TNR Gold Corp has announced today very positive developments after released International Lithium Corp. spin out procedure: Mariana is under drill now and Nevada is next on exploration advance with size of the properties doubled according to the company.
Press Release Source: TNR Gold Corp. On Wednesday April 14, 2010, 9:27 am
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 14, 2010) - TNR Gold Corp. ("TNR" or the "Company") (TSX VENTURE:TNR - News) and wholly-owned International Lithium Corp. ("ILC") are pleased to announce the Company has commenced drilling at the Mariana Lithium brine project in Argentina, has increased its land position in Nevada to 5,285 hectares through staking and has commenced a geophysical program on its Mud Lake project, Nye County, Nevada.
Key Highlights:
- Initial 3 drill hole program commences at Mariana lithium brine salar, Argentina;
- Nevada lithium brine project area increases twofold through staking to 5,285 hectares;
- Detailed gravity survey commences at Mud Lake project, Nevada
- Systematic geophysical coverage of entire Nevada project area to follow.
Mariana Lithium Brine Project, Argentina
The company has embarked on an initial 3-hole exploratory drill program on its 100% owned Mariana property. The primary goal will be to geochemically characterize the subsurface brine and develop a geological model to 100 metres depth along an east west section at 2 kilometre drill spacing across three different structural regimes within the central salar area. The Company's intent is to follow-up the initial drill program with geophysics, construct a comprehensive model of the immediate area and utilize the model in preparation for a larger secondary exploration phase.
The Mariana project has the ability to rapidly advance through 2010, but will await completion of this initial phase of exploration and compilation of the results before a decision is announced.
About the Mariana Project
The Mariana project, a lithium-boron salar, consists of several contiguous mineral claims covering 120 km2 and strategically encompasses the entire salar. Salars, or salt lakes, host some of the largest known lithium and boron resources in the world. Lithium brines with economical grade can be produced directly from salars without the need for costly and time consuming process of underground or open pit mine construction.
To date TNR personnel have completed three phases of shallow subsurface brine sampling surveys across the salar on a 2 kilometre grid pattern. The majority of samples within the main 10 by 15 kilometre body of the salar returned values between 250-650 mg/L lithium. These lithium concentration levels are comparable to early stage results from producing salars in North and South America and are interpreted to be diluted from significant inflow channels collected into the shallow basin topography.
Milligrams per litre (mg/L) are approximately equal to parts per million (ppm) when the density of the brine is similar to fresh water.
Nevada Claim Expansion and Exploration, Esmeralda and Nye County
The Company has recently completed staking an additional 2,655 hectares in Esmeralda and Nye counties essentially increasing the Company's land holdings two-fold for a total of 5,285 hectares. These new claims extend the Company's Fish Lake and Mud Lake properties to 1,295 and 2,914 hectares respectively and selectively target five additional geophysical and structural features that may reflect traps for lithium bearing brines. Through the compilation of historic third party geophysical surveys in conjunction with local structural interpretation, the Company was able to selectively target staking of high priority areas within larger areas of exploration.
TNR is currently mobilizing a crew to conduct geophysical surveys across their Nevada properties in an integrated regional lithium exploration approach using geochemical and basin modeling with gravity, electromagnetic and geochemical fieldwork to identify drill targets. The TNR exploration team has extensive geochemical, GIS modeling and targeting experience across four continents with specific expertise in lithium and other rare metals. The Mud Lake project will be the initial survey of the regional programme.
Nevada Lithium Brine Projects
The Mud Lake Project is located 16 kilometres southeast of Tonopah in the Ralston Valley, Nevada covering 2,914 hectares in Nye County and is readily accessible year round. The Ralston basin, which contains Mud Lake, appears to have similar geological features that provided both a source and trap for lithium brines found in Clayton Valley which is located 47 kilometres west from the property. Chemetall-Foote Corp's Silver Peak operation, located in Clayton Valley, is the only lithium brine producer in North America and has been in operation since 1966.
The Fish Lake Project is located 75 kilometres southwest of Tonopah in the Fish Lake Valley, Nevada covering 1,295 hectares in Esmeralda County. TNR believes Fish Lake Valley has similar geological features that have acted as a trap for lithium brines in Clayton Valley 35 kilometres to the east. The United States Geological Survey (USGS) sampling at Fish Lake Valley in 1976 found lithium brines on surface. One of these samples, located on TNR claims, contained 200 parts per million (ppm) lithium. This shows that modern Fish Lake Valley has geological and climatic conditions where lithium brine can form. At Clayton Valley drilling has shown that as climatic conditions went through cycles, successive layers of lithium bearing evaporates were deposited.
