VANCOUVER, BC / ACCESSWIRE / September 10, 2019 / 92 Resources Corp. (the “Company”) (TSXV:NTY)(OTCQB:RGDCF)(FSE:R9G2) is pleased to announce the base and precious metal results for the Maven Copper-Gold-Silver Exploration Trend (previously termed the “Southern Copper Exploration Trend”), from the recently completed 2019 summer field program at its Corvette-FCI Property (the “Property”). The primary objectives of the program were to sample, expand upon, and rank the known historical prospects/showings, and to discover new areas of mineralization. Highlights over the Maven Copper-Gold-Silver Exploration Trend include:
- Elsass Copper-Gold-Silver Prospect - New discovery of well-mineralized outcrops over an approximate 350 m strike length with assays including 3.63% Cu, 0.64 g/t Au, and 52.3 g/t Ag
- Lorraine Copper-Gold-Silver Prospect - New outcrop discovery approximately 2.3 km along trend of the Elsass Prospect with assays including 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag
- Several new high-grade Cu-Au-Ag areas discovered including the Black Forrest Showing with 1.13% Cu, 0.05 g/t Au, and 19.5 g/t Ag, and the Hund Showing with 3.28% Cu, 0.78 g/t Au, and 30.1 g/t Ag
Company President & CEO Adrian Lamoureux comments: “We are ecstatic with this first set of assay results from the 2019 surface program at Corvette-FCI. We have now outlined a core trend of high-grade copper-gold-silver mineralization focused on the newly discovered Elsass and Lorraine prospects. With over 8 km of underexplored prospective trend, and no drilling completed to date, we have literally only scratched the surface of this trend’s potential”.
The Corvette-FCI Property is situated within the Lac Guyer Greenstone Belt (part of the larger La Grande Greenstone Belt) and trends east-west through the region, approximately 6 to 18 km south of the Trans-Taiga Road and power line corridor. The geologic setting is prospective for gold, silver, base metals, and lithium over several potential deposit styles, including orogenic gold, volcanogenic massive sulfide (VMS), and lithium pegmatite. In addition, Midland Exploration (TSX.v - MD) has recently recognized a magmatic-hydrothermal Cu-Au-Ag-Mo deposit style in the immediate region on its adjacent Mythril Property.
Elsass Copper-Gold-Silver Prospect
The Elsass Copper-Gold-Silver Prospect is a new 2019 discovery and is located on the FCI West claim block, in an area not historically prospected, approximately 2.5 km southeast of the Golden Gap Prospect, and within the Maven Copper-Gold-Silver Exploration Trend. The main trend contains the new 2019 Lorraine, Elsass, and Black Forrest discoveries, as well as the historical Lac Smokycat-SO and Tyrone T-9 showings, collectively spanning a strike length of over 5 km. The trend continues for another 3+ km to the southeast with the incorporation of the newly discovered Hund Showing and additional proximal historical showings, for a collective prospective copper-gold-silver trend of more than 8 km. See Figure 1 and Figure 2 below.
The Elsass Prospect denotes an area of high-grade Cu-Au-Ag mineralization situated in the east-central part of the main Maven Trend and is characterized by numerous chalcopyrite mineralized outcrop exposures over an area approximately 350 m long by 60 m wide, with assays including:
- 3.63% Cu, 0.64 g/t Au, and 52.3 g/t Ag
- 2.68% Cu, 0.20 g/t Au, and 43.9 g/t Ag
- 1.86% Cu, 1.12 g/t Au, and 32.6 g/t Ag
Photo 1: Example of chalcopyrite mineralization at Elsass (To view the full-size image, please click here)
The dominant rock type at Elsass is amphibolite with a chalcopyrite - quartz ± pyrrhotite accessory mineral assemblage. The chalcopyrite is often associated with quartz and is present as disseminations, within quartz veins, or as semi-massive veinlets. Pyrite is not commonly present in any significant abundance resulting outcrops often looking less gossanous (“rusty”) and more generic in nature than normally would be expected for their metal content. Based on this observation, it is possible that well-mineralized outcrops may have been overlooked during historical exploration along the trend, presenting additional upside as the entire trend requires a deeper evaluation. Specifically, this includes to the east towards the Tyrone T-9 Showing where 3.36% Cu, 0.82 g/t Au, 38.4 g/t Ag is present in outcrop (historical sample - 1998). Additionally, approximately 300 m to the southeast from Tyrone T-9 is the newly discovered Black Forrest Showing with a sample assay of 1.13% Cu, 0.05 g/t Au, and 19.5 g/t Ag in outcrop. The immediate area is covered in till, resulting in little outcrop exposure; however, the presence of the Black Forrest outcrop further highlights the extensive Cu-Au-Ag mineralization present along the Maven Trend.
