Vancouver, British Columbia–(Newsfile Corp. – March 5, 2018) – 92 Resources Corp. (TSXV: NTY) (OTCQB: RGDCF) (FSE: R9G2) (the “Company”)is pleased to provide an exploration update for it’s 100% owned Golden Frac Sand and metallurgical silica Project (the “Project” or the “Property”), located near Golden, BC, Canada. During the summer of 2017, a program of mapping and sampling of the Mount Wilson Formation (“MWF”) was completed to assess its potential for both high-purity silica and frac sand.
The program was highly successful with extensive outcrop exposures of the MWF identified and mapped, with a total of 60 samples collected and analyzed with high-purity silica confirmed. Highlights include:
22 of the 60 samples returned greater than 99% SiO2, to a peak of 99.89% SiO2
50 of the 60 samples returned greater than 98% SiO2
Low levels of iron contamination, with 55 of the 60 samples returning less than 0.1% Fe2O3
Low levels of boron contamination, with samples ranging from 3 to 13 ppm B.
Majority of the samples were collected from the easily accessible Frenchman’s Ridge deposit, where the MWF has been mapped over a strike length of approximately 1.2 km, an over 400 metre width and is interpreted to be at least 50 metres thick.
The results of the program demonstrate the Property hosts a mature quartzite characterized by high-quality and high-purity silica, which outcrops over a considerable strike lengths and thicknesses. In addition to the Property’s frac sand potential, the results indicate a considerable potential to address the high-purity silica market where silica serves, as an essential ingredient for use is polysilicon and various metallurgical applications, such as solar cells.
Given the favorable exploration results, the Company has strategically expanded its tenure holdings south of Golden. The new tenures total approximately 1,800 ha and cover nearly 6 kilometre-long, low elevation outcrops of the MWF. The tenures are immediately east and south of the Horse Creek silica lease managed by HiTest Sand Inc., which is reportedly being developed as a silica source for a future silica refinery located in Washington State.
The field program was completed in June 2017, with a total of 60 samples of quartzite collected from the MWF, where accessible. In addition, duplicate samples were collected at most locations to test the MWF for frac sand potential. The program also included re-sampling of locations previously tested in 2010 and 2014, and focused on the Frenchman’s Ridge area, located ~3 km northeast of Golden and easily accessed by two forestry roads.
Silica and frac sand samples were originally submitted to Loring Laboratories Ltd. in Calgary for whole rock, multi-element, and boron analyses. The entire silica sample batch was later re-analyzed via similar methods by Actlabs in Ancaster, Ontario. The final boron assays are expected soon. Frac sand analyses are ongoing, with (interm) results to be released in a few weeks time.
92 Resources Inc. is focused on the exploration and development of strategic metals for the burgeoning ‘new age’ energy markets. Frac sand is instrumental in oil and gas reservoir recovery optimization, while high-purity, metallurgical silica is used in the solar panel industry, which continues to grow.
The Company in early 2014 acquired a 100-per-cent interest in the initial 807.77-hectare area adjacent to the south boundary of the Mt. Moberly mine and over Frenchman’s Ridge. The property has now been expanded to over 5000 hectares to cover logistically favourable ground with quartzite-sandstone exposures.
The claims lie within three kilometres east and extend up to fifteen kilometres northeast and south of Golden, B.C., a regional transportation centre that has the Trans-Canada Highway, Highway 95 (which runs south through the US into Mexico), major rail yard facilities and related infrastructure within or near its boundaries.
The newly expanded Golden Silica Property now brackets or abuts both the operational Moberly Mine, which is owned by Calgary-based Northern Silica Corporation (formerly owned by Heemskirk Canada Ltd.) that is now producing frac sand, and the Horse Creek metallurgical silica mine being developed by Hi Test Sand. Inc..
Silicon dioxide (SiO2), also known as silica, has many applications, depending on purity. High-grade silicon metal and polysilicon are used in many high-technology applications, including microelectronics, computer chips and solar panels. The global demand and requirements for metallurgical silica and frac sand continues to grow rapidly, making the strategically positioned Golden Frac Sand Project an important corporate asset.
Leopold Lindinger, P. Geo, a qualified person in accordance with NI 43-101 and has reviewed and accepted the technical information in this news release.
On behalf of the Board of Directors,
President & CEO
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 news release.
Forward Looking Statements:
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward–looking statements”. Forward–looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward–looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward–looking statements.