92 Resources Corp. 3.31% Li2O Spot Sample at HL4 and 1.78% Li2O over 6.93 M at HL3, Hidden Lake Property
Vancouver - 92 Resources Corp. (the “Company”) (TSX.V: NTY) (FSE: R9G2) is pleased to provide final results from the 2016 summer exploration at the Company’s wholly owned Hidden Lake Lithium Property (the “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 2016 summer exploration included mapping and channel sampling of the LU D12, HL1, HL3, and HL4 pegmatites, in addition to regional mapping and prospecting. Highlights of the summer program are as follows:
- Two (HL6, HL8) additional spodumene bearing pegmatites were discovered at the end of the field program; a total of six distinct occurrences are now known
- A grab sample from HL6, located about 1,400 m along trend to the southwest of D12, contained 1.86% Li2O. It is possible that HL6 is related to D12, given its similar character and location along trend
- 223 channel samples were collected from the HL1, HL3, and HL4 pegmatites. 101 samples returned greater than 1.00% Li2O, with 59 samples greater than 1.50% Li2O to a peak of 3.31% Li2O
- Channel sample HL1-C2 returned 1.26% Li2O over 8.72 m, including 1.53% Li2O over 6.32m
- Channel sample HL3-C9 returned 1.58% Li2O over 8.78 m, including 1.78% Li2O over 6.93m
- Channel sample HL4-C7 returned 1.71% Li2O over 5.78 m
- Significant grades of tantalum associated with the lithium mineralization was identified with an average of 54 ppm Ta2O5 and peak value of 402 ppm Ta2O5
Company President and CEO Adrian Lamoureux states: “Channel sample results from the HL1, 3 and 4 pegmatite’s have exceeded our expectations, with strong mineralization demonstrated throughout, which was bolstered by the discovery of some very significant tantalum grades. At least six prospective pegmatites are known within the Hidden Lake Property, with exposed strike lengths of 350 to 800 m, the potential for significant concentrations of Spodumene Pegmatites remains very high.“
The spodumene bearing HL1, HL3, and HL4 pegmatites were sampled over a combined intermittent strike length of approximately 1,805 m (see Fig. 1 to Fig. 5 on the company website www.92resources.com) with 223 samples collected from 45 channels (summarized in Table 1 to Table 3 below). Samples were collected at approximate right angles to the strike of the pegmatite to best represent the mineralization. Due to terrain variations and cover, some channels may not represent the true width of the pegmatite.
The best combination of grade and thickness was returned from channel HL3-C9, with an average of 1.58% Li2O and 31 ppm Ta2O5 over 8.78 m, including 1.78% Li2O and 31 ppm Ta2O5 over 6.93 m. Of the 223 samples collected from the HL1, HL3, and HL4 pegmatites, a total of 101 returned greater than 1.00% Li2O, with 59 samples returning greater than 1.50% Li2O to a peak of 3.31% Li2O.
A total of 10 grab samples were collected during regional prospecting resulting in the discovery of two additional lithium bearing pegmatites, HL6 and HL8 (Fig. 4). A grab sample from HL6, located about 1,400 m along trend to the southwest of D12, contained 1.86% Li2O. It is possible that HL6 is related to D12, given its similar character and location along trend (Fig. 5). A grab sample from HL8 contained 0.47% Li2O and is located approximately 2.5 km northwest of Highway 4 (Ingraham Trail).
Table 1: HL1 Channel Sample Results
| Full Channel Interval | High-Grade Zone | ||||
| Channel | Width (m) | Li2O % Wt. Av. | Ta2O5 ppm1 Wt. Av. | Width (m) | Li2O % Wt. Av. |
| HL1-C1 | 6.96 | 1.21 | 35 | 3.01 | 1.38 |
| HL1-C2 | 8.72 | 1.26 | 27 | 6.32 | 1.53 |
| HL1-C3 | 3.52 | 1.07 | 56 | 1.87 | 1.49 |
| HL1-C4 | 5.80 | 1.17 | 31 | 2.92 | 1.93 |
| HL1-C5 | 3.44 | 0.57 | 102 | 1.94 | 0.73 |
| HL1-C6 | 3.30 | 0.64 | 83 | 1.00 | 1.03 |
| HL1-C7 | 3.29 | 0.55 | 92 | 0.95 | 1.58 |
| HL1-C8 | 2.53 | 0.54 | 103 | 2.00 | 0.65 |
