Sunday 11th December 2016

Resource Clips


Posts tagged ‘92 Resources Corp (NTY)’

92 Resources reports NWT lithium of 1.58% Li2O over 8.78 metres with 31 ppm Ta2O5

November 28th, 2016

by Greg Klein | November 28, 2016

92 Resources reports NWT lithium

Six known pegmatites with impressive strike lengths
offer considerable potential, the company states.

A second and final batch of lithium assays from Hidden Lake’s summer program once again “exceeded our expectations,” 92 Resources TSXV:NTY stated November 28. The company now reports that 101 out of 223 channel samples from three pegmatites on the Northwest Territories project graded over 1% Li2O, with 59 surpassing 1.5%. Tantalum was found too, with some highlights from this batch showing:

HL3 pegmatite

  • 1.58% Li2O and 31 ppm Ta2O5 over 8.78 metres
  • (including 1.78% Li2O and 31 ppm Ta2O5 over 6.93 metres)

HL1

  • 1.26% Li2O and 27 ppm Ta2O5 over 8.72 metres

HL4

  • 1.71% Li2O and 33 ppm Ta2O5 over 5.78 metres

Of 10 grab samples taken during regional prospecting, one graded 1.86% Li2O. As reported earlier this month, two more pegmatites have been found on the property, bringing the total to six so far. “With exposed strike lengths of 350 to 800 metres, the potential for significant concentrations of spodumene pegmatites remains very high,” said president/CEO Adrian Lamoureux.

Located along Highway 4, 40 kilometres east of Yellowknife, the 1,567-hectare property lies within the Yellowknife lithium pegmatite belt.

In September the company closed its acquisition of the Pontax lithium property in northern Quebec, where historic satellite imagery and government mapping have shown pegmatite outcrops.

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

November 8th, 2016

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.

92 Resources president/CEO Adrian Lamoureux discusses the Northwest Territories’ Hidden Lake project

September 14th, 2016

…Read more

Assays pending, sampling continues at 92 Resources’ NWT lithium project

August 30th, 2016

by Greg Klein | August 30, 2016

While waiting for assays from the property’s LU #12 pegmatite dyke, channel sampling continues on 92 Resources’ (TSXV:NTY) Hidden Lake lithium project in the Northwest Territories, the company announced August 30. LU #12 took priority in the Phase II program, having previously given up seven samples ranging between 1.27% and 3.01% Li2O within a 10- by 300-metre area. A crew from Dahrouge Geological Consulting took another 85 samples from 15 channels on the dyke this summer.

Assays pending, sampling continues at 92 Resources’ NWT lithium project

Attention has now turned to three nearby pegmatites observed to have appreciable amounts of spodumene, 92 Resources stated. Channel sampling now underway will test the pegmatites for lithium.

The 1,657-hectare Hidden Lake project sits 40 kilometres northeast of Yellowknife, just off Highway 4.

Last month 92 Resources announced its acquisition of the 5,536-hectare Pontax property in Quebec’s James Bay region. Historic satellite imagery and a 1999 government mapping program have shown pegmatite outcrops on the property.

The company raised $318,836 from a private placement in April, followed by $862,820 from exercised warrants in June.

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

92 Resources follows high-grade lithium sampling with Phase II NWT exploration

August 16th, 2016

by Greg Klein | August 16, 2016

Despite a nearly two-month delay as the company acquired additional turf, field work has resumed at 92 Resources’ (TSXV:NTY) Hidden Lake lithium project. Mapping and channel sampling on known pegmatites in the Northwest Territories property will likely continue into early September.

Targets include the LU #12 pegmatite dyke where last spring the crew found five samples grading 1.64%, 2.45%, 2.69%, 2.89% and 3.06% Li2O, for an average grade of 2.54%. The pegmatite continues northeast and southwest of the sampled area, the company stated.

The Yellowknife pegmatite belt may one day prove to be an important source of lithium, which will help fuel Canada’s transition to a green energy economy.—Adrian Lamoureux,
president/CEO of 92 Resources

Last month 92 Resources staked an additional 57 hectares, covering potential extensions of pegmatites revealed by satellite imagery. Now measuring 1,657 hectares, Hidden Lake sits 40 kilometres northeast of Yellowknife, just off a highway.

