Drilling Now Underway with Hole 1 Completed at Recharge's Brussels Creek Project While Drilling at Pocitos Lithium Brine Project Pending
Vancouver, BC - TheNewswire - March 23, 2023 - Recharge Resources Ltd. ("Recharge" or the "Company") (RR:CSE) (RECHF:OTC) (SL50:Frankfurt) announced today that the fully-funded, winter drill program at its 100% owned Brussels Creek Gold-Copper-Palladium Project in Kamloops, BC, Canada, is underway.
The first hole has been drilled to the target depth and completed with 52 samples, cut by hand, labelled with metal dyno labels and now delivered by hand to ALS Lab. All core was kept under lock and key until delivered to the lab. The rig will now be moved to the 2nd drill hole location.
Paradigm Drilling delivered the skid mount, Boyles 25 model drill rig to the staging area near the Brussels Creek property with drilling about to commence to complete 900 meters of NQ size core drilling in three holes. Of these 900 meters, hole collar angles will be between -50 and -90 degrees, and borehole depths will not exceed 350 meters.
The aim of the 900-meter NQ drill program is to test the potential for copper-gold mineralization similar to that present at the at the adjacent New Afton mine owned by New Gold Inc. NGD.V ($1.11 Billion Market Cap). The New Afton Mine occupies the site of the historic Afton Open Pit mine, which operated from 1977 to 1997. The present mine and concentrator facility commenced production in July 2012. The mine is a block caving operation. In 2021, the mine produced 52,542 oz Au and 61,700,000 lbs Cu.
CEO, David Greenway, summarised, "Recharge is pushing forward on all fronts with drilling now underway and hole 1 completed with mineralization reportedly being observed at the Brussels Creek Copper-Palladium-Gold Project. Drilling is pending at the Pocitos lithium brine project and a Spring recon program now approved for the Georgia Lake Lithium project.
“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, with the drill program having started.”
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/
Recharge’s management cautions that past results or discoveries on properties in proximity to Recharge may not necessarily be indicative of the presence of mineralization on the Company's properties.
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.
Pursuant to the Company’s shareholder approved restricted share unit plan (the “RSU Plan”), it has granted an aggregate of 2,375,000 restricted share units (“RSUs”) to Eligible Parties of the Company.
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, CEO.
For further information, please contact:
Recharge Resources Ltd.
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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.