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A company already exploring for lithium in the Northwest Territories, 92 Resources TSXV:NTYannounced its acquisition of a Quebec prospect on July 26. The 5,536-hectare Pontax property in the James Bay region has undergone little exploration so far. Yet historic satellite imagery has shown pegmatite outcrops and indicated other potential pegmatite occurrences. 

A 1999 government mapping program identified tourmaline-bearing pegmatite outcrops on the property’s northern area, about one kilometre from a spodumene- and tourmaline-bearing pegmatite outcrop.

The company plans to review historic data prior to mapping and sampling known pegmatite occurrences.

The purchase agreement calls for three million shares and $50,000 over one year. The vendor gets a 3% NSR, of which 92 Resources may buy a third.

In June the company announced a field program at Hidden Lake, an NWT project where recent sampling assayed as high as 3.06% Li2O.

Also last month the company raised $862,820 from exercised warrants that followed an April private placement of $318,836.

Read interviews with Chris Berry and Jon Hykawy discussing energy metals.

Read more at the original source: http://resourceclips.com/2016/07/26/another-lithium-acquisition-puts-92-resources-in-quebec%E2%80%99s-james-bay-region/ 

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