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92 Resources’ latest discovery highlights the potential for additional pegmatites at Hidden Lake

Friday, January 12, 2018 14:57
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92 Resources Corp (CVE:NTY) said channel samples from its 2017 field program at the Hidden Lake lithium project topped out at 2.57% lithium oxide.

Its 2017 field program at Hidden Lake, in the Northwest Territories, focused on the evaluation of new targets in close proximity to the D12, HL1, HL3, and HL4 pegmatites, where up to 3.31% lithium oxide (Li2O) has been sampled in previous programs. This work included mapping and channel sampling of the HL6 and HL8 pegmatite bodies, which were discovered at the end of the 2016 field season with grab samples up to 1.86% Li2O.

The company said eight channel samples from the HL6 pegmatite assayed more than 1% lithium oxide, and the body remains a strong target for drill testing along with the D12, HL1, HL3, and HL4 pegmatites

Additionally, significant grades of tantalum pentoxide (Ta2O5) were discovered in the HL8 pegmatite, with a 5.1 metre channel grading 162 parts per million (ppm) Ta2O5 to a peak of 233 ppm.

The discovery of tantalum zones in the area is encouraging, the company said, and bolsters the project’s potential for tantalum, as well as for coupled zones of lithium and tantalum, to be discovered elsewhere on the property.

The company also reported the discovery of a new lithium-bearing pegmatite on the property, which it has designated at HL13, with 0.48% Li2O returned from initial sampling. This new pegmatite is relatively large with a length of roughly 200 metres and it shares a similar trend and character to that of HL1, HL3, HL4, and D12.

The discovery highlights the potential for additional pegmatites to exist on the property, with the total number of lithium-bearing pegmatites discovered at Hidden Lake now up to seven.

The company is in the process of planning an early 2018 drill program where the overarching objective will be to delineate sufficient tonnage/grade to support an initial mineral resource estimate for the project.

A portion of the program is expected to be funded through the C$140,000 grant awarded under the Northwest Territories Mining Incentive Program

 

Story by ProactiveInvestors



Source: http://www.proactiveinvestors.com/companies/news/189971/92-resources-latest-discovery-highlights-the-potential-for-additional-pegmatites-at-hidden-lake-189971.html

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