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    BWR   CA05606A1049

BWR EXPLORATION INC.

(BWR)
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BWR Exploration Inc. Announces receipt of Assays Regarding Four Exploratory Drill Holes Completed Earlier This Summer on Its Wholly-Owned Vend˘me Sud Property, Located in the Abitibi Region of Northern Quebec

09/20/2021 | 11:15am EST

BWR Exploration Inc. announced receipt of assays regarding four exploratory drill holes completed earlier this summer on its wholly-owned Vendôme Sud Property, located in the Abitibi Region of Northern Quebec, approximately 30 km. north of Val d'Or. The recent drill program by BWR was designed to investigate and confirm historical nickel and copper mineralization at various locations on the property. The program confirmed nickel and copper mineralization of sufficient grade that warrants further exploration. The best assay interval of 6.75m averaging 0.59% copper and 0.56% nickel at a vertical depth of about 50 metres was encountered in the first hole. BWR is currently planning a follow-up exploration program, that may include additional ground and down-hole geophysical surveys, as well as petrographic examination of selected drill core to investigate the mineralizing event. BWR successfully validated the two holes that were drilled in 1962 by Canadian Shield Corporation Inc., where the earlier results are comparable to the recent drill results of holes BWR-V-21-01 and BWR-V-21-02 by BWR. Nearby, (approximately 100 metres north) a fairly deep (150m + +) magnetic anomaly that had been interpreted as a mafic or ultramafic intrusive has also been confirmed and is anomalous in nickel, this intrusive may be the heat source for the observed alteration in the region. BWR's third hole explored this geophysical anomaly to about 200 meters vertical depth. Hole BWR-V-21-03 encountered 6 meters of anomalous nickel values (0.14% over 6 meters). The historical "C Zone" is located approximately 1 km to the west of the "A Zone" where drilling in 1963, by Canadian Shield, identified similar mineralization for the "C Zone" as at the "A Zone". BWR completed hole BWR-V-21-04 at the approximate location of the earlier hole, confirming the tenor of mineralization encountered in 1963 by Canadian Shield. Assay results and discussion for Holes BWR-V-21-01 and BWR-V-21-02. These two holes were drilled in the "A-zone" attempting to replicate and/or confirm historic results from DDH 5-62-5 and 62-13 drilled by Canadian Shield in 1962. BWR's first two holes intersected what appears to be a steeply dipping volcanic assemblage of rhyolite intercalated with intermediate to mafic metavolcanics. The mafic components appear moderately chloritized with pervasive quartz-carbonate veining. Relatively wide zones of moderate mineralization were encountered in holes BWR-V-21-01 and BWR-V-21-02 of 37.8m in hole 01 and 11.1m plus 22.1m in hole 02. These measurements are down hole core measurements, not true widths. Hole BWR-V-21-01 was drilled at a dip of -50 degrees, bearing 205 degrees (SW) being a similar attitude to historical hole DDH 5-62-5 reportedly drilled 50 years earlier. The first hole by BWR intersected a pervasive mineralized package with intriguing assays of 0.34% Cu and 0.27% Ni over a drill length of 37.8 metres consisting of variably altered and mineralized ultramafic volcanics (66.75m to 73.5m that assayed 0.59% Cu and 0.56% Ni), weakly mineralized and altered rhyolite (79.8m to 88.9m), variably mineralized and altered mafic volcanics (88.9m to 103.3m), the hole ended in relatively poorly mineralized rhyolite at 201 metres. Hole BWR-V-21-02 was drilled at a dip of -60 degrees, bearing 205 degrees (SW) undercutting the previous hole (BWR-V-21- 01). In this hole the drill intersected an interpreted down dip extension of the mineralized package encountered in the first hole. It is described as containing pervasive mineralization between 79.9m to 91m representing 11.1 metres in drill core length that assayed 0.42% Cu and 0.27% Ni and 116m - 121.6m representing 5.6m in drill core length that assayed 0.29% Cu and 0.19% Ni. The mineralized zone consists of variably disseminated to semi-massive mineralized ultramafics (85.5m to 91m that assayed 0.55% Cu and 0.4% Ni), as well as a variably mineralized rhyolite from 91m to 117.3m, followed by weak to variably mineralized ultramafics from 117.3m to 122.7m. The second hole ended in poorly mineralized rhyolite at 252 metres. This exploratory hole was drilled at a dip of -65 degrees, bearing 220 degrees (WSW), designed to intercept a geophysically- rendered aeromagnetic high coincident with an excess mass (gravity) anomaly, akin to an ultramafic intrusive, interpreted as being related to the mineralized mafic-ultramafic lenses observed in holes BW-V-21-01 and 02, located approximately 100 meters south. This hole intersected a sequence of mafic (gabbro/peridotite) to ultramafic (komatiite) volcanics, intercalated with granodiorite and other felsic intrusives /tuffs and schists (diorite, granodiorite, rhyolite), ending in a rhyolite tuff at a final drill hole length of 261 meters. Sulphide mineralization was observed to be brecciated and mostly within quartz-carbonate and carbonate stringers and veinlets, suggestive of remobilization into the volcanic sequence. A short 6m section of core between 102m and 108m returned anomalous assays of 0.06% Cu and 0.14% Ni. Assay results and discussion for Hole BWR-V-21-04 Approximately one kilometer to the west of the "A zone" is the "C zone". Hole BWR-V-21-04 was designed to test historic "C Zone" mineralization encountered in 1963 drill hole C-63-1 that included 5.5 feet grading 0.77% Ni + 0.65% Cu. Hole BW-V-21- 04 was drilled at a dip of -45 degrees, bearing 205 degrees (SW) being the reported attitude of hole C-63-1. BWR's hole intersected a series of rhyolite tuffs intercalated and intruded by intermediate to mafic units, followed by an ultramafic assemblage of komatiite and peridotite. Mineralization in this hole appeared very similar to the mineralization observed in the first two holes located 100 metres east. Hole BWR-V-21-04 intersected 14.7 meters of mineralization between 90 and 104 metres of core length that assayed 0.15% Cu and 0.18% Ni, including 2.9 meters (between 101.2m and 104.1 that assayed 0.46% Cu and 0.48% Ni. Sampling protocol and security Minroc Management Limited's senior geologist Francis R. Newton (B.Sc.) as project geologist, was tasked with managing this drill project, working alongside Sahil Alurkar (M.Sc.). All samples were selected by Mr. Newton and Mr. Alurkar. Core was logged and cut in a secure site, owned and operated by Services MNG, in Val d'Or, Québec. Minroc Management Limited rented a core shack from Services MNG where Minroc geologists logged the core. Samples were cut with a diamond saw by Services MNG staff, under the supervision of Francis R. Newton, P. Geo, and half of the core for each sample interval placed in labelled plastic bags along with a sample tag for each individual sample. Samples were delivered to ALS Minerals in Val d'Or at the end of the program. Once at the lab, the samples were tested using "ME-ICP41a - Intermediate Level Aqua Regia" for multi-element analysis.


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Financials
Sales 2020 - - -
Net income 2020 -0,62 M -0,49 M -0,49 M
Net cash 2020 0,34 M 0,27 M 0,27 M
P/E ratio 2020 -3,00x
Yield 2020 -
Capitalization 3,04 M 2,43 M 2,41 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees -
Free-Float 89,1%
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Managers and Directors
Neil D. Novak President, Chief Executive Officer & Director
Victor Johan Hugo Chief Financial Officer
Norman E. Brewster Non-Executive Chairman
Earl S. Coleman Independent Director
Felix Lee Independent Director
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