Vancouver, BC, June 27, 2022 (GLOBE NEWSWIRE) —
Recharge
Resources Ltd. (“Recharge” or the “Company”) (RR:
CSE
) (
RECH
F: OTC)
(SL5:
Frankfurt)
is pleased to report that it has applied for and is awaiting the approval of diamond drilling permits for its 100% owned Brussels creek Copper-Gold-Palladium property, located in the Kamloops Mining District, British Columbia.
The fully funded Phase 1 Drill Program was designed based on the results of the previously announced Induced Polarization (IP) survey to establish the potential for copper-gold mineralization similar to mineralization present at the adjacent New Afton mine owned by New Gold Inc. (NGD – TSX).
The interpretation led to the selection of five high-priority drill targets, with each hole approximately 300 m in depth, for a total proposed program of 1500 metres. The targets for these proposed locations are highly conductive zones which are interpreted to continue from surface outcrops below near-surface more resistive zones.
Recharge Resources CEO and director, David Greenway, states,
”
With Recharge’s recently
closed
flow through private placement
the company is fully funded for its designed Phase 1 drill program.
Recharge was greatly encouraged by the results of the
Quantec
IP survey and excited to drill test these new high-priority targets at Brussels.”
About the Brussels Creek Project
The Property is an early-stage exploration property, located approximately 24 kilometres west of Kamloops, B.C., and is immediately adjacent to New Gold’s New Afton mine. The Property comprises 17 claims (66 cells) covering 1,350.43 hectares. The geological setting of the property is very similar to New Afton, a silica-saturated copper-gold alkalic porphyry-style deposit, as well as the Highland Valley, Mount Polly, Kemess and Galore Creek deposits. Recent field observations noted the presence of a substantial mineralized quartz-feldspar porphyry body intruding the overlying Nicola group volcanics. Historic sampling and mapping on the property, in 1983 and 1984, located a broad anomalous zone (200 metres by 400 metres) with gold values up to 3.5 grams per tonne. Grab samples taken from the property in 2019 include values of 10.1 g/t Au (with 0.7 g/t palladium) and 11.5 g/t Au.
Qualified person
Chris M. Healey, P. Geo., Consulting Geologist, is the qualified person as defined by NI 43-101 responsible for the technical content of this release, and consents to its release.
About
Recharge
Resources
Recharge Resources is a Canadian mineral exploration company focused on exploring and developing the production of high-value battery metals to create green, renewable energy to meet the demands of the advancing electric vehicle and fuel cell vehicle market.
On Behalf of the Board of Directors,
“David Greenway”
David Greenway, CEO
For further information, please contact:
Recharge Resources Ltd.
Mr. Joel Warawa
Phone: 778-588-5473
E-Mail:
[email protected]
Website:
recharge-resources.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding Recharge’s intention to continue to identify potential transactions and make certain corporate changes and applications. Forward looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans,
expectations
or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results,
performance
or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Recharge will obtain from them. These forward-looking statements reflect managements’ current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect.
A number of
risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including Recharge’s results of exploration or review of properties that Recharge does acquire. These forward-looking statements are made as of the date of this news release and Recharge assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.
