92 Resources Corp. Increase Land Holdings in Yellowknife Pegmatite District
Vancouver, BC (FSCwire) - 92 Resources Corp. (the “Company”) (TSXV: NTY) (FSE: R9G2) is pleased to announce that it has added another contiguous claim of 500 hectares to the Hidden Lake Lithium Property (the “Property”) near Yellowknife, Northwest Territories. The claim covers the continuation or potential extensions to known lithium bearing pegmatites at the property.
Hidden Lake Lithium Property
The Hidden Lake Lithium Property now consists of three mineral claims, totaling approximately 1,600 hectares covering a number of known spodumene-bearing pegmatites. It is located just north of NWT Highway 4, approximately 40 km northeast of the city of Yellowknife, NT. The property is highly prospective for spodumene-bearing lithium pegmatites. The lithium potential of pegmatites within the Yellowknife area was first recognized in the mid-1950’s, when a number of the region’s pegmatites were sampled and found to contain highly anomalous concentrations of lithium. As previously reported (Feb 29, 2016), at Hidden Lake, the LU#12 pegmatite was mapped and sampled over an approximate exposure that measures 10 by 300 meters. Seven samples were collected from surface trenches, and contained between 1.37 and 3.01% Li2O. The very high grades of lithium were attributed to observed concentrations of coarse-grained spodumene. Crystals up to 36 inches long were noted, with visual estimates across the dyke(s) in some places of 20 to 35%.
Location Map
http://92resources.com/images/Hidden_Lake_Promo_Map_001.pdf
The proposed 2016 work for the Hidden Lake Lithium Property consists of an initial ground sampling and mapping program to identify and delineate spodumene (Li) rich pegmatite dykes. Numerous targets are evident through aerial photo interpretation. Once assay results have been received, a detailed channel sampling program would be completed on the most promising dykes.
The majority of the area covered by the Hidden Lake Property has seen little historic exploration; most exploration has been to the north and east of the Property. Recent exposure as a result of forest fires has made identifying the pegmatite dykes on aerial photography possible, as the exposed the dykes are generally lighter coloured and resistant.
Within zoned pegmatite fields, lithium rich pegmatites tend to occur a similar distance from the source granite, and are typically the furthest from the source granitoids. The largest pegmatite deposits often have structural controls increasing their tonnage or grade potential. The target pegmatite dykes at Hidden Lake are a similar distance from the Archean granitoids as the known spodumene-bearing bodies and as such, their potential for similar spodumene mineralization is considered high.
NI 43-101 Disclosure
John Gorham, 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.
For further information, please contact Adrian Lamoureux, President & CEO at Tel: 778-945-2950, E-mail: adrian@92resources.com or visit www.92resources.com.
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 stateme.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/92resource04252016.pdf
Source: 92 Resources Corp. (TSX Venture:NTY) http://www.92resources.com/
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