Vancouver, June 1, 2017 – 92 Resources Corp. (the “Company”) (TSX.V: NTY) (FSE: R9G2) is pleased to provide an update on the Phase I preliminary metallurgical program for its wholly owned Hidden Lake Lithium Project (the “Project” or “Property”), Northwest Territories. The Property is situated within the central parts of the Yellowknife Lithium Pegmatite Belt, along Highway 4, approximately 40 km east of Yellowknife.
The metallurgical program is the first applied to the pegmatites forming the Hidden Lake Project, and is comprised of two phases; mineralogy, and mineral processing. The Company is pleased to report that the Phase I mineralogy program is now well-advanced, with QEMSCAN and Electron Probe Micro Analysis (EPMA) work completed on the four composite samples representing the HL1, HL3, HL4, and D12 pegmatites.
- Bulk mineralogy and liberation are very similar across all four pegmatite composites (HL1, HL3, HL4, and D12)
- Spodumene is confirmed as the primary host of lithium
- Spodumene is coarse grained, with very good liberation characteristics
- Iron content of the spodumene is low, averaging 0.22% FeO
- Columbite group minerals are the primary host to the Ta, and may potentially be recoverable
- All work to date indicates that conventional flowsheet approaches for processing of spodumene bearing pegmatites are applicable
The QEMSCAN and EPMA results are highly encouraging, with the liberation characteristics and bulk mineralogy of all four pegmatite composites (HL1, HL3, HL4, and D12) confirmed to be very similar: spodumene, feldspar and quartz, with minor muscovite and apatite. These findings indicate that all four pegmatites at Hidden Lake will have similar processing characteristics, and therefore, may be combined into one master composite for future development work.
Further, the mineral spodumene is confirmed to be primary source of lithium present. Although, the presence of lithium within the micas remains to be quantified by laser ablation, all indications are that it is insignificant. The iron content of the spodumene is particularly low, averaging 0.22% FeO, indicating that this specification will not be of concern for end-use.
Spodumene liberation is very good (~90% at a P80 of -425 µm). This indicates a strong potential for recovery using dense media separation (DMS) and flotation techniques, which are common processing methods applied to spodumene bearing pegmatites.
The tantalum is present as oxides, dominantly as columbite type minerals, and may potentially be recoverable. Phase II testwork will further evaluate the potential recovery of the oxides.
Collectively, the Phase I data indicate that the pegmatites present on the Hidden Lake Property are typical of spodumene bearing pegmatites occurrences in general, and that common and conventional process flowsheets applied to such mineralization types will be applicable.
Analytical reject material is being used for the mineralogy program and is sufficient for the Phase II scoping flotation testwork that will begin shortly. The flotation testwork will focus on identifying the reagent scheme, as well as testing the ability to produce a spodumene concentrate without the need for additional processing. However, whole rock will be required for the Phase II heavy liquid separation (HLS) testwork. This material is targeted to be collected from the Property in the coming weeks.
NI 43-101 Disclosure
William Miller P.Geo. and Darren L. Smith, M.Sc., P.Geol. of Dahrouge Geological Consulting Ltd., Qualified Persons 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 Mt. Wilson Formation, which consists of high purity, white, quartz 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.