TNR Gold/International Lithium Confirms Continuity of High Grade Lithium and Potential of Past Producer-Moose Project, NWT
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 16, 2009) - TNR Gold Corp. ("TNR" or the "Company") (TSX VENTURE:TNR - News) and wholly-owned International Lithium Corp. ("ILC") are pleased to confirm continuity of high grade lithium values and potential of the Moose project, located 115 km east-southeast of Yellowknife, near the shore of Great Slave Lake in the Northwest Territories.
Key point summary:
- 1.50 wt% Li2O over 7.5 metre channel sample at Moose 1 pegmatite;
- 8.44 wt% Li2O grab sample from Moose 2 stockpile;
- Moose 2 pegmatite selectively mined lithium and tantalum past producer; and
- Significant under-explored potential - very limited past drilling.
Moose Project Observations and Results
A second property visit was performed in October 2009 to sample the Moose 1 and Moose 2 pegmatite dikes in order to confirm the continuity of high grade lithium across the surface exposure as well as determine the potential for the area.
The Moose 2 pegmatite was a minor lithium and tantalum producer with reported production of 119 tonnes of lithium bearing amblygonite (Groves, 1978) and an estimated 4,409 tonnes of tantalum-niobium bearing tantalite-columbite during 1953-54 (Mosher, 1969). During the October program a lithium muck pile, historically mined and stockpiled for shipping, was sampled and returned 8.44 wt% Li2O implying an almost pure amblygonite content. This remarkably high grade and differentiated product derived from the past mining activity indicates that the source pegmatite is highly evolved and underscores the future potential of the property.
The historic tantalum-niobium bearing zones at Moose 2 were not located during the two 2009 site investigations, are presumed to be undercover and will require either stripping or trenching to expose or drilling to intersect. Of note and separate to the lithium bearing zones, a number of highly anomalous rubidium oxide values were encountered grading up to 0.2wt% Rb2O.
One channel sample was collected at Moose 1, located 1.2 kms west of Moose 2, and orientated to bisect the exposed and readily sampled body of the pegmatite. The channel sample returned a value of 1.50 wt% Li2O across the full 7.5 metre interval confirming the continuity of high grade lithium across substantial widths within the pegmatite.
Significant potential exists for delineation and extension of the known pegmatites since either Moose 1 or 2 have witnessed very shallow and limited amount of drilling. The pegmatites remain open at depth and along strike. In addition to confirming and expanding historic resources TNR aims to further explore the property for other lithium and tantalum enriched pegmatite dykes yet to be discovered.
The Company expects to be in receipt of a completed 43-101 technical report by the end of November, 2009 which will provide additional details in regards to historical resources as well as past mining activities. This report will be required as part of the company's planned submission to publicly list its 100-per-cent-owned subsidiary, International Lithium Corp.
Moose Project Description
The 4,637-acre Moose project is located 115 kilometres east-southeast of Yellowknife in the Northwest Territories, on the shores of Great Slave Lake, which allows relatively easy access to the property by barge in the summer and ice roads in winter. The Moose project lies in an area known for lithium, tantalum, niobium with minor tin and beryllium mineralization associated with zoned pegmatite dykes, and was a minor producer between 1947 and 1954.
The Moose 2 dyke is a zoned pegmatite occurring as a series of exposures that ranges up to 25-30m in width and strikes some 427m in length. The core of the pegmatite is commonly very coarse-grained and within the wall of the northern portion of the Moose 2, Spodumene (Li) crystals were observed up to 4m in section. Two channel samples were collected from the previous program with the highest returning a grade of 1.96% Li2O over 1.7 metres.
The Moose 1 pegmatite, located 1.2 kms west of Moose 2, ranges up to 15m in width and strikes almost 300m. The Moose 1 dike trends under a swamp to the south and remains open in this direction. Two composite samples were collected at Moose 1 during the July program. One returned a value of 2.07 wt% Li2O across a 6.7 metre interval and the second returned 3.77 wt% Li2O over 1 metre.
For a more detailed project description, refer to the Company's press release dated November 03 and April 30, 2009. Ike Osmani, 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.
To help understand the technical aspects of Lithium and other Rare Metals please visit TNR's website at www.tnrgoldcorp.com.
About TNR Gold Corp. / International Lithium Corp.
TNR is a diversified metals exploration company focused on exploring existing properties and identifying new prospective projects globally. TNR has a total portfolio of 33 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.
The recent acquisition of lithium, rare metals and rare-earth elements projects in Argentina, Canada, USA and Ireland confirms the company's commitment to generating projects, diversifying its markets, and building shareholder value.
On behalf of the board,
Gary Schellenberg, President