Vancouver, B.C. Canada: September 7, 2021 – Recharge Resources (RR: TSX-V) (“Recharge” or the “Company”) announces it has engaged Quantec Geoscience Limited to commence Phase 1 exploration at its Brussels Creek gold-copper-palladium property, located in the Kamloops Mining District, British Columbia (the “Property”).
Based on the Phase 1 exploration objectives, Quantec has designed a TITAN130 DCIP survey designed to provide high resolution resistivity and chargeability imaging consisting of 7 lines, using 400-meter spacing covering 10.8 Kms at the Property.
About Brussels Creek project
The Property is an early-stage exploration property, located approximately 24 kilometres (km) west of Kamloops, B.C., and is immediately adjacent to New Gold’s New Afton mine. The Property comprises 17 claims (66 cells) covering 1,350.43 hectares (ha). The geological setting of the Property is very similar to New Afton, a silica-saturated copper-gold alkalic porphyry-style deposit, as well as the Highland Valley, Mount Polly, Kemess and Galore Creek deposits. Recent field observations noted the presence of a substantial mineralized quartz-feldspar porphyry body intruding the overlying Nicola Group volcanics. Historic sampling and mapping on the property, in 1983 and 1984, located a broad anomalous zone (200 metres (m) by 400 m) with gold values up to 3.5 grams per tonne (g/t). Grab samples taken from the property in 2019 include values of 10.1 g/t gold (Au) (with 0.7 g/t palladium (Pd)) and 11.5 g/t Au.
In 2020, the company from which Recharge optioned the Property, Syber, commenced exploration work on the Property and had completed an airborne magnetometer survey over the entire property, a lidar and orthophotography survey, and also one week of prospecting and mapping. Interpretation of the geophysical survey identified six areas of interest, showing potential for the structural complexities and potassic alteration that are common features of this style of porphyry copper-gold deposit.
For further details on the Property, refer to the Company’s website or to the Company’s press release dated February 25th, 2021.
Chris M. Healey, professional geoscientist, consulting geologist, is the independent Qualified Person under National Instrument 43-101 guidelines who is responsible for the technical content of this release and consents to its release.
Share Split Update
The Company provides the following update to the share split announced August 13th, 2021 whereby shareholders of the Company’s common shares held as of Sept. 15, 2021 would receive shares on a five-for-one basis subject to the approval of the TSX Venture Exchange. The TSX Venture Exchange has requested the Company cancel the record date of September 15th. Further details about the share split and record date will be announced shortly.
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 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 laws.