Bathurst Metals Announces Start of Drilling
Vancouver, February 13, 2024 - Bathurst Metals Corp. ("Bathurst" or the "Company") (TSXV:BMV) (OTC:BMVVF) is pleased to announce the planned mobilization of Bathurst crews and drill crews for February 16 and 19 respectively to the company's Peerless Property in southwest British Columbia.
The company will commence our first drill project on the Peerless Property on February 19, 2024, targeting gold mineralization in the Beta Zone. Initial plans are for three (3) drill holes for a total of 600m. The Beta Zone is an area of historical exploration that discovered a blind zone of high-grade gold mineralization in 1987. The 1987 drill program intercepted several gold occurrences with the best results of 1.02 oz/tonne over 15 ft, including 1.87 oz/tonne over 5 ft. No other test drilling has occurred since 1987, and the mineralization encountered remains open along strike and at depth.
The Company also announces the final results of its private placement financing of flow-through and non flow-through units originally announced on October 31, 2023. The Company issued an aggregate of 4,025,000 flow-through units and 1,150,000 non flow-through units for gross proceeds of $494,500. The Company paid cash finders fees of $26,915 on a portion of the offering and issued a total of 267,700 finders warrants, exercisable for $0.10 to acquire one common share for a period of one year. All securities issued in the private placement are subject to a four month hold period.
Mr. Gregory Bronson, P.Geo., is a "Qualified Person" as defined by National Instrument 43-101. Mr. Bronson has approved the scientific and technical information included in this news release for dissemination..
On behalf of the Board of Directors
For more information contact Harold Forzley, Chief Executive Officer
Neither 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.
About Bathurst Metals Corp.
Bathurst Metals Corp. is an exploration-stage company engaged in the acquisition, exploration, and development of mineral properties in Nunavut and British Columbia, Canada. The Company holds a 100% interest in the Turner Lake, TED, McGregor Lake, Speers Lake, Gela Lake and McAvoy Lake Projects in Nunavut and the Peerless Property a gold /silver prospect in the historic Bralorne Camp in British Columbia.
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