Vancouver, June 19, 2019 – 92 Resources Corp. (the “Company”) (TSX.V: NTY) (OTCQB: RGDCF) (FSE: R9G2) is pleased to announce its 2019 exploration plans for the Corvette-FCI Property (the “Property”) comprised of the wholly owned Corvette claim block as well as the FCI-East and FCI-West claim blocks held under Option from Osisko Mining Inc. (“Osisko”). Situated approximately 10 km south of the all-season Trans-Taiga Road and powerline, within the James Bay Region of Quebec, the Property is directly adjacent to the south of Midland Exploration’s Mythril Property (TSX.V: MD) and immediately east of Azimut Exploration’s Pikwa Property (TSX.V: AZM). See Figure 1 at end.
The Corvette-FCI Property is situated within the Lac Guyer Greenstone Belt, considered part of the larger La Grande Greenstone Belt, and trends east-west through the region. The geologic setting is prospective for gold, base metals, and lithium over several potential deposit styles including orogenic gold, volcanogenic massive sulfide (VMS), and lithium pegmatite. More recently, Cu-Au-Mo porphyry style mineralization has been recognized in the immediate region by Midland Exploration on its adjacent Mythril Property with select surface samples assaying 16.9% Cu, 16.8% Au, and 3.04% Mo along with initial drill results of 12.55 m at 1.41% Cu(Eq).
Management cautions that past results or discoveries on adjacent properties (i.e. Mythril) may not necessarily be indicative to the presence of mineralization on the Company’s properties (i.e. Corvette-FCI).
The 2019 program at Corvette-FCI will consist of surface exploration comprised primarily of prospecting, rock sampling, and soil sampling along the gold and copper exploration trends identified from historical work. At FCI-West, the Company will focus efforts to the north and along strike of the Golden Gap Prospect, where limited exploration has been completed historically. At the Golden Gap Prospect, historical work has returned 3.1 to 109 g/t Au in outcrop and 10.5 g/t Au over 7 m in drill hole, making it a priority area of interest. This is also the area of the Property closest to the porphyry-style Mythril discovery and hosts the same regionally mapped rock units. This area of the Property (FCI-West) also hosts numerous molybdenum occurrences that require further assessment given the recently recognized porphyry potential of the region. The southern copper trend, having been subject to less exploration than the gold trend, will also be explored.
At FCI-East and Corvette, the Company will focus on identifying the source of the high-grade boulder field that characterizes the Lac Bruno Prospect. A soil sampling grid will be completed up-ice of the boulders and extend from the FCI-East block and onto the 100% owned Corvette block where the source is interpreted to reside. In addition, the Company will prospect further along the lithium trend that extends across the FCI-East block. Previous work along this trend, within the Corvette claim block, has identified a sizable and well-mineralized lithium pegmatite system with occurrences over a strike-length of at least 3 km.
The field crews are scheduled to mobilize in early July with the program anticipated to be completed over a three to four-week period. The 2019 exploration of the Property is being carried out by Dahrouge Geological Consulting Ltd. and managed out of Quebec.
Figure 1: Corvette-FCI Property with regional highlights.
NI 43-101 Disclosure
Darren L. Smith, M.Sc., P.Geo., Vice President of Exploration for the Company, a Permit holder with the Ordre des Géologues du Québec and Qualified Person 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 junior mineral exploration company focused on acquiring and advancing strategic and prospective properties that position it strongly for the worlds continuing shift to high tech and green technologies including base and precious metals, and lithium.
The Company’s primary assets are the wholly owned Corvette Property and the FCI Property (under Option from Osisko Mining for 75% interest) located in the James Bay Region of Quebec. The properties are contiguous and host significant gold-copper-lithium potential highlighted by the Golden Gap Prospect with grab samples of 3.1 to 108.9 g/t Au from outcrop and 10.5 g/t Au over 7 m in drill hole, the Tyrone-T9 Prospect with 1.15% Cu over 2.1 m in channel sampling, and the CV1 Pegmatite Prospect with 2.28% Li2O over 6 m in channel.
In addition, the Company holds the Pontax Lithium-Gold Property, QC, the Golden Frac Sand Property, BC, and the Hidden Lake Lithium Property, NWT, where the Company maintains a 40% interest, as well as several other assets in Canada.
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.