Recharge Resources Acquires Strategic New Project to Cover Highly Anomalous Nickel Mineralization at Pinchi Lake
Vancouver, March 17th, 2022 - Recharge Resources Ltd. (CSE:RR) (CNSX:RR.CN) (OTC:SLLTF) (Frankfurt:SL5) ("Recharge" or the "Company") is pleased to announce the expansion of its portfolio of highly prospective mineral claims in its 100% owned Pinchi Lake Nickel project area. The new project covers newly discovered, highly anomalous nickel mineralization along strike to the northwest and southeast of its Pinchi Lake Nickel East claim block, following the 2021 exploration program that confirmed the presence of highly anomalous nickel mineralization, along strike to the northwest. The new Pinchi Lake Nickel Project is totalling 3,170.47 hectares (7,934.4 acres). This additional project was acquired to cover important geological and magnetic response anomalies along strike both northwest and southeast of the existing Pinchi Lake Nickel East Project. The addition of this new project significantly strengthens the potential for discovery of a nickel alloy orebody. (See Figure 1. Below)
President & CEO of Recharge Resources, Yari Nieken commented: "We have significantly expanded our geological footprint in Pinchi Lake area to cover newly identified, highly anomalous Nickel mineralization along strike from our 2021 exploration program. Planning is now underway for a larger 2022 program to expand our Nickel discoveries and test the new project areas. With current Nickel prices surging, Recharge Resources is well positioned to capitalize on this vital metal for the global shift to electric vehicles. We will continue to explore and develop our portfolio of battery metals projects in highly prospective and mining friendly regions focusing on Nickel, Lithium and Copper ."
Figure 1. Additional Projects at Pinchi Lake
(Pinchi Lake Northwest Project- 1875.67 hectares) (Pinchi Lake Southeast Project - 1295.07 hectares)
Click Image To View Full Size
About Murray Ridge (Pinchi Lake)
The Murray Ridge and Pinchi Lake nickel projects are located approximately 15 to 30 kilometres northwest of Fort St. James and 120 km northwest of Prince George in central British Columbia. The project was previously explored by Nanton Nickel Corp. The projects consists of Five separate claim blocks totalling 7,093.11 hectares (17,527.46 acres) that were carefully selected to cover the best sampling results (greater than 0.20 per cent nickel in rocks) reported by Nanton Nickel Company in 2013 shortly after the discovery of the Decar nickel property owned FPX Nickel Corp. Awerite was confirmed to be a constituent of the nickel values.
The Decar nickel project geology which lies 60 km southwest is analogous suite of ultramafic intrusions are hosts to widely disseminated coarse grained awaruite mineralization. Compositionally, awaruite (Ni2Fe-Ni3Fe) comprises approximately 75 per cent nickel, 25 per cent iron and 0 per cent sulphur, and therefore it is considered natural steel. Absence of sulphur allows a concentrate to be shipped directly to steel mills without incurring smelting and refining costs, and minimal environmental problems. For further details on the project refer to the company's website or to the company's press release dated August 3rd, 2021.
Pinchi Lake Nickel: https://recharge-resources.com/projects/murray-ridge-pinchi-lake/#Summary
About Recharge Resources
Recharge Resources is a Canadian mineral exploration company focused on exploring and developing the production of high-value battery metals to create green, renewable energy to meet the demands of the advancing electric vehicle and fuel cell vehicle market.
On Behalf of the Board of Directors,
"Yari Nieken"
Yari Nieken, CEO
For further information, please contact:
Recharge Resources Ltd.
Mr. Joel Warawa
Phone: 778-588-5473
E-Mail: info@recharge-resources.com
Website: recharge-resources.com
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 release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding Recharge's intention to continue to identify potential transactions and make certain corporate changes and applications. Forward looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Recharge will obtain from them. These forward-looking statements reflect managements' current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including Recharge's inability to identify transactions having satisfactory terms or at all and the results of exploration or review of properties that Recharge does acquire. These forward-looking statements are made as of the date of this news release and Recharge assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.
