BeMetals Drilling Results Define Target Zones within Seta Vein and Identify Corridor of Gold Mineralization at Kato Project in Japan

VANCOUVER, BC / ACCESSWIRE / July 12, 2023 / BeMetals Corp. (TSXV:BMET), (OTCQB:BMTLF), (Frankfurt:1OI.F) (the "Company" or "BeMetals") is pleased to announce a batch of recent assay results from its ongoing drilling program at the Kato Gold Project ("Kato" or the "Property") in Hokkaido, Japan.

HIGHLIGHTS OF RECENT KATO DRILLING RESULTS:

• KT23-19: Interval 1: 6.40 metres ("m") grading 1.74 g/t grams per tonne ("g/t") gold ("Au") and 5.4 g/t silver ("Ag")
  • Including: 1.70 m grading 5.58 g/t Au and 11.5 g/t Ag
• Interval 2: 5.60 m grading 3.29 g/t Au and 7.9 g/t Ag
  • Including: 1.00 m grading 9.46 g/t Au and 17.6 g/t Ag
  • Also including: 0.43 m grading 9.65 g/t Au and 8.7 g/t Ag
• KT23-20: Interval 3: 13.55 m grading 1.19 g/t Au and 18.32 g/t Ag
  • Including: 1.95 m grading 3.55 g/t Au and 21.66 g/t Ag
• KT23-18: Interval 2: 10.54 m grading 1.28 g/t Au and 17.4 g/t Ag
  • Including: 1.37 m grading 4.48 g/t Au and 75.5 g/t Ag
• Interval 5: 6.70 m grading 2.48 g/t Au and 36.1 g/t Ag
  • Including: 1.90 m grading 7.50 g/t Au and 91.7 g/t Ag
• KT23-17: Interval 3: 3.60 m grading 2.12 g/t Au and 14.9 Ag
  • Including: 1.00 m grading 6.31 g/t Au and 17.8 g/t Ag
• Interval 6: 3.15 m grading 1.18 g/t Au and 7.7 Ag
  • Including: 0.75 m grading 3.32 g/t Au and 13.0 g/t Ag

Note: Intertek Testing Services completed the analytical work with the core samples processed at their accredited laboratory in Manila, Philippines (See details in QA/QA section below). Reported widths are drilled core lengths as true widths are unknown at this time. Based upon current data it is estimated true widths range between 55 to 65% of the drilled intersections (see Table 1 for details).

John Wilton, President and CEO of BeMetals stated, "This batch of drilling results includes intersections from both the Seta and Kamitake veins at our Kato Project in Hokkaido, Japan. Combining these results with existing data has motivated targets with potential to further extend the higher-grade zones within the Seta Vein. Drill testing of these high-grade target zones is in progress. This drilling also recognized other gold bearing epithermal veins southwest of the Seta and Kamitake veins which indicates a wide corridor of mineralization exists. KT23-17 returned eight mineralized zones, including some shallow depth intercepts, and is the Company's southeastern most drill hole to date. This suggests the Kato corridor hosting gold vein mineralization has dimensions at least 200 metres wide and 1.3 kilometres of strike extent. These factors confirm the large-scale potential of gold mineralization on the Property."

KATO PROJECT DRILLING RESULTS

The Company reports results from approximately 1,660 metres of drilling completed in six drill holes at the Kato Project. This drilling has returned multiple zones of epithermal gold mineralization related to the Seta, Kamitake and other new vein zones intersected in the program to date.

SETA VEIN

Figure 1 is a simplified long section cut parallel to the strike of the Seta Vein (see section line A-B on Figure 2). It illustrates the drill hole intersection pierce points of the Seta Vein intervals with labelled depths, widths, gold, and silver grades. These new assay results when combined with previous BeMetals and historical results, have defined an interpreted target zone for higher-grade zones and shoots of gold mineralization within the Seta Vein.

Drill hole KT23-19, some 400 metres along strike to the southeast from KT22-12, intersected the Seta Vein in the transition zone where we observe both clay (kaolinite) overprint and pristine epithermal, gold-bearing quartz vein. The favourably textured quartz plus adularia vein zones in the KT23-19 Seta Vein intersection are demonstrated by the included intervals of 9.46 g/t and 9.65 g/t gold over 1.00 and 0.43 metres, respectively. These occur within a broader lower grade zone where the Seta Vein has been overprinted by clay alteration. Drill testing a target zone for potentially higher-grade gold mineralization below and along strike from the KT23-19 intersection is motivated. The drilling of two holes to test this zone are in progress with the planned Seta Vein intersection points shown on Figure 1 as KT23-21 and KT23-22. Hole KT23-19A was drilled as a wedged deflection from the KT23-19 mother hole and returned a comparable gold intersection of the Seta Vein to the original hole (see Tables 1 & 2 for details).

