Green Bridge Metals Corporation Announces Completion of Geophysical Study at South Contact Zone Properties
Vancouver, September 4, 2024 - Green Bridge Metals Corp. (CNSX: GRBM) ("Green Bridge" or the "Company") is pleased to announce the completion of a geophysical study of the Oxide Ultramafic Intrusions (OUI) at the Skibo and Wyman-Siphon prospects within the South Contact Zone (SCZ) (Figure 1) that host titanium-copper-nickel-vanadium mineralization. Based on a positive correlation between mineralization and the OUIs, the Company has contracted Geotech LTD to conduct a 721 line kilometer VTEM survey in Q4 of this year. The new VTEM survey will focus on developing drill targets through the acquisition of new geophysical data for the Titac - Boulder prospect areas, which do not have a modern geophysical survey. David Suda, CEO stated: "The Company's recent site visit and re-interpretation of existing data has increased our confidence that the properties in the SCZ (South Contact Zone) in Minnesota are well mineralized. It is a rare opportunity to see such clear, yet underexplored targets in an area with historically rich polymetallic endowment. We look forward to rapidly and continuously advancing the Company's leverage to the increasing global demand for 'green metals'".
The geophysical analysis has yielded positive results for identifying OUI bodies through a combination of magnetic and Virtual Time Domain Electro Magnetics (VTEM) geophysical methods. Along the SCZ, OUIs consistently yield significant TiO2-V-Cu+Ni mineralization where they are intersected in drilling. This study serves to highlight the geophysical expression of OUIs at Wyman-Siphon and Skibo where known massive and disseminated copper (Cu)- nickel (Ni) mineralization occurs. Several new OUI targets were developed based on this geophysical evaluation at the Wyman-Siphon and Skibo prospects (Figure 2) and are considered high priority drill targets.
Detailed Discussion:
Results of the geophysical data analysis at the Wyman-Siphon area shows that historical drilling within two of the newly identified OUI regions yielded intercepts of 0.6 - 2.4% copper (Cu) and 0.22 - 0.45% nickel (Ni) over a variety of thicknesses. At the Skibo prospect, historical drilling within previously identified OUIs yielded intercepts of 2.0 - 3.8% Cu and 1.0 - 6.4% Ni over a variety of thicknesses. Substantial ground within the Skibo prospect, host to several VTEM conductive anomalies, remain untested at Skibo.
At the Titac South prospect, a historical TiO2 mineral resource exists with disseminated Cu-Ni-V mineralization accompanying the TiO2 (see August 25, 2024, News Release). Titac North also contains historical intercepts of TiO2- Cu-Ni-V mineralization. Both Titac South and Titac North are associated with relative magnetic high zones in the geophysical data. Importantly, another magnetic high zone has been identified at Titac East to the southeast of Titac South on the Titac property (Figure 3). Though similar in its magnetic response to known mineralization at Titac, this area has not been drill tested. Based on the findings above, the Company believes a VTEM survey over the Titac and Boulder prospect areas will highlight new drill targets along the Southern SCZ. The Company looks forward to informing the market of its drill plans based on a comprehensive analysis of historical and newly commissioned VTEM surveys in due course.
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Figure 1. Regional location map showing geology (MGS State Map Series S-21 2011), infrastructure, and neighboring Cu-Ni-PGE (+/- TiO2-V2O5) deposits. The Titac area includes the Titac North and Titac South prospects.
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Figure 2. Side by side maps of the magnetics (left) and VTEM (right) over the Wyman-Siphon and Skibo properties. New OUI targets (pink polygons) as well as historically interpreted OUI (blue polygons) are shown.
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Figure 3. Regional magnetics map of the Southern SCZ (Minnesota Geological Survey) showing the Titac and Boulder prospects along with historic drill intercepts at their respective locations.
The historical MRE for the SCZ was calculated prior to the implementation of the standards set forth in NI 43-101 and current CIM standards for mineral resource estimation. Resource definitions, terminology, and reporting standards have changed significantly since these series of reports. The estimates in these reports are all considered historical in nature and a QP has not done sufficient work to evaluate these resources as current resources. Therefore, the Company and the authors of this report are treating these estimates as historical in nature.
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QP Statement:
Michael Dufresne, M.Sc., P.Geol., P.Geo., is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the scientific and technical information in this press release.
ON BEHALF OF GREEN BRIDGE METALS,
"David Suda"
President and Chief Executive Officer
For more information, please contact:
David Suda
President and Chief Executive Officer
Tel: 604.928-3101
investors@greenbridgemetals.com
About Green Bridge Metals
Green Bridge Metals Corporation (formerly Mich Resources Ltd.) is a Canadian based exploration company focused on acquiring 'battery metal' rich mineral assets and the development of the South Contact Zone (the "Property") along the basal contact of the Duluth Intrusion, north of Duluth, Minnesota. The South Contact Zone contains bulk-tonnage copper-nickel and titanium-vanadium in ilmenite hosted in ultramafic to oxide ultramafic intrusions. The Property has exploration targets for bulk-tonnage Ni mineralization, high grade Ni-Cu-PGE magmatic sulfide mineralization and titanium.
Forward Looking Information
Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to: the exploration and development of the South Contact Zone Properties; and the VTEM survey planned for Q4 of this year.
Although management of the Company believe that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking statements or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These risk factors include, but are not limited to: the exploration and development of the South Contact Zone Properties may not result in any commercially successful outcome for the Company; risks associated with the business of the Company; business and economic conditions in the mining industry generally; changes in general economic conditions or conditions in the financial markets; changes in laws (including regulations respecting mining concessions); and other risk factors as detailed from time to time.
The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Certain figures and references contain information supported by public and corporate references that may have been updated, changed, or modified since their referenced date. The Company has not reviewed any resources and cannot comment on their accuracy.
References:
1Farrow, D., Johnson, M., (2012), January 2012 National Instrument 43-101Technical Report on the Titac Ilmenite Exploration Project, Minnesota, USA. SRK Consulting (Canada) Inc. SRK Project Number 2CC031.004. Cardero Resources Corp.
2DeMatties, T.A., (2020). Encampment Minerals, Inc., 2020 Winter Drilling Program at the Skibo (North) Property, St. Louis County, Minnesota, Technical Report. Encampment Minerals Inc.
3DeMatties, T.A. (2012). Encampment Minerals Inc., Duluth Copper-Nickel-PGM Exploration Program Boulder Lake North Property, St Louis County Minnesota, Technical Report (unpublished). Encampment Minerals Inc.
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