On September 17, 1994, at 1015 central daylight time, a Cessna 172K, N79897, was substantially damaged during takeoff at Russellville, Arkansas. The private pilot and passenger received minor injuries. Visual meteorological conditions prevailed for the 14 CFR 91 flight. The following information was reported by the pilot. During the takeoff ground roll on runway 07, the pilot lost directional control of the airplane. The airplane departed the runway, the pilot reduced power, regained directional control, and aborted the takeoff. The airplane then impacted a small dirt embankment along the taxiway, the nose gear separated, and the airplane "flew" across the taxiway. The airplane came to rest in the dirt on the opposite side of the taxiway. Official wind at the airport was from 200 degrees at 12 knots. The crosswind component on runway 07 was approximately 10 knots.