Vancouver, August 16, 2016 – 92 Resources Corp. (the “Company”) (TSX.V: NTY) (FSE: R9G2) is pleased to announce that a Phase II follow-up exploration program has commenced on its wholly owned Hidden Lake Lithium Property. The Property is located just north of NWT Highway 4, approximately 40 kilometers northeast of the city of Yellowknife, NWT.
As announced on June 7, 2016, the Phase I reconnaissance sampling confirmed the presence of high grade lithium on LU dyke D12. The five samples returned values of 1.64%, 2.45%, 2.69%, 2.89% and 3.06% Li2O, with an average grade of 2.54% Li2O. The dominant lithium-bearing mineral appears to be very coarse grained, light gray to light-greenish gray spodumene. The pegmatite continues both to the northeast and southwest of the sampled area.
The current Phase II program will consist of detailed mapping and systematic channel sampling of the LU dyke D12 and other pegmatites on the property. The field crews have mobilized to the property and work is expected to continue into early September. The company has contracted Dahrouge Geological Consulting Ltd. of Edmonton, Alberta to conduct the work program.
According to Adrian Lamoureux, President and CEO of 92 Resources: “We are very encouraged by the first phase of work on the LU dyke 12 pegmatite, and look forward to building value through rapid advancement of the project. The Yellowknife Pegmatite belt may one day prove to be an important source of lithium, which will help fuel Canada’s transition to a green energy economy.”
About the Property
The Property is located within the central parts of the Yellowknife Pegmatite Belt, which extends from the Blaisdell Lake pegmatite series in the north about 45 km to the south near Harding Lake. The belt parallels the Prosperous Lake Granite Suite; pegmatites, related to this intrusive complex are usually discordant and predominantly north south to northeast-southwest elongate bodies. Within these zoned pegmatite fields, lithium-rich pegmatites tend to occur a similar distance from the source granite and are typically located farthest from the source granitoids. The largest pegmatite deposits often have structural controls that increase their tonnage or grade potential.
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: email@example.com or visit www.92resources.com.
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.