The Sarcobatus Flats Project is a desert playa lake located in Nye County, western Nevada along state route 95 approximately 109 kilometres south of Tonopah and 72 kilometres southeast of Clayton Valley and consists of 105 placer claims totaling 1,076 hectares. Highly anomalous concentrations of lithium, ranging between 210 and 340ppm Li, have been encountered from a preliminary surface sediment sampling program conducted on the Sarcobatus Flats claim group. As with the Company's other Nevada projects, there are many close similarities between Sarcobatus Flats and a Clayton Valley type lithium brine deposit. The property is located in a topographically closed basin, contains similar stratigraphy and occupies a lacustrine environment with the same regional hydrogeography and geochemistry as Clayton Valley. In essence, Sarcobatus Flats represents an under-explored early stage analogue to Clayton Valley.
Mr. John Harrop is the Company's qualified person on these projects as required under NI 43-101 and has reviewed the technical information contained in this press release.
International Lithium Corp to Present at Byron Capital Market's Electrics Metal Conference 2010
ILC is pleased to announce it has been invited to present at the inaugural Byron Capital Markets Electric Metals Conference 2010. Attendees and presenters include both analysts such as Dr. Jon Hykawy who is presenting "How Electric Cars Will Save the World" as well as leading exploration and development companies from the Lithium, Vanadium, and Rare Earth Element sectors.
This conference is taking place Wednesday, April 14th, 2010 at the King Edward Hotel located on 35 King St East in Toronto, Ontario.
ABOUT INTERNATIONAL LITHIUM CORP. / TNR GOLD CORP.
International Lithium Corp, currently a wholly-owed subsidiary of TNR, is a mineral exploration company diversified geographically and by resource type. With projects spanning the globe from Argentina, USA, Canada, and Ireland, ILC will offer investors the potential upside of speedy lithium brine resource development to production and the valuation of other rare metals credits from spodumene pegmatites.
TNR is a diversified metals exploration company focused on identifying and exploring its existing properties and identifying new prospective projects globally. TNR has a total portfolio of 18 properties, of which 9 will be included in the proposed spin-off of International Lithium Corp.
The recent acquisition of lithium, rare metals and rare-earth elements projects in Argentina, Canada, USA and Ireland confirms TNR and ILC's commitments to generating projects, diversifying their markets, and building shareholder value.
On behalf of the board,
Gary Schellenberg, President"
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 14, 2010) - TNR Gold Corp. ("TNR" or the "Company") (TSX VENTURE:TNR - News) and wholly-owned International Lithium Corp. ("ILC") are pleased to announce the Company has commenced drilling at the Mariana Lithium brine project in Argentina, has increased its land position in Nevada to 5,285 hectares through staking and has commenced a geophysical program on its Mud Lake project, Nye County, Nevada.
Key Highlights:
- Initial 3 drill hole program commences at Mariana lithium brine salar, Argentina;
- Nevada lithium brine project area increases twofold through staking to 5,285 hectares;
- Detailed gravity survey commences at Mud Lake project, Nevada
- Systematic geophysical coverage of entire Nevada project area to follow.
Mariana Lithium Brine Project, Argentina
The company has embarked on an initial 3-hole exploratory drill program on its 100% owned Mariana property. The primary goal will be to geochemically characterize the subsurface brine and develop a geological model to 100 metres depth along an east west section at 2 kilometre drill spacing across three different structural regimes within the central salar area. The Company's intent is to follow-up the initial drill program with geophysics, construct a comprehensive model of the immediate area and utilize the model in preparation for a larger secondary exploration phase.
The Mariana project has the ability to rapidly advance through 2010, but will await completion of this initial phase of exploration and compilation of the results before a decision is announced.
About the Mariana Project
The Mariana project, a lithium-boron salar, consists of several contiguous mineral claims covering 120 km2 and strategically encompasses the entire salar. Salars, or salt lakes, host some of the largest known lithium and boron resources in the world. Lithium brines with economical grade can be produced directly from salars without the need for costly and time consuming process of underground or open pit mine construction.
To date TNR personnel have completed three phases of shallow subsurface brine sampling surveys across the salar on a 2 kilometre grid pattern. The majority of samples within the main 10 by 15 kilometre body of the salar returned values between 250-650 mg/L lithium. These lithium concentration levels are comparable to early stage results from producing salars in North and South America and are interpreted to be diluted from significant inflow channels collected into the shallow basin topography.
Milligrams per litre (mg/L) are approximately equal to parts per million (ppm) when the density of the brine is similar to fresh water.
