Rock Edge Resources Ltd. (the "Company" or "Rock Edge") (CSE: REDG) is pleased to announce the Company has increased its land claim holdings in the Pag North Lithium Project located east of LongLac, northwestern Ontario. With the recent addition of approximately 2,413 hectares, Rock Edge now holds 6,345 hectares in the Pag North Lithium Project.
Vancouver, British Columbia, April 17, 2023: Rock Edge Resources Ltd. (the "Company" or "Rock Edge") (CSE: REDG) is pleased to announce the Company has increased its land claim holdings in the Pag North Lithium Project located east of LongLac, northwestern Ontario. With the recent addition of approximately 2,413 hectares, Rock Edge now holds 6,345 hectares in the Pag North Lithium Project. For additional information on the initial acquisition, please refer to the Company’s news release dated February 7, 2023.
Charles Desjardins, CEO of Rock Edge, states, "The Georgia Lake Pegmatite field is a promising source of high-grade lithium in North America, critical for the transition to a low-carbon future. Rock Edge has continued to add to its Georgia Lake Lithium Pegmatite land position, highlighting the importance of sustainable energy solutions for electric vehicles and energy storage. With their expertise, Rock Edge aims to unlock the project's full potential and contribute to meeting the growing demand for these crucial technologies.”
Pag North Lithium Property
The Pag North Lithium Project consists of 9 mining claims. The property lies within 500 m of the terrane boundary between the East Wabigoon and Quetico subprovinces. These terrane boundaries are integrally related to the location of northwestern Ontario lithium deposits and occurrences, as they act as deep-seated sutures for parental granitic melts (Breaks et al., 20031) (Figure 1). The property hosts a S-type peraluminous muscovite granite (Pagwachaun pluton) in contact with metasediments. Metasediments make excellent exo-contact hosts for rare-element pegmatites. Several muscovite bearing pegmatites were mapped by the OGS in Map 26492 in 1983, hosted within the Pagwachaun pluton and within the metasediments. This is a promising sign that the S-type peraluminous granite has fractionated and deposited pegmatites within the exo-contact. Further to add to the merit of the property is the Pagwachaun fault along the north shore of the Pagwachaun Lake, providing structure and fracture systems for parental melts.
Rock Edge signed the second Pag North Lithium option agreement to acquire a 100% undivided interest in the property from two third parties, Gravel Ridge Resources Ltd. and 1544230 Ontario Inc. (the “Optionors”). Pursuant to the agreement, the payment of $10,000 and the issuance of 400,000 common shares of the Company will be made 50% to Gravel Ridge and 50% to 1544239 Ontario Inc. in accordance with the following schedule:
The Optionors will retain a 1.5% net smelter royalty ("NSR") on the property, of which Rock Edge can purchase 0.5% of the NSR for $600,000.
1. Breaks, F.W., Selway, J.B. and Tindle, A.G. 2003. Fertile peraluminous granites and related rare-element mineralization in pegmatites, Superior Province, northwest and northeast Ontario: Operation Treasure Hunt; Ontario Geological Survey, Open File Report 6099, 179p.
2. Amuken, S.E., 1983. Klob Lake: Ontario Geological Survey Map 2469, Precambrian Geology Series, scale 1 inch to ½ mile, Geology 1979.
The technical content of this news release has been reviewed and approved by Mike Kilbourne, P. Geo., who is an independent Qualified Person (QP) as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects
Rock Edge further announces it has arranged a non-brokered private placement of up to 5.0 million units ("Units") at a price of $0.07 per Unit for aggregate gross proceeds of up to $350,000.00 (the "Offering"). Each Unit will be comprised of one common share ("Share") and one transferable share purchase warrant ("Warrant") of the Company. Each Warrant will entitle the holder to purchase one Share of the Company at a price of $0.12 per Share for a period of 24 months from the date of issuance. Proceeds raised from the Offering will be used for exploration activities on the Company’s lithium properties in Ontario and Quebec for general working capital and unallocated funds as per Tier 2 status requirements.
About Rock Edge Resources Ltd.
Rock Edge Resources Ltd. is focused on acquiring and exploring mineral property assets, with a specific emphasis on the Northwestern Ontario Lithium belt and the province of Quebec. Its objective is to locate, develop and bring to market economically viable properties that contain critical minerals, base metals and precious metals. With the support of the Ontario government's Critical Minerals Strategy, Rock Edge is poised to take advantage of the growing demand for these essential minerals and contribute to the region's economic growth.
*DISCLAIMER: Rock Edge Resources Ltd is a paid marketing client
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