Reconnaissance Sampling At Twin Peaks Cobalt Project

TORONTO - Idaho Champion reported on its fall 2022 reconnaissance mapping and sampling program at the Twin Peaks cobalt project located in the heart of the Idaho Cobalt Belt. The program represented the initial exploration work in some of the remote areas of the large property package, focused on historical mine sites and outcrop of metasedimentary rocks, such as argillite and siltite. The team collected 19 samples and visited several historical workings while assessing significant areas of outcrop wherever encountered. Most of the mineralized samples reported here come from sampling of historical mine dumps. The initial work identified vein and structurally controlled mineralization that was the likely host of the historical mining, but the Company also recognized multiple directions of veining and faulting extending away from the historical mines that warrant additional work later in 2023.

Jonathan Buick, CEO, said, ”The fall sampling program was our first visit to some of these areas. The sampling validated the mineralization at some of the historical mines on the Twin Peaks Project and turned up additional historical prospects of which we weren't aware. These metasedimentary rocks are part of the Belt Supergroup of Precambrian rocks that host significant copper-silver deposits in addition to the copper-cobalt deposits that made the Idaho Cobalt Belt famous. In these early days of prospecting for the project, it is encouraging to see these narrow structures hosting high grades of silver, copper, and lead. These showings will help direct our first full season of follow-up work."

Outcrops of clastic sedimentary rock dominated the steep topography at both the Twin Peaks Mine area and the Badger Basin prospect. The prevailing strike of the siltite and argillite is north - northwest. The narrow veins (5 to 20 cm) exploited by historical miners tend to be conformable to that strike and often exhibit green copper oxide staining. The orientation of the siltite-argillite units (and veins) is often disrupted when crossing ravines, suggesting a high degree of structural complexity, with faults inferred to occupy some of the major drainages.

The newly identified Badger Basin Prospect returned the highest copper grades from this sampling program. Sample 257423 is taken from outcrop of two closely spaced, bedding-conformable quartz veins of 10 cm and 15 cm widths. Abundant malachite in the veins is interpreted to represent the weathering of primary copper-bearing sulfides. Sample 257423 returned values of 132 g/t silver, 20.7% copper, 4 ppm cobalt, and 271 ppm lead. The higher silver content and lower cobalt content are geochemically distinct from copper-cobalt mineralization known from records for the historical Twin Peaks Mine 4 km northeast. The relationship between these differing styles of mineralization will be examined as part of the 2023 Idaho Champion exploration program.

The Twin Peaks Project comprises 2,761 hectares (6,820 acres) and includes the historical Twin Peaks Copper Mine. The property is at an early stage of exploration, but it is located approximately 3 kilometers southeast from Electra Battery Metals' advanced exploration stage Iron Creek Project, which boasts an indicated resource of 4.4 Mt* grading 0.19% cobalt (Co) and 0.73% copper (Cu) and 1.2 Mt* grading 0.08% Co and 1.34 % Cu in the inferred category.