(TheNewswire)
Vancouver, BC - TheNewswire - March 23, 2023 - Recharge Resources Ltd. ("Recharge" or the"Company") (RR:CSE) (RECHF:OTC) (SL50: Frankfurt) announced today that the fully-funded, winter drill program at its 100% owned Brussels Creek Gold-Copper-Palladium Project inKamloops, BC, Canada, is underway.
The first hole has been drilled to the target depth andcompleted with 52 samples, cut by hand, labelled with metal dynolabels and now delivered by hand to ALS Lab. All core was kept underlock and key until delivered to the lab. The rig will now be moved tothe 2 nd drill hole location.
Paradigm Drilling delivered the skid mount, Boyles 25model drill rig to the staging area near the Brussels Creek propertywith drilling about to commence to complete 900 meters of NQ size coredrilling in three holes. Of these 900 meters, hole collar angles willbe between -50 and -90 degrees, and borehole depths will not exceed350 meters.
The aim of the 900-meter NQ drill program is to testthe potential for copper-gold mineralization similar to that presentat the at the adjacent New Afton mine owned byNew Gold Inc. NGD.V ($1.11 Billion Market Cap). The New Afton Mine occupies the site of the historic Afton Open Pitmine, which operated from 1977 to 1997. The present mine andconcentrator facility commenced production in July 2012. The mine is ablock caving operation. In 2021, the mine produced 52,542 oz Au and61,700,000 lbs Cu.
CEO, David Greenway, summarised, "Recharge ispushing forward on all fronts with drilling now underway and hole 1completed with mineralization reportedly being observed at theBrussels Creek Copper-Palladium-Gold Project. Drilling is pending atthe Pocitos lithium brine project and a Spring recon program nowapproved for the Georgia Lake Lithium project.
“We thank Mr. Shearer and all those involved in theconsultation and drill planning process. Recharge is committed tosustainable exploration and mining practices. This is a pivotal timefor the Brussels Creek Project in BC, with the drill program havingstarted.”
Brussels Creek Project
The BC property is an early-stage exploration property, locatedapproximately 24 kilometres west of Kamloops , and is immediately adjacent to NewGold's New Afton mine. The p roperty has 17claims (66 cells) covering 1,350.43 hectares. The geological settingof the property is very similar to New Afton, a silica-saturatedcopper-gold alkalic porphyry-style deposit, as well as the HighlandValley, Mount Polly, Kemess and Galore Creek deposits. Recent fieldobservations noted the presence of a substantial mineralizedquartz-feldspar porphyry body intruding the overlying Nicola groupvolcanics. Historic sampling and mapping on the property, in 1983 and1984, located a broad anomalous zone (200 metres by 400 metres) withgold values up to 3.5 grams per tonne. Grab samples taken from theproperty in 2019 include values of 10.1 g/t Au (with 0.7 g/tpalladium) and 11.5 g/t Au.
Brussels Creek WebPage: https://recharge-resources.com/projects/brussels-creek/
Recharge’s management cautions that past results ordiscoveries on properties in proximity to Recharge may not necessarilybe indicative of the presence of mineralization on the Company'sproperties.
Qualified Person
Johan T Shearer, P. Geo., Consulting Geologist, is thequalified person as defined by NI 43-101 responsible for the technicalcontent of this release, and consents to its release.
RSU Issuance
Pursuant to the Company’s shareholder approvedrestricted share unit plan (the “RSU Plan”), it has granted anaggregate of 2,375,000 restricted share units (“RSUs”) to EligibleParties of the Company.
About Recharge Resources
Recharge Resources is a Canadian mineral explorationcompany focused on exploring and developing the production ofhigh-value battery metals to create green, renewable energy to meetthe demands of the advancing electric vehicle and fuel cell vehiclemarket.
All stakeholders are encouraged to follow the Companyon its social media profiles on , , and Instagram .
On Behalf of the Board of Directors,
“David Greenway”
David Greenway, CEO.
For further information, pleasecontact:
Recharge Resources Ltd.
Joel Warawa
Phone: 778-588-5473
E-Mail: info@recharge-resources.com
Website: recharge-resources.com
Neither the Canadian Securities Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the CSE) accepts responsibility for the adequacy or accuracy ofthis release.
Disclaimer for Forward-LookingInformation
Certain statements in this releaseare forward-looking statements, which reflect the expectations ofmanagement regarding Recharge’s intention to continue to identifypotential transactions and make certain corporate changes andapplications. Forward looking statements consist of statements thatare not purely historical, including any statements regarding beliefs,plans, expectations or intentions regarding the future. Suchstatements are subject to risks and uncertainties that may causeactual results, performance or developments to differ materially fromthose contained in the statements. No assurance can be given that anyof the events anticipated by the forward-looking statements will occuror, if they do occur, what benefits Recharge will obtain from them.These forward-looking statements reflect managements’ current viewsand are based on certain expectations, estimates and assumptions whichmay prove to be incorrect. A number of risks and uncertainties couldcause actual results to differ materially from those expre ssed orimplied by the forward-looking statements, including Recharge’sresults of exploration or review of properties that Recharge doesacquire. These forward-looking statements are made as of the date ofthis news release and Recharge assumes no obligation to update theseforward-looking statements, or to update the reasons why actualresults differed from those projected in the forward-lookingstatements, except in accordance with applicable securitieslaws.
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