Proactive article: Coniagas Battery Metals CEO shares insights on potential massive sulphide deposit in Quebec

Frank Basa, CEO of Coniagas Battery Metals (TSX-V:COS), discussed the company’s recent news, including securing new ground around the Graal project and the potential for a massive sulphide deposit. Basa highlighted the company’s strategy of using contract geological teams for drilling and exploration, and expressed optimism about the upcoming  drilling programs.

Proactive: Conaigas recently made headlines with the acquisition of new project ground. We’ll delve into that shortly. But before we do, let’s focus on the company itself. Frank, this venture stems from your previous work, correct?

Frank Basa: Yes, it’s an asset we previously held under Nord Precious Metals. We felt it was important to separate it out, as we’ve successfully done in past market downturns, resulting in significant share price increases. This large, massive sulphide deposit in Quebec holds substantial potential. With around $6 million invested and 70,000 meters of drilling, we’ve identified significant mineralization, with nickel equivalent grades exceeding 1% and copper equivalent grades surpassing 2.25%. This early-stage project spans six kilometers and shows promise for becoming a substantial copper, nickel, and cobalt deposit, with some platinum group elements present as well.

You’ve named it Graal, and recently you’ve expanded your stake by staking some additional area around it, known as the Dartagnan package. Could you share insights into this specific area and what prompted your decision to claim this additional part?

It’s in close proximity to us. This area was explored by SOQUEM, the Quebec provincial exploration team, who drilled one hole yielding nearly 0.7% copper, 0.5% nickel, along with significant cobalt and platinum group elements. Recognizing its potential value, we staked an additional 28,000 hectares around their discovery. We believe this could hold significant promise for us moving forward.

How do you plan to develop this project, Frank? I understand you typically assemble a team to work on these endeavors. Will you be employing a similar approach moving forward?

We’ve found that contracting geological teams provides an efficient solution for our needs. They handle everything from permitting to drilling, core logging, sawing, and analytical services, offering a comprehensive package. Operating as a virtual company without a physical office, we maximize funds for ground operations. This approach allows us to achieve excellent results while ensuring optimal resource allocation.

Frank, it appears that this new company is in for an exciting summer ahead. There are undoubtedly some pretty interesting things on the horizon.

I anticipate that we may need to implement additional drilling programs. Thus far, our efforts at Graal have yielded promising results, focusing primarily on shallow drilling. Graal, a French name meaning “Grail,” features a deposit shaped like a martini glass. Our future plans may involve deeper drilling, with hopes of uncovering mineralization beyond the 30-meter mark.

https://coniagas.com/