CS. People make the difference, they are building businesses and they are destroying them. We came to this company long time ago for its properties and we stayed with it because of its people. We own shares and biased, we are energised and focused: for us it is a race - there are a high voltage and chemicals involved. Before you try our video game in slow motion, please, check your fitness. Do you have patience to read, question and make phone calls? Do you know what SEDAR means? You have a lot of chances and only you can pick them or walk away. Our task is to give you ideas how to make that informed decision. We are preaching here about almost Internal Goodness - nobody told us that it is the way to make money, so do not take anything as an investment advise as usual.
It was a long year for this company and it passed so fast...One year ago bottom fell out of all Junior mining sector: US Dollar, contrary to expectations, did not collapse with the financial system, but performed for the last time its "Safe Heaven" status. A lot of good people were wipe out from investment surface. Deflation spiral and Credit Crunch brought masters of the universe - hedge funds to the knees, they start to sell everything, everything with a bid on the side first and then, in December, even without any bids in sight. We still remember that feeling with TNR Gold TNR.v at 0.04 CAD and very simple binary logic: is it the End of the World or the Life Time buying opportunity. But it was people who made the difference on companies' levels: even if we traded some juniors from 90-80% discount to the summer levels with 300-500% gains majority of junior mining sector is still below summer 2008 level. Most companies decided to sit on cash, if they had some, and wait with a steady pay cheque. Not this company and today this reflection is important to share. Gary Schellenberg and his Team decided to move fast and into the new direction: Lithium and REE. It is today that almost everybody knows about it and we have announced the Second Stage of this Bull market, back in January it took courage to make a bold move into unknown. You can have fun and read this story on our blog, we are always interested in developing stories for our Research. Company share price is back to 0.3CAD now and company is raising substantial capital at this level. Within this year they hold what they had, advanced Los Azules case and managed to build a completely new business: International Lithium Corp. But excitement in the investment world is a road to the soup kitchen and who can teach us better about market valuations than Mr Market himself? He still values these two companies for the price of one. Lithium hype must has contributed to the most of value, Los Azules development brought some hesitation about potential upside and Alaska is still as a top free in a fast food place. We do not mind until shares are still available and we understand him: nice colours and proper words on the websites are not the deposits with 43-101 stamp on them. That is why today's announcement is so important for us. Strategy of staking grounds with historical results brings first positive results: we have a confirmation of Lithium mineralisation with high grade samples, significant system length and it is open in all direction at least on two properties out of three in Ontario. "Other Rare Metals (Tantalum) over limit samples are pending" - is a very inrigiung, but we will wait for the results to be announced before any conclusion. Now we have moved to the new stage of this company: they have Lithium and other Rare Earth Metals, question is the size of the potential discovery and its overall grades. Tantalum presence will make an importam economical credit adjustment to this deposit at the current level of Lithium prices.
Things to monitor:
1. Closing of financing.
2. Tantalum values from sampling.
3. Company's ability to increase the land holdings.
4. Further exploration activities on these properties and rare metals side of story.
5. Brines side of Lithium story: Mariana and Nevada properties progress.
We made some research and found that Dr Frederick Breaks used Mavis property for his PhD thesis in 80s, more then twenty years ago. With this kind of persistence can we count on another discovery this time for International Lithium corp.?"TNR Gold TNR.v attracted Dr Breaks a major expert figure in the REE market with few discoveries behind his belt, junior is apparently betting on Lithium story and moving fast putting properties and people able to develop them together.
More on Dr Breaks discoveries:
The Big Whopper, one of only four giant economic rare metal pegmatites worldwide, is set to become a producer of the highly valued lithium mineral petalite (LiAlSi4O10) used in glass, ceramics and the specialty glass-ceramics familiar as Corningware® and the new ceramic stovetops.
The Pakeagama Lake pegmatite, located 160 km north of Red Lake, is one of the largest and most highly evolved rare-element-mineralized pegmatite systems in the Superior Province of Ontario, Canada. It is a LCT pegmatite enriched in Li, Cs, Rb, Ta, Sn etc."
TNR Gold seems to be well positioned in Ontario as a whole with Ike Osmani's years spend within Ontario Government Geological Survey.
Mr. Osmani brings 26 years of Canadian and International mineral exploration experience in gold, uranium and base metals and has provided exploration consulting services for numerous resource companies. He has 17 years of experience with major and junior exploration/mining companies and as an independent Consultant and 9 years with Ontario Geological Survey (Government of Ontario)."
