RGDCF Acquires Three Prospective Lithium Properties in Quebec
- 92 Resources is an emerging junior exploration company
- Worldwide market for lithium is projected to grow 8.9% annually through 2019 to reach $1.7 billion
- Lithium-ion rechargeable batteries are used in the manufacture of electric vehicles, phones, laptops and digital cameras
92 Resources Corp. (TSX.V: NTY) (OTCQB: RGDCF) (FSE: R9G2) recently announced that it has acquired three new properties in Quebec, Canada, which are highly prospective in hard-rock lithium (http://nnw.fm/uH2Oc). The sites are Corvette, Eastmain, and Lac du Beryl, and consist of 115 mineral claims on a combined 14,710 acres.
92 Resources is an emerging junior exploration company focused on acquiring and advancing strategic and prospective assets. It acquired 100% interest in the Hidden Lake Lithium Property and has achieved 97% lithium extraction from its pegmatites. Lithium is used for the manufacture of rechargeable lithium-ion batteries in phones, laptops, digital cameras and electric vehicles. Aluminum-lithium alloys are used in the manufacture of aircraft, bicycle frames and high speed trains. The global market for lithium is projected to grow 8.9% annually through 2019 to reach $1.7 billion, according to The Freedonia Group (http://nnw.fm/Dh9Ms).
In a news release, Adrian Lamoureux, president and CEO of 92 Resources, said, “As we continue to aggressively advance our flagship Hidden Lake Lithium Project in NWT, we feel it is critical to maintain a pipeline of additional high-quality, early staged lithium pegmatite projects, each with potential as stand-alone properties. We are very excited by these new additions to the Company’s already high quality portfolio of assets”
In its corporate presentation (http://nnw.fm/6Bt69), 92 Resources explained that pegmatite is a type of crystal-heavy igneous rock and that hard rock lithium represents about one-third of all global reserves.
Brief due diligence site visits were made prior to the acquisition and pegmatite outcrop was confirmed at each property.
At the Corvette Project, 76 claims have been made. At the site visit, abundant coarse-grained spodumene crystals were identified. On the Eastman Project, 21 claims have been made, and it is highlighted by a large pegmatite outcrop. A total of 18 claims have been made at the Lac du Beryl Project, where several prominent outcrops of pegmatite have been seen.
For more information, visit the company’s website at www.92Resources.com