VANCOUVER, BC / ACCESSWIRE / July 9, 2024 / Green Bridge Metals Corporation (CNSX:GRBM)(OTCQB:GBMCF)(FWB:J48) (WKN: A3EW4S) ("Green Bridge" or the "Company") is pleased to announce it has contracted Geotech Ltd. of Aurora, Ontario to carry out a helicopter-borne Versatile Time-Domain Electromagnetic (VTEM™ Plus) and magnetic geophysical survey of the Chrome Puddy ultramafic intrusion, located in the Thunder Bay Mining division, Ontario. The purpose of the survey is to delineate drill targets that are associated with nickel mineralization encountered in historical drill holes and to better define untested conductors defined in a historical (2000) airborne survey (Figure 1). The survey is anticipated to be completed in July 2024 and will consist of 224 line-km flown at 100 m line spacing for full coverage of the 1,546 ha Property.
David Suda, CEO of Green Bridge Metals, stated "Green Bridge is excited to launch a modern VTEM survey that we believe will refine several drill targets across the property and demonstrate the scale of the opportunity. Additional groundwork that we are conducting in the form of rocks sampling, channel sampling, and mapping in conjunction with airborne survey will provide the basis needed to get the project to drill stage in Q4 of this year."
The Chrome-Puddy Property is an EV metals project located 85 km north of the Lac des Iles Palladium Mine in the Thunder Bay Mining Division, Ontario with nickel, copper, cobalt and platinum group metals mineralization hosted in a 6.5 km by 1.5 km ultramafic intrusion. The project has numerous historical drill targets that require refinement from the planned airborne survey. The VTEM™ Plus system and associated magnetic survey are well suited to the mineralization targets on the Property that include both Ni-Cu-PGM sulphide targets and bulk tonnage Ni-Co-Fe oxide mineralization with a historical resource.
Geotech Ltd.'s Versatile Time-Domain Electromagnetic (VTEM™ Plus) system is designed to detect discrete conductive anomalies as well as map lateral and vertical variations in resistivity. A high-sensitivity cesium magnetometer flown in conjunction with the VTEM™ Plus facilitates mapping geologic structure and lithology. The system has a radar altimeter with an accuracy of approximately 1 meter of real time (WAAS) GPS Navigation System providing in-flight accuracy of up to 1.5 m.
Field Program - In addition to the geophysical surveys, Green Bridge has contracted A-Star Prospecting of Thunder Bay to establish a camp on Chrome Lake as a base for future drilling programs. A-Star Prospecting will also conduct channel sampling of outcrop exposures identified in the autumn 2023 prospecting program. The 2023 prospecting identified widespread elevated nickel values ranging from 0.10% to 0.38% Ni with an average of 0.20% Ni, with associated elevated iron, cobalt and chromium values in grab samples of serpentinized ultramafic rocks. The channel sampling will be the first step in quantifying the grade and surface widths of this type of mineralization at Chrome-Puddy.
Green Bridge anticipates that the VTEM™ Plussurveys and additional sampling will enable drill targets to be finalized for a subsequent drilling program.
Figure 1: Illustrates the 6.5km long ultramafic body that hosts nickel, copper, and PGM mineralization on the property and the location of historical geophysical EM targets.
Richard H. Sutcliffe, PhD, PGeo is the Qualified Person who assumes responsibility for the technical content of this press release. Mr. Sutcliffe is not independent of the Company as defined under National Instrument 43-101 as Mr. Sutcliffe is the Principal of Pavey Ark, which was the vendor, for cash and share consideration, of the Chrome Puddy property to Green Bridge Metals.
ON BEHALF OF GREEN BRIDGE METALS,
"David Suda" President and Chief Executive Officer
Green Bridge Metals Corporation (formerly Mich Resources Ltd.) is a Canadian based exploration company focused on acquiring ‘battery metal' rich mineral assets. These include the Chrome Puddy Project and the recently announced South Contact Zone Property along the basal contact of the Duluth Intrusion, north of Duluth, Minnesota. The South Contact Zone contains bulk-tonnage copper-nickel and titanium-vanadium in ilmenite hosted in ultramafic to oxide ultramafic intrusions. The Property has exploration targets for bulk-tonnage Ni mineralization, high grade Ni-Cu-PGE magmatic sulfide mineralization and titanium.
Forward Looking Information
Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to: the exploration and development of the South Contact Zone Properties.
Although management of the Company believe that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking statements or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These risk factors include, but are not limited to: the exploration and development of the South Contact Zone Properties may not result in any commercially successful outcome for the Company; risks associated with the business of the Company; business and economic conditions in the mining industry generally; changes in general economic conditions or conditions in the financial markets; changes in laws (including regulations respecting mining concessions); and other risk factors as detailed from time to time.
The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Certain figures and references contain information supported by public and corporate references that may have been updated, changed, or modified since their referenced date. The Company has not reviewed any resources and cannot comment on their accuracy.