October 05, 2009
TNR Gold / International Lithium Receive Significant Lithium Values from Ontario Projects
Vancouver B.C.: TNR Gold Corp. ("TNR" or the "Company") and Wholly-owned International Lithium Corp. ("ILC") are pleased to announce the results received from the initial exploration programs on its Ontario based pegmatite Lithium projects.
Vancouver B.C.: TNR Gold Corp. ("TNR" or the "Company") and Wholly-owned International Lithium Corp. ("ILC") are pleased to announce the results received from the initial exploration programs on its Ontario based pegmatite Lithium projects.
Key point summary:
1. Samples at Mavis & Forgan Lake have confirmed high grade Li2O and the presence of rare metals -- grab samples up to 3.14% Li2O.
2. Other Rare Metals (Tantalum) over limit samples are pending
3. Phase 2 follow-up underway
2. Other Rare Metals (Tantalum) over limit samples are pending
3. Phase 2 follow-up underway
Table 1 : Highlighted Channel and Grab Samples:
Some of the most significant weight percentage Lithium Oxide ("wt. % Li2O") assays include:
Property Mavis Lake Pegmatite 18
Li2O (average in channel cuts) 1.24 wt.% over 5.3 metres
Li2O (wt.% range in channel cuts) 0.90 to 2.58 wt.%
Grab samples Li2O (wt. %) 3.61, 3.14, 2.56, 1.7, 1.59, 0.95, 0.36
Property Forgan Lake Pegmatite 1
Li2O (average in channel cuts) 2.57 wt.% over 4 metres
Li2O (wt.% range in channel cuts) 1.69 to 3.40 wt.% 0.84, 0.1
Some of the most significant weight percentage Lithium Oxide ("wt. % Li2O") assays include:
Property Mavis Lake Pegmatite 18
Li2O (average in channel cuts) 1.24 wt.% over 5.3 metres
Li2O (wt.% range in channel cuts) 0.90 to 2.58 wt.%
Grab samples Li2O (wt. %) 3.61, 3.14, 2.56, 1.7, 1.59, 0.95, 0.36
Property Forgan Lake Pegmatite 1
Li2O (average in channel cuts) 2.57 wt.% over 4 metres
Li2O (wt.% range in channel cuts) 1.69 to 3.40 wt.% 0.84, 0.1
The work was conducted under the direction of Dr. Frederick Breaks, who is Special Advisor to TNR, and he quotes: "This preliminary round of assays and new geological interpretation support a high mineral potential for Lithium and Tantalum mineralization on the Ontario properties. Based on these positive results, the Company has commenced Phase 2 follow-up geological and lithochemical surveys."
MAVIS LAKE PROPERTY
Mavis Lake, located 15 km northeast from Dryden Ontario, has 9 rare-metal pegmatites of similar composition to the Rare Metal Tanco mine in south-eastern Manitoba which contains Lithium and Tantalum mineralization. Pegmatite 19 contains elbaite, the rare Lithium Tourmaline and Wodginite, a Tin-Tantalum oxide mineral that is the chief ore mineral for Tantalum at the Tanco mine.
The pegmatites on the property are situated within the eastern part of the most extensive Lithium dispersion anomaly in metavolcanic host-rocks known in Ontario. This anomaly has a minimum length of 7 kilometres and breadth that ranges from 100-700 metres and is open to the east on the company's claim-block.
Albite-spodumene-type pegmatites contain the greatest concentration of Lithium of any pegmatite type as these large tabular bodies can reach up to 90 metres in thickness and 1 kilometre in strike length (Cerny 1989). Pegmatite 18 is the most significant thus far encountered on the property and the current work has defined a flat-lying, stacked pegmatite system at least 240 metres in length and open in all directions. The largest en-echelon pegmatite sheet has a minimum thickness of 2.5 metres.
Preliminary litho-geochemical work revealed significant channel sample values of 1.24 wt. % Li2O over 5.3 metres in a range of 0.90 to 2.58 wt. % Li2O from 5 channel samples. Grab samples of spodumene-rich zones contained up to 3.14 wt. % Li2O.
The Pegmatite 18 system is coincident with a significant Lithium litho-geochem dispersion anomaly that has a minimum length of 1000 metres and breadth of 30 to 275 metres as defined by previous surveys. The area is currently the focus of a detailed lithochemical survey that will reveal extent of Lithium, Rubidium and Cesium dispersion in host-rocks.
