South Star Battery Metals Announces Drilling & Exploration Program Update for Alabama Graphite Project and Geophysics Program for Santa Cruz Mine
- Drilling 10-15 holes (HQ);
- Logging & Assays;
- QA/QC Program with Blanks, Duplicates and Standards;
- Background Water Quality Testing;
- Geotechnical Drilling / Installation of a Piezometer to Monitor Groundwater Levels; &
- Drill Pad Construction and Reclamation.
In addition, the Company is preparing to mobilize a geophysics contractor to perform approximately 4-5 linear kilometers of geophysics to test the limits of the priority drilling targets at the Santa Cruz Mine in Bahia, Brazil prior to beginning the 2023 drilling program. The proposed deliverables and schedule of the 2022/2023 exploration programs follow:
- Alabama Graphite Project Exploration Program Update
- Maiden DDH Drilling Campaign (Sept-Oct 2022)
- Maiden 43-101 Technical Report & Maiden Resource Estimate (Q1 2023)
- 2000m Drilling Campaign (Q2/Q3 2023)
- Santa Cruz Mine Exploration Program Update
- Geophysics Campaign (Q3/Q4 2022)
- 4000 - 5000m Drilling Campaign (Q2/Q3 2023)
Richard Pearce, CEO of South Star, said, "We are excited to get the maiden drilling campaign started in Alabama and test the extents of the mineralization. This initial drilling campaign will be focused on testing limits and generating significant targets for the 2023 drilling campaign, which will ultimately result in a Preliminary Economic Assessment ("PEA"). The Company anticipates the PEA will be completed by Q4 2023. At Santa Cruz, the geophysics program should help us improve our drilling hit rate and test limits of the 10-15 near-term targets we have previously identified in preparation for the 2023 drilling campaign, which is scheduled to begin after the rainy season in 2023. The Santa Cruz 2023 campaign will be a mix of diamond and RC drilling, and the proposed meters would significantly increase the total meters into the Project. Our goals are to generate a significantly larger resource and reserve estimate to support our future Phase 2/3 expansion plans. We are eager to get the drills turning as we scale our upcoming production."
South Star Battery Metals Corp. is a Canadian battery metals project developer focused on the selective acquisition and development of near-term production projects in the Americas. South Star's Santa Cruz Graphite Project, located in Southern Bahia, Brazil is the first of a series of industrial and battery metals projects that will be put into production. Brazil is the second-largest graphite-producing region in the world with more than 80 years of continuous mining. Santa Cruz has at-surface mineralization in friable materials, and successful large-scale pilot-plant testing (>30t) has been completed. The results of the testing show that approximately 65% of Cg concentrate is +80 mesh with good recoveries and 95%-99% Cg. With excellent infrastructure and logistics, South Star is carrying its development plan towards Phase 1 production projected in Q3 2023.
South Star's next project in the development pipeline is a project in Alabama located in the middle of a developing electric vehicle, aerospace and defence hub in the southeastern United States. The Project is a historic mine active during World Wars I & II. Trenching, sampling, analysis and preliminary metallurgic testing has been completed. The testing indicated a traditional crush/grind/flotation concentration circuit achieved grades of approximately 96-97% with approximately 86% recoveries. South Star is executing on its plan to create a multi-asset, diversified battery metals company with near-term operations in strategic jurisdictions. South Star trades on the TSX Venture Exchange under the symbol STS, and on the OTCQB under the symbol STSBF.
South Star is committed to a corporate culture, project execution plan and safe operations that embrace the highest standards of ESG principles based on transparency, stakeholder engagement, ongoing education and stewardship. To learn more, please visit the Company website at http://www.southstarbatterymetals.com.
This news release has been reviewed and approved by Richard Pearce, P.E., a "Qualified Person" under National Instrument 43-101 and President and CEO of South Star Battery Metals Corp.
On behalf of the Board,
Mr. Richard Pearce
Chief Executive Officer
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Neither the 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 press release.
This press release contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements". Forward-looking statements in this press release include, but are not limited to, statements regarding: moving Santa Cruz into production and scaling operations as well as advancing the Alabama project; and the Company's plans and expectations.
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.
SOURCE South Star Battery Metals Corp.
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