Recharge Resources Ltd. has engaged Joerg Kleinboeck, P.Geo (JMK Exploration Consulting) for data compilation and the organization of an airborne magnetic survey for the company’s Phase 1 Exploration Program at its 100% owned Georgia Lake North and West Lithium Properties which are contiguous to Rock Tech Lithium Inc’s (RCK – CSE)(“Rock Tech”) Georgia Lake Lithium Properties, approximately 160 km northeast of Thunder Bay, Ontario, within the Thunder Bay Mining Division.
On October 20th, 2022, Rock Tech and Mercedes-Benz AG finalized a supply agreement to supply 10,000 tonnes of lithium. The deal, which comes shortly after the two groups said they would explore a strategic partnership, has a volume of 1.5 billion euros ($1.47 billion) and will cover enough lithium hydroxide for 150,000 cars a year, the companies said.
Lithium is selling in the spot market at 542,500 Yuan per tonne or the equivalent of US$74,891 per tonne according to Trading Economics (October 21st, 2022).
CEO David Greenway states, “While we continue to advance our two fully-funded drill programs at Brussels Creek and with Pocitos 1 Lithium drilling underway, we are progressing now with JMK Exploration Consulting to explore our Georgia Lake Project. Recharge Resources will plan an air mag survey of the Georgia Lake projects with a goal of identifying the potential for continuity of structure from Rock Tech’s active development at Georgia Lake Project.”
About JMK Exploration
Joerg Kleinboeck P.Geo., owner of JMK Exploration Consulting, is a professional geoscientist with over 20 years of experience in mineral exploration where he has managed early through to advanced staged projects in Canada and the United States. Kleinboeck holds a Bachelor of Science in Geology from Laurentian University and is a member of the Professional Geoscientists Ontario (PGO). He has held senior positions for several junior mining companies, and since 2014, he has been the project manager for Canadian Continental Exploration Corp. until its successful acquisition by Conquest where he currently serves as Vice President, Exploration. Kleinboeck has been active in the Temagami Mining Camp since 2000 where he has helped to advance projects such as New Age Metal Corp’s nearby River Valley PGM Project and discovered the Lismer’s Ridge Extension Deposit through prospecting followed by diamond drilling (14 mT PGE-Cu-Ni).
Georgia Lake North & West – Lithium Properties – Ontario
The Georgia Lake North and West properties are located approximately 160 km northeast of Thunder Bay, Ontario, within the Thunder Bay Mining Division. Recharge’s property is contiguous to the North and West boundaries of Rock Tech Lithium’s Georgia Lake Lithium Property and consists of two claim blocks totaling 320 hectares and 432 hectares.
The Rock Tech Lithium Georgia Lake project is host to several spodumene-bearing pegmatites. Lithium mineralization was discovered in 1955 and subsequently explored by several historic owners. Rock Tech’s property hosts an NI 43-101 Mineral Resource, as reported in Rock Tech’s Preliminary Economic Assessment filed on Rock Tech’s SEDAR profile, with an effective date of March 15, 2021. The Mineral Resource is summarized in the following table:
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.
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.
On Behalf of the Board of Directors,
David Greenway, CEO