Junior Miner Bitterroot Resources (TSXV:BTT) Soars On U.S. Department Of War Investment
The stock makes the TSX Venture top gainer list on news of a U.S. Department of War investment. Bitterroot is trading at 0.1350 +0.0550 (+68.75%) on volume of 1.7 Million shares in early trading, showing investors there is money to be made in junior miners.
The U.S. Department of War has invested up to US$5,223,431 in Defense Production Act (DPA) Title III funding to Trans Superior Resources, Inc., Bitterroot Resources Ltd.'s Michigan subsidiary (TSXV:BTT). The investment will be used to fund, on a 50/50 cost share basis, exploratory drilling, geophysical and geochemical surveys, permitting and associated costs (including labour, equipment, travel, and other direct costs) on the LM Project, a nickel-copper exploration joint venture in the Upper Peninsula of Michigan.
Trans Superior Resources, Inc. is the LM Project operator, owning 51%, with the remainder held by Michigan-based, privately held, Below Exploration Inc.
AdvertisementThe LM Project is located within the Upper Peninsula of Michigan's Baraga Basin, which hosts the only nickel mine in the USA, Talon Metals' Eagle Mine. The Baraga Basin is highly prospective for discovery of additional high-grade, magmatic conduit-hosted nickel-copper deposits. Previous drilling by Bitterroot and Below on the LM Property (7,565 metres in 26 core holes, to a depth of 300 metres) has defined a magma conduit that hosts disseminated, semi-massive and/or massive sulphide nickel-copper-PGM mineralization of high metal tenor in 10 of 26 holes. Drill intervals and photographs of the mineralization are available at
The DPA Title III funding will be used to explore the most prospective and untested part of the LM conduit, in the 400-700 metres depth range. In the fourth quarter of 2026, Trans Superior's management plans to initiate a drilling program consisting of approximately 15-20, 500-700-metre-long core holes on the LM Project. Drilling will follow the LM conduit down from its deepest known point to successively deeper levels. During drilling, borehole electromagnetic (BHEM) and other geophysical surveys will help vector towards potential accumulations of Ni/Cu massive sulphides. The primary objective is to locate the source of high-grade Ni/Cu massive sulphide rip-up clasts seen in the previous drilling. The LM conduit and other nearby targets are potentially very high value, making them viable targets for rapid development of domestic US nickel and copper resources.
Mr. Jeff Rowe, P.Geo, is the Qualified Person responsible for the technical content of this disclosure.
Bitterroot Resources Ltd.'s management is focused on discovering magmatic nickel-copper-PGM deposits in the Upper Peninsula of Michigan and epithermal gold-silver in Nevada.
The Company and its partner Below Exploration Inc. (51%/49%) are exploring the LM Property for high-grade nickel-copper-platinum-palladium deposits similar to Lundin Mining's Eagle and Eagle East mines in the Upper Peninsula of Michigan. Drilling has intersected high-grade, high metal-tenor massive sulphides (0.75 metres grading 5.2% Ni, 1.2% Cu in hole LM 21-07 and 0.80 metres grading 4.8% Ni, 1.1% Cu in hole LM 21-13) and disseminated sulphides (5.3 metres of 0.6% Ni, 0.6% Cu in hole LM 21-01).
Bitterroot also holds a 3.8% interest in Perseverance Metals Corp, which has an option to acquire a 100% interest in the Voyageur Lands, a separate magmatic nickel-copper-PGM exploration joint venture with Altius Minerals Corporation (50.1%), which covers more than 360 square miles in the Upper Peninsula of Michigan (see Aug 2, 2023 News Release).
In Nevada, Bitterroot owns the Nighthawk Gold-Silver Property in Esmeralda County, Nevada, some 30 miles west of the Tonopah mining district. The Nighthawk property is prospective for structurally-controlled oxide and sulphide gold/silver deposits.
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