Vancouver, September 6, 2017 – 92 Resources Corp. (the “Company”) (TSX.V: NTY) (FSE: R9G2) (OTCQB: RGDCF) is pleased to provide an exploration and development update for the Company’s 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.
The Company is in the final stages of planning for the summer/fall field program at its Hidden Lake Project, with crews set to mobilize to site shortly. A significant portion of the program will be funded through the $140,000 grant awarded under the Northwest Territories Mining Incentive Program (see news release dated June 13th, 2017), and will set the stage for a maiden drill program at the Project, targeted for the latter half of 2017.
The summer/fall field program, scheduled to last approximately 2 weeks, will have the following primary objectives:
- Channel sampling of the HL6 and HL8 pegmatites – Discovered at the end of the 2016 field season with grab samples returning up to 1.86% Li2O
- Detailed prospecting along strike between the HL6 and D12 pegmatites – The extent of the HL6 pegmatite is not fully delineated, providing considerable exploration upside given its similar character to D12, significant presence of spodumene, and its location ~1.4 km along trend from D12, inferring both D12 and HL6 may potentially be part of one larger body
- Regional prospecting to locate additional pegmatite occurrences
- Channel sample collection in support of ongoing metallurgical work – HL1, HL3, HL4, and D12 pegmatites
The Company will provide additional updates regarding its ongoing metallurgical program shortly.
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, 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.