Recharge Resources has completed its acquisition of a 100% interest in the Brussels Creek Project, located in British Columbia, after previously holding a 60% stake. The acquisition included a payment of $75,000 and the issuance of 2,500,000 common shares. The Property, which covers over 1,350 hectares, is adjacent to New Gold's New Afton mine and holds significant mineralization potential, including gold and palladium values. The mineral rights are subject to a 2% net smelter royalty, with a portion available for purchase.
Recharge Resources Ltd. (SLLTF) is optimistic about its battery metals exploration initiatives for 2022. The company is focusing on lithium, nickel, copper, gold, and palladium across several projects. Ongoing efforts include a Phase 1 program for the Georgia Lake lithium properties in Ontario and the expanded Pinchi Lake nickel project in British Columbia. Notably, the Georgia Lake project complements Rock Tech Lithium's operations, which recently secured $41 million for its development.
Recharge Resources Ltd. (SLLTF) has announced the expansion of its Pinchi Lake Nickel Project in British Columbia. The project area has been increased by 568 hectares to a total of 3,922.64 hectares. This expansion includes areas with historical nickel sampling results and will be part of upcoming exploration activities planned for fall 2021. CEO Yari Nieken expressed optimism about further exploration in this area, emphasizing the company's commitment to developing battery metal projects in North America.
Recharge Resources Ltd. (SLLTF) has signed an agreement with West Mining Corp. to acquire a 75% interest in the Kagoot Brook Cobalt-Nickel project in New Brunswick, Canada. The project spans 4,233 hectares and has a history of elevated cobalt values from past surveys, with silt samples confirming up to 3,190 ppm Cobalt. The deal involves issuing 1,000,000 common shares to West Mining and a commitment of $650,000 for exploration before May 2023. This acquisition aims to enhance Recharge's portfolio in battery metals amidst the growing electric vehicle market.