Anteros Metals Receives Approval for Airborne Geophysics Exploration at the Hopedale Nickel Project, Labrador

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Anteros Metals Inc. (“Anteros” or the “Company”) is pleased to announce receipt of a government permit to conduct airborne geophysical surveying at its Hopedale Nickel project (the “Project”) in Labrador, Canada. The airborne geophysics and surface mapping constitute Phase One of Anteros’s planned 2022 exploration of the Project, which is set to begin later this month.

Geotech Ltd. has been contracted to conduct 313 line-kilometres of Versatile Time-Domain Electromagnetic (“VTEM”) airborne surveying over the Hopedale Property (Figure 1). Featuring a penetration depth up to 800 metres below ground, the VTEM system is ideally suited to identify and trace deep conductivity anomalies associated with nickel mineralization found on the Project. The proposed grid features 100-metre line spacings producing a spatial resolution of approximately 2 metres. The survey results will provide a framework for targeted exploration entailing surface identification and validation, airborne anomaly focused surface geophysics, and drill targets.


Figure 1: Anteros Metals Hopedale Ni-Cu-Co Property showing planned VTEM grid with 100-metre line spacing and 1,000 metre tie-line spacing.

HOPEDALE PROJECT HIGHLIGHTS

  • 106 Claims totaling 26.5 square kilometres
  • 100% owned
  • Anteros beginning Phase One exploration to expand historical findings
  • Located along the Churchill-Nain Suture Zone within the highly prospective Nain Plutonic Suite
  • Similar in lithotectonic setting to the Voisey’s Bay deposit which hosts magmatic Ni-Cu-Co sulphides
  • Multiple electromagnetic anomalies with coincident anomalous nickel in stream silt samples

Figure 2: Location of Anteros Hopedale Project as represented by Company logo. Vale’s (VALE) Voisey’s Bay deposit represented to the north. Hopedale Airport to the east.

­­PROJECT OVERVIEW

The Hopedale Nickel (+/- Copper-Cobalt) Project is located approximately 90 kilometres west of the town of Hopedale, Labrador and 90 kilometres south of the Voisey’s Bay Nickel-Copper-Cobalt Mine (Figure 2). The geological environment hosting the Hopedale Property bears unique characteristics similar to those displayed by the Voisey’s Bay deposit.

The Project sits along a tectonic suture between the Churchill and Nain lithotectonic provinces, straddled to the north by the world-class Voisey’s Bay Nickel-Copper-Cobalt sulphide deposit, and is proximal to the nickel-copper-cobalt bearing Pants Lake Intrusive Complex. Southwestern portions of the property are underlain by gabbroic and anorthositic rocks, highly prospective for sulphide related mineralization. Northwestern portions of the property lie over granitic to monzonitic rocks. All units are cut by harp dikes, a series of northeast-trending gabbro dikes also associated with nickel-copper-cobalt sulphide mineralization.

Historical geophysical surveys on the Project disclosed shallow electromagnetic (“EM”) conductors coincident with magnetic anomalies. Previous interpretations suggest this may represent disseminated sulphide mineralization. Follow-up exploration, although limited in 1996, defined many of the geophysical anomalies to be associated with anomalous nickel in stream sediment samples (Figure 3). Given the presence of favorable gabbroic and anorthositic intrusive rocks underlying these anomalies, a high exploration potential for a new magmatic Ni sulphide deposit exists and warrants further investigation.

Anteros Metals aims to reveal the source of these anomalies and define the economic significance of the conductors during the Phase One exploration program using deeper-penetrating airborne geophysics and surface mapping.


Figure 3: Hopedale Ni-Cu-Co Property map showing location of coincident EM anomalies, anomalous Ni lake sediment samples, and anorthositic rocks.

PHASE ONE EXPLORATION

Phase One exploration of the Hopedale Nickel Project will build on historic exploration results by acquiring higher-resolution, deeper-penetrating, 3D EM data that could identify new and subtler anomalies and better define the historical conductors. The VTEM system uses a low-noise, low base-frequency, full spectrum waveform that has far superior penetration depth and resolution compared to the EM system previously used on the Project. The survey will enable unprecedented insight into the geological and structural make-up of the Project area, gleaning critical insight for advancing exploration towards the discovery of new magmatic sulphide deposits.

Results of VTEM modelling and target generation will inform follow-up ground mapping and sampling programs to be conducted shortly after receipt and interpretation of the results. Phase Two exploration is anticipated to include follow-up drill-testing for magmatic nickel-copper-cobalt sulphide mineralization based on the results of Phase One exploration.

For more information on the Hopedale Project, please visit: https://anterosmetals.com/hope-ni-cu-co/

For more information on the VTEM Plus survey, please visit: www.geotech.ca

Qualified Person

Jesse Halle, P. Geo., an independent Qualified Person in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and accepted the technical material contained in this news release.

About the Company

Anteros Metals Inc. is a multimineral exploration and project generation company focused on highly prospective projects in Newfoundland and Labrador, Canada.

For more information on Anteros Metals, please contact or visit:

info@anterosmetals.com
Tel: 1-800-417-1468

www.anterosmetals.com
@anterosmetals

On Behalf of The Board of Directors,

Chris Morrison

Director and Manager of Communications

Telephone: 709-725-6520 | Email: chris@anterosmetals.com
Website: www.anterosmetals.com

Conception Bay South, NL, Canada A1W 4T2

Cautionary Statement Regarding Forward-Looking Information

This news release may contain “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Forward-looking statements herein include but are not limited to statements relating to the prospects for development of the Company’s mineral properties, and are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward looking statements. Except as required by law, the Company disclaims any obligation to update or revise any forward-looking statements. Readers are cautioned not to put undue reliance on these forward-looking statements.


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