Channel Sampling Returns 1.90% Li2O Over 9.0 M, Including A Sample High Of 3.08% Li2O, From The Lu D12 Pegmatite At The Hidden Lake Property, Nwt

Releases

Vancouver, November 8, 2016 – 92 Resources Corp. (the “Company”) (TSX.V: NTY) (FSE: R9G2) is pleased to provide results from the 2016 summer exploration at the Company’s wholly owned Hidden Lake Lithium Property (the “Property”), Northwest Territories. The Property is situated within the central parts of the Yellowknife Lithium Pegmatite Belt along Highway 4, approximately 40 km east of Yellowknife. 

The 2016 summer exploration included mapping and sampling of the LU D12 pegmatite, in addition to the newly discovered HL1, HL3, and HL4 pegmatites (see news release dated September 14th, 2016). Samples for the LU DU12 pegmatite have been returned, highlights are as follows:

 

  • Channel sample D12-5 returned 1.53% Li2O over 11.58 m, including 1.90% Li2O over 9.02 m
  • A total of 52 samples returned greater than 1.00% Li2O, with 34 samples greater than 1.50% Li2O to a peak of 3.08% Li2O
  • Significant grades of tantalum associated with the lithium mineralization were identified
    • Average of 88 ppm Ta2O5 to a peak of 596 ppm
  • Analytical results for 223 samples are pending, which include samples from the HL1, HL3, HL4 pegmatites where spodumene has been visually identified
  • At least two new pegmatites, not previously reported, were discovered to the south of LU D12. 

 

Company President and CEO Adrian Lamoureux states “the initial channel sampling program at the LU D12 pegmatite exceeded our expectations, with strong mineralization demonstrated throughout, this was bolstered by the discovery of some very encouraging tantalum grades. Planning is underway for a winter exploration program of delineation drilling to confirm the dimensions of this mineralized body and to collect a small bulk sample for mineral processing. The potential for further discovery on the Property remains high, with sample analysis for several newly discovered spodumene bearing pegmatite bodies yet to be received.“

The spodumene bearing LU D12 pegmatite was sampled over an intermittent strike length of approximately 275 m (see Fig. 1) with 85 samples collected from 15 channels (summarized in Table 1 below). Samples were collected at approximate right angles to the strike of the pegmatite to best represent the mineralization. Due to terrain variations and cover, some channels may not represent the true width of the pegmatite.

The best combination of grade and thickness was returned from channel D12-5, with an average of 1.53% Li2O and 64 ppm Ta2O5 over 11.58 m, including 1.90% Li2O and 52 ppm Ta2O5 over 9.02 m. Of the 85 samples collected from the LU D12 pegmatite, a total of 52 returned greater than 1.00% Li2O, with 34 samples returning greater than 1.50% Li2O to a peak of 3.08% Li2O. 


Table 1:  LU D12 Channel Sample Results

 

 

Full Channel Interval

High-Grade Zone

Channel

Width
(m)

Li2O % Wt. Av.

Ta2O5 ppm1 Wt. Av.

Width
(m)

Li2O % Wt. Av.

D12-1

7.48

1.07

109

5.03

1.27

D12-2

3.50

1.65

80

3.50

1.65

D12-3

3.19

0.83

106

1.86

1.28

D12-4

6.01

1.75

55

6.01

1.75

D12-5

11.58

1.53

64

9.02

1.90

D12-6

5.71

1.24

58

2.97

1.65

D12-7

3.80

1.31

211

2.02

2.08

D12-8

5.75

1.34

46

3.90

1.94

D12-9

6.09

1.31

43

4.11

1.53

D12-10

5.97

1.29

113

5.97

1.29

D12-11

6.80

1.08

75

6.34

1.13

D12-12

2.25

0.93

124

1.20

1.47

D12-13

3.62

1.39

82

2.85

1.62

D12-14

1.52

0.38

192

1.52

0.38

D12-15

4.53

1.42

123

2.83

1.81

1Although reported herein, the tantalum values determined by ICP-OES ICP-MS may contain inaccuracies at lower tantalum levels due to limitations of the analytical technique and will require confirmation by XRF analytical techniques. The XRF results for tantalum will be reported when available.

Samples were analyzed by Activation Laboratories in Kamloops, B.C., by their sodium peroxide fusion ICP-OES ICP-MS Ultratrace 7 package. Any samples with lithium values that exceeded detection limit were subsequently analyzed by the sodium peroxide fusion ICP-OES lithium ore analysis package.

The majority of the programs samples collected during the program (223) remain to be received. These include samples from the three newly discovered spodumene bearing pegmatite dykes (HL1, HL3, HL4), as well as several grab samples collected from at least two other pegmatites dykes discovered on the Property. Analytical results will be released when received.

The discovery of elevated concentrations of tantalum mineralization from the LU D12 dyke (up to 596 ppm Ta2O5 with an average of 88 ppm) is a potentially significant discovery. Often, tantalum and lithium are strongly zoned with mineralized pegmatite bodies; however, meaningful zone overlap may exist and has been demonstrated in the past through co-production in other deposits known worldwide.

The world's largest active lithium mine is the Greenbushes lithium mine in Australia with reported reserves (as of Sept. 30, 2012) of 61.5 million tonnes (Mt) at 2.8% Li2O. The mine has been in operation since 1985 and produces approximately 740,000 tonnes per annum of lithium (spodumene) concentrates; however, has also produced appreciable concentrations of tantalum. Similarly, Critical Elements Corporation’s (CRE) Rose Lithium-Tantalum Project in Quebec is reported to contain an indicated resource of 26.5 Mt of 0.98% Li2O and 163 ppm Ta2O5.
Management cautions that past results or discoveries on other properties may not necessarily be indicative of mineralization on the Company's properties.

With the highly encouraging results from the Company’s 2016 field sampling program, permitting is currently underway for a winter 2017 drill program on LU DU12 and other spodumene bearing pegmatites at the Hidden Lake Property.

 

Figure 1 D12 Channel Sampling Nov 8 NR

 

NI 43-101 Disclosure
William Miller P. Geo., of Dahrouge Geological Consulting Ltd., a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.

For further information, please contact Adrian Lamoureux, President & CEO at Tel: 778-945-2950, E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it. or visit www.92resources.com.

On Behalf of the Board of Directors,

“ADRIAN LAMOUREUX”
Adrian Lamoureux, President & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. 

Forward Looking Statements:
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forwardlooking statements”. Forwardlooking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forwardlooking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forwardlooking statements.

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