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92 Resources Corp

92 Resources expands option agreement with Osisko to include further 83 claims

FCI West, FCI East, and Corvette are collectively referred to as the "Corvette-FCI property"

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The claims are in the Lac Guyer Greenstone Belt within the James Bay region of Quebec

92 Resources Corp (CVE:NTY) told investors it had expanded its 2018 option agreement with Osisko Mining Inc to include an additional 83 claims in Quebec.

It means the Vancouver-based resource group now holds the option to acquire up to a 75% interest over Osisko's entire FCI property, which includes the new 83 claims called FCI West and the 28 claims of FCI East.

FCI West, FCI East, and Corvette are collectively referred to as the "Corvette-FCI property", which extend for more than 25km along the Lac Guyer Greenstone Belt within the James Bay region.

READ: 92 Resources says FCI property in Quebec will be an exploration focus in 2019

"We are thrilled to have expanded our land position in the region, increasing our footprint. With the recent high-grade Cu-Au-Mo discoveries in the area by Midland Exploration and the established Au-Cu potential at FCI West, we see significant opportunity to advance several exceptional gold and polymetallic prospects over a strike length of more than a 10 km within the Lac Guyer Greenstone Belt," said the firm's president and  CEO Adrian Lamoureux.

The FCI West block lies around 10 km south of the all-season Trans-Taiga road and powerline, while the FCI West block is adjacent to the south of Midland Exploration's (CVE:MD) Mythril property and immediately east of Azimut Exploration's (CVE:AZM) Pikwa property.

FCI West hosts the Golden Gap prospect, which is the most advanced target on the property and includes a drill intercept of 10.5 g/t (grams per ton) gold over 7 meters (m) as well as 14.5 g/t over 2 m in channel sampling, said 92  Resources.

The block is also host to numerous high-grade surface occurrences including a grab sample of 108.9 g/t (grams per ton) gold in outcrop.

The firm intends to complete initial exploration this summer at FCI West and is in the process of receiving the historical dataset from Osisko.

Exploration is anticipated to be completed as part of the programs planned at FCI East and Corvette during the summer months. Although there is demonstrated gold and copper potential at FCI West, the lithium potential has never been assessed

Contact Giles at [email protected]

Follow him on Twitter @Gile74

Quick facts: 92 Resources Corp

Price: $0.04

Market: TSX-V
Market Cap: $3.51 m
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