“The Yellowknife pegmatite belt may one day prove to be an important source of lithium, which will help fuel Canada’s transition to a green energy economy,” said president/CEO Adrian Lamoureux. Hidden Lake is located within the central parts of the belt, which parallels the Prosperous Lake granite suite.

In July the company announced acquisition of the 5,536-hectare Pontax property in Quebec’s James Bay region. Pegmatite outcrops have been revealed by historic satellite imagery and a 1999 government mapping program.

92 Resources raised $862,820 from exercised warrants in June and $318,836 from a private placement in April.

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

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

July 26th, 2016

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.

92 Resources announces financing, summer field work at NWT lithium project

June 20th, 2016

by Greg Klein | June 20, 2016

92 Resources announces financing, summer field work at NWT lithium project

Freshly bankrolled and following up on high-grade sampling, 92 Resources TSXV:NTY returns to Hidden Lake for a summer program of field work. The company has engaged Dahrouge Geological Consulting to begin mapping and channel sampling known pegmatites shortly. Among the targets will be the LU #12 pegmatite dyke, from which the company reported five samples grading 1.64%, 2.45%, 2.69%, 2.89% and 3.06% Li2O earlier this month.

Seven historic surface trench samples from LU #12 graded between 1.37% and 3.01%.

92 Resources also announced an infusion of $862,820 from exercised warrants. In April the company closed a private placement totalling $318,836.

The 1,600-hectare Hidden Lake project sits within the Yellowknife Pegmatite Belt, just north of Highway 4 and about 40 kilometres northeast of the city of Yellowknife.

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

Exploring opportunity

June 17th, 2016

A capacity crowd attends the first annual Vancouver Commodity Forum

by Greg Klein
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A capacity crowd attends the first annual Vancouver Commodity Forum

 

“There’s excitement in the air,” said Cambridge House International founder Joe Martin. That’s the mood he senses as junior explorers emerge from the downturn. And certainly optimism was evident on June 14 as more than 450 people converged on the Vancouver Commodity Forum for an afternoon of expert talks amid a showcase of two dozen companies. Keynote speakers included Martin, Chris Berry of the Disruptive Discoveries Journal, Jon Hykawy of Stormcrow Capital, John Kaiser of Kaiser Research Online and Stephan Bogner of Rockstone Research.

A capacity crowd attends the first annual Vancouver Commodity Forum

Lithium, not surprisingly, stood out as a commodity of interest. While cautioning against over-enthusiasm for the exploration rush, Berry and Hykawy each affirmed the need for juniors to find new sources of the metal. Cobalt and scandium featured prominently too, as did other commodities including what Kaiser called “the weird metals”—lesser known stuff that’s vital to our lives but threatened with security of supply.

Kaiser also noted he was addressing a crowd larger than his last PDAC audience, another indication that “we’ve turned the corner.”

Attendees also met and mingled with company reps. Potential investors learned about a wide gamut of projects aspiring to meet a growing demand for necessities, conveniences and luxuries.

Presented by Zimtu Capital TSXV:ZC, the forum’s success will make it an annual event, said company president Dave Hodge. Berry emceed the conference, holding the unenviable task of “making sure Dave stays well-behaved.”

Read interviews with keynote speakers:

Meet the companies

Most companies were core holdings of Zimtu, a prospect generator that connects explorers with properties and also shares management, technical and financing expertise. Zimtu offers investors participation in a range of commodities and companies, including some at the pre-IPO stage.

After sampling high-grade lithium on its Hidden Lake project in the Northwest Territories earlier this month, 92 Resources TSXV:NTY plans to return in mid-July for a program of mapping, exposing spodumene-bearing pegmatite dykes, and channel sampling. The company closed the final tranche of a private placement totalling $318,836 in April. Hidden Lake’s located near Highway 4, about 40 kilometres from Yellowknife and within the Yellowknife Pegmatite Belt.

