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Vancouver, BC / TheNewswire / November 10, 2016 - Battle Mountain Gold Inc. (the "Company") (TSX-V: BMG) is pleased to announce assay results from the first two core drill holes completed at the Lewis gold-silver property, which lies near the town of Battle Mountain in Nevada, and provide an update as to the exploration program.
Highlights:
-Four easterly-inclined core drill holes completed to date in the Virgin and Buena Vista - Meagher areas for a total of 1446 m 1; assay results received for the entirety of the first two holes and portions of the third and fourth drill holes.
-Final gold-silver results returned from two core drill holes in the Virgin area:
V16C-01 -
2.0 m at 11.3 g/t Au and 7.25 g/t Ag from 116.1 m, including 1.2 m at 17.9 g/t Au from 116.1 m; 16.6 m at 0.86 g/t Au and 10.6 g/t Au from 162.2 m; and
1.7 m at 3.36 g/t Au and 8.83 g/t Ag from 207.9 m.
V16C-02 -
0.5 m at 16.0 g/t Au and 106 g/t Ag from 89.9 m;
8.3 m at 2.01 g/t Au and 16.0 g/t Ag from 136.2 m, including 2.0 m at 5.93 g/t Au and 42.4 g/t Ag from 140.4 m; and
3.7 m at 2.02 g/t Au and 15.1 g/t Ag from 163.3m, including 0.8 m at 6.13 g/t Au and 44.9 g/t Ag from 166.1 m.
-Visual and partial assay results from BVM16C-01 in the western Virgin area and BVM16C-02 in the Buena Vista - Meagher area support 3D models of mineralized faults and prospective rock units and indicate potential leakage from mineralized zones at depth.
-Fifth drill hole, BVM16C-03, started on November 5th with the aim to test the Meagher and Silver fault zones.
-Recent mapping, rock- and soil-sampling, and reinterpretation of historic drill data indicates that gold-silver mineralization in the Virgin zone has the potential to extend more than 800 m to the northeast and east of the area of drilling by previous explorers.
-Lewis project supported by joint technical team consisting of senior geological personnel from Battle Mountain Gold and Gold Standard Ventures.
Further Information:
This news release provides an update as to exploration progress at the Lewis gold-silver project (Figure 1). The update includes assay results returned from the first two drill holes in the Virgin zone; a summary of the geometry of mineralized faults and prospective rock units intersected in two drill holes completed in the western Virgin and Buena Vista - Meagher areas; and the potential for a greater than 800 m extension of Virgin gold-silver mineralization to the north and northeast of the area drilled previously (Figures 2 and 3). Final gold and silver results have been received for the first two diamond drill-core holes completed in the Virgin zone (Figures 3 to 5). These holes include V16C-01, which is inclined an average of 54o towards N97o E and completed to a down-hole depth of 299.3 m (982 ft) and V16C-02, inclined 48o towards N74o E and drilled to 241.4 m (792 ft). The anomalous gold-silver results are summarized in Table 1 and stated in the highlights of this news-release. Those intervals that lie above down-hole depths of 130 m in V16C-01 and 137 m in V16C-02 are characterized by oxide minerals; those intervals that lie below these down-hole depths contain sulfide minerals.
Table 1: Anomalous gold-silver intervals in V16C-01 and 02 that exceed 0.5 g/t Au (including up to 2.9 m of internal dilution).
