Proactive Investors - Run By Investors For Investors

92 Resources shares race up over 18% as its options 28 Quebec claims from Osisko Mining

The claims directly adjoin the Corvette property and make up the eastern portion of Osisko's FCI property...
92 Resources shares race up over 18% as its options 28 Quebec claims from Osisko Mining
Lithium is used in the manufacture of electric cars

92 Resources Corp (CVE:NTY) revealed its Corvette lithium project was poised to get a boost as the company is to option 28 Quebec neighbouring claims from Osisko Mining, sending shares north.

The claims directly adjoin the Corvette property and make up the eastern portion of Osisko's FCI property.

"We are very excited to arrive at this agreement with Osisko for the FCI property," said 92 Resources' president and chief executive Adrian Lamoureux.

Consolidation the trend

"We recognised early on with the discovery of the CV1 and CV2 pegmatites that it would be beneficial to consolidate the entire prospective trend.

"Today, I am very pleased to announce that we now have the ability to explore several kilometres of the prospective CV pegmatite horizon as one project.

"The company is well positioned to build upon the significant discoveries made to date and to advance the Corvette-FCI project with the most upside possible for our shareholders."

The company now controls more than 15km of prospective strike length in the  James Bay region of Quebec.

As well as the strong lithium potential, the FCI property also includes the Lac Bruno gold showing, which is defined as a gold- and sulphide-bearing amphibolite boulder with an assay of 38.1 grams per tonne (g/t) of the yellow metal.

92 Resources can earn up to 75% interest in the 28 claims by satisfying various conditions over a three year period.

Shares in 92 Resources raced up over 18% on Tuesday in Toronto to stand at C$0.065.

View full NTY profile View Profile

92 Resources Corp Timeline

Related Articles

Manganese
March 06 2019
The manganese focused company’s $5 million capital raising will close on March 22.
Lake Yindarlgooda at Riversgold’s project in the Goldfields
February 14 2019
The Eastern Goldfields is Riversgold’s focus in Western Australia while it also has ground in South Australia and Alaska.
Cobalt symbol, Co
January 09 2019
The company is looking to supply its Canadian cobalt-copper to MeiDu Energy Corp.
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use