Peninsula Energy restarts uranium production at Lance project in Wyoming
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Vancouver, British Columbia--(Newsfile Corp. - January 28, 2022) - Big Red Mining Inc. (CSE: RED) (FSE: K8J), (the "Company", or "Big Red") is pleased to announce expansion of its Dobie Lake Copper Property to the east and west. Big Red has acquired more ground which will add approximately 2100 Acres to the existing Property.
Figure 1 -- Location of No 1 and No 2 Zones on Dobie Lake Copper Property in Relation to Gryba and Skead ClaimsTo view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/8411/111916_bigredminingcorpmap.jpg
Cobalt (Gryba) Claims
The Cobalt claims lie to east of the Dobie Lake Copper claims (the orange claims in Figure 1 above). The area appears be the extension of the North No 1 Zone (Figure 1). Rock sampling from trenches in the North Zone have returned values up to 6.78% copper in veins of massive chalcopyrite. The Cobalt claims adjoins the property of Kobold Metals, a company whose mandate is to identify projects with potential to host Energy Metals, which has a known cobalt occurrence.
About Kobold Metals
KoBold Metals is privately held and backed by investors committed to the long-term development of new battery metal resources. The principal investors in Kobold Metals are Breakthrough Energy Ventures, a climate technology fund overseen by Bill Gates, Jeff Bezos, and other global business leaders; Andreessen Horowitz, the premier Silicon Valley venture capital fund; and Equinor, the Norwegian state oil company.
The Skead Holdings Property
The property acquired from Skead Holdings comprises claims to the east and west of the existing Dobie Lake Copper Property.
The claims to the east of Dobie Lake Copper cover an area known as the "Southeast Trench" which has yielded, in past work, massive chalcopyrite veins with grab samples up to 5% copper. The newly discovered Alpha Vein on Big Red's property is projected to extend to the Southeast Trench area giving a strike length of over 1.5 km to this copper-bearing structure.
The property to the west of the Dobie Lake Copper claims includes the western extension of the Alpha vein and covers the former producing Jentina mine property. Indications of the western extension of the Alpha Vein (No. 2 Zone) were discovered during prospecting on the west side of the Skead claims in 2021. If confirmed, this would add another 1.6 km to the western extent of the No. 2 copper mineralized zone.
Mr. Jag Sandhu, CEO of Big Red, stated, "We are excited to work with local prospectors to expand the property holdings of Big Red in the Algoma area of Ontario. We consider this area to have great potential based on the widespread copper mineralization and past production in the area. Our expanded footprint is important and gives us a large land holding in a highly prospective area."
Qualified Person
James Atkinson M.Sc., P. Geo., a Qualified Person ("QP") as such term is defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the geological and technical information reported in this news release. Mr. Atkinson is not independent of the Company as he is a member of the Board of Directors of Big Red.
About Big Red Mining Corp.
Bid Red is focussed on discovering metals required for the clean energy revolution. Big Red holds an option to acquire a 100% interest in the Dobie Lake Copper Project (the "Property") in Ontario, Canada. The Property is Located approximately 100 km from Sault Ste Marie, Ontario. The Property surrounds and covers Extensions of the Past producing Jentina Mine. The Property comprises 131 claims totaling 6,500 Acres (26 Square kilometers). Big Red's management team possess extensive experience in financing, exploration, development and mining. Big Red's mission is to conduct future drilling campaigns on the Dobie Lake copper property to maximize its minable resource potential.
On Behalf of the Board of Directors
Jag Sandhu, CEO and President 778-218-9638
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although Big Red believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/111916
