Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

92 Resources Corp identifies potential gold targets after airborne survey at Pontax property

Wednesday, June 13, 2018 11:33
% of readers think this story is Fact. Add your two cents.

Energy metals focused firm 92 Resources Corp (CVE:NTY) updated on developments at its Pontax property in the James Bay region of Quebec, where numerous targets have been identified after an airborne magnetic survey.

The group said a 1,094-line-km airborne survey has now been completed over the whole property, which comprises four claim blocks totalling 5,536 hectares.

Pontax also hosts favourable geologic setting for gold

Several large-scale structures were identified by the survey within the greenstone belt, which are thought to be highly prospective for gold mineralization.

As an immediate follow-up, the firm consolidated its land position in the emerging district with the acquisition (pending) of an additional 42 claims (about 2,236 hectares) contiguous to the main claim block and covering prospective gold targets.

Upon confirmation of the pending claims, Pontax will consist of 146 claims for around 7,772 hectares.

Also on the lithium front, within weeks, the firm will be mobilising field crews to the Pontax area to evaluate the spodumene content of historically mapped pegmatite outcrops, as well as potential pegmatites identified from satellite imagery.

Pontax remains underexplored for its lithium pegmatite potential and only limited exploration was completed historically.

The property lies between five and 30km southwest of, and on geologic trend from, Stria Lithium’s Pontax lithium project.

Here, intersections have been found of 0.97% lithium oxide (Li2O) over 21 m (meters), including 1.43% Li2O over 13m.

As well as lithium, Pontax property also hosts a favourable geologic setting for gold, while the area has seen limited exploration on that front, noted 92 Resources.

Regional work completed last year by the Ministere des ressource naturelles identified numerous gold occurrences consisting of pristine gold grains in till samples, which were collected proximal to the western parts of the property.

92 Resources shares surged 11.11% to C$0.05 on the day.

Story by ProactiveInvestors



Source: http://www.proactiveinvestors.com/companies/news/198798/92-resources-corp-identifies-potential-gold-targets-after-airborne-survey-at-pontax-property-198798.html

We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories
 

Featured

Loading...

Top Global

Top Alternative

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.