VANCOUVER, British Columbia, Aug. 11, 2021 (GLOBE NEWSWIRE) —
Recharge Resources Ltd. (RR: TSX-V) (SLLTF: OTC) (“Recharge” or the “Company”)
announces it has completed a corporate rebranding effort and has launched its new website with a focus on developing its recently acquired portfolio of 100% owned battery metals projects in highly prospective and mining friendly regions of North America (see Company’s press release dated August 3
rd
2021).
Recharge New Website Link:
www.recharge-resources.com
Recharge CEO and Director, Yari Nieken, states: “Recharge’s corporate rebranding and new website is now complete and better reflects the focus of the Company following its recent acquisition of a portfolio of highly prospective battery metals projects. We look forward to continuing exploration in these world class camps focusing on Nickel and Lithium.”
Battery Metals – Projects Overview
The Murray Ridge and Pinchi Lake Nickel projects are located approximately 15 to 30 km northwest of Fort St. James and 120 km northwest of Prince George in Central British Columbia. The project was previously explored by Nanton Nickel Corp. The project consists of three separate claim blocks totalling 3354.64 hectares that were carefully selected to cover the best sampling results (greater than 0.20% nickel in rocks) reported by Nanton Nickel company in 2013 shortly after the discovery of the Decar Nickel property owned FPX NICKEL CORP. Awerite was confirmed to be a constituent of the nickel values.
The Decar Nickel Project geology, which lies 60km Southwest, is analogous suite of ultramafic intrusions are hosts to widely disseminated coarse grained awaruite mineralization. Compositionally, awaruite (Ni2Fe-Ni3Fe) is comprised of approximately 75% nickel, 25% iron and 0% sulfur, and therefore it is considered “natural steel”. Absence of sulfur allows a concentrate to be shipped directly to steel mills without incurring smelting and refining costs, and minimal environmental problems.
The Georgia Lake North & West Lithium Properties next to RockTech Lithium’s Georgia Lake Property consist of two projects totalling 320 hectares and 432 hectares respectively. The neighboring RockTech project is located 160 km northeast of Thunder Bay within the Thunder Bay Mining Division and is host to a number of spodumene-bearing pegmatites. Lithium mineralization was discovered in 1955 and subsequently explored by several historic owners. RockTech acquired the licenses in 2009 and carried out several drill campaigns until 2017. Based on a total of 351 drill holes with a combined length of 47,384 m an NI43-101 compliant resource estimate of 6.58 million tonnes in the measured and indicated category and 6.72 million tonnes in the inferred category was published in August 2018.
The Brussels Creek property is located in the Kamloops Mining Division, approximately 10 km west of the currently producing New Afton Copper-Gold Mine (“NGD” New Gold Inc.) and exhibit a similar geological setting. In March 2020, a helicopter-borne magnetometer survey was completed by Precision GeoSurveys Inc, of Langley, BC. The survey coverage totaled 402.651 line-kilometres with an interpretation report completed in April 2020 by Kit Campbell of Campbell and Walker Geophysics Ltd, North Vancouver, BC (Campbell, 2020).
The magnetic survey provided valuable structural and geological information. A suite of filters and derivatives have been applied to the aeromagnetic gridded data, followed by a multiscale edge detection and automated grid “fractal” analysis to identify regions prospective for gold mineralization based on structural complexity as inferred from magnetics being indicative of significant faults/shears. The 2020 detailed survey specifically flown for this project was merged with two previous Federal Government surveys (Iron Mask and Kamloops, both now in the public domain) in order to provide better context for the Brussels Creek property to the regional geology. Enhanced filters for geological mapping were applied to the magnetic data of the merged surveys with the results aiding in the interpretation of the magnetized lithologies, segregating anomalous zones into apparent lithological categories.
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,
“Yari Nieken”
Yari Nieken, CEO
For further information, please contact:
Recharge Resources Ltd.
Mr. Joel Warawa
Phone: 778-588-5473
E-Mail:
[email protected]
Website:
www.recharge-resources.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) 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 inability to identify transactions having satisfactory terms or at all and the 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.
