(TheNewswire)
Vancouver, BC, Canada – TheNewswire - March 16 th , 2022 - Recharge Resources Ltd. (CSE:RR) (CNSX:RR.CN) (OTC:SLLTF) (Frankfurt:SL5) (“Recharge”or the “Company”) is pleased to announce newnickel discoveries in the results of its 2021 exploration programreturning samples as high as 2,552 ppm Ni from rock samples and 3,050ppm Ni in soils.
The Company’s 2021 exploration program has expandedthe previously underexplored Murray Ridge (Pinchi lake) Property, fornickel-iron alloy (awaruite) mineralization. Multiple elevated soilsample stations greater than 1000 ppm Ni and coupled with nearbyelevated outcrop and subcrop samples in excess of 2000 ppm Ni areencouraging for further exploration targets. (See Table 1below).
Table 1. Statistical comparison of Nickel in rock andsoils from 2021 exploration program. Nickel in ppm.
Figure 1. Pinchi Lake Claim map – 3 areas ofinterest
President & CEO of Recharge Resources, Yari Nieken,commented: “We areencouraged by the high-grade nickel sampling results from our 2021exploration program and are now focused on upcoming 2022 work tofollow up on these discoveries. With the recent spike in global Nickelprices, Recharge is well positioned to capitalize on this essentialmetal for the electric vehicle revolution.”
“We have multiple highlyprospective battery metals exploration projects underway, targetinglithium, nickel, copper, gold and palladium in active mining camps.Throughout 2021, Recharge has advanced multiple projects andsignificantly expanded our geological understanding and footprint atPinchi Lake to cover multiple historical Nickel occurrences that willbe further explored throughout our planned Phase 2 work program at the recommendationof our geological team. The company looks forward to an active 2022exploration season as we continue to develop our portfolio of battery metals projects inhighly prospective and mining friendly regions focusing on nickel andlithium.”
Figure 2. Heli-borne Aeromagnetic Survey Results fromPinchi Lake East and Mt. Nickel Claims
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Pinchi Lake – Nickel – BritishColumbia
Recharge announced on October 7 th , 2021 that ithad expanded the Pinchi Lake Nickel project,l ocated approximately 15 to 30 km northwest ofFort St. James and 120 km northwest of Prince George in the OminecaMining District of Central British Columbia .
The Pinchi Lake Nickel project area was increased toinclude historical work at the recommendation ofthe Company’s geological team, following a review of historicworkings in the surrounding area. The Pinchi Lake Nickel claims wereenlarged by 568 hectares (1,404 acres) to total size of 3,922.64hectares (9,693.05 acres) to include areas of anomalous nickelsampling results in three separate areas, indicated from previoussampling as described in assessment reports on the BCGovernment Aris website. The Company plans to conduct explorationwork on these new areas during its upcoming 2022 work programs.
Previous exploration in the region identified numerousmercury showings associated with the regional Pinchi Fault structuralzone as well as chromite-low platinum-group-element occurrences hostedwithin ultramafic-mafic intrusions. Previous work at Pinchi Lake wasfocused on nickel-iron alloy mineralization (awaruite) in tectonizedand serpentinized ultramafic rocks of Cache Creek Group TrembleurIntrusions. This is the first known attempt to locate awaruite in thearea. The geological and structural setting of the MR Property isanalogous to the Decar Project (First Point Minerals Ltd.) locatedapproximately 60 km to the northwest.
The Pinchi Lake property is underlain by the LowerPennsylvanian to Middle Triassic Cache Creek complex; a mixture ofcalcareous and clastic sedimentary rocks intruded by the Trembleurultramafic and Rubyrock mafic intrusions. The Triassic to JurassicTakla Group and Tezzeron Sequence are located along fault boundedcontacts with older assemblage. The youngest is tonalite of theCretaceous Endako Batholith. Northwest striking faults and thrusts,including the known Pinchi Lake Fault system, are characteristic ofthe strong, structural trend throughout the region.
Pinchi Lake Nickel : https://recharge-resources.com/projects/murray-ridge-pinchi-lake/#Summary
Pinchi Lake Nickel Assessment Report: https://aris.empr.gov.bc.ca/ArisReports/33773.PDF
Figure 3.
Nanton Nickel, 2013 rock samplelocation and results from AR 34686
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Qualified Person
Jim Hutter, P.Geo., a qualified person as defined by NI43 – 101, is responsible for the technical information contained inthis release. Readers are cautioned that the information in this pressrelease regarding the property of FPX Nickel Corp is not necessarilyindicative of the mineralization on the property of interest.
About Murray Ridge (PinchiLake)
The Murray Ridge and Pinchi Lake nickel projects arelocated approximately 15 to 30 kilometres northwest of Fort St. Jamesand 120 km northwest of Prince George in central British Columbia. Theproject was previously explored by Nanton Nickel Corp. The projectconsists of three separate claim blocks totalling 3,922.64 hectaresthat were carefully selected to cover the best sampling results(greater than 0.20 per cent nickel in rocks) reported by Nanton NickelCompany in 2013 shortly after the discovery of the Decar nickelproperty owned FPX Nickel Corp. Awerite was confirmed to be aconstituent of the nickel values.
The Decar nickel project geology which lies 60 kmsouthwest is analogous suite of ultramafic intrusions are hosts towidely disseminated coarse grained awaruite mineralization.Compositionally, awaruite (Ni2Fe-Ni3Fe) comprises approximately 75 percent nickel, 25 per cent iron and 0 per cent sulphur, and therefore itis considered natural steel. Absence of sulphur allows a concentrateto be shipped directly to steel mills without incurring smelting andrefining costs, and minimal environmental problems. For further details on the project refer to the company’swebsite or to the company’s press release dated August 3 rd , 2021.
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.
On Behalf of the Board of Directors,
“Yari Nieken”
Yari Nieken, CEO
For further information, pleasecontact:
Recharge Resources Ltd.
Mr. Joel Warawa
Phone: 778-588-5473
E-Mail: info@recharge-resources.com
Website: recharge-resources.com
Disclaimer for Forward-LookingInformation
Certain statements in this release are forward-lookingstatements, which reflect the expectations of management regardingRecharge’s intention to continue to identify potential transactionsand make certain corporate changes and applications. Forward lookingstatements consist of statements that are not purely historical,including any statements regarding beliefs, plans, expectations orintentions regarding the future. Such statements are subject to risksand uncertainties that may cause actual results, performance ordevelopments to differ materially from those contained in thestatements. No assurance can be given that any of the eventsanticipated by the forward-looking statements will occur or, if theydo occur, what benefits Recharge will obtain from them. Theseforward-looking statements reflect managements’ current views andare based on certain expectations, estimates and assumptions which mayprove to be incorrect. A number of risks and uncertainties could causeactual results to differ materially from those expressed or implied bythe forward-looking statements, including Recharge’s inability toidentify transactions having satisfactory terms or at all and theresults 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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