Recharge Resources Ltd. (RR : TSX-V) (SLLTF : OTC) (SL5 :
Frankfurt) (“Recharge” or the “Company”) is pleased to
provide an update on its multiple battery metals projects and
outlook for upcoming 2022 exploration season.
President & CEO of Recharge, Yari Nieken,
commented: “We have multiple highly-prospective battery metals
exploration projects underway, targeting lithium, nickel, copper,
gold and palladium in active mining camps. Throughout 2021,
Recharge has advanced multiple projects and significantly expanded
its geological understanding and footprint at Pinchi Lake to cover
multiple historical nickel occurrences that will be further
explored throughout our Phase 2 work program at the recommendation
of our geological team. The Company looks forward to an active 2022
exploration season as we continue to develop our portfolio of
battery metals projects in highly prospective and mining friendly
regions of North America focusing on nickel and lithium.”
Georgia Lake North & West - Lithium
Properties – Ontario
The Georgia Lake North and West properties are
located approximately 160 km northeast of Thunder Bay, Ontario,
within the Thunder Bay Mining Division. Recharge’s property is
contiguous to the North and West boundaries of Rock Tech Lithium’s
Georgia Lake Lithium Property and consists of two claim blocks
totaling 320 hectares and 432 hectares. A phase 1 exploration
program is now being planned to test both claim blocks throughout
the active 2022 season.
Neighboring Rock Tech Lithium recently announced
the closing of a private placement raising approximately $41.0
million (U.S.) some of which is to be used for the development of
their neighboring Georgia Lake lithium project with an objective to
confirm the delineated mineral resource, forming the basis for a
prefeasibility study (PFS).
The Rock Tech Lithium Georgia Lake project is
host to several spodumene-bearing pegmatites. Lithium
mineralization was discovered in 1955 and subsequently explored by
several historic owners. Rock Tech’s property hosts an NI 43-101
Mineral Resource, as reported in Rock Tech’s Preliminary Economic
Assessment filed on Rock Tech’s SEDAR profile, with an effective
date of March 15, 2021. The Mineral Resource is summarized in the
following table:
A Media Snippet accompanying this announcement
is available by clicking on the image or link below:
Table 1: Rock Tech Lithium Georgia Lake
Project
Pinchi Lake – Nickel – British
Columbia
Recharge announced on October 7th, 2021, that it
had expanded the Pinchi Lake Nickel project, located approximately
15 to 30 km northwest of Fort St. James and 120 km northwest of
Prince George in the Omineca Mining District of Central British
Columbia.
The Pinchi Lake Nickel project area was
increased to include historical work at the recommendation of the
Company’s geological team, following a review of historic workings
in the surrounding area. The Pinchi Lake Nickel claims were
enlarged by 568 hectares (1,404 acres) to total size of 3,922.64
hectares (9,693.05 acres) to include areas of anomalous nickel
sampling results in three separate areas, indicated from
previous sampling as described in assessment reports on the BC
Government Aris website. The Company plans to conduct
exploration work on these new areas during its upcoming 2022 work
programs.
Previous exploration in the region identified
numerous mercury showings associated with the regional Pinchi Fault
structural zone as well as chromite-low platinum-group-element
occurrences hosted within ultramafic-mafic intrusions. Previous
work at Pinchi Lake was focused on nickel-iron alloy mineralization
(awaruite) in tectonized and serpentinized ultramafic rocks of
Cache Creek Group Trembleur Intrusions. This is the first known
attempt to locate awaruite in the area. The geological and
structural setting of the MR Property is analogous to the Decar
Project (First Point Minerals Ltd.) located approximately 60 km to
the northwest.
The Pinchi Lake property is underlain by the
Lower Pennsylvanian to Middle Triassic Cache Creek complex; a
mixture of calcareous and clastic sedimentary rocks intruded by the
Trembleur ultramafic and Rubyrock mafic intrusions. The Triassic to
Jurassic Takla Group and Tezzeron Sequence are located along fault
bounded contacts with older assemblage. The youngest is tonalite of
the Cretaceous Endako Batholith. Northwest striking faults and
thrusts, including the known Pinchi Lake Fault system, are
characteristic of the strong, structural trend throughout the
region.
Pinchi Lake Nickel Assessment
Report:
https://aris.empr.gov.bc.ca/ArisReports/33773.PDF
A Media Snippet accompanying this announcement is
available by clicking on the image or link below:
Figure 1. Murray Ridge and Pinchi Lake
Nickel Projects Map
Brussels Creek – Gold-Copper-Palladium – British
Columbia
Recharge announced the commencement of a phase 1
exploration program on September 6th 2021 on its Brussels Creek
gold-copper-palladium property, located in the Kamloops mining
district, British Columbia. The Company engaged Quantec Geoscience
Ltd. to complete a Titan130 DCIP survey designed to provide
high-resolution resistivity and chargeability imaging consisting of
seven lines, using 400-metre spacing covering 10.9 kilometres at
the property.
2021 Program Highlights
-
Completion of Quantec Titan 120 DCIP induced polarization survey
totaling 10.9 line kilometers. Preliminary interpretation indicates
the presence of multiple anomalies;
-
Completion of preliminary mapping and sampling program, to provide
a geological baseline for further work;
-
Submission of a Notice of Work for a drilling program, comprising
up to 10 diamond drill holes and up to 2000 metres;
-
Detailed interpretation of the DCIP survey underway by Campbell and
Walker Geophysics.
Earlier in March of 2020, a helicopter-borne
magnetometer survey was completed by Precision GeoSurveys Inc, of
Langley, BC. The survey coverage totaled 402.651 line-kilometres.
An interpretation report was completed in April 2020 by Kit
Campbell of Campbell and Walker Geophysics Ltd, North Vancouver, BC
(Campbell, 2020).
The magnetic survey has provided valuable
structural and geological information. A suite of filters and
derivatives have been applied to the aeromagnetic gridded data,
followed by a multiscale edge detection and automated grid
“fractal” analysis to identify regions prospective for gold
mineralization based on structural complexity as inferred from
magnetics being indicative of significant faults/shears.
The 2020 detailed survey specifically flown for
this project was merged with two previous Federal Government
surveys (Iron Mask and Kamloops, both now in the public domain) in
order to provide better context for the Brussels Creek property to
the regional geology.
Enhanced filters for geological mapping were
applied to the magnetic data of the merged surveys with the results
aiding in the interpretation of the magnetized lithologies,
segregating anomalous zones into apparent lithological
categories.
Chris M. Healey, P. Geo., Consulting Geologist,
is the qualified person responsible for the technical information
relating to the Brussels Creek property, and consents to its
release.
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 WarawaPhone:
778-588-5473E-Mail: info@recharge-resources.comWebsite: 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.
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