Vancouver, BC, Nov. 10, 2022 (GLOBE NEWSWIRE) -- Recharge Resources Ltd. (“Recharge” or the “Company”) (RR: CSE) (RECHF: OTC) (SL50: Frankfurt) issued an update today for its upcoming drill program at Brussels Creek Copper-Gold-Palladium Project in Kamloops, BC, Canada for which the Company is fully funded from its previous flow-through financing.
Recharge has ordered the go-ahead and made advances from the Company’s flow through account totalling $200,000 for the upcoming drill program. The objective of the 1,100-meter NQ drill program will be to test the potential for copper-gold mineralization similar to that present at the adjacent New Afton mine owned by New Gold Inc. NGD.V ($962 Mm Market Cap).
Further updates will be provided in short order with regards to a start date for the drill program.
Johan Shearer, QP for Recharge Resources stated, "I am excited to now have mine permits in hand for this highly-anticipated drill program and look forward to see drilling underway in short order. A comprehensive Archaeological Report is expected by November 11, 2022 and continuing discussions with the Kamloops Indian Band are anticipated. The encouraging results from the previous IP survey and the potential for continuity of structure and geological environment from neighbouring New Gold's New Afton mine could prove extremely valuable for the Brussels Creek Project and all stakeholders.”
Furthermore, drilling continues at Recharge’s production diameter well drill program at the Pocitos 1 Lithium Brine Project in Salta, Argentina down to Recharge’s production target zone depth of 400 meters.
CEO, David Greenway stated, "While drilling continues at our Pocitos 1 Project in Argentina, we couldn’t be more excited to receive the permits and now having funds advanced for the upcoming drilling at Brussels Creek. We thank Mr. Shearer and all those involved in the consultation and drill planning process. Recharge is committed to sustainable exploration and mining practices. This is a pivotal time for the Brussels Creek Project in BC, and we look forward to the upcoming drill program at the earliest contractor convenience.”
Brussels Creek Project
The BC property is an early-stage exploration property, located approximately 24 kilometres west of Kamloops, and is immediately adjacent to New Gold's New Afton mine. The property has 17 claims (66 cells) covering 1,350.43 hectares. 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 by 400 metres) with gold values up to 3.5 grams per tonne. Grab samples taken from the property in 2019 include values of 10.1 g/t Au (with 0.7 g/t palladium) and 11.5 g/t Au.
Brussels Creek Web Page: https://recharge-resources.com/projects/brussels-creek/
Qualified Person
Johan T Shearer, P. Geo., Consulting Geologist, is the qualified person as defined by NI 43-101 responsible for the technical content of this release, 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.
All stakeholders are encouraged to follow the company on its social media profiles on LinkedIn, Twitter, Facebook and Instagram.
On Behalf of the Board of Directors,
“David Greenway”
David Greenway, CEO.
For further information, please contact:
Recharge Resources Ltd.
Joel Warawa
Phone: 778-588-5473
E-Mail: info@recharge-resources.com
Website: recharge-resources.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) 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 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.
