Vancouver, BC – April 4th, 2022 – Recharge Resources Ltd. (“Recharge” or the “Company”) (RR: CSE) (SLLTF: OTC) (SL5: Frankfurt) is pleased to announce that sample results from its 100% owned Pinchi Lake project have exceeded the upper limit maximum of 15% for Magnesium under its current assay protocol. Recharge has ordered a new rush assay with increased maximum thresholds for Magnesium to determine the true high grade. The Company is planning a follow-up Nickel-Magnesium exploration program at Pinchi Lake, BC to further define these discovery areas.
The Company has also instructed its geological team to begin designing a Phase 1 exploration program for its recently acquired “Beaver South” project contiguous to Inomin Mines Inc. (“MINE” – TSX.V) that announced recent critical mineral discoveries on March 29th, 2022 at their “Beaver” Nickel-Cobalt property in BC, returning 252 Metres of 20.6% Magnesium, 0.16% Nickel, And 0.33% Chromium. See press release.
Recharge Resources CEO and director, Yari Nieken, states, “The company is excited about the addition of its Beaver South Nickel-Magnesium project in BC as well as greatly encouraged by these sample results for nickel and potential for higher magnesium grades from our Pinchi Lake project. While we plan for the upcoming drill program at our Pocitos 1 Lithium salar in Argentina, we are excited to be advancing our entire portfolio of battery metal assets in one of the most promising battery metal markets in History with US President Joe Biden making battery metals a critical focus for the future recently announcing his intent to invoke the Defense Production Act to boost domestic EV, storage battery metals. The time is clearly now to be investing in the safe supply of battery metals and Recharge is pleased to be positioned to acquire, develop and capitalize to the benefit of all Recharge stakeholders.”
3 Zones of Sampling at Pinchi Lake Property
Initial Assay Results from Pinchi Lake Sampling
|*Std OREAS 601b||6||0.07||20||2|
|*Std OREAS 520||80||1.2||49||202|
|*Std OREAS 601b||8||0.12||17||2|
|*Std OREAS 520||73||1.1||32||197|
A total of 42 rock samples were collected from the Murray Ridge Property during the 2021 exploration programs. Rocks were placed in clear poly bags, labelled with sample identification and packed into rice bags. A chain of custody record was established and secured with the shipment which was taken from Smithers, BC to SGS Labs in Burnaby, BC via Bandstra Transport. No issues with sample security or integrity were noted.
In the assay lab rocks were weighed, fine crushed, screened and split. Rocks were analyzed by Multi-acid (Four acid) digestion with ICP-OES finish (SGS method ICP40Q12) for 33 elements including Ag, Al, As, Ba, Be, Bi, Ca, Cd, Co, Cr, Cu, Fe, K, La, Li, Mg, Mn, Mo, Na, Ni, P, Pb, S, Sb, Sc, Sn, Sr, Ti, V, W, Y, Zn and Zr.
Quality control procedure was implemented for sample batches involving the insertion of standards and blanks. In addition to internal laboratory standards, three (3) reference material and blanks were inserted randomly into the flow of rock sample analysis. The results of the control samples are within the accepted parameters for accuracy, precision and overall performance of the certified materials. Analytical standards used were from CDN Resource Laboratories Ltd., Langley, BC and ORE RESEARCH & EXPLORATION (OREAS), Victoria, Australia.
No internal laboratory issues occurred during the analytical procedures.
Nickel values locked within silicate minerals are not economically recoverable with presently available technology. Davis Tube analysis is a method of magnetic separation used to determine the proportion of nickel that occurs within awaruite, a natural nickel-iron alloy that is easily recoverable.
A total of thirty rock samples collected from the three claims were selected to undergo magnetic separation through Davis Tube analysis separation by SGS Laboratories in Burnaby, BC. Samples were selected based on highest nickel values reported in original ICP-AES/MS assays. A 40-gram subsample was passed through the Davis Tube and agitated for four minutes. Magnetic concentrate was then collected, filtered, dried and weighed. An approximately 10 g subsample of the Davis Tube concentrates was analyzed by XRF. In total 20 of the 30 samples reported no recovered magnetic fraction indicating low quantities of magnetic minerals in these samples. In samples with magnetically recovered fractions, nickel values of the magnetic portions range from 0.19 to 0.46 % nickel, with Davis Tube Recoverable (DTR) nickel values ranging from 0.002% to 0.021%.
Samples containing magnetically recoverable nickel collected on the Murray Ridge Property appear to demonstrate elevated DTR nickel is highest in the Pinchi Lake Nickel claim group. Of the samples submitted, nine from the Pinchi Lake Nickel group contained between 0.002-0.007% DTR nickel.
Elsewhere on the Property overall DTR nickel values are relatively low and only one single sample within Pinchi Mt. Nickel claims returned sufficient magnetic fraction for analysis. The highest value of DTR Ni was collected from Pinchi Mt. Nickel Claim which returned up to 0.021% DTR from an outcrop of fine grained, strongly magnetic, and pervasively serpentinized ultramafic. None of the samples collected from Pinchi Lake Nickel East claims contained sufficient magnetic content for DTR analysis.
James M. Hutter, P.Geo, a qualified person as defined by National Instrument 43-101, is responsible for the technical information contained in this release. Readers are cautioned that the information in this press release regarding the property of FPX Nickel Corp. is not necessarily indicative of the mineralization on the property of interest.
About Murray Ridge (Pinchi Lake)
The Murray Ridge and Pinchi Lake nickel projects are located approximately 15 to 30 kilometres northwest of Fort St. James and 120 km northwest of Prince George in central British Columbia. The project was previously explored by Nanton Nickel Corp. The projects consist of Five separate claim blocks totalling 7,093.11 hectares (17,527.46 acres) that were carefully selected to cover the best sampling results (greater than 0.20 per cent nickel in rocks) reported by Nanton Nickel Company in 2013 shortly after the discovery of the Decar nickel property owned FPX Nickel Corp. Awaruite was confirmed to be a constituent of the nickel values.
The Decar nickel project geology which lies 60 km southwest is an analogous suite of ultramafic intrusions that are hosts to widely disseminated coarse grained awaruite mineralization. Compositionally, awaruite (Ni2Fe-Ni3Fe) comprises approximately 75 per cent nickel, 25 per cent iron and 0 per cent sulphur, and therefore it is considered natural steel. Absence of sulphur allows a concentrate to be shipped directly to steel mills without incurring smelting and refining costs, and minimal environmental problems. For further details on the project refer to the company’s website or to the company’s press release dated August 3rd, 2021.
Pinchi Lake Nickel: https://recharge-resources.com/projects/murray-ridge-pinchi-lake/#Summary
About Recharge Resources
Recharge Resources is a Canadian mineral exploration company focused on exploring and developing the production of high-value battery metals to create green, renewable energy to meet the demands of the advancing electric vehicle and fuel cell vehicle market.
On Behalf of the Board of Directors,
Yari Nieken, CEO
For further information, please contact:
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding Recharge’s intention to continue to identify potential transactions and make certain corporate changes and applications. Forward looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Recharge will obtain from them. These forward-looking statements reflect managements’ current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including Recharge’s results of exploration or review of properties that Recharge does acquire. These forward-looking statements are made as of the date of this news release and Recharge assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.