| HL1-C9 | 3.39 | 0.13 | 145 | 1.00 | 0.22 |
| HL1-C10 | 1.00 | 0.03 | 70 | 1.00 | 0.03 |
| HL1-C11 | 0.80 | 0.01 | 76 | 0.80 | 0.01 |
| HL1-C12 | 6.09 | 0.61 | 67 | 1.97 | 1.41 |
| HL1-C13 | 2.96 | 1.43 | 50 | 1.96 | 1.99 |
| HL1-C14 | 4.12 | 0.70 | 37 | 2.13 | 1.25 |
| HL1-C15 | 2.00 | 1.33 | 34 | 1.00 | 2.52 |
| HL1-C16 | 2.07 | 1.38 | 53 | 1.07 | 2.45 |
Table 2: HL3 Channel Sample Results
| Full Channel Interval | High-Grade Zone | ||||
| Channel | Width (m) | Li2O % Wt. Av. | Ta2O5 ppm1 Wt. Av. | Width (m) | Li2O % Wt. Av. |
| HL3-C1 | 4.18 | 0.03 | 51 | 1.22 | 0.08 |
| HL3-C2 | 3.60 | 0.89 | 38 | 1.98 | 1.26 |
| HL3-C3 | 6.31 | 0.34 | 27 | 1.03 | 0.94 |
| HL3-C4 | 4.91 | 1.28 | 21 | 1.88 | 1.41 |
| HL3-C5 | 5.00 | 0.73 | 19 | 3.07 | 1.08 |
| HL3-C6 | 5.54 | 1.23 | 75 | 4.04 | 1.40 |
| HL3-C7 | 9.64 | 0.84 | 71 | 5.53 | 1.37 |
| HL3-C8 | 6.73 | 1.29 | 51 | 6.06 | 1.41 |
| HL3-C9 | 8.78 | 1.58 | 31 | 6.93 | 1.78 |
| HL3-C10 | 8.35 | 1.02 | 35 | 5.84 | 1.33 |
| HL3-C11 | 8.15 | 1.12 | 23 | 7.00 | 1.29 |
| HL3-C12A | 1.37 | 0.01 | 14 | 1.37 | 0.01 |
| HL3-C12B | 4.96 | 1.16 | 11 | 3.95 | 1.39 |
| HL3-C13 | 3.37 | 1.34 | 13 | 1.73 | 2.05 |
| HL3-C14 | 1.63 | 0.23 | 6 | 1.63 | 0.23 |
| HL3-C15 | 4.27 | 0.89 | 68 | 2.07 | 1.55 |
Table 3: HL4 Channel Sample Results
| Full Channel Interval | High-Grade Zone | ||||
| Channel | Width (m) | Li2O % Wt. Av. | Ta2O5 ppm1 Wt. Av. | Width (m) | Li2O % Wt. Av. |
| HL4-C1 | 4.66 | 0.06 | 35 | 0.80 | 0.15 |
| HL4-C2 | 2.48 | 0.16 | 50 | 0.87 | 0.37 |
| HL4-C3 | 3.40 | 1.74 | 20 | 3.40 | 1.74 |
| HL4-C4 | 6.13 | 1.41 | 41 | 5.88 | 1.47 |
| HL4-C5 | 8.02 | 0.55 | 60 | 1.99 | 1.46 |
| HL4-C6 | 6.09 | 1.04 | 34 | 1.90 | 1.58 |
| HL4-C7 | 5.78 | 1.71 | 33 | 5.78 | 1.71 |
| HL4-C8 | 6.30 | 1.24 | 52 | 4.12 | 1.66 |
| HL4-C9 | 4.69 | 1.12 | 44 | 2.09 | 1.47 |
| HL4-C10 | 5.45 | 1.51 | 130 | 4.70 | 1.73 |
| HL4-C11 | 3.65 | 1.13 | 170 | 2.87 | 1.40 |
| HL4-C12 | 2.97 | 0.04 | 159 | 0.33 | 0.20 |
| HL4-C13 | 5.11 | 1.24 | 43 | 4.02 | 1.36 |
Samples were analyzed by Activation Laboratories in Kamloops, B.C. by their sodium peroxide fusion ICP-OES+ICP-MS Ultratrace 7 package. Any samples with lithium values that exceeded detection limit were subsequently analyzed by the sodium peroxide fusion ICP-OES lithium ore analysis package.
The discovery of elevated concentrations of tantalum mineralization from the D12, HL1, HL3, and HL4 dykes (up to 596 ppm Ta2O5 with an average of 64 ppm) is a potentially significant discovery. Often, tantalum and lithium are strongly zoned with mineralized pegmatite bodies; however, meaningful zone overlap may exist and has been demonstrated in the past through co-production in other deposits known worldwide. Anomalous rubidium and beryllium mineralization has also been identified, but will require further analysis.
The world's largest active lithium mine is the Greenbushes lithium mine in Australia with reported reserves (as of Sept. 30, 2012) of 61.5 million tonnes (Mt) at 2.8% Li2O. The mine has been in operation since 1985 and produces approximately 740,000 tonnes per annum of lithium (spodumene) concentrates; however, has also produced appreciable concentrations of tantalum. Similarly, Critical Rare Earth Elements (CRE) Rose Lithium-Tantalum Project in Quebec is reported to contain an indicated resource of 26.5 Mt of 0.98% Li2O and 163 ppm Ta2O5.
Management cautions that past results or discoveries on other properties may not necessarily be indicative of mineralization on the Company's properties.
With the highly encouraging results from the Company’s 2016 field sampling program, permitting is currently underway for a winter 2017 drill program on the spodumene bearing pegmatites at the Hidden Lake Property.
NI 43-101 Disclosure
William Miller P. Geo., 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 statements.
Source: 92 Resources Corp. (TSX Venture:NTY)