Monday 26th June 2017

Resource Clips


Posts tagged ‘92 Resources Corp (NTY)’

92 Resources begins frac sand field work while advancing lithium metallurgy

June 6th, 2017

by Greg Klein | June 6, 2017

With a crew already en route, 92 Resources TSXV:NTY has a 10-day exploration program about to begin on its Golden frac sand project in eastern British Columbia. A team from Dahrouge Geological Consulting will undertake further mapping and sampling for a 43-101 technical report. While the company’s focus remains the Hidden Lake lithium project in the Northwest Territories, 92 Resources sees potential in another energy-related commodity.

92 Resources begins frac sand field work while advancing lithium metallurgy

“Despite fluctuating oil and gas prices, North American demand for frac sand is exceptionally robust and there remains a nearly non-existent domestic supply of high-quality proppant within Canada,” said president/CEO Adrian Lamoureux.

Close to the Alberta border and with nearby roads, the property’s located five kilometres from Golden, B.C., on the Canadian Pacific main line. Adjacent to the property is Heemskirk Canada’s Moberly project, a former producer of silica sand for the glass industry that’s now being redeveloped as a frac sand production and processing operation. The parent company, Heemskirk Consolidated, is the object of a takeover bid by Northern Silica, held by Taurus Resources No. 2 Fund.

Running through the 3,211-hectare Golden property is an 18-kilometre strike of the Mount Wilson formation, described as hosting high-purity, white, quartzite and friable sandstones. Four samples collected in 2014 showed silica content averaging 98.6% SiO2, with low boron and iron values. “Preliminary testing on these samples indicates favourable frac sand characteristics, as well as metallurgical-grade silica potential,” 92 Resources stated.

Last week the company announced initial results from Phase I metallurgical tests for its Hidden Lake lithium property in the NWT. Early findings suggest material from the hard rock project might be suitable for a conventional flowsheet. As the program goes into Phase II, potential tantalum recovery will be examined as well. 92 Resources filed a 43-101 technical report on the property in January.

The company also holds the 5,536-hectare Pontax lithium property in northern Quebec.

92 Resources advances metallurgy for NWT hard rock lithium

June 1st, 2017

by Greg Klein | June 1, 2017

Phase I mineralogy studies have 92 Resources TSXV:NTY confident that its Hidden Lake lithium project in the Northwest Territories could be amenable to a conventional flowsheet. QEMSCAN and Electron Probe Micro Analysis on a composite sample from each of four pegmatites showed similar results, confirming spodumene as the primary host of lithium. The coarse-grained spodumene shows very good liberation characteristics and low iron content, the company stated.

92 Resources advances metallurgy for NWT hard rock lithium

The 1,659-hectare Hidden Lake project has all-weather
road access to Yellowknife, 45 kilometres southwest.

Spodumene liberation “indicates a strong potential for recovery using dense media separation and flotation techniques, which are common processing methods applied to spodumene-bearing pegmatites,” 92 Resources added.

The program also found potential for tantalum recovery, which will be further assessed in Phase II. About to begin, the program will conduct flotation tests to determine the reagent scheme and assess the ability to produce spodumene concentrate without additional processing.

Last year’s channel sampling targeted four of six known lithium-bearing spodumene dykes, with the best result showing:

  • 1.58% Li2O and 31 ppm Ta2O5 over 8.78 metres

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

The company filed a 43-101 technical report on Hidden Lake in January.

92 Resources’ portfolio also includes the 5,536-hectare Pontax lithium prospect in northern Quebec and the 3,211-hectare Golden frac sand project in southeastern British Columbia.

In February the company closed an oversubscribed private placement of $895,199.

92 Resources president/CEO Adrian Lamoureux notes the advantages of southeastern British Columbia’s relative proximity to oil and gas plays

April 20th, 2017

…Read more

92 Resources begins metallurgical tests on NWT lithium

March 28th, 2017

by Greg Klein | March 28, 2017

A Northwest Territories lithium project gets its first-ever metallurgical studies as 92 Resources TSXV:NTY announced a two-phase program on March 28. The 1,659-hectare Hidden Lake property underwent channel sampling last year on four of six known lithium-bearing spodumene dykes, with the best intercept showing:

  • 1.58% Li2O and 31 ppm Ta2O5 over 8.78 metres

  • (including 1.78% Li2O and 31 ppm Ta2O5 over 6.93 metres)
92 Resources begins metallurgical tests on NWT lithium

Hidden Lake’s metallurgical tests follow
last year’s successful sampling program.

The met program’s first phase examines the property’s spodumene and waste materials, leading to a mineral processing phase intended to separate the two and produce a high-grade concentrate.

Material from four pegmatites will be evaluated separately and, if no significant differences are found, a single composite will undergo processing tests. Those tests would include grinding, heavy liquid separation, magnetic separation and flotation. Plans then call for a preliminary flowsheet and a small amount of potentially marketable spodumene concentrate.