Lorraine Copper-Gold-Silver Prospect
The Lorraine Copper-Gold-Silver Prospect is a new 2019 discovery and is located on the FCI West claim block, approximately 2.3 km along trend to the west of the Elsass Copper-Gold-Silver Prospect. The area is characterized by three mineralized outcrop exposures situated over a strike length of approximately 300 metres, with assays including:
- 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag
- 1.55% Cu, 0.14 g/t Au, and 20.9 g/t Ag
- 0.23% Cu, 3.55 g/t Au, and 37.7 g/t Ag
Photo 4: Rock sample collected at the Lorraine Prospect - 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag (To view the full-size image, please click here)
The rock types and mineralization style at Lorraine are similar to that of Elsass, and are located within the same trend, suggesting a common/mutual mineralizing system/event. The area between the two prospects is considered highly prospective with very limited data collected historically.
Approximately 700 m west of Lorraine is the Lac Smokycat-SO Showing with historical surface sample grades of 1.75% Cu, 1.47 g/t Au, and 40.5 g/t Ag, as well as individual sample assay highs of 2.93% Cu, 6.26 g/t Au, and 97.7 g/t Ag. Several styles of mineralization are noted from historical descriptions including volcanogenic massive sulphide and epigenetic. The showing further highlights the copper-gold-silver mineralized signature of the Maven Trend.
The Elsass and Lorraine discoveries were made at the very end of the 2019 summer field program and therefore very limited follow-up has been completed. Correspondingly, only a single traverse was completed through the area near its north end, as such, the extent of the surface mineralization is not known. Preliminary interpretation suggests a magmatic-hydrothermal system, potentially associated with adjacent felsic dykes/sills, which will be evaluated further during the next stage of the exploration.
A crew of four (4) persons completed the 2019 summer exploration program over 23 field days, with a total of 680 rock samples collected across the three contiguous claim blocks that comprise the Property - FCI West, FCI East, and Corvette. In addition, a total of 211 soil samples were collected over a grid-focused up-ice of the Lac Bruno Prospect. A summary of the program’s base and precious metal assay results over the Maven Copper-Gold-Silver Exploration Trend have been summarized herein. Regional assay results, including those at Golden Gap and Lac Bruno, as well as all the lithium-tantalum results are being compiled and will be reported shortly.
Of the 23-field day program, approximately three-quarters were focused over FCI (East and West) and the remaining quarter over the Company’s 100% owned Corvette claim block. The 2019 exploration of the Property is being carried out by Dahrouge Geological Consulting Ltd. and managed out of Quebec.
The Company also wishes to announce the resignation of Mr. Robert Findlay from its Board of Directors. The Company thanks Mr. Findlay for his contributions and wishes him all the best in his future endeavors.
Figure 1: Historical showings and 2019 discoveries along the Maven Copper-Gold-Silver Exploration Trend (To view the full-size image, please click here)
Figure 2: Summary of 2019 assays along the main Maven Copper-Gold-Silver Exploration Trend (To view the full-size image, please click here)
Quality Assurance / Quality Control
All rock samples collected, as well as quartz blanks and certified reference materials, were shipped to ALS Canada Ltd. in Val-d’Or, QC for multi-element analysis by four-acid digestion with ICP-MS finish (package ME-ICP61) and gold analysis by fire assay with ICP-AES finish (package Au-ICP21), with over limits for Cu, Zn, Au, and Ag determined by the relevant analytical package.
Management cautions that prospecting surface rock sample assays, as presented herein, are selective by nature and represent a point location, and therefore may not necessarily be fully representative of the mineralized horizon sampled.
NI 43-101 Disclosure
Darren L. Smith, M.Sc., P.Geo., Vice President of Exploration for the Company, a Permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
About 92 Resources Corp.
92 Resources Corp is a junior mineral exploration company focused on acquiring and advancing strategic and prospective properties that position it strongly for the worlds continuing shift to high tech and green technologies including base and precious metals, and lithium.
The Company’s primary assets are the wholly owned Corvette Property and the FCI Property (held under Option from O3 Mining, a recent spin-out from Osisko Mining, for a 75% interest) located in the James Bay Region of Quebec. The properties are contiguous and host significant gold-silver-copper-lithium potential highlighted by the Golden Gap Prospect with grab samples of 3.1 to 108.9 g/t Au from outcrop and 10.5 g/t Au over 7 m in drill hole, the Elsass and Lorraine prospects with 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag in outcrop, and the CV1 Pegmatite Prospect with 2.28% Li2O over 6 m in channel.
In addition, the Company holds the Pontax Lithium-Gold Property, QC, the Golden Frac Sand Property, BC, and the Hidden Lake Lithium Property, NWT, where the Company maintains a 40% interest, as well as several other assets in Canada.
For further information, please contact Adrian Lamoureux, President & CEO at Tel: 778-945-2950, E-mail: [email protected] or visit www.92resources.com.
On Behalf of the Board of Directors,
“ADRIAN LAMOUREUX”
Adrian Lamoureux, President & CEO
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 news release.
Forward Looking Statements:
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
SOURCE: 92 Resources Corp.