.9 g/t Au from 776 m in FWL-30 2, located in the southwestern portion of the Lewis property (Figure 1).
Qualified Person
Steve Garwin PhD, FAIG, FAusIMM, FSEG and Director of Battle Mountain Gold Inc. is a qualified person, as defined by NI 43-101. He is responsible for the preparation of the technical information in this press-release.
The six figures referred to in this news-release are also posted on the Company website (www.battlemtngold.com).
To find out more about Battle Mountain Gold Inc. please visit our website at www.battlemtngold.com.
On behalf of the Board of Directors of
"Chet Idziszek"
Chet Idziszek, President
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 release.
This news release includes and is qualified by the Cautionary Statements following.
Cautionary Statements
This document contains "forward-looking statements" within the meaning of applicable Canadian securities regulations. All statements other than statements of historical fact herein, including, without limitation, statements regarding exploration plans, related financing plans, and our other future plans and objectives, are forward-looking statements that involve various risks and uncertainties. Such forward-looking statements include, without limitation, estimates of exploration investment, the scope of exploration programs, and statements about financings not yet arranged or completed. There can be no assurance that such statements will prove to be accurate, and future events and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations are disclosed in the Company's documents filed from time to time via SEDAR with the Canadian regulatory agencies to whose policies we are bound. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and we do not undertake any obligation to update forward-looking statements should conditions or our estimates or opinions change, other than as required by law. Forward-looking statements are subject to risks, uncertainties and other factors, including risks associated with mineral exploration, the capital markets, price volatility in the mineral commodities we seek, and operational and political risks. Readers are advised not to place undue reliance on forward-looking statements.
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2 Descriptions of the mineralized zones and tables of drill-hole assay results can be found in a 43-101 report dated March 2014 titled AMENDED AND RESTATED SUMMARY REPORT 2007-2008 CORE AND REVERSE CIRCULATION DRILLING PROGRAM, F.W. LEWIS PROPERTY, BATTLE MOUNTAIN MINING DISTRICT, LANDER COUNTY, NEVADA, USA, (the "2014 43-101 Report") filed on SEDAR under the Company's profile and also on the Company's website under Investor Info/Articles, Agreements and Reports.
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11 Analyses by ALS Minerals (Reno - Vancouver) using an atomic absorption finish for gold fire-assay (30 g charge, Au-AA23) and four-acid digestion with atomic absorption and ICP-MS finishes for silver (Ag-AA61 and ME-MS61). Anomalous intervals calculated using a cut-off of 0.10 g/t Au and internal dilution of up to 3.1 meters.
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