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Recharge’s Airborne Mag Survey at Georgia Lake Lithium Project to Demonstrate ‘Structural Continuity’ from Neighbour Rock Tech Lithium Is Now Underway
Vancouver, BC, Nov. 07, 2022 (GLOBE NEWSWIRE) -- Recharge Resources Ltd. (“Recharge”) (RR: CSE) (RECHF: OTC) (SL50: Frankfurt) is pleased to announce that Prosp
About this update from Uranium One Mining Corp.
[{"type":"text","content":" Vancouver, BC, Nov. 07, 2022 (GLOBE NEWSWIRE) -- Recharge Resources Ltd. (“Recharge”) (RR: CSE) (RECHF: OTC) (SL50: Frankfurt) is pleased to announce that Prospectair’s helicopter has arrived for the high-resolution heliborne magnetic survey at its 100% owned Georgia Lake North and West Lithium Properties and the survey is now underway. The 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. CEO, David Greenway, stated, \"While we await completion of our production diameter well now nearing our target depth at Pocitos 1 in Argentina, we continue to progress on multiple fronts including the now permitted Brussels Creek, the spin out of Pinchi Lake to NextCharge Battery Metals Ltd. and now, our airborne magnetic survey at Georgia Lake is underway. We are thrilled the team at Prospectair were able to lock in an engagement and deploy to the property on such an immediate time frame as the weather is about to change and exploration activities are still surging due to lithium prices continuing to hit all time highs.” “The point of this airborne survey is to identify the potential for structural continuity from neighbouring Rock Tech’s active development at its Georgia Lake Project. Rock Tech signed a major lithium supply agreement with Mercedes-Benz AG and Recharge is committed to advancing and monetizing its portfolio of assets to the benefit of all stakeholders,” Greenway continued. 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. Lithium is selling in the spot market at 577,500 Yuan per tonne or the equivalent of US$80,374.66per tonne according to Trading Economics. (November 4th, 2022). The 548 line-km airborne survey includes covering neighbouring known lithium-bearing pegmatite structures, mobilization and demobilization, room and board, supply and delivery of fuel, data gatheri...