--------------------------------------------------------- |Hole ID |From (m)|To (m)|Length (m)|Au (ppm)|Ag (ppm)| |-------------------------------------------------------| |V16C-01 | | | | | | |-------------------------------------------------------| | |116.1 |118.1 |2.0 |11.3 |7.25 | |-------------------------------------------------------| |including:|116.1 |117.3 |1.2 |17.9 |4.10 | |-------------------------------------------------------| | | | | | | | |-------------------------------------------------------| | |124.1 |132.2 |8.1 |0.73 |17.5 | |-------------------------------------------------------| | | | | | | | |-------------------------------------------------------| | |135.9 |141.5 |5.6 |1.20 |13.0 | |-------------------------------------------------------| | | | | | | | |-------------------------------------------------------| | |143.8 |146.9 |3.1 |0.76 |10.4 | |-------------------------------------------------------| | | | | | | | |-------------------------------------------------------| | |162.2 |178.7 |16.6 |0.90 |10.6 | |-------------------------------------------------------| |including:|162.2 |173.4 |11.2 |0.81 |11.6 | |-------------------------------------------------------| | |176.3 |178.7 |2.4 |1.70 |14.9 | |-------------------------------------------------------| | | | | | | | |-------------------------------------------------------| | |207.9 |209.6 |1.7 |3.36 |8.83 | |-------------------------------------------------------| | | | | | | | |-------------------------------------------------------| |V16C-02 | | | | | | |-------------------------------------------------------| | |89.9 |90.4 |0.5 |16.0 |106 | |-------------------------------------------------------| | | | | | | | |-------------------------------------------------------| | |104.4 |107.3 |2.9 |1.30 |15.8 | |-------------------------------------------------------| | | | | | | | |-------------------------------------------------------| | |129.0 |130.5 |1.5 |0.72 |9.95 | |-------------------------------------------------------| | | | | | | | |-------------------------------------------------------| | |136.2 |144.5 |8.3 |2.01 |16.0 | |-------------------------------------------------------| |including:|140.4 |142.4 |2.0 |5.93 |42.4 | |-------------------------------------------------------| | | | | | | | |-------------------------------------------------------| | |163.3 |167.0 |3.7 |2.02 |15.1 | |-------------------------------------------------------| |including:|166.1 |166.9 |0.8 |6.13 |44.9 | ---------------------------------------------------------
Analyses by ALS Minerals (Reno - Vancouver) using atomic absorption and gravimetric finishes for gold fire-assay (30 g charge, Au-AA23 and Au-GRA21) and four-acid digestion with atomic absorption and gravimetric finishes for silver (Ag-AA61 and Ag-AA62).
The analysis of duplicate pulp samples and coarse residue samples collected from the gold-silver intervals stated in Table 1, including the fire-assay of > 75-micron and < 75-micron material screen-sieved from split and pulverized replicate samples, indicate higher gold results in the coarser size-fraction than in the finer size-fraction. This variability is consistent with the presence of gold > 75 micron in mean-diameter within those analyzed core samples that typically contain > 5 g/t Au. The occurrence of such 'coarse gold' can lead to assay grade variability between samples and in adjacent drill-holes in the same mineralized zones.
Figures 4 and 5 indicate the spatial relationships between the gold intervals from the current core drill program and the reverse-circulation (RC) and core holes completed by Madison Minerals Inc. between 2003 and 2008 2. These historic results support the high-grade gold potential of the Virgin fault system. The two recently completed core holes crossed the target structures at higher angles than the 2003 to 2008 holes. This has resulted in interval lengths for the recent drilling as reported in Table 1 to be less than for the 2003 - 2008 Madison holes, which is in accordance with our expectations.
The results of recently completed geological mapping of newly completed trenches and geochemical rock-sampling in the northern and eastern portions of the Virgin area indicate northerly-trending and steeply west-dipping faults that are characterized by rock-chip Au results that range up to 53.4 g/t Au (Figures 2 and 3). Preliminary soil sample results from this area show anomalous Au-Ag-As-Bi-Pb results over an area of more than 800 m (north-south) by 200 m (east-west). This prospective area has never been drill-tested. Targets within this area will be refined by more detailed soil sampling.
Two core holes, BVM16C-01 and 02 / 02A, were recently completed to the west of the Virgin fault system and in the Buena Vista - Meagher area (Figures 2 and 3). Hole BVM16C-01, inclined an average of about 65o towards N65o E and completed to a down-hole depth of 305.7 m (1003 ft), tested the upper portion of the intersection between the northerly strike-extension of the Copper Canyon - Echo - "K" fault zone with the west-northwesterly-striking South Domain fault and fracture zone, which is intruded by Tertiary andesite dikes. Partial assay results from this hole indicate a 9.7 m (30 ft) zone of 0.15 g/t Au from 141.4 m (464 ft). This interval also returns anomalous silver (up to 27.3 ppm Ag) and arsenic (up to 179 ppm As). These gold and pathfinder element results are inferred to be indicative of leakage from zones of higher gold-grade at depth, where the dike-filled fault-intersection zone cuts the more prospective Battle Formation of the lower Antler Sequence and the underlying Harmony Formation. Final assays from the entirety of hole BVM16C-01 have yet to be returned from ALS Minerals.
