92 Resources Corp. To Initiate Summer Work Program at Hidden Lake Lithium Property, NWT; Raises $862,820
Vancouver, BC (FSCwire) - 92 Resources Corp. (the “Company”) (TSXV: NTY) (FSE: R9G2) is pleased to announce that an exploration program including detailed mapping and systematic channel sampling of known pegmatites, will begin shortly at the company’s wholly owned Hidden Lake Lithium Property. The Property is located just north of NWT Highway 4, approximately 40 kilometers northeast of the city of Yellowknife, NWT.
The Phase I program will target the Spodumene rich LU dyke D12, which was sampled earlier in the summer (see news June 7, 2016), as well as prospective pegmatite dykes previously identified from aerial photography. The company has contracted Dahrouge Geological Consulting Ltd. of Edmonton, Alberta to conduct the ground mapping and channel sampling of the Property.
Adrian Lamoureux, President and CEO of 92 Resources commented: “We are pleased to initiate a follow up program to our recent reconnaissance site visit, when five samples were collected, yielding values ranging from 1.64% to 3.06 % Li2O, with an average grade of 2.54% Li2O. This certainly indicates the exceptional potential Hidden Lake has to host a number of highly prospective spodumene bearing pegmatites.”
Other - $862,820 raised from warrants exercise
The Company is pleased to announce that to date, it has received proceeds of $862,820 from the exercise of 10,252,700 warrants. The Company would like to take this opportunity to thank our shareholders and investors for this strong show of support.
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.
On Behalf of the Board of Directors,
Adrian Lamoureux, President & CEO
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Source: 92 Resources Corp. (TSX Venture:NTY) http://www.92resources.com/
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