Vancouver, July 3rd, 2018 – 92 Resources Corp. (the “Company”) (TSX.V: NTY) (OTCQB: RGDCF) (FSE: R9G2) is pleased to announce that field crews have mobilized to site with exploration now underway at the Corvette Property (the “Property”), located in the James Bay Region of Quebec. The Property is 100% wholly owned by the Company.
The exploration program, focused on lithium, will consist of two primary components; channel sampling of the CV1 and CV2 pegmatites, and prospecting of additional targets. The channel sampling will provide grade over width information and allow for a more complete understanding of the mineralized zonation and overall potential of the pegmatite bodies. The prospecting component will focus along strike of the CV1 and CV2 pegmatites, as well as regional targets identified from historic work and review of satellite imagery. The underlying objective of the ground work is to further the understanding of the spodumene-bearing pegmatite present on the Property, and to lay the foundation for a maiden drill campaign anticipated to follow. Exploration is currently being carried out by Dahrouge Geological Consulting Ltd, with head office based in Edmonton, AB.
The Corvette Property is situated within the Lac Guyer Greenstone Belt, considered part of the larger La Grande Greenstone Belt, in the James Bay Region of Quebec. The Property was acquired based on a historic observation of spodumene noted on one of the claims. The Company followed-up on the ground in the fall of 2017 and discovered two spodumene-bearing pegmatites (CV1 and CV2), trending sub-parallel and in close proximity, with sample assays of 3.48% Li2O and 1.22% Li2O, respectively (see news release dated October 5, 2017). The size potential, based on the outcrop exposure at surface, is also encouraging, with the CV1 pegmatite estimated to be 5 to 30 m in width and 150 m in length.
The Corvette Property is also considered prospective for gold, with numerous high-grade occurrences located on adjacent properties along the same geological trend. Although, not the focus of exploration, the potential for gold occurrences on the Property will also be assessed during the regional prospecting.
The current Corvette field program is anticipated to last for approximately one-week and be immediately followed by a one-week prospecting program at the Pontax Property, also located in the James Bay Region of Quebec. The ground work at Pontax will focus on the numerous pegmatite targets yet to be assessed for their spodumene potential, as well as the new gold targets generated from the recently completed heliborne high-resolution magnetic survey. The exploration at Pontax is expected to last for approximately one-week.
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 four principal assets in Canada: the Corvette and Pontax lithium properties in Quebec, the Golden Frac Sand Property, BC, and the Hidden Lake Lithium Property, NWT, currently under option to Far Resources Ltd.
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.
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.