With one of the Athabasca Basin’s largest and most prospective exploration portfolios, ALX Uranium TSXV:AL has a number of projects competing for flagship status. Among them is Hook-Carter, which covers extensions of three known conductive trends, one of them hosting the sensational discoveries of Fission Uranium TSX:FCU and NexGen Energy TSXV:NXE. ALX’s strategic partnership with Holystone Energy allows that company to invest up to $750,000 in ALX and retain the right to maintain its ownership level for three years. ALX closed a private placement first tranche of $255,000 last month, amid this year’s busy news flow from a number of the company’s active projects.

A capacity crowd attends the first annual Vancouver Commodity Forum

Arctic Star Exploration TSXV:ADD boasts one of northern Canada’s largest 100%-held diamond exploration portfolios. Among the properties are the drill-ready Stein project in Nunavut and others in the Lac de Gras region that’s the world’s third-largest diamond producer by value. North Arrow Minerals TSXV:NAR holds an option to earn up to 55% of Arctic Star’s Redemption property.

Aurvista Gold TSXV:AVA considers its Douay property one of Quebec’s largest and last undeveloped gold projects. The Abitibi property has resources totalling 238,400 ounces of gold indicated and 2.75 million ounces inferred. Now, with $1.1 million raised last month, the company hopes to increase those numbers through a summer program including 4,000 metres of drilling. Douay’s 2014 PEA used a 5% discount rate to forecast a post-tax NPV of $16.6 million and a post-tax IRR of 40%.

Looking for lithium in Nevada, Belmont Resources TSXV:BEA now has a geophysics crew en route to its Kibby Basin property, which the company believes could potentially host lithium-bearing brines in a similar geological setting to the Clayton Valley, about 65 kilometres south. Results from the gravity survey will help identify targets for direct push drilling and sampling.

A mineral perhaps overlooked in the effort to supply green technologies, zeolite has several environmental applications. Canadian Zeolite TSXV:CNZ holds two projects in southern British Columbia, Sun Group and Bromley Creek, the latter an active quarrying operation.

With a high-grade, near-surface rare earths deposit hosted in minerals that have proven processing, Commerce Resources TSXV:CCE takes its Ashram project in Quebec towards pre-feasibility. The relatively straightforward mineralogy contributes to steady progress in metallurgical studies. Commerce also holds southeastern B.C.’s Blue River tantalum-niobium deposit, which reached PEA in 2011 and a resource update in 2013.

Permitted for construction following a 2014 PEA, Copper North Mining’s (TSXV:COL) Carmacks copper-gold-silver project now undergoes revised PEA studies. The agenda calls for improved economics by creating a new leach and development plan for the south-central Yukon property. In central B.C. the company holds the Thor exploration property, 20 kilometres south of the historic Kemess mine.

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June 8th, 2016

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Elon Musk: Our lithium-ion batteries should be called nickel-graphite Benchmark Mineral Intelligence
Dissecting lithium battery technology Industrial Minerals
Lithium in Las Vegas: A closer look at the lithium bull The Disruptive Discoveries Journal
A tale of two gluts: Oil and ore approach $50 on opposite paths NAI 500

92 Resources announces high-grade lithium samples in the Northwest Territories

June 7th, 2016

by Greg Klein | June 7, 2016

A field program by Dahrouge Geological Consulting has confirmed historic lithium results at 92 Resources’ (TSXV:NTY) Hidden Lake project. Five samples reported June 7 from a dyke area measuring about 30 by 150 metres graded 1.64%, 2.45%, 2.69%, 2.89% and 3.06% Li2O, with an average of 2.54%. Seven historic samples returned assays between 1.37% and 3.01% Li2O.

92 Resources announces high-grade lithium samples in the Northwest Territories

The 1,600-hectare property sits just north of Highway 4, about 40 kilometres northeast of Yellowknife, within the Yellowknife Pegmatite Belt.

“The dominant lithium-bearing mineral appears to be very coarse-grained, light grey to light greenish-grey spodumene,” 92 Resources stated. “The pegmatite continues both to the northeast and southwest of the sampled area.”

Air photos of pegmatite dykes cleared by recent forest fires reveal further exploration targets, the company added. 92 Resources plans to return in mid-July with a program of mapping, exposing spodumene-bearing pegmatite dykes, and channel sampling those outcrops.

In April the company closed the final tranche of a private placement totalling $318,836.

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