Wed, 23 Sep 2020

VANCOUVER, CANADA / ACCESSWIRE / January 20, 2020 / BeMetals Corp. ('BeMetals' or the 'Company') (TSXV:BMET )(OTCQB:BMTLF) is pleased to announce the remaining analytical results from its Phase 1 underground drilling campaign, including holes SM19-016, SM19-017 and SM19-018 from the Company's high-grade South Mountain Base and Precious Metal Project ('South Mountain' or the 'Project') in southwestern Idaho, U.S.A. Most importantly, drill hole SM19-016 has further increased the down plunge extent of the DMEA zone by approximately 75 metres and the zone remains open at depth (See Figures 1 & 2). The Company has also recently agreed upon revised terms with Copper Cross Zambia Limited at the Pangeni Copper Exploration Project in Zambia, to extend the due date for money-in-the-ground exploration investment until the end of 2020. This allows for a full field season of exploration activities this year. (See Pangeni section of this news release for more details).

From this batch of recent analytical results, hole SM19-016 has identified multiple zones of dominant gold and silver mineralization in the projected extension of the polymetallic DMEA zone (See Figure 1 & Table 2). The geological logging and interpretation of SM19-016 suggests this drill hole intersected the margins of the DMEA zone based on an increase in the observed ratio of skarn to massive sulphide styles of mineralization. Future drilling will test areas in close proximity to SM19-016 where more massive sulphide mineralization is likely to be discovered. Drill holes SM19-017 and SM19-018 intersected intervals of predominantly zinc and silver mineralization associated with the MB4 target (See Figure 1 & Table 2). These holes represent the first drill testing at the MB4 target zone, generated from rib channel sampling results in the Sonneman level (See Company press release dated June 18, 2019), and as such the orientation of this mineralization is not yet fully understood.

John Wilton, President, CEO and Director of BeMetals stated, 'These recent results support and complete what has been a very successful phase 1 drilling program at the South Mountain Project in Idaho, U.S.A. This initial underground campaign of drilling has delivered on the Company's objective of demonstrating the potential to considerably expand the high-grade base and precious metal mineralization. Overall, we are pleased to see the increased gold and silver components in specifically the DMEA zone mineralization and have found this has been a consistent theme from the 2019 drilling results.

In addition, we were pleased that in September 2019, one of the Company's advisors, Dr. Richard Sillitoe, an economic geologist, spent several days on site examining underground exposures, drill core and surface outcrops. He endorsed and was supportive of the general exploration methodology being applied to the deposit. Importantly it was noted that the massive sulphides have mainly replaced the Laxey marble unit, implying that they may be considered as carbonate-replacement deposit ('CRD') style of mineralization. This classification as a CRD by Dr. Sillitoe might well indicate that there is more upside to the ultimate scale of this deposit than was previously recognized.'

Table 1 below summarizes the drill intersections returned from the phase 1 program, demonstrating the high-grade nature of the base and precious metal mineralization. Figure 1 illustrates the compiled intersections which indicate the potential to expand the mineral resource base at the South Mountain deposit following phase 2 drilling in 2020.

PHASE 1 DRILLING AT THE SOUTH MOUNTAIN PROJECT

The principal objectives of the phase 1 work plan at South Mountain was to test for potential extensions of the mineralized zones and support the grade distribution of the current polymetallic mineral resource estimate. The Company has now successfully completed the phase 1 program comprised of 20 underground drill holes for a total of approximately 2,250 metres. Geological logging and sampling of all drill holes have now been completed with all analytical results received. These results have been compiled into the Project's geological database and will be used to design the phase 2 drilling program for 2020. Following a planned phase 2 drilling program, all new results will be integrated into an updated mineral resource estimation for the Project, expected to be completed towards the end of this year. Further expansion and definition of the DMEA, Texas, and MB4 zones, as well as other targets within reach of underground drill testing from the Sonneman level, provide excellent exploration upside for the 2020 program.

Table 1. All Previously Reported Analytical and Assay Results for the Phase 1 Drilling Program

Drill Hole ID, Zone

& Interval

From

(m)

To

(m)

Core Interval (m)

Zn %

Ag

g/t

Au

g/t

Pb %

Cu %

DMEA Zone

SM19-002

Interval 1

46.88

57.39

10.51

17.81

226

2.41

1.59

0.16

Interval 2

67.85

71.63

3.78

5.45

145

8.39

0.58

0.15

Interval 3

85.83

96.39

10.56

11.42

123

4.43

0.36

0.52

SM19-003

Interval 1

51.18

75.35

24.17

11.12

267

3.44

3.75

0.29

Including

51.18

60.78

9.60

11.74

437

5.99

8.68

0.38

Including

62.09

75.35

13.26

11.77

169

1.88

0.54

0.25

Interval 2

77.60

81.24

3.64

9.74

331

1.94

1.11

0.34

SM19-005

75.13

86.37

11.23

7.97

128

1.20

0.91

0.24

SM19-006

28.01

43.71

15.70

21.27

147

8.04

0.77

0.30

SM19-007

26.97

39.17

12.20

18.16

122.6

4.41

1.55

0.16

SM19-014

Interval 1

105.31

120.40

15.09

9.59

127.1

1.50

0.69

0.28

Interval 2

138.07

143.88

5.81

4.88

76.9

2.55

0.21

0.12

Interval 3

155.17

158.95

3.78

14.49

145.5

0.37

0.25

0.48

Interval 4

184.40

189.56

5.15

0.28

79.9

2.08

0.15

0.06

Interval 5

250.65

258.94

8.29

8.11

178.7

0.48

0.57

1.73

Interval 6

266.33

268.16

1.83

1.32

158.9

2.56

0.56

0.11

Texas Zone

SM19-010

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