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92 Resources finds new potential for gold, copper, lithium in northern Quebec

by Greg Klein | August 8, 2019

With the conclusion of a productive summer field program, additional areas of interest open up at the James Bay-region Corvette-FCI property. A four-person, 23-day campaign discovered a new copper prospect, further explored a gold prospect and found several spodumene-bearing pegmatites, among other showings. Encouraging visual evidence has 92 Resources TSXV:NTY looking forward to assays.

About three-quarters of the program focused on the project’s FCI-East and FCI-West blocks, optioned under a 75% earn-in from Osisko Mining TSX:OSK. The rest targeted 92’s 100%-held Corvette claims. 

92 Resources finds new potential for gold, copper, lithium in northern Quebec

Chalcopyrite mineralization at the Elsass copper
prospect opens a new area of interest for 92 Resources.

Discovered late in the season, the Elsass copper prospect features chalcopyrite mineralization at surface over widths estimated from 40 to 60 metres along a strike of at least a kilometre. Pending lab results for surface samples, the crew could return this fall for further exploration.

The company also awaits assays from the property’s Lac Bruno gold prospect. Finding similar mineralogy up-ice from a boulder field where historic, non-43-101 samples graded between 1 g/t and 38 g/t gold, the crew collected soil samples on the 100%-held Corvette claims.

Apart from precious and base metals, Corvette-FCI shows potential for energy minerals. The summer program found the project’s largest known pegmatite so far. An outcrop about 220 metres long and 20 to 40 metres wide was located about a kilometre southwest along strike of the property’s CV1 and CV2 pegmatites. Lithium-tantalum channel samples released last year from CV1 reached up to 2.28% Li2O and 471 ppm Ta2O5 over six metres. Still to come are this summer’s assays.

The campaign also targeted the Golden Gap prospect at FCI West, where historic results include outcrop samples between 3.1 g/t and 108.9 g/t gold, a drill intercept of 10.5 g/t over seven metres, and a channel sample of 14.5 g/t over two metres.

The summer program also focused on the southern copper trend and other historic mineral showings, 92 reported.

Corvette-FCI sits within the Lac Guyer Greenstone Belt, part of the La Grande Greenstone Belt, about six to 18 kilometres south of the Trans-Taiga Road and powerline.

The company’s Quebec portfolio also includes the Eastman, Lac du Beryl and Pontax properties. Grab samples from the latter graded up to 0.94% Li2O and 520 ppm Ta2O5.

92’s diverse projects extend to British Columbia and the Northwest Territories. In B.C. the company holds the Silver Sands vanadium prospect and, adjacent to Northern Silica’s high-grade Moberly silica mine, the Golden frac sand project. 92 also has a 40% stake in the NWT’s Hidden Lake lithium project, where Far Resources CSE:FAT holds the remainder. All 10 holes of last year’s 1,079-metre drill campaign found grades above 1% Li2O, with one intercept showing 1.6% over 9.2 metres. A mini pilot plant produced 40 kilograms of concentrate grading 6.11% Li2O, with recovery surpassing 80%, from Hidden Lake material.

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