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Green Battery Minerals focused on pushing ahead at Berkwood Graphite project in Quebec

Last updated: 14:22 01 Dec 2021 EST, First published: 14:00 01 Dec 2021 EST

Snapshot

  • Green Battery Minerals increases size of its previously announced financing for a second time due to increased demand
  • Full interview: Berkwood Resources agrees in principal to offtake agreement with Carbon 6
Graphite

About the company

Green Battery Minerals Inc holds an advanced graphite project in northern Quebec, in which it has invested over $6 million proving out a resource, and has contracted ProGraphite of Germany to build test batteries to prove that its graphite can be used in making batteries.

The Berkwood Graphite East Block consists of 38 claims covering 2,052 hectares prospective for graphite. Green Battery Minerals holds a 100% interest in the property, as well as an option to earn a 100%-interest in the Berkwood Graphite South Block, which consists of 106 claims totaling 5,714 hectares. The project boasts an NI 43 101 resource of 550,000 tonnes of graphite, which is growing.

The project directly borders Mason Graphite’s significant Lac Guéret Project to the east and south. Mason Graphite’s advanced Lac Guéret Project has an NI 43-101 compliant mineral resource estimate with measured & indicated mineral resources of 67.5 million tonnes grading 17.2% Cgr (Carbon as Graphite), including 9.7 million tonnes grading 31.2% Cgr.

The Berkwood project also shares a similar prospective geological environment as Mason Graphite’s Lac Guéret property, including along strike stratigraphic units and structures. Graphite in the vicinity ranges from 3% to 40% Cg (averaging 20.4% at Mason Graphite’s Lac Guéret Deposit) and exhibits flakes of up to 5 mm in diameter. Large flake graphite is 0.2 mm and above.

Other properties in Green Battery's portfolio are the Cobalt ford property, the Delbreuil lithium property, and the Roscoe vanadium site.

How it is doing

23 Nov 2021

Green Battery Minerals Inc said it has increased the size of its previously announced financing announced on November 9, 2021, and November 16, 2021, for a second time due to increased demand.

The company said it has now increased the number of flow-through units (FL units) to be issued to 16,000,000 for gross proceeds of up to $2.4 million.

It previously said it would issue up to 13,500,000 FL units at a price of $0.15 per FL unit, for gross proceeds of $2.025 million.

Each FL Unit will consist of one common share in the capital of the company that is issued on a flow-through basis in accordance with the Income Tax Act (Canada) and one half of one share purchase warrant, with each whole warrant entitling the holder to purchase one (non-flow-through) common share at a price of $0.20 per warrant share for a period of twenty-four months following issuance.

16 Nov 2021

Green Battery Minerals Inc. (TSX-V:GEM) has increased the size of its previously announced non-brokered private placement from $525,000 to more than $2 million. 

In early November, the company disclosed that it would issue up to 3.5 million flow-through units (FL Units) at $0.15 each for gross proceeds of $525,000.

09 Nov 2021

Green Battery Minerals Inc said it has mobilized a Québec-based contractor for more drilling at zone 1 and zone 6 of its Berkwood graphite project ahead of an updated resource estimate across shallower parts of the zone 1 deposit.

The zone 1 discovery lies 8 kilometres (km) southwest of Mason Graphite’s deposit - currently undergoing a feasibility study - and the firm believes the two share many similar geological characteristics. Green Battery has previously completed four drill programs at zone 1 for 6,085 metres (m) in 44 holes, all of which contained graphite mineralization, with 43 hitting "significant" zones of graphite enrichment, the company noted.

What management says

26 Nov 2019

Berkwood Resources (CVE: BKR) President and CEO Tom Yingling sat down with Steve Darling from Proactive Vancouver to discuss the company agreeing in principle on an offtake agreement with an eastern-based company called Carbon 6.  

Yingling talks about the specific details of this agreement and what Berkwood has planned for the over the next 3-6 months.

Full interview: Berkwood Resources agrees in principal to offtake agreement...

Berkwood Resources (CVE: BKR) President and CEO Tom Yingling sat down with Steve Darling from Proactive Vancouver to discuss the company agreeing in principle on an offtake agreement with an eastern-based company called Carbon 6.   Yingling talks about the specific details of this agreement...

on 26/11/19