- Global demand for lithium, which is used in clean technology, is growing at 10%-plus per year
- Annual global sales of lithium-ion batteries estimated to reach $93 billion by 2025
- Exploration of Hidden Lake Project suggests discovery of massive, world-class lithium deposits
- Three new properties in Canada add significant lithium-bearing assets to portfolio
92 Resources Corp. (TSX.V: NTY) (OTCQB: RGDCF) (FSE: R9G2) is a modern energy solutions company focused on acquiring and advancing strategic and prospective energy-related projects in Canada. Its three principal assets include the Hidden Lake Lithium Property in the Northwest Territories, the Pontax Lithium Property in Quebec, and the Golden Frac Sand Property in British Columbia.
Preliminary mineralogy work on samples taken of the Hidden Lake pegmatites indicate spodumene – the world’s richest source of lithium – is of a high quality and near the maximum theoretical limit. Scoping testwork saw an overall lithium extraction of 97 percent from the concentrate produced from these pegmatites, which means standard lithium extraction techniques can be applied, making the extraction of lithium easier and more cost effective.
92 Resources is focused on developing the lithium-rich resources located within its properties through open-pit mining and relatively straight-forward mineral processing procedures. Surface exploration programs that include prospecting, mapping and sampling of known spodumene-bearing pegmatites on the Hidden Lake property suggests the existence of one massive, interconnected body of pegmatite below the surface. Recent acquisitions of prospective hard-rock lithium properties in Quebec add to the company’s impressive and growing asset portfolio.
Recent acquisitions of prospective hard-rock lithium properties in Quebec add to the company’s impressive and growing asset portfolio. The properties, known as Corvette, Eastmain and Lac Du Beryl, consist of a combined 115 mineral claims totaling approximately 14,710 acres with confirmed pegmatite outcrops visible at each location. Some sampling has been completed at the Corvette property and shows spodumene crystals present, making this location a high priority for follow up work. Analytical results are pending on samples taken from known pegmatite outcrops visible at each property.
Lithium is a strategic, green metal used in batteries, electronics, electric vehicles, ceramics, alloys, lubricants and pharmaceuticals. The world market for electric vehicles, with China as its biggest customer, is exponentially growing as the demand for clean, renewable energy sources increases. A recent report by Grand View Research, Inc. places the lithium-ion battery market worldwide at $93 billion by 2025, with a compound annual growth rate of 17%.
92 Resources is led by an experienced management team and advisors with decades of expertise in market strategies, corporate development, mineral exploration and energy development. With an excellent team of professionals and promising mining projects, the company is well positioned to capitalize on the ever-rising demand for lithium.
For more information, visit the company’s website at www.92Resources.com
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