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    BWR   CA05606A1049

BWR EXPLORATION INC.

(BWR)
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BWR Exploration Inc. Confirms Intriguing Nickel and Copper Mineralization At Its Wholly-Owned Vend˘me Sud Project, Abitibi Region of Quebec

08/11/2021 | 07:59am EST

BWR Exploration Inc. announce that four exploratory drill holes totaling 929 metres of drilling have been completed on its wholly-owned Vendôme Sud Property, located in the Abitibi Region of Northern Quebec, located in Fiedmont Township, a few kilometres west of the town of Barraute, being 30 kilometres north of Val-d’Or. The property consists of 17 lot claims totaling 712.34 hectares, hosting the historic Vendôme No. 2 Nickel /Copper mineral occurrence, (aka Mogador) first tested by drilling in the 1960s. The recent drilling by BWR has confirmed that the property hosts intriguing Nickel-Copper mineralization, warranting further exploration. Some of the best historical drill intervals on the property were reported on the “A Zone” where hole DDH 5-62-5 reportedly intersected 3 feet of 2.65% Ni and 0.65% Cu, while nearby hole 62-13 reportedly intersected 8.3 feet of 0.9% Ni and 0.47% Cu. BWR completed two holes attempting to replicate and/or confirm these two holes that were drilled in 1962 by Canadian Shield Corporation Inc., that partially defined the “A Zone”. Nearby, (approximately 100 metres north) there was a fairly deep (150m + +) magnetic anomaly that had been interpreted as a mafic or ultramafic intrusive, BWR’s third hole explored this geophysical anomaly to about 200 meters vertical depth. 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”. Canadian Shield hole C-63-1, according to MERN records, includes a mineralized interval of 5.5 feet grading 0.77% Ni and 0.65% Cu. BWR completed one test hole at this location attempting to replicate and/or confirm the 1963 drill results at the “C Zone”. This confirmatory hole was drilled in the “A-zone” to replicate and/or confirm historic results from DHD 5-62-5 and 62-13. This hole was drilled at a dip of -50 degrees, bearing 205 degrees (SW) being a similar attitude to hole 62-5 drilled 50 years earlier. This hole intersected several intervals of copper and nickel sulphides. The drill intersected mineralized package is described as about 36.5 metres in drill length, consisting of variably mineralized mafic volcanics (66.8m to 79.8m), weakly mineralized rhyolite (79.8m to 88.9m), variably mineralized mafic volcanics (88.9m to 103.3m), the hole ended in relatively poorly mineralized rhyolite at 201 metres. Observed mineralization includes: chalcopyrite, pentlandite, pyrrhotite, pyrite with minor sphalerite, confirmed by localized mineralogical observations supported by a Niton XRF analyzer for base metals. 65 samples were selected for analysis from this hole, assays will be released once available. This confirmatory hole was drilled at a dip of -60 degrees, bearing 205 degrees (SW) undercutting the previous hole (BWR-V-21-01). The drill intersected mineralized package is described as about 40.7 metres in drill core length, consisting of variably disseminated to semi-massive mineralized ultramafics (82m to 89.5m), variably mineralized to semi-massive mineralized rhyolite (89.9m to 117.3m), weak to variably mineralized ultramafics (117.5m to 122.7m). The hole ended in poorly mineralized rhyolite at 252 metres. Observed mineralization includes chalcopyrite, pentlandite, pyrrhotite, pyrite with minor sphalerite, confirmed by localized mineralogical observations supported by a Niton XRF analyzer for base metals. 66 samples were selected for analysis from this hole, assays will be released once available. 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 well 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. Observed sulphide mineralization includes pyrite, pyrrhotite, as well as traces of sphalerite, chalcopyrite and pentlandite (confirmed by Niton XRF analyzer), within brecciated quartz-carbonate stringers and veinlets, or as fine stringers and clots within fractures. 84 samples were selected for analysis from this hole, assays will be released once available. Approximately one kilometer to the west of the “A zone” is the “C zone”. This hole 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, as well as a conductive high. Hole BW-V-21-04 was drilled at a dip of -45 degrees, bearing 205 degrees (SW). The hole intersected a series of rhyolite tuffs intercalated and intruded by intermediate to mafic units, then into an ultramafic assemblage of komatiite and peridotite. Mineralization in this hole is similar to the mineralization observed in the first two holes located 100 metres east, although in hole 21-04, mineralization appears thinner (only about 6.4 metres) from 97.1 metres – 103.5 metres, with the strongest mineralization present from 101.2-104.1 metres where there is 1-5% clotty disseminated sulfide within carbonate stringers/veinlets as well as occasional semi-massive stringers. Niton XRF spot testing of the core confirms the presence of Ni, Cu, Zn and Co in semi-massive sulfide stringers. 107 samples were selected for analysis from this hole, assays will be released once available. Neil Novak (P.Geo.), President of BWR, visited the project early in the program and met with the project team to view the first hole together and discuss plans for the next few holes. Minroc Management Ltd.’s senior geologist Francis R. Newton (B.Sc.) as project geologist, was tasked with managing this drill project, working alongside Sahil Alurkar (M.Sc.). Mr. Francis Newton, P.Geo (OGQ#2129), in collaboration with Mr. Novak are responsible for and have reviewed the technical disclosure of this release. BWR Exploration Inc. is a public company focused on exploring for base and precious metals, with its flagship Little Stull Lake Gold Project in NE Manitoba along with other exploration projects in Northern Ontario, and Northern Quebec, Canada. Management of BWR includes an accomplished group of exploration/mining specialists with many decades of operational experience in the junior resource sector in Canada and abroad. There are 101,442,461 shares currently issued.


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Financials
Sales 2020 - - -
Net income 2020 -0,62 M -0,48 M -0,48 M
Net cash 2020 0,34 M 0,26 M 0,26 M
P/E ratio 2020 -3,00x
Yield 2020 -
Capitalization 3,04 M 2,38 M 2,37 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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