Vancouver, BC, Canada – October 7th, 2021 – Recharge Resources Ltd. (RR : TSX-V) (SLLTF :OTC) (SL5 : Frankfurt) (“Recharge” or the “Company”) is pleased to announce the expansion of the Pinchi Lake Nickel Project, located approximately 15 to 30 km northwest of Fort St. James and 120 km northwest of Prince George in the Omineca Mining District of central British Columbia.
The Pinchi Lake Nickel Project area has been increased to include historical work at the recommendation of the Company’s geological team, following a review of historic workings in the surrounding area. The Pinchi Lake Nickel claims have been enlarged by 568 hectares (1,404 acres) to total size of 3,922.64
hectares (9,693.05 acres) to include areas of anomalous nickel sampling results in three separate areas,
indicated from previous sampling as described in assessment reports on the BC Government Aris website. The Company plans to conduct exploration work on these new areas during its upcoming 2021 work programs planned for this fall.
President & CEO of Recharge Resources, Yari Nieken, commented: “We have significantly expanded our geological footprint at Pinchi Lake to cover multiple historical nickel occurrences that will be further explored throughout our Phase 2 work program at the recommendation of our geological team. The Company looks forward to the results from our Phase 1 exploration program that took place recently over the summer. We will continue to develop our portfolio of battery metals projects in highly prospective and mining friendly regions of North America focusing on Nickel and Lithium.”
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 project consists of three separate claim blocks totalling 3,922.64 hectares 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. Awerite was confirmed to be a constituent of the nickel values.
The Decar nickel project geology which lies 60 km southwest is analogous suite of ultramafic intrusions 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.
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
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) 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 inability to identify transactions having satisfactory terms or at all and the 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