Friday, April 30, 2010

TNR Gold Corp.: International Lithium Commences 2010 Exploration Program at Sarcobatus Flats, Nevada TNR.v, CZX.v, RM.v, LMR.v, WLC.v, ROC, CLQ.v,



"The world’s future energy course is being charted today because of the ramifications of peak oil and a need to reduce our carbon footprints.A whole new industry - a global wide automotive and industrial lithium-ion battery industry - is going to be built. As a result of lithium-ion battery demand for hybrid-electric and electric cars the increase in demand for lithium carbonate is expected to increase four-fold by 2017.Lithium-ion batteries have become the rechargeable battery of choice in cell phones, computers, hybrid-electric cars and electric cars. Chrysler, Dodge, Ford, GM, Mercedes-Benz, Mitsubishi, Nissan, Saturn, Tesla and Toyota have all announced plans to build lithium-ion battery powered cars.Demand for lithium powered vehicles is expected to increase fivefold by 2012. The worldwide market for lithium batteries is estimated at over $4 billion per year."




"Company update:
TNR Gold Corp. TSX: TNR
TNR Gold Corp. has entered into a letter agreement with Cricket Capital Corp. on the Company's 100% owned Forgan Lake property located 125km northeast of Thunder Bay, OntarioIn addition, the Company has commenced drilling at the Mariana Lithium brine project in Argentina, and it 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. The Company proposed to waive the production of a feasibility study and exercise its right to acquire 25% of the northern half of the properties for Minera Andes' Los Azules Project in Argentina.
TNR established June 8, 2010 as a date of the meeting date for shareholder approval of the previously announced spin-out of TNR's lithium and rare metals assets into its wholly-owned subsidiary, International Lithium Corp. TNR shareholders of record on the date of the spinout, planned for late June or early July, will receive one share and one fully tradable warrant of International Lithium Corp. for every 4 shares of TNR."


TNR Gold Corp.: International Lithium Commences 2010 Exploration Program at Sarcobatus Flats, Nevada



Press Release Source: TNR Gold Corp. On Friday April 30, 2010, 1:00 pm EDT
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 30, 2010) - TNR Gold Corp. (TSX VENTURE:TNR - News; "TNR" or the "Company") and wholly-owned International Lithium Corp. ("ILC") are pleased to announce the Company has commenced the 2010 exploration program at the Sarcobatus Flats project, Nye County, Nevada as part of the Company's plan to systematically explore and evaluate all of its' Nevada projects.
Key Highlights:
-- Commencement of gravity survey at Sarcobatus Flats project, Nevada;



-- Completion of gravity survey at Mud Lake project, Nevada;



-- Expansion of Nevada lithium brine project holdings to 5,285 hectares; and



-- Full commitment to a systematic geophysical exploration of the Company's entire Nevada holdings.

Nevada Lithium Brine Project Update
The geophysical crew has successfully completed a detailed gravity survey on the Mud Lake project and has commenced an initial phase of geophysics on the Sarcobatus Flats project in Nye County, Nevada, as part of a systematic exploration approach across the Company's entire Nevada project areas. Processing of the Mud Lake geophysical data is underway and the results will be available shortly.
The geophysical stage of exploration maps structural features in the subsurface that may form traps for brine. These features are then used to generate and prioritize drill targets.
Nevada 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 Sarcobatus Flats Project is a desert playa (dry lake bed) 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 closed structural 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.
The Fish Lake Project is located 75 kilometres southwest of Tonopah in the Fish Lake Valley, Nevada covering 1,295 hectares in Esmeralda County. International Lithium 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.
Mr. John Harrop is the Company's qualified person on the Nevada projects as required under NI 43-101 and has reviewed the technical information contained in this press release.
ABOUT INTERNATIONAL LITHIUM CORP. / TNR GOLD CORP.
International Lithium Corp, currently a wholly-owned subsidiary of TNR, is a Canada-based resource company focused on the exploration and development of new sources of lithium and rare metals. With quality projects spanning the globe from Argentina, USA, Canada, and Ireland, ILC offers investors the advantage of rapid development of lithium brine resources to production and the benefits of rare metals credits found in spodumene pegmatites. With the increased prominence of electric cars and lithium batteries, ILC expects lithium demand to rise in the near future. The Company aims to address this demand through leveraging the combined of its proven management and technical experts.
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
Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. News release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
CUSIP: #87260X 109
SEC 12g3-2(b): Exemption #82-4434
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

We have a position in this company, please, do not consider anything as an investment advise, as usual, on this blog.

Post a Comment