Hole BVM16C-02 was designed to drill about 55o towards N75 o E to test the upper portions of the Silver and Meagher fault zones and the down-dip projections of the Buena Vista, Copper Canyon - Echo and related fault zones (Figures 2 and 6). This drill hole encountered significant drilling challenges, characterized by caving of the hole within the Buena Vista fault zone. It was necessary to cement the lower portion of the hole, reduce the core size (HQ to NQ) and wedge-off at a depth of 421 m (1382 ft) to bypass the collapsed zone. This allowed the modified hole (BVM16C-02A) to reach a depth of 599.4 m (1966.5 ft), prior to another collapse that led to the decision to terminate the hole in the Battle Formation. The majority of the assay results from BVM16C-02 / 02A have yet to be returned from the laboratory. Selected intervals rushed from sulfide mineral-bearing samples in the Buena Vista fault zone show maxima of 0.38 g/t for Au, 33.5 ppm for Ag, 561 ppm for As, 0.8 % for Pb and 1.7 % for Zn for sample intervals that average about 1.4 m (4.5 ft).
The most recent hole, BVM16C-03, was collared on November 5th and designed to test the down-dip extents of the Silver and Meagher faults, near their inferred intersections with the Antler Limestone and Battle Formation (Figure 6). As of November 9th, this hole was at a down-hole depth of 111 m (364 ft) and hosted by the Havallah Formation.
Chet Idziszek, President of Battle Mountain Gold Inc., comments:
"We are pleased with the progress of the drilling program, which is focused on delineating high-grade gold deposits that are located along the geological, structural and geophysical trends of deposits that lie on the contiguous lands of Newmont."
Qualified Person
Steve Garwin PhD, FAIG, FAusIMM, FSEG and Director of Battle Mountain Gold Inc. is a qualified person, as defined by NI 43-101. He is responsible for the preparation of the technical information in this press-release.
The six figures referred to in this news-release are also posted on the Company website (www.battlemtngold.com).
To find out more about Battle Mountain Gold Inc. please visit our website at www.battlemtngold.com.
On behalf of the Board of Directors of
BATTLE MOUNTAIN GOLD INC.
"Chet Idziszek"
Chet Idziszek, President
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes and is qualified by the Cautionary Statements on the page following.
Cautionary Statements
This document contains "forward-looking statements" within the meaning of applicable Canadian securities regulations. All statements other than statements of historical fact herein, including, without limitation, statements regarding exploration plans, related financing plans, and our other future plans and objectives, are forward-looking statements that involve various risks and uncertainties. Such forward-looking statements include, without limitation, estimates of exploration investment, the scope of exploration programs, and statements about financings not yet arranged or completed. There can be no assurance that such statements will prove to be accurate, and future events and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations are disclosed in the Company's documents filed from time to time via SEDAR with the Canadian regulatory agencies to whose policies we are bound. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and we do not undertake any obligation to update forward-looking statements should conditions or our estimates or opinions change, other than as required by law. Forward-looking statements are subject to risks, uncertainties and other factors, including risks associated with mineral exploration, the capital markets, price volatility in the mineral commodities we seek, and operational and political risks. Readers are advised not to place undue reliance on forward-looking statements.
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1 We are describing core drill holes completed in 2016 in the Virgin target zone with the prefix "V16C" and in the Buena Vista - Meagher target zone with the prefix "BVM16C".
2 Descriptions of the mineralized zones and tables of drill-hole assay results can be found in a 43-101 report dated March 2014 titled AMENDED AND RESTATED SUMMARY REPORT 2007-2008 CORE AND REVERSE CIRCULATION DRILLING PROGRAM, F.W. LEWIS PROPERTY, BATTLE MOUNTAIN MINING DISTRICT, LANDER COUNTY, NEVADA, USA, (the "2014 43-101 Report") filed on SEDAR under the Company's profile and also on the Company's website under Investor Info/Articles, Agreements and Reports.
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