Sign up Australia
Proactive Investors - Run By Investors For Investors

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

The Hidden Lake lithium property is located in the heart of the Yellowknife pegmatite district
Mining area
The discovery of tantalum zones in the area is encouraging

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


View full NTY profile View Profile

92 Resources Corp Timeline

Related Articles

De Grey Mining's Simon Lill at Proactive's CEO Sessions
November 16 2017
Simon Lill discussed with investors conglomerate gold targets in the Pilbara.
January 11 2018
Tanzania, and the wider East African region, are acutely short of power
January 30 2018
Tango Mining is looking forward to a strong 2018, as diamond production comes on stream from two mines

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use