Vancouver, January 23, 2017 – 92 Resources Corp. (the “Company”) (TSX.V: NTY) (FSE: R9G2) is pleased to provide the following corporate update, which includes a review of activities during 2016 and an anticipated outline for 2017.
2016 was an exciting and successful year for the Company, during which:
- The Company raised $1,486,006 to advance it’s exploration assets;
- The Hidden Lake and Pontax Lithium properties were acquired;
- Reconnaissance exploration at Hidden Lake identified at least six (6) unique lithium-bearing pegmatites. Over 300 channel samples were collected from four pegmatites, covering an intermittent strike-length of approximately 2,240 m, with a peak sample of 3.31% Li2O. Additional pegmatites remain to be sampled;
- NI 43-101 Technical Report on Hidden Lake Lithium Property dated December 16, 2016 has been accepted for filing and can be viewed on SEDAR or Company’s web site - click here: http://92resources.com/43101-Hidden-Lake-Report.pdf
2017 should continue to represent a period in which ‘new energy solutions’ garner much attention; the Company remains committed to advancing it’s high-quality projects, which will include:
- Drill permitting and advancing its Hidden Lake Lithium Property in NWT;
- Initial reconnaissance exploration of the Pontax Lithium Property in Quebec, and
- Developing opportunities around the Golden Frac Sand Property in BC.
The Company’s ‘new energy’ projects fall within three general categories: Green Energy, Nuclear and Unconventional Oil and Gas.
The Hidden Lake Lithium Property, NWT is strategically located within the heart of the Yellowknife Pegmatite District. It is easily road accessible and proximity to infrastructure provides for numerous advantages and cost savings during the exploration and development stages.
The Pontax Property located within the heart of west-central, Quebec’s lithium district, covers several historic pegmatites adjacent to known spodumene bearing pegmatite(s). The underlying geology includes over 20 km strike length of the Pontax Greenstone belt, which is also a favourable geological environment for gold occurrences.
The Golden Frac Sand Property is located within western Canada, near the community of Golden, British Columbia. This property covers over 4 km length of the Mt. Wilson Formation, which consists of high purity, white, quartz sandstones. The adjacent Moberly Silica Mine, owned and operated by Heemskirk Canada Ltd., produces a number of high-purity products. It’s strategic location in western Canada and proximity to infrastructure, provides competitive access to the oil and gas markets. During 2016 the Company received much interest in this project, and is currently evaluating a number of opportunities to unlock value for the company and increase the shareholders value.
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.
On Behalf of the Board of Directors,
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, “forward‐looking statements”. Forward‐looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward‐looking 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 forward‐looking statements.