Wednesday 28th September 2016

Resource Clips



Another lithium acquisition puts 92 Resources in Quebec’s James Bay region

by Greg Klein | July 26, 2016

A company already exploring for lithium in the Northwest Territories, 92 Resources TSXV:NTY announced its acquisition of a Quebec prospect on July 26. The 5,536-hectare Pontax property in the James Bay region has undergone little exploration so far. Yet historic satellite imagery has shown pegmatite outcrops and indicated other potential pegmatite occurrences.

Another lithium acquisition puts 92 Resources in Quebec’s James Bay region

A 1999 government mapping program identified tourmaline-bearing pegmatite outcrops on the property’s northern area, about one kilometre from a spodumene- and tourmaline-bearing pegmatite outcrop.

The company plans to review historic data prior to mapping and sampling known pegmatite occurrences.

The purchase agreement calls for three million shares and $50,000 over one year. The vendor gets a 3% NSR, of which 92 Resources may buy a third.

In June the company announced a field program at Hidden Lake, an NWT project where recent sampling assayed as high as 3.06% Li2O.

Also last month the company raised $862,820 from exercised warrants that followed an April private placement of $318,836.

Read interviews with Chris Berry and Jon Hykawy discussing energy metals.

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