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Recharge Resources Approves Spring Recon Program At Georgia Lake Lithium With Drills On Site At Brussels And Drilling Pending At The Pocitos 1 Lithium Brine Project
Vancouver, BC, March 02, 2023 (GLOBE NEWSWIRE) -- Recharge Resources Ltd. ("Recharge" or the "Company") (RR: CSE) (RECHF: OTC) (SL50: Frankfurt) has approved an
About this update from Uranium One Mining Corp.
[{"type":"text","content":" Vancouver, BC, March 02, 2023 (GLOBE NEWSWIRE) -- Recharge Resources Ltd. (\"Recharge\" or the \"Company\") (RR: CSE) (RECHF: OTC) (SL50: Frankfurt) has approved an initial recon prospecting program at its 100% owned Georgia Lake lithium project in the Thunder Bay Mining Division, Ontario, as a follow up to the previously announced heliborne magnetic survey completed in Q4 2022. Figure 1. Imagery from heliborne magnetic survey The recon program will start in early spring once weather permits. The program will be carried out over 7-10 days and will include ground truthing and prospecting of several areas that were selected from reviewing the recently acquired airborne magnetic data, as well as a till sampling program to further evaluate the properties for their lithium potential. The 800-hectare property is immediately contiguous to Rock Tech Lithium Inc’s (RCK–V) (“Rock Tech”) Georgia Lake Lithium Property and located approximately 160 km northeast of Thunder Bay, Ontario, within the Thunder Bay Mining Division. On October 20th, 2022, Mercedes-Benz (MBGn.DE) signed a supply agreement with Canadian-German Rock Tech to receive on average 10,000 tonnes of battery-grade lithium hydroxide per year. The deal, which comes shortly after the two groups said they would explore a strategic partnership, has a value over five years of 1.5 billion euros (US$1.47 billion) and will provide enough lithium hydroxide for 150,000 cars a year, the companies said. CEO, David Greenway, stated, \"We are making progress on all fronts across our portfolio of projects including drilling pending at the Pocitos 1 Lithium brine project in Argentina, drills on site at our Brussels Creek and now with an approved ground recon program for 2023 at Georgia Lake Lithium in Ontario. “We have a near full year of exploration in front of us on our portfolio of advancing assets. We are encouraged by the results of airborne geophysical data at Georgia Lake and look forward to an aggressive spring 2023 field program. Rock Tech signed a major lithium supply agreement with Mercedes-Benz AG and Recharge is committed to advancing its portfolio of assets to the benefit of all stakeholders,” Greenway concluded. Lithium is selling in the spot market at 382,500 Yuan per tonne or the equivalent of US$55,167 per tonne according to TradingEconomics.com. (February 28th, 2...