Nevada Claim Expansion and Exploration, Esmeralda and Nye County
The Company has recently completed staking an additional 2,655 hectares in Esmeralda and Nye counties essentially increasing the Company's land holdings two-fold for a total of 5,285 hectares. These new claims extend the Company's Fish Lake and Mud Lake properties to 1,295 and 2,914 hectares respectively and selectively target five additional geophysical and structural features that may reflect traps for lithium bearing brines. Through the compilation of historic third party geophysical surveys in conjunction with local structural interpretation, the Company was able to selectively target staking of high priority areas within larger areas of exploration.
TNR is currently mobilizing a crew to conduct geophysical surveys across their Nevada properties in an integrated regional lithium exploration approach using geochemical and basin modeling with gravity, electromagnetic and geochemical fieldwork to identify drill targets. The TNR exploration team has extensive geochemical, GIS modeling and targeting experience across four continents with specific expertise in lithium and other rare metals. The Mud Lake project will be the initial survey of the regional programme.
Nevada Lithium Brine Projects
The Mud Lake Project is located 16 kilometres southeast of Tonopah in the Ralston Valley, Nevada covering 2,914 hectares in Nye County and is readily accessible year round. The Ralston basin, which contains Mud Lake, appears to have similar geological features that provided both a source and trap for lithium brines found in Clayton Valley which is located 47 kilometres west from the property. Chemetall-Foote Corp's Silver Peak operation, located in Clayton Valley, is the only lithium brine producer in North America and has been in operation since 1966.
The Fish Lake Project is located 75 kilometres southwest of Tonopah in the Fish Lake Valley, Nevada covering 1,295 hectares in Esmeralda County. TNR believes Fish Lake Valley has similar geological features that have acted as a trap for lithium brines in Clayton Valley 35 kilometres to the east. The United States Geological Survey (USGS) sampling at Fish Lake Valley in 1976 found lithium brines on surface. One of these samples, located on TNR claims, contained 200 parts per million (ppm) lithium. This shows that modern Fish Lake Valley has geological and climatic conditions where lithium brine can form. At Clayton Valley drilling has shown that as climatic conditions went through cycles, successive layers of lithium bearing evaporates were deposited.
The Sarcobatus Flats Project is a desert playa lake located in Nye County, western Nevada along state route 95 approximately 109 kilometres south of Tonopah and 72 kilometres southeast of Clayton Valley and consists of 105 placer claims totaling 1,076 hectares. Highly anomalous concentrations of lithium, ranging between 210 and 340ppm Li, have been encountered from a preliminary surface sediment sampling program conducted on the Sarcobatus Flats claim group. As with the Company's other Nevada projects, there are many close similarities between Sarcobatus Flats and a Clayton Valley type lithium brine deposit. The property is located in a topographically closed basin, contains similar stratigraphy and occupies a lacustrine environment with the same regional hydrogeography and geochemistry as Clayton Valley. In essence, Sarcobatus Flats represents an under-explored early stage analogue to Clayton Valley.
Mr. John Harrop is the Company's qualified person on these projects as required under NI 43-101 and has reviewed the technical information contained in this press release.
International Lithium Corp to Present at Byron Capital Market's Electrics Metal Conference 2010
ILC is pleased to announce it has been invited to present at the inaugural Byron Capital Markets Electric Metals Conference 2010. Attendees and presenters include both analysts such as Dr. Jon Hykawy who is presenting "How Electric Cars Will Save the World" as well as leading exploration and development companies from the Lithium, Vanadium, and Rare Earth Element sectors.
This conference is taking place Wednesday, April 14th, 2010 at the King Edward Hotel located on 35 King St East in Toronto, Ontario.
ABOUT INTERNATIONAL LITHIUM CORP. / TNR GOLD CORP.
International Lithium Corp, currently a wholly-owed subsidiary of TNR, is a mineral exploration company diversified geographically and by resource type. With projects spanning the globe from Argentina, USA, Canada, and Ireland, ILC will offer investors the potential upside of speedy lithium brine resource development to production and the valuation of other rare metals credits from spodumene pegmatites.
TNR is a diversified metals exploration company focused on identifying and exploring its existing properties and identifying new prospective projects globally. TNR has a total portfolio of 18 properties, of which 9 will be included in the proposed spin-off of International Lithium Corp.
The recent acquisition of lithium, rare metals and rare-earth elements projects in Argentina, Canada, USA and Ireland confirms TNR and ILC's commitments to generating projects, diversifying their markets, and building shareholder value.
On behalf of the board,
Gary Schellenberg, President"
We have a position in this company, please, do not consider anything as an investment advise, as usual, on this blog.
nice post
ReplyDeleteWe also like TNR and believe it is a sleeper in the lithium space with it's numerous properties and near term spin out of ILC on the horizon.
ReplyDeleteWe are buyers of this stock.
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