Results from preliminary sampling of metavolcanic host-rocks proximal to Pegmatite 18 indicated
anomalous Lithium values of 276 to 4400 ppm vs. an average regional background value of 16 ppm.
The pegmatites on the property are situated within the eastern part of the most extensive Lithium dispersion anomaly in metavolcanic host-rocks known in Ontario. This anomaly has a minimum length of 7 kilometres and breadth that ranges from 100-700 metres and is open to the east on the company's claim-block.
Albite-spodumene-type pegmatites contain the greatest concentration of Lithium of any pegmatite type as these large tabular bodies can reach up to 90 metres in thickness and 1 kilometre in strike length (Cerny 1989). Pegmatite 18 is the most significant thus far encountered on the property and the current work has defined a flat-lying, stacked pegmatite system at least 240 metres in length and open in all directions. The largest en-echelon pegmatite sheet has a minimum thickness of 2.5 metres.
Preliminary litho-geochemical work revealed significant channel sample values of 1.24 wt. % Li2O over 5.3 metres in a range of 0.90 to 2.58 wt. % Li2O from 5 channel samples. Grab samples of spodumene-rich zones contained up to 3.14 wt. % Li2O.
The Pegmatite 18 system is coincident with a significant Lithium litho-geochem dispersion anomaly that has a minimum length of 1000 metres and breadth of 30 to 275 metres as defined by previous surveys. The area is currently the focus of a detailed lithochemical survey that will reveal extent of Lithium, Rubidium and Cesium dispersion in host-rocks.
Results from preliminary sampling of metavolcanic host-rocks proximal to Pegmatite 18 indicated
anomalous Lithium values of 276 to 4400 ppm vs. an average regional background value of 16 ppm.
FORGAN LAKE PROPERTY
Forgan Lake, located within the Thunder Bay District of Ontario and situated in the Georgia Lake pegmatite field, also produced high Li2O values. A swarm of six pegmatite dykes of the albite-spodumene-type occur in vicinity of Lucky Lake. Only Pegmatite #1 was evaluated during the preliminary work and has a minimum strike length of 137 metres and a width of 15 to 47 metres.
Channel samples taken across an old trench revealed an average of 2.57 wt.% Li2O over 4 metres in a range of 1.69 to 3.40 wt.% Li2O. The average value is identical to that of historical work that documented 2.57 wt.% Li2O over 6.4 metres.
NIEMI LAKE PROPERTY
Niemi Lakes pegmatite system last received exploration attention in 1955 where a dyke with a minimal strike length of 125 metres averaging a width of 4.8metres was delineated and open in all directions. Niemi Lake is also located within the Thunder Bay District of Ontario.
The pegmatite has an east to west zonation from albite-type pegmatite, with low Lithium values, to albite-spodumene-type with a spodumene content of 20 to 30% estimated in the historical work. Historical assays documented 1.02 wt.% Li2O over 4.7 metres and a maximum value of 2.0 wt.% Li2O over 1.5 metres. The spodumene-rich zone was not found during the preliminary assessment due to a pervasive moss overgrowth and heavy blow-down that has obscured outcrops in the area.
The present lithochemical work revealed 12 to 95 ppm Lithium from the albite-type pegmatite zone that tends to occur in the apical parts of pegmatite systems. This zone constitutes a target for Tantalum oxide mineralization as indicated by enrichment of Tantalum relative to Niobium Elevated tantalum (>100 ppm) was registered in a petrographically similar boulder with visible Tantalum-Niobium oxide minerals.
Assays for Lithium and Rare Metals are being conducted at the Geoscience Laboratory of the Ontario Geological Survey in Sudbury which has vast experience in the analysis of these rare metals.
This news release has been prepared under the supervision of Ike Osmani, P. Geo, TNR's qualified person on this news release.
ABOUT TNR GOLD CORP. / INTERNATIONAL LITHIUM CORP.
TNR is a diversified metals exploration company focused on identifying and exploring existing properties in and new prospective projects globally. TNR has a total portfolio of 32 properties, of which 16 will be included in the proposed spin-off of International Lithium Corp.
It is anticipated that TNR shareholders of record will receive up to 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. This will result in TNR shareholders owning shares in both TNR and International Lithium. For further details of the spin-off please refer to TNR's April 27, 2009 news release or visit http://www.internationallithium.com
No comments:
Post a Comment