Battery Minerals completed the acquisition of 100% ownership of Gippsland Prospecting Pty Ltd on 22 October, 2020. Gippsland Prospecting Pty Ltd was granted the Exploration Licence EL6871 located in Western Victoria.

EL6871 is located within the Stawell Gold Corridor. The licence contains the historical Moyston Gold mine which produced 75,000oz at 22 g/t Au, as well as numerous historical gold workings coincident with prospective second and third order fault splays associated with the Moyston Fault. The exploration licence is also approximately 7km from the rich Stawell gold mine which has produced +5Moz of gold.

The 721sqkm licence covers +40km strike of the highly prospective Stavely Volcanics as well as a 65km strike length of the adjacent Stawell Gold Corridor.

The Navarre Minerals Resolution Lode, which continues to deliver strong, consistent grades of gold mineralisation is situated just 6km to the east.

The Stavely magmatic arc is a highly prospective Greenfields target which is prospective for volcanic-hosted base metals mineralisation and large scale Cadia Ridgeway-type porphyry copper mineralization.

The Stavely Minerals Cayley Lode, which continues to produce outstanding Cu, Au, and Ag intercepts, is just 30km to the south-west, while Navarre’s Morning Bill Au-Ag VHMS discovery is located only 7km from the southern boundary of Battery Minerals’ tenement.

Battery Minerals proposes to focus its exploration program on understanding the underlying geology and generating targets through ground and airborne geophysical surveys, geochemical work which includes soil and rock sampling and targeted drilling.

TARGET Grant Agreement for the EL006871 TARGET Grant (Block 4)

Gippsland Prospecting Pty Ltd, a wholly owned subsidiary of Battery Minerals Limited and the Victorian State Government, have signed a TARGET Grant Agreement for $500,000 to support exploration on its Stavely-Stawell Project over 28 months, ending 30 September 2023. (Refer to ASX:BAT announcement dated 1 June 2021).
Battery Minerals acknowledges the Victorian Government for this valuable initiative in support of the Company’s exploration work program.
Below is the proposed work programme approved for EL006871:-

Year 1
The company will engage with the local landholders in the area to access ground for exploration activities, including reconnaissance mapping and surface sampling, low-impact shallow aircore drilling and diamond drilling to test targets at depth. Low-impact shallow aircore drilling will be the majority of drilling activities over the year, with some diamond drilling planned.

The company will compile all available historic data, in addition to cutting-edge high-resolution satellite imagery and LiDAR data as part of a foundation dataset.

The Company will conduct a 200m-line spaced, 3,876-line kilometre airborne geophysical survey. Landholders across the tenement will be notified directly by mail, with media and social media platforms providing regular updates.

Rehabilitation post-drilling activities will be part of the exploration cycle, with drill pads and collars rehabilitated within weeks of completion.

Year 2
The second year of the exploration programme will be driven by results from the previous year. The Company will continue to engage with landholders to obtain land access over areas of interest.

It is envisaged that first pass field reconnaissance will continue to advance in front of low impact aircore drilling. Some infill aircore drilling may be required to fine tune some target areas.

Advanced targets will be tested with diamond drilling. Diamond drilling is part of the TARGET Grant agreement, with core from a number of holes provided to the Victorian Geological Survey Core library.

Rehabilitation post-drilling activities will be part of the exploration cycle, with drill pads and collars rehabilitated within weeks of completion.

Year 3
The third year of the exploration programme will be driven by results from the previous year. The Company will continue to engage landholders to obtain land access over areas of interest.
A similar format of on-the-ground exploration activities can be assumed. A mineral discovery will see a concentrated diamond drilling program to evaluate the economic potential.
Advanced targets will be tested with diamond drilling. Diamond drilling is part of the TARGET Grant agreement, with core from a number of holes provided to the Victorian Geological Survey Core library.

Rehabilitation post-drilling activities will be part of the exploration cycle, with drill pads and collars rehabilitated within weeks of completion.

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