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Recharge Resources Provides Corporate Update

Recharge Resources Provides Corporate Update

VANCOUVER, British Columbia, Feb. 01, 2022 (GLOBE NEWSWIRE) — Recharge Resources Ltd. (RR : TSX-V) (SLLTF : OTC) (SL5 : Frankfurt) (“Recharge” or the “Company”) is pleased to provide an update on its multiple battery metals projects and outlook for upcoming 2022 exploration season.

President & CEO of Recharge, Yari Nieken, commented: “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 its geological understanding and 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 an active 2022 exploration season as we continue to develop our portfolio of battery metals projects in highly prospective and mining friendly regions of North America focusing on nickel and lithium.”

Georgia Lake North & West – Lithium Properties – Ontario

The Georgia Lake North and West properties are located approximately 160 km northeast of Thunder Bay, Ontario, within the Thunder Bay Mining Division. Recharge’s property is contiguous to the North and West boundaries of Rock Tech Lithium’s Georgia Lake Lithium Property and consists of two claim blocks totaling 320 hectares and 432 hectares. A phase 1 exploration program is now being planned to test both claim blocks throughout the active 2022 season.

Neighboring Rock Tech Lithium recently announced the closing of a private placement raising approximately $41.0 million (U.S.) some of which is to be used for the development of their neighboring Georgia Lake lithium project with an objective to confirm the delineated mineral resource, forming the basis for a prefeasibility study (PFS).

The Rock Tech Lithium Georgia Lake project is host to several spodumene-bearing pegmatites. Lithium mineralization was discovered in 1955 and subsequently explored by several historic owners. Rock Tech’s property hosts an NI 43-101 Mineral Resource, as reported in Rock Tech’s Preliminary Economic Assessment filed on Rock Tech’s SEDAR profile, with an effective date of March 15, 2021. The Mineral Resource is summarized in the following table:


A Media Snippet accompanying this announcement is available by clicking on the image or link below:

Table 1: Rock Tech Lithium Georgia Lake Project

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 Assessment Report: https://aris.empr.gov.bc.ca/ArisReports/33773.PDF


A Media Snippet accompanying this announcement is available by clicking on the image or link below:

Figure 1. Murray Ridge and Pinchi Lake Nickel Projects Map

Brussels Creek – Gold-Copper-Palladium – British Columbia

Recharge announced the commencement of a phase 1 exploration program on September 6th 2021 on its Brussels Creek gold-copper-palladium property, located in the Kamloops mining district, British Columbia. The Company engaged Quantec Geoscience Ltd. to complete a Titan130 DCIP survey designed to provide high-resolution resistivity and chargeability imaging consisting of seven lines, using 400-metre spacing covering 10.9 kilometres at the property.

2021 Program Highlights

  • Completion of Quantec Titan 120 DCIP induced polarization survey totaling 10.9 line kilometers. Preliminary interpretation indicates the presence of multiple anomalies;
  • Completion of preliminary mapping and sampling program, to provide a geological baseline for further work;
  • Submission of a Notice of Work for a drilling program, comprising up to 10 diamond drill holes and up to 2000 metres;
  • Detailed interpretation of the DCIP survey underway by Campbell and Walker Geophysics.

Earlier in March of 2020, a helicopter-borne magnetometer survey was completed by Precision GeoSurveys Inc, of Langley, BC. The survey coverage totaled 402.651 line-kilometres. An interpretation report was completed in April 2020 by Kit Campbell of Campbell and Walker Geophysics Ltd, North Vancouver, BC (Campbell, 2020).

The magnetic survey has provided valuable structural and geological information. A suite of filters and derivatives have been applied to the aeromagnetic gridded data, followed by a multiscale edge detection and automated grid “fractal” analysis to identify regions prospective for gold mineralization based on structural complexity as inferred from magnetics being indicative of significant faults/shears.

The 2020 detailed survey specifically flown for this project was merged with two previous Federal Government surveys (Iron Mask and Kamloops, both now in the public domain) in order to provide better context for the Brussels Creek property to the regional geology.

Enhanced filters for geological mapping were applied to the magnetic data of the merged surveys with the results aiding in the interpretation of the magnetized lithologies, segregating anomalous zones into apparent lithological categories.

Chris M. Healey, P. Geo., Consulting Geologist, is the qualified person responsible for the technical information relating to the Brussels Creek property, and consents to its release.

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”

Yari Nieken, CEO

For further information, please contact:

Recharge Resources Ltd.
Mr. Joel Warawa
Phone: 778-588-5473
E-Mail:
info@recharge-resources.com

Website: recharge-resources.com

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.


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