Vancouver, September 17, 2019 – 92 Resources Corp. (the “Company”) (TSX.V: NTY) (OTCQB: RGDCF) (FSE: R9G2) is pleased to announce gold assay results from the Lac Bruno and Golden Gap prospects for samples collected during the recently completed 2019 summer field program at its Corvette-FCI Property (the “Property”) in Quebec. The primary objectives of the program were to sample, expand upon, and rank the known historical prospects/showings, and to discover new areas of mineralization. Highlights from Lac Bruno and Golden Gap include:
- Lac Bruno Gold Prospect – New outcrop discovery assaying 1.4 g/t Au located up-ice of boulder field (2019 sample of 11.9 g/t Au) with soil sample results providing further vectoring towards a potential source
- Golden Gap Prospect – Potential western extension identified through several new gold discoveries in outcrop with assays including 1.87 g/t Au and 2.81 g/t Au
Company President & CEO Adrian Lamoureux comments: “Further to the previously reported Cu-Au-Ag results at Elsass and Lorraine, we are highly encouraged by the 2019 gold assay results from Lac Bruno and Golden Gap. We have again achieved our objectives by identifying these new areas of surface mineralization and are excited to vector in on drill targets over both of these prospects”.
The Corvette-FCI Property is situated within the Lac Guyer Greenstone Belt (part of the larger La Grande Greenstone Belt) and trends east-west through the region, approximately 6 to 18 km south of the Trans-Taiga Road and power line corridor. The geologic setting is prospective for gold, silver, base metals, and lithium over several potential deposit styles including orogenic gold, volcanogenic massive sulfide (VMS), and lithium pegmatite. In addition, Midland Exploration (TSX.v – MD) has recently recognized a magmatic-hydrothermal Cu-Au-Ag-Mo deposit style in the immediate region on its adjacent Mythril Property.
Lac Bruno Gold Prospect
Historical sampling at the Lac Bruno Prospect identified a number of angular gold-bearing boulders, initially interpreted as frost-heave, with assays ranging between 1 and 38.1 g/t Au. The mineralized boulders consist predominately of pyrrhotite and arsenopyrite bearing amphibolite. Two historical drill holes completed directly under the boulder field failed to intersect mineralization, with the source subsequently re-interpreted to be further to the northeast, in the up-ice glacial direction.
The 2019 program at Lac Bruno involved confirmatory re-sampling of the historical boulder field showing, as well as prospecting, rock sampling, and soil sampling in the up-ice direction. The field work was successful with 11.9 g/t Au sampled at the main showing, confirming historical grades, as well as an outcrop discovery of a mineralized quartz vein within an amphibolite host returning 1.4 g/t Au (See Figure 1 below). In addition, the results of the soil sample grid highlight an anomalous gold trend towards the east, in an area of the Property with limited historical exploration. Follow-up surface work is targeted over this area to identify the source of the high-grade boulder field.
Golden Gap Prospect
Surface sampling to the west of Golden Gap has discovered two new areas of outcrop exposure assaying 1.87 g/t and 2.81 g/t Au and indicate a possible western surface extension of the main Golden Gap occurrence. Historical sampling at Golden Gap has returned 3 to 108 g/t Au in outcrop and 10.48 g/t Au over 7 m in drill hole (See Figure 2).
The newly discovered showings are located approximately 200 and 750 m, respectively, to the west of the westernmost drill hole completed at Golden Gap. The westernmost drill hole (FCI-010-020) returned a wide interval of low-grade gold mineralization at 0.35 g/t Au over 13 m with a peak assay of 1.22 g/t over 1 m. The drill result from FCI-010-020, coupled with the 2019 surface sampling results, suggests further gold potential to the west.
In addition, field observations have identified a zone of calc-silicate alteration, associated with a felsic dyke, trending oblique to the drill orientation at Golden Gap; however, appears to lie parallel to trends indicated from surface sampling in the area. Collectively, this suggests a further evaluation of the mineralization’s orientation at Golden Gap in relation to the position of drill holes. Correspondingly, the Company has identified several targets in order to follow-up on the positive historical exploration and recent 2019 results at the Golden Gap Prospect.
A crew of four (4) persons completed the 2019 summer exploration program over 23 field days, with a total of 680 rock samples collected across the three contiguous claim blocks that comprise the Property – FCI West, FCI East, and Corvette. In addition, a total of 211 soil samples were collected over a grid focused up-ice of the Lac Bruno Prospect. A summary of the program’s base and precious metal assay results over the Maven Copper-Gold-Silver Exploration Trend were reported in the news release dated September 10, 2019. Regional gold assay results, including those at Golden Gap and Lac Bruno, have been summarized herein. Assay results over the Property for lithium-tantalum are being compiled and will be reported shortly.
Of the 23-field day program, approximately three-quarters were focused over FCI (East and West) and the remaining quarter over the Company’s 100% owned Corvette claim block. The 2019 exploration of the Property is being carried out by Dahrouge Geological Consulting Ltd. and managed out of Quebec.
Figure 1: Summary of 2019 field program results at the Lac Bruno Prospect (FCI East / Corvette)
Figure 2: Possible extension to the Golden Gap Prospect (FCI West)
Quality Assurance / Quality Control
All rock samples collected, as well as quartz blanks and certified reference materials, were shipped to ALS Canada Ltd. in Val-d’Or, QC for multi-element analysis by four-acid digestion with ICP-MS finish (package ME-ICP61) and gold analysis by fire assay with ICP-AES finish (package Au-ICP21), with over limits for Cu, Zn, Au, and Ag determined by the relevant analytical package. Analysis of soil samples included multi-element by aqua regia digestion with ICP-MS finish (package ME-MS41L) and gold by fire assay with ICP-AES finish (package Au-ICP21).
Management cautions that prospecting surface rock sample assays, as presented herein, are selective by nature and represent a point location, and therefore may not necessarily be fully representative of the mineralized horizon sampled.
NI 43-101 Disclosure
Darren L. Smith, M.Sc., P.Geo., Vice President of Exploration for the Company, a Permit holder with the Ordre des Géologues du Québec and 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 junior mineral exploration company focused on acquiring and advancing strategic and prospective properties that position it strongly for the worlds continuing shift to high tech and green technologies including base and precious metals, and lithium.
The Company’s primary assets are the wholly owned Corvette Property and the FCI Property (held under Option from O3 Mining, a recent spin-out from Osisko Mining, for a 75% interest) located in the James Bay Region of Quebec. The properties are contiguous and host significant gold-copper-lithium potential highlighted by the Golden Gap Prospect with grab samples of 3.1 to 108.9 g/t Au from outcrop and 10.5 g/t Au over 7 m in drill hole, the Elsass and Lorraine prospects with 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag in outcrop, and the CV1 Pegmatite Prospect with 2.28% Li2O over 6 m in channel.
In addition, the Company holds the Pontax Lithium-Gold Property, QC, the Golden Frac Sand Property, BC, and the Hidden Lake Lithium Property, NWT, where the Company maintains a 40% interest, as well as several other assets in Canada.
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.