|January 13, 2014|
Michigan Exploration Update
|Bitterroot Resources Ltd. (TSX-V: BTT) has completed a detailed gravity survey on its Target H and has completed land acquisition on its Target F. Both are nickel-copper-PGM targets located on the Company's 100%-owned mineral rights in the Upper Peninsula of Michigan. |
Bitterroot's geophysical contractor, Quadra Surveys has completed an 800-station gravity survey on Target H. The survey covers 1.5 square miles of Bitterroot's mineral rights which are adjacent to drill holes completed by Rio Tinto in 2012 on its leased mineral rights (see attached map). The gravity survey covers approximately 40 line-kilometres, with survey lines spaced 100 metres apart and survey stations spaced at 25 and 50 metre intervals on 80% of the survey area and 100 metre intervals for the remainder. From the results received to date, a 900 metre-long residual Bouguer gravity response has been derived which is anomalous to ~1.0 milligal. This response is adjacent to a strong southwest-dipping Pulse EM conductor and an aeromagnetic high. The residual gravity response suggests excess mass exists down dip on the southwest-dipping Pulse EM conductor. Target H is prospective for mafic intrusion-hosted Ni-Cu-PGM mineralization which may occur near its basal contact, or within associated magma conduits or feeder zones. The geological setting of Target H is similar to that of Lundin Mining's Eagle mine, which hosts JORC-compliant proven + probable ore reserves of 5.3 million tonnes grading 3.1% Ni and 2.5% Cu (source: www.lundinmining.com). Bitterroot has received all required permits and management expects to drill-test Target H within the next 60 days.
In late December, the Company completed the acquisition of 160 acres of privately-owned mineral rights adjacent to its wholly-owned and leased mineral rights. Target F hosts a 1.5 milligal residual Bouguer gravity high and coincident aeromagnetic low, which is interpreted to represent a pipe-like mafic intrusion. A Pulse EM survey has defined a weak conductive zone on the north side of the gravity/magnetic feature. Target F is also prospective for conduit-hosted Ni-Cu-PGM mineralization similar to the Eagle mine and management also plans to drill-test Target F within the next 60 days.
Mr. Jules Lajoie, Ph.D, P.Eng is the Qualified Person responsible for the content of this news release.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael S. Carr
Neither 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 release.
FORWARD LOOKING STATEMENTS: This document contains statements about expected or anticipated future events and/or financial results that are forward-looking in nature and as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, regulatory processes and actions, technical issues, new legislation, competitive conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events and the company's ability to execute and implement its future plans. Actual results may differ materially from those projected by management. For such statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities Legislation Reform Act of 1995.
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