Wednesday, May 27, 2009

TNR Gold Acquires Lithium-Boron Brine Project in Argentina TNR.v, SQM, ABX, NG.to, MAI.to, CGH.to, DAI, NSANY, TTM, BYD, F, GM, HUI, XAU, FXI, GOOG,


TNR Gold TNR.v has connected International Lithium Corp. into a significant Lithium brine project in Argentina. Company continues to build its portfolio by extending geographical diversity, size and local conditions effecting mining economics of these properties. CEO Gary Schellenberg delivered on his promises and now this Junior has a very interesting package: properties in Canada and Ireland (upon approval of licences) are spodumene-bearing pegmatites with potential source of Lithium and such Rare Earth Elements as Tantalum and Niobium. Recently James Dines added some fire to all this Latin words proclaiming the new Bull market for Rare Earth Elements. Property Fish Lake in Nevada is a Lithium brine. Now TNR Gold is adding to its portfolio Mariana - largest property of 120 sq. km with Lithium brines to this date:
"TNR personnel recently completed a reconnaissance visit to the property in order to confirm historic data. Four of seven water samples collected in the shallow subsurface over approximately 3 km returned values from 188 to 283 mg/L lithium, and 423 to 698 mg/L boron. This confirms that there are some brines present with concentrations similar to those found at producing salares in North and South America."


"Salares host some of the largest known lithium and boron resources in the world. Lithium with economical grade can be produced directly from Salares without need for costly and time consuming process of mine construction."


In order to understand potential of this acquisition we have looked at Salar del Hombre Muerto, which is a Lithium producing Salar in the same Salta province, Argentina. General explanation of Lithium production from brines in Argrentina below confirms a statement from the company about relative simplicity compare to hard rock mining production cycle.

"Brown and white dominate this true-color image of the Salar del Hombre Muerto, in northwestern Argentina. A salar is a salt pan, created when water repeatedly evaporates from a shallow lake, leaving behind a crusty layer of salt minerals, which are brilliant white in this image.Unlike many salt pans in the region in and near the world’s driest desert, the Atacama Desert, Salar del Hombre Muerto receives enough rainfall to occasionally be covered by a thin layer of water. The water evaporates or percolates through the salt crust to form a layer of brine. The brine in Salar del Hombre Muerto is rich in lithium, an element used in a wide range of products from batteries to medication. The mine in the lower left corner of the image is extracting lithium from the brine by pumping it into solar ponds. The dry, sunny, windy environment quickly evaporates the water from the brine, leaving behind a more concentrated solution of lithium.Lithium is not the only element mined near the Salar del Hombre Muerto. West of the lithium mine shown here is an Incan gold mine, the Incahuasi, which recommenced production in January 2008.The Advanced Land Image on NASA’s EO-1 satellite captured this image on May 16, 2009."

All these sound very encouraging: step by step TNR Gold is aggressively building a critical mass of properties deserving attention of Industry Majors, will be interesting to monitor the situation of strategic partnerships built by this Junior. Among shareholders and partners they have interesting names like Barrick Gold ABX, RAB Capital, Rob McEwen's Minera Andes MAI.to, Nova Gold NG.to and Lukas Lundin's Canadian Gold Hunters CGH.to. Who will come into this Next Big Thing play next?

On Wednesday May 27, 2009, 4:54 pm EDT
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 27, 2009) - TNR Gold Corp. ("TNR" or the "Company") (TSX VENTURE:TNR - News) is pleased to announce the signing of an irrevocable offer letter to acquire a 100% interest in the Mariana property, located 120 km west of Tolar Grande, in Salta province, Argentina. The Mariana property, a lithium-boron salar, is accessible year round by paved and dirt roads. Historical sampling has reported significant lithium, boron, and potash levels in brines and sediments within the main body of the salar. Salares, or salt lakes, contain minerals dissolved in brines and some include buried layers of evaporite minerals. Salares host some of the largest known lithium and boron resources in the world. Lithium with economical grade can be produced directly from Salares without need for costly and time consuming process of mine construction.
The Mariana project consists of several contiguous mineral claims over 120 km2 covering the entire salar, which extends over 12 km north-south and 10.5 km east-west.
TNR personnel recently completed a reconnaissance visit to the property in order to confirm historic data. Four of seven water samples collected in the shallow subsurface over approximately 3 km returned values from 188 to 283 mg/L lithium, and 423 to 698 mg/L boron. This confirms that there are some brines present with concentrations similar to those found at producing salares in North and South America. Milligrams per litre (mg/L) are approximately equal to parts per million (ppm) when the density of the brine is similar to fresh water. Please refer to TNR's press release dated April 16, 2009 for information regarding TNR's Fish Lake Valley property, located northwest of Chemetall Foote's Silver Peak lithium production facility in Esmeralda county, Nevada - the only lithium brine producer in North America for over 30 years.
President of TNR Gold, Gary Schellenberg, states, "We are very encouraged by the positive press surrounding lithium and rare metals due to new sources of demand from technologies such as rapid-charging batteries and electric vehicles. The Mariana project acquisition is aligned with International Lithium's and TNR's overall philosophy of acquisition of lithium and rare metals projects of merit around the world. Our preliminary evaluation suggests the Mariana project has attractive potash and boron potential which is also characteristic of some major brine producers."
TNR has agreed to make payments totaling US$3,000,000 over a five-year period and commit to work expenditures totaling US$2,500,000 over a four-year period. After completing these payments and incurring these expenditures TNR will have a royalty-free 100% undivided interest in the property.
This agreement is subject to regulatory approval and a finder's fee is payable with regards to this transaction.John Harrop, P.Geo, is the company's qualified person on the project as required under NI 43-101 and has reviewed the technical information contained in this press release.
LITHIUM MARKET OVERVIEW
Currently, Australia, Chile, and Argentina account for more than 80% of the world lithium production. The main sources of lithium and rare earth metals are pegmatites and brines. Conventional hard-rock mining of lithium is economical thanks to other rare earth metals such as tantalum, niobium, and other rare metal content. Some of the largest lithium producers rely on evaporation from brine ponds as this is the most efficient process for concentrating lithium. TNR believes that current production levels will have to be increased in order to meet rising demand for lithium due to recent introduction of stricter standards of fuel efficiency in the USA, increasing prevalence of electric vehicles, and an overall need for more efficient alternative energy solutions.For more information about lithium - deposits, production, markets, and news please refer to TNR Gold's "About Lithium" page at: http://us.lrd.yahoo.com/_ylt=AvDA1Qw99tV883GGOQqKhuqyf88A/SIG=11ibjitd5/**http%3A//www.tnrgoldcorp.com/s/AboutLithium.asp.
ABOUT TNR.
TNR is a diversified metals exploration company focused on identifying new prospective projects globally and upon approval of pending licences in Ireland, will have a total portfolio of 31 properties, of which 15 will be subject to the proposed spin-off of International Lithium Corp.It is anticipated that TNR shareholders of record will receive one share and one full tradable warrant of International Lithium Corp. for every 4 shares of TNR held as of the yet determined record date. For further details of the spin-off please refer to TNR's April 27, 2009 news release or visit (http://us.lrd.yahoo.com/_ylt=AgRHQWPWFNt9E5sCGebZciOyf88A/SIG=11907bp0b/**http%3A//www.internationallithium.com/).
The recent acquisition of lithium projects in Argentina, Canada, USA and Ireland confirms the company's commitment to project generation, market diversity, and building shareholder value.
On behalf of the board,Gary Schellenberg, President"

Post a Comment