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92 Resources reports NWT lithium and tantalum channel samples, plans winter drilling

by Greg Klein | November 8, 2016

The first batch of assays from initial channel sampling on the Hidden Lake lithium project “exceeded our expectations,” 92 Resources TSXV:NTY reported November 8. The summer program focused on the LU D12 pegmatite, as well as three newly discovered pegmatites on the property 40 kilometres east of Yellowknife.

92 Resources reports NWT lithium and tantalum channel samples, plans winter drilling

Of 85 samples from 15 channels, 52 graded more than 1% Li2O, including 34 that surpassed 1.5%. The best result showed 1.53% Li2O and 64 ppm Ta2O5 over 11.58 metres, including 1.9% Li2O and 52 ppm Ta2O5 over 9.02 metres.

Tantalum averaged 88 ppm, peaking at 596 ppm. Tantalum grades will be verified through an additional analytical technique, the company added.

Sampling targeted LU D12 over an intermittent strike of about 275 metres. Still to come are assays for another 223 samples, which include the HL1, HL3 and HL4 pegmatites, “where spodumene has been visually identified,” the company stated. 92 Resources also reported finding at least two new pegmatites south of LU D12.

The company has permitting underway for a winter 2017 drill program. The 1,567-hectare Hidden Lake sits within the Yellowknife lithium pegmatite belt along Highway 4.

Although Hidden Lake remains the company’s flagship, in September 92 Resources closed the acquisition of Quebec’s Pontax lithium property, where historic satellite imagery and government mapping have shown pegmatite outcrops.

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