(TheNewswire)
Vancouver, BC - TheNewswire - October 19,2023 - Recharge ResourcesLtd. ("Recharge" or the"Company") (RR:CSE) (RECHF:OTC) (SL50:Frankfurt) has completedan initial reconnaissance prospecting program at its 100% ownedGeorgia Lake North Lithium Project in the Thunder Bay Mining Division,Ontario. The work was completed as a follow-up to the airbornemagnetic survey completed in Q4 2022.
Thereconnaissance program was conducted in late August and September. The program consisted of ground truthing and prospecting of severalareas that were selected from reviewing the airborne magnetic data, aswell as a till sampling program to further evaluate the Project forits lithium potential. The company is currently awaiting the resultsfrom the samples collected during the visit.
Figure 1. Imagery from reconnaissance site visit August 2023 (Georgia Lake NorthProperty)
The671.5 ha Project, comprised of the Georgia Lake West and Georgia LakeNorth Properties, is contiguous to Rock Tech Lithium Inc.’s(RCK–V) (“Rock Tech”) Georgia Lake Lithium Property and locatedapproximately 160 km northeast of Thunder Bay, Ontario, within theThunder Bay Mining Division.
Figure 2. Grab sample taken from quartz vein hosted inmetasediments.
On October 20 th , 2022, Mercedes-Benz (MBGn.DE) signed a supply agreement with Canadian-German Rock Tech to receive anaverage of 10,000 tonnes of battery-grade lithium hydroxide peryear . The deal, whichcomes shortly after the two groups said they would explore a strategicpartnership, has a value over five years of 1.5 billion euros (US$1.47billion) and will provide enough lithium hydroxide for 150,000 cars ayear, the companies said.
CEO, David Greenway, stated, "We are makingprogress on all fronts across our portfolio of lithium projectsincluding drilling and a resource estimate pending at the Pocitos 1Lithium brine project in Argentina, and pending results from our firstground reconnaissance visit to the Georgia Lake lithium project,”Greenway concluded.
QualifiedPerson
Joerg Kleinboeck, P.Geo (JMK Exploration Consulting) has reviewed the technical information thatforms the basis for portions of this news release and has approved thedisclosure herein. Mr. Kleinboeck is independent of the Company andis a qualified person as defined u nder National Instrument43-101.
Georgia Lake North & West -Lithium Properties – Ontario
The Georgia Lake North and West Properties are locatedapproximately 160 km northeast of Thunder Bay, Ontario, within theThunder Bay Mining Division. Recharge’s property is contiguous tothe North and West boundaries of Rock Tech Lithium’s Georgia LakeLithium Property. The Georgia Lake West Property consists of asingle multi-cell claim that covers an area of approximately 251.9 ha,and the Georgia Lake North Property consists of a single multi-cellclaim that covers an area of approximately 419.6 ha.
Figure 3. Area Map with Project Location
The Rock Tech Lithium Georgia Lake Project is host toseveral spodumene-bearing pegmatite dykes. Lithium mineralization wasdiscovered in 1955 and subsequently explored by several historicowners. Rock Tech’s property hosts an NI 43-101 Mineral Resource, asreported in Rock Tech’s Preliminary Economic Assessment filed onRock Tech’s SEDAR profile, with an effective date of March 15, 2021.The Mineral Resource is summarized in the following table:
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.
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 expressed 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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