92 Resources Corp (CVE:NTY) is a well-positioned junior exploration company with a focus on future and precious metals. The company’s strategic approach is to acquire and advance highly prospective modern energy-related projects in friendly mining jurisdictions.
The company’s current portfolio of lithium, frac sand, and other metal assets are primarily situated in Quebec and British Columbia in Canada. Recently, 92 Resources a secondary lithium asset in the Northwest Territories.
Broad portfolio of assets
92 has several key assets. Among the most notable are Corvette-FCI in Quebec, prospective for lithium and precious metals). This asset consists of 172 wholly-owned claims, and a further 28 claims held under option for up to a 75% interest, for combined total of 10,243 hectares.
There’s also the Eastmain property in Quebec, which is prospective for lithium and consists of 21 claims, totalling 1,109 hectares.
Then there’s Lac du Beryl, also in Quebec and also prospective for lithium, consisting of 30 claims, totalling 1,588 hectares.
Meanwhile the Pontax project in Quebec, which is prospective for lithium and precious metals, consists of 146 claims, totalling 7,773 hectares, and has recently been shown to contain a lithium-bearing pegmatite.
In British Columbia the Golden project, prospective for silica and frac sand, lies on-trend and adjacent to a producing silica deposit.
The Hidden Lake lithium project in the Northwest Territories has been optioned to Far Resources.
Finally, 92 Resources has just acquired the Silver Sands vanadium project in the Pine Pass area of British Columbia.
Results from Corvette give grounds for considerable encouragement
Channel samples of 2.28% Li2O over six metres have been returned from Corvette. Four spodumene-bearing pegmatites have been identified over a strike length of around three kilometres. The largest is greater than 175 metres in length and up to approximately 35 metres in width, with a strong tantalum component.
Well financed for next steps
At the end of 2018 92 Resources closed a non-brokered private placement for total gross proceeds of $618,000.
The company allotted and issued 12.3mln units at C$0.05 per unit. Each Unit is comprised of one flow-through common share and one-half of one non-transferable share purchase warrant, with each whole warrant entitling the holder to purchase one non-flow-through common share of the Company for a period of up to thirty-six months at a price of C$0.10.