- Northwest Territories lithium project developing promising formations
- Local government grant provides project cost options
- Quebec property’s lithium potential may also help meet tech battery needs
Canada’s secluded far north is energizing plans to provide urban societies in the earth’s more populated regions with eco-friendly travel options as automakers prepare for a new generation of technological advancements, and 92 Resources Corp. (TSX.V: NTY) (OTCQB: RGDCF) (FSE: R9G2) is exploring how to be part of the trend.
The subarctic Northwest Territories early-stage mining project is developing four promising spodumene pegmatite geologic formations (http://dtn.fm/Yi6Bs) that are expected to prove lithium-bearing, thanks to scoping test work last year that achieved overall mineral extraction of 97 percent from concentrate (http://dtn.fm/nurE8). The four formations that were sampled cross 2,080 meters and are among 60 channels sampled on the 1,849-hectare (4,569-acre) property north of Great Slave Lake’s shores. Crystals up to 36 inches long were reported.
The project, dubbed the Hidden Lake Lithium Project, benefitted from a $140,000 government grant recognizing the property’s “highly ranked” potential under the Northwest Territories Mining Incentive Program in June (http://dtn.fm/ltC7T). Although Canada’s subarctic zone is remote from most populated centers, the Hidden Lake project has the advantage of being accessible from the Northwest Territories’ capital city some 40 km (25 miles) away.
The company is also working to develop expected lithium reserves in Quebec and silica sand samplings in British Columbia. The Quebec exploration covers over 114,000 acres where 115 mineral claims are examining known large-crystal pegmatites outcroppings.
Lithium has become an in-demand mineral resource as automakers begin working in earnest toward delivering electric vehicles powered by lithium and cobalt batteries. Current lithium supplies are expected to fall short of the rising demand, making new explorations an attractive venture. In addition to automotive uses, lithium-powered energy sources are being utilized for mobile phones and home computer applications. Industrial-sized lithium battery systems are also being put to work in some power infrastructures.
“We have great exploration ahead of us at Hidden Lake. We are going to drill these things and try to build ore bodies. Hopefully it’s that easy,” Jody Dahrouge, a consultant and major shareholder in 92 Resources, said during an October 2017 interview (http://dtn.fm/44oOB). “We’ve done a bit of metallurgical work already to make sure there are no insurmountable hurdles at this early stage. Everything looks extremely positive.”
For more information, visit the company’s website at www.92Resources.com
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