Vancouver, September 18, 2017 – 92 Resources Corp. (the “Company”) (TSX.V: NTY) (FSE: R9G2) (OTCQB: RGDCF) is pleased to provide an update on the preliminary metallurgical program for its wholly owned Hidden Lake Lithium Project (the “Project” or “Property”), Northwest Territories, Canada. The Property is situated within the central parts of the Yellowknife Lithium Pegmatite Belt, along Highway 4, approximately 40 km east of Yellowknife.
As follow-up to the high-grade spodumene-montebrasite concentrate (6.16% Li2O) produced during preliminary metallurgical testwork (see news release dated July 18, 2017), several scoping lithium extraction tests were completed. The objective was to determine if the industry standard lithium extraction techniques applied to a typical spodumene concentrate would be effective, that being; roasting followed by acid baking and water leaching.
This scoping testwork was highly successful with an overall extraction of 97% achieved. This indicates that the industry standard lithium extraction techniques applied to typical spodumene concentrates will be similarly applicable to those concentrates produced from the pegmatites at Hidden Lake.
Company President and CEO Adrian Lamoureux comments, “We continue to be encouraged by these excellent results from the preliminary metallurgical program being carried out at SGS. The Project has now been significantly de-risked through the high-quality, low-iron spodumene confirmed to be present at Hidden Lake, as well the high lithium extractions that may be expected using standard methods”.
Additional beneficiation work, including magnetic separation, heavy liquid separation, as well as further flotation, will be completed on whole rock material collected as part of the summer field program currently underway. The work completed to date has utilized analytical reject material, which has been sufficient for mineralogy as well as scoping flotation and extraction testwork; however, whole rock material is preferred for the Phase II work.
NI 43-101 Disclosure
Darren L. Smith, M.Sc., P. Geol., 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.
About 92 Resources Corp.
92 Resources Corp is a modern energy solution company, focused on acquiring and advancing strategic and prospective modern energy related projects. The Company currently holds three principal assets in Canada: the Hidden Lake Lithium Property, NWT, the Pontax Lithium Property, QC, and the Golden Frac Sand Property, BC.
The Hidden Lake Lithium Property is strategically located within the heart of the Yellowknife Pegmatite District with 2016 exploration results returning 1.90% Li2O over 9 m and grab samples up to 3.3% Li2O. The Property is easily road accessible and its proximity to infrastructure provides for numerous development advantages.
The Pontax Property is located within Quebec’s lithium district, and covers several historic pegmatite occurrences that are 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 covers more than a 4 km length of the Mount Wilson Formation, which consists of high purity, white, quartzite and friable sandstones. It’s strategic location in western Canada and proximity to infrastructure, provides competitive access to the oil and gas markets where high-quality frac sand is an essentially input. The adjacent Moberly Silica Sand Mine, owned and operated by Heemskirk Canada Ltd., produces a number of high-purity products and as of February 2017, became subject to a takeover bid by Northern Silica Corporation valued at $42.3 million AUD.
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.