Bathurst Metals Applies For Second Diamond Drill Permit Covering New Electromagnetic, Geophysical Trends At The Peerless Gold Project, Bralone Mining Camp Area, B.C And Closes First Tranche Of Non-Brokered Private Placement.
(TheNewswire)
Vancouver, B.C. July24, 2025 – TheNewswire - Bathurst MetalsCorp. (“Bathurst” or the “Company”) is pleased to announce thesubmission to the Ministry of Mines and Critical Minerals, BritishColombia of an additional diamond drilling permit application to covernew electromagnetic anomalies coincident with anomalous gold andmulti-element in soil anomalies. Bathurst currently has a drillpermit in place, however due to the greater extent of untested,coincident geophysical and geochemical anomalies identified in 2024, anew permit application is required to cover all identified targetareas.
KEY POINTS on Permit Application.
New permit area covers same structural/geochemical andgeological settings as current permit.
Application covers over two (2) additional kilometresalong strike.
Bathurst has now identified over eight (8) target areasready for drill testing.
Targets are near-surface, with the proposed drill holesaveraging between100-150m in depth.
PROPERTY GEOLOGICALSETTING
Property has similar lithological and structuralsetting to the Bralorne Mining Camp.
Anomalous soil geochemistry close to listwanite-alteredultramafics.
Higher and more extensive gold in soil values whereinterpretated, brittle-ductile structures cross-cut earlier, lowangle, brittle thrust faults.
Ultramafics are typically a poor host for golddeposits; however, the Company discovered potential economic goldgrades in its 2024 drill program.
Lorne Warner P.Geo, Director, President of BathurstMetals Corp., states, “Bathurst has taken a grass roots, gold project to a drillingstage. Our success in systematic exploration of the property hasreally paid off. We now have a better understanding of the geologicaland structural settings related to the gold-silver and base metalmineralization. ”
Location
The Peerless Property is situated in the historicBralorne-Gold Bridge Mining Camp area in southwest British Columbia(Figure # 1). It has excellent all-season access to its center. Accesscan be had by following Highway 40 east from the hamlet of Gold Bridge10.5 km to the Tyaughton Lake turn-off and following the TyaughtonLake access road within 200m of the Peerless showings at the center ofthe property.
Figure #1- Regional Location Map
As indicated in Figure # 2, the Company’s PeerlessClaims are near known gold mining occurrences with new discoveriescontinuing to be found in the same lithological and structuralgeological settings as the mines. Anomalous gold in soil geochemistry,as displayed in Figure # 2, infers a strong special relationship tothe thrusts related to the ultramafics with a northeast trend.
Figure # 2 – Goldbridge Area Compilation Map
Figure # 3 – Compilation Map outliningelectromagnetic anomalies trending east-west with similar orientationto the Peerless- Beta-Alpha Zone brittle-ductile east-west structure. Anomalous soil geochemistry outlines at least two definitive trends.The north-east trend appears to be related to the brittle deformationby the thrust faults. The more east-west trends are thought to berelated to brittle-ductile structures. Both structures aremineralized, higher gold concentrations are anticipated to occur wherethese structures cross.
Figure # 3 Compilation Map – All assay posted are ingrams/tonne gold.
Click Image To View Full Size
Figure # 4 Outlines the new permit area application aswell as the Company’s existing permit. The map also presents theanomalous gold in soil geochemistry and recently outlinedelectro-magnetic structural features.
Figure # 4 – Plan View of Additional Drill PermitArea Under Application.
Click Image To View Full Size
Figure # 5 Outlines the new permit area underapplication and provides the current road network existing on theproperty which indicates the company has excellent access withpotentially only minor trail construction required to drill testtarget areas.
Figure # 5 New Application Area with ExistingRoads/Trails
The Company is pleased toannounce it has closed the first tranche of its previously announcedprivate placement. The Company issued 2,516,667 Units at a price of $0.075 per Unit for gross proceeds of$188,750. Each unit consists of one (1) common share and one (1)common share purchase warrant of the Company. Each whole sharepurchase warrant entitles the holder, on exercise, to purchase anadditional common share of the Company at a price of $0.15 per sharefor a period of two years from closing. Finders’ fees of 7% cash were paid on a portion of thistranche.
The securities issued are subject to a four-month holdperiod. Proceeds of the private placement willbe used for working capital.
Qualified Person
Mr. Lorne Warner, P.Geo., is a "QualifiedPerson" as defined by National Instrument 43-101 and has approvedthe scientific and technical information included in this news releasefor dissemination.
Onbehalf of the Board of Directors
Bathurst Metals Corp.
For more information contact Harold Forzley, ChiefExecutive Officer
604-783-4273
Neither TSX Venture Exchange nor itsregulation services provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
About Bathurst Metals Corp.
Bathurst MetalsCorp. is anexploration-stage company engaged in the acquisition, exploration, anddevelopment of mineral properties in Nunavut and British Columbia,Canada. The Company holds a 100% interest in the Turner Lake, TED, McGregorLake, Speers Lake, Gela Lake and McAvoy Lake Projects in Nunavut andthe Peerless Property a gold /silver prospect in the historic BralorneCamp in British Columbia.
Copyright (c) 2025 TheNewswire - All rights reserved.
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