The program will also evaluate potential tantalum recovery.

Hidden Lake has all-weather road access to Yellowknife, 45 kilometres southwest. Carrying out the tests will be SGS Canada, which has considerable experience in spodumene pegmatite processing, 92 Resources stated.

In northern Quebec, 92 Resources has initial lithium exploration planned for Pontax, a 5,536-hectare property in a district known for spodumene-bearing pegmatites as well as gold potential.

Earlier this month the company expanded its Golden frac sand project from 807 hectares to 3,211 hectares. The southeastern British Columbia property sits adjacent to the Moberly silica sand project, now being redeveloped into a frac sand operation and among the assets sought by Northern Silica in its takeover bid for Heemskirk Consolidated.

Late last month 92 Resources closed an oversubscribed private placement of $895,199.

92 Resources expands B.C. frac sand property adjacent to takeover target

March 13th, 2017

by Greg Klein | March 13, 2017

A 2,404-hectare addition to 92 Resources’ (TSXV:NTY) Golden frac sand property brings the total to 3,211 hectares next to a silica sand mine in southeastern British Columbia.

“A domestic or western Canadian frac sand deposit with suitable quality would benefit from more advantageous transportation and exchange rate costs over foreign competitors,” said 92 Resources president/CEO Adrian Lamoureux. “We believe these to be important factors in the recent takeover of the neighbouring Moberly silica sand mine.”

92 Resources expands B.C. frac sand property adjacent to takeover target

Next door to the Golden property, Heemskirk Canada’s Moberly project produced silica sand for high-quality glass manufacture for over 30 years. It’s now being redeveloped as a frac sand production and processing operation. Meanwhile Heemskirk’s parent company, Heemskirk Consolidated, is subject to a takeover bid by Northern Silica, a subsidiary of Taurus Resources No. 2 BC, that’s expected to close next month.

Golden’s expansion gives the property over 18 kilometres of strike along the Mount Wilson formation, which consists of high-purity, white quartzite, 92 Resources stated. With only initial prospecting, sampling and testing done so far, results from the most recent program in 2014 show silica content grading 98.3% to 99% SiO2. In two of four samples, over 65% of material fell in the 40- to 170-mesh range. “The two adequate size fraction samples passed 6,000 PSI compressibility testing, each producing 8.1% fines,” the company added.

92 Resources has mapping, sampling and drilling now in the planning stages for Golden.

Besides a product used in oil and gas exploration, 92 Resources pursues a clean energy commodity at two lithium properties. In January the company filed a 43-101 for its Hidden Lake project in the Northwest Territories, which hosts at least six lithium-bearing spodumene dykes. Channel samples on four of them averaged 1.03% Li2O, with one hitting a peak of 3.31%. Ground magnetics, along with liquid separation and flotation tests, have been recommended for the project.

The 1,659-hectare property has all-weather access to Yellowknife, 45 kilometres southwest.

92 Resources also anticipates initial exploration this year on its 5,536-hectare Pontax property in Quebec’s James Bay region.

Last month the company closed an oversubscribed private placement of $895,199.

92 Resources files 43-101 for NWT lithium project, outlines 2017 plans

January 24th, 2017

by Greg Klein | January 24, 2017

Crediting itself with a successful 2016, 92 Resources TSXV:NTY greeted the new year with a 43-101 technical report for its Hidden Lake lithium project and outlined plans for two other “new energy” properties. Besides the Northwest Territories’ Hidden Lake, the company holds the Pontax lithium property in northern Quebec and the Golden frac sand property in southeastern British Columbia.

92 Resources files 43-101 for NWT lithium project, outlines 2017 plans

With sample bags ready for the lab, a
geologist documents the Hidden Lake project.

Last year’s channel sampling at the Hidden Lake flagship tested four of at least six known lithium-bearing spodumene dykes, with the 308 samples averaging 1.03% Li2O. Forty-nine channels averaged over 0.5%, with the average grade and length for the 49 coming to 1.16% over 5.29 metres. One sample hit a peak of 3.31% Li2O.

Encouraged by the results, the report’s author proposed a ground magnetics survey, along with liquid separation and flotation tests to confirm samples are suitable for producing a spodumene concentrate. Should work prove successful, the next phase would call for drilling and further metallurgy.

The 1,659-hectare property has both helicopter access and an all-weather road connection to Yellowknife, 45 kilometres southwest.

The 5,536-hectare Pontax property, in a district known for spodumene-bearing pegmatites and geology favourable to gold occurrences, has initial exploration expected this year. The company also intends to develop opportunities around its 808-hectare Golden frac sand property, adjacent to Heemskirk Canada’s Moberly silica mine.

92 Resources raised a total of $1.49 million last year.

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.