Figure 1: Long Section (Looking NE) of Seta Vein Intersections (KT23-16, KT23-19 and KT23-20)

Note: Results of the historical drill hole intersections have been previously reported reported, and are detailed in the Company's technical report entitled, "Kato Gold Project Japan NI 43-101 Technical Report" with an effective date of July 13, 2021, and BeMetals' news release; BeMetals further extends Seta Vein and advances all Kazan Gold Projects in Japan dated January 11, 2023.

Drill hole KT23-20 was targeted to intersect the Seta Vein below hole KT22-13 which intersected the steam-heated zone, as previously reported, with a mineralized zone of 30.00 metres grading 0.47 g/t Au, including: 5.25 metres grading 1.25 g/t Au. The tenor of the gold mineralization interval in KT23-20 is higher than that in KT22-13 to provide 13.55 metres grading 1.19 g/t Au, including 1.95 metres grading 3.55 g/t Au. The results of KT23-20, relative to its observed quartz vein textures, might suggest that the Seta Vein, in certain areas, includes zones commonly referred to as shoots of higher-grade gold mineralization. Further drilling is required in such areas to better understand this control on the higher-grade.

KT23-16 intersected a unit known as black breccia at the targeted Seta Vein elevation. This breccia is interpreted to postdate gold mineralization and disrupts the epithermal veins and gold grades in certain areas. This unit in KT23-16 includes fragments of gold-bearing vein quartz material suggesting a more consistent quartz vein could be developed below or adjacent to this intersection.

KATO CORRIDOR
Figure 2 shows the location of the recent Seta, Kamitake and other newly intersected epithermal veins. These combined results, that now include KT23-17, and surface outcrop samples farther to the southeast outline a ‘Kato corridor' target that is 1.3 kilometres in strike by 200m in width.

Drill hole KT23-17 was collared close to the outcrop of an extensive sinter unit. Such units represent the surface expression of epithermal systems, and their existence shows the full system is preserved. Figure 3 illustrates a cross section through KT23-17 and the eight mineralized intervals intersected between 38.20 and 182.16 metres (see Table 1). Examples of this mineralization are 3.60 metres grading 2.12 g/t Au and 14.9 Ag from 78.50 metres, including 1.00 metres grading 6.31 g/t Au and 17.8 g/t Ag and 3.15 metres grading 1.18 g/t Au and 7.7 g/t Ag from 146.45 metres, including: 0.75 metres grading 3.32 g/t Au and 13.0 g/t Ag. The results from this drill hole indicate the extensive nature of the Kato Corridor with mineralized quartz veins and stockwork zones developed in both the upper sediment and andesite host units.

Assay results from quartz veins in KT23-18 returned an intersection of 10.54 metres grading 1.28 g/t Au and 17.4 g/t Ag, including 1.37 metres grading 4.48 g/t Au and 75.5 g/t Ag from 88.26 metres down-hole depth. This intersection does not correlate with either the Seta or Kamitake veins but appears to be a new, relatively shallow zone of mineralization. An additional zone of mineralization in this hole of 6.70 metres grading 2.48 g/t Au and 36.1 g/t Ag from 229.60 metres, including 1.90 metres grading 7.50 g/t Au and 91.7 g/t Ag is currently interpreted to lie between the Kamitake and Seta Veins. KT23-18, however, did not reach the Seta Vein target.

Figure 2. Kato Corridor: Location of Reported Drill Hole Intersections (KT23-16 to KT23-20) on Simplified Geological Map (Location of Seta Vein long section (A-B) and KT23-17 cross section (C-D) also shown)

Note: Results of the historical rock chip sampling have been previously reported reported, and are detailed in the Company's technical report entitled, "Kato Gold Project Japan NI 43-101 Technical Report" with an effective date of July 13, 2021.

Figure 3. Cross section (Looking NW) through KT23-17 showing the multiple veins intersected & simplified geology

Table 1 lists the gold intersections returned from drill holes KT23-16 to KT23-20 during the ongoing 2023 drilling program at the Kato Project. Table 2 provides details of the drill hole locations, dips, and azimuths.

Table 1: Drill Hole Intersection Results Holes KT23-16 to KT23-20