Vancouver, BC, Canada – March 16th, 2022 – Recharge Resources Ltd. (RR : CSE) (SLLTF : OTC) (SL5 : Frankfurt) (“Recharge” or the “Company”) is pleased to announce new nickel discoveries in the results of its 2021 exploration program returning samples as high as 2,552 ppm Ni from rock samples and 3,050 ppm Ni in soils.
The Company’s 2021 exploration program has expanded the previously underexplored Murray Ridge (Pinchi lake) Property, for nickel-iron alloy (awaruite) mineralization. Multiple elevated soil sample stations greater than 1000 ppm Ni and coupled with nearby elevated outcrop and subcrop samples in excess of 2000 ppm Ni are encouraging for further exploration targets. (See Table 1 below).
President & CEO of Recharge Resources, Yari Nieken, commented: “We are encouraged by the high-grade nickel sampling results from our 2021 exploration program and are now focused on upcoming 2022 work to follow up on these discoveries. With the recent spike in global Nickel prices, Recharge is well positioned to capitalize on this essential metal for the electric vehicle revolution.”
“We have multiple highly prospective battery metals exploration projects underway, targeting lithium, nickel, copper, gold and palladium in active mining camps. Throughout 2021, Recharge has advanced multiple projects and significantly expanded our geological understanding and footprint at Pinchi Lake to cover multiple historical Nickel occurrences that will be further explored throughout our planned Phase 2 work program at the recommendation of our geological team. The company looks forward to an active 2022 exploration season as we continue to develop our portfolio of battery metals projects in highly prospective and mining friendly regions focusing on nickel and lithium.”
Pinchi Lake – Nickel – British Columbia
Recharge announced on October 7th, 2021 that it had expanded 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 was 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 were 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 2022 work programs.
Previous exploration in the region identified numerous mercury showings associated with the regional Pinchi Fault structural zone as well as chromite-low platinum-group-element occurrences hosted within ultramafic-mafic intrusions. Previous work at Pinchi Lake was focused on nickel-iron alloy mineralization (awaruite) in tectonized and serpentinized ultramafic rocks of Cache Creek Group Trembleur Intrusions. This is the first known attempt to locate awaruite in the area. The geological and structural setting of the MR Property is analogous to the Decar Project (First Point Minerals Ltd.) located approximately 60 km to the northwest.
The Pinchi Lake property is underlain by the Lower Pennsylvanian to Middle Triassic Cache Creek complex; a mixture of calcareous and clastic sedimentary rocks intruded by the Trembleur ultramafic and Rubyrock mafic intrusions. The Triassic to Jurassic Takla Group and Tezzeron Sequence are located along fault bounded contacts with older assemblage. The youngest is tonalite of the Cretaceous Endako Batholith. Northwest striking faults and thrusts, including the known Pinchi Lake Fault system, are characteristic of the 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
Jim Hutter, P.Geo., a qualified person as defined by NI 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 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
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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 laws.