Vancouver, June 7, 2016 – 92 Resources Corp. (the “Company”) (TSXV: NTY) (FSE: R9G2) is pleased to announce that it has completed a reconnaissance visit of 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.
During May 2016 the company retained Dahrouge Geological Consulting Ltd. of Edmonton, Alberta to conduct a site visit of the Property and to confirm historic sample results for the known spodumene-bearing, lithium pegmatites. The historic LU dyke D12 was examined and five samples collected from an area measuring approximately 30 by 150 meters. 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. Samples were submitted to Activation Laboratories in Kamloops, where they were analyzed by Sodium Peroxide Fusion ICP-OES (lithium ore analysis).
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.
Interpretation of air photos post-dating recent forest fires has identified a number of ground targets for future exploration. Based on the recent site visit, the company is planning a field program that is anticipated to begin in mid-July and will consist of mapping, identifying and exposing spodumene-bearing pegmatite dykes, and systematic channel sampling of those outcrops.
According to Adrian Lamoureux, President and CEO of 92 Resources “We are extremely pleased that our initial site visit confirmed the exceptional potential Hidden Lake has to host a number of highly prospective spodumene bearing pegmatites. 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.”
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: adrian@92resources.com 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, “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.