Tuesday, September 14, 2010

Lithium in Canada: TNR Gold: 2010 Exploration Program Commences Forgan Lake Rare Metals Project, Ontario TNR.v, CZX.v, LIT, RM.v, CLQ.v, LIT.v, WLC.v, LI.v, TSLA, NSANY, HEV, AONE, F




"As you already know, our top pick in Lithium space is TNR Gold with its coming spin out of International Lithium. You have Copper, Gold and Lithium in one portfolio of properties holding by this one company. Do your own DD particularly here - we have a position in the company - nothing should be taken as an investment advise here, we are biased, but you can still find a lot of information about the company on this blog.

The company is followed now by Jay Taylor and Richard Mills. The stock is building its upward momentum from the recent double bottom this summer, and after announced developments on its major lithium brine project in Argentina. Insiders are buying more shares and the company is raising capital for its pre IPO financing. Investors coming on board will give us another hint on the future development of this company. The most important value play will be in TNR Gold's ability to position the International Lithium portfolio of properties among strategic partners in order to rapidly advance Mariana into development stage and make a consolidation of projects in Nevada for US based Lithium development play.

Now Mariana becomes a very sizable project among other lithium brines in Argentina. Company talks about "New claim secures prospective land area for potential future processing plant facility" - management seems to be carefully considering its options before International Lithium spin out with major focus on Mariana lithium brine in Argentina. It will be very important to see investors coming on board in pre IPO financing. With recent M&A activity in the lithium space company has a very strong position to attract strategic partners from the A-list of lithium end users."








TNR Gold with International Lithium is back into the exploration season now.


 
"TNR Gold moves Forgan Lake property with its partners into further exploration stage according to its project generator model. Now Cricket Resources will spend money to advance the property further and earn into its option for part of J/V. Cricket has received financing according to its filing and we can see some results this Fall after this Summer exploration season.

More on Forgan Lake.

Latest headlines suggest that there is life in lithium sector apart from Hot Brines Hunting season by Asian conglomerates."


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








2010 Exploration Program Commences Forgan Lake Rare Metals Project, Ontario



09/14/2010 [ACCESSWIRE]

Vancouver B.C.: TNR Gold Corp. (“TNR” or the “Company”) and International Lithium Corp. (“ILC”) are pleased to announce that Cricket Resources Inc. (“CKC”), the operator of the Forgan Lake JV has commenced the initial phase of the 2010 exploration program on the Forgan Lake rare metals property (the “Property”) in northwestern Ontario.


Key Highlights:



-2010 exploration program commences on the Forgan Lake property;



-Objective is to delineate rare metals targets for future drill program;



-Emphasis on underexplored area of the property known to host pegmatites; and



-Channel sample grading 4.23% Li2O over 7.5 metres at No.1 pegmatite.


The initial six week phase of the 2010 exploration program will consist of prospecting, mapping, litho and soil geochemical sampling and select re-assaying of core previously drilled by Lun-Echo Gold Mines Limited (“Lun-Echo”) to determine, not just the lithium potential of the property which was the focus of past exploration programs, but the full-suite rare-metal potential. While the current exploration program is designed to encompass the entire property, additional emphasis will be placed on an underexplored area in the northwestern section of the property where two pegmatites were previously observed but never the subject of any discernable work.


The main objective of this exploration program is to identify and delineate rare-metal targets for a follow up drill program.


Forgan Lake Property



The Forgan Lake Property, which is comprised of one 256 hectare claim block (16 units), is located 125 km northeast of Thunder Bay, Ontario. The Property, host to six known rare-metal pegmatites, is part of the Georgia Lake Pegmatite Field (“GPF”), an area of considerable lithium and other rare-metals exploration since its discovery in the mid-1950s. Of the six previously identified pegmatites, four known as the No. 1, No. 2, No.3 and No. 4 pegmatite, were explored on surface and subsequently drilled in 1955 by Lun-Echo. Channel sample results reported by Lun-Echo include: 2.57% Li2O over 6.4 metres, 4.23% Li2O over 7.5 metres and 1.98% Li2O over 7.6 metres from the No. 1 Pegmatite. Channel samples collected during the Company’s 2009 exploration work on the property confirmed grades and widths comparable to the ones reported by Lun Echo (Company news release dated Oct. 5, 2009) and delineated several areas of interest in terms of pegmatite potential.


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.



Forgan Lake Option



Pursuant to the Forgan Lake Option, Cricket Resources Inc. can earn a 60-per-cent undivided interest in the Forgan Lake property from the Company by incurring $1 million in exploration expenditures, making cash payments to TNR/ILC of $300,000 and issuing 600,000 shares to TNR/ILC over a four year period. For further details please refer to the Companies news release on March 15, 2010.



ABOUT TNR GOLD CORP. / INTERNATIONAL LITHIUM CORP.



The Company is a diversified international metals exploration company focusing on the continued advancement of existing properties and identifying and acquiring new prospective projects. The Company has a portfolio of 18 active projects, of which 9 rare metals projects, including Mariana, will be held or optioned to the Company's wholly owned subsidiary International Lithium Corp. upon completion of a proposed plan of arrangement.



The objective of the proposed plan of arrangement is to spin out the Company's rare metals property interests into a separate public company, International Lithium Corp. This proposed plan of arrangement has been approved by the Company's shareholders and the courts of British Columbia. The Company will now proceed with the spin out and will provide updates on the progress of the spinout in further news releases. For further details of the spinout, please refer to Stockwatch news dated May 26, 2010, or visit ILC’s website.



The recent acquisition of lithium, other rare metals and rare-earth elements projects in Argentina, Canada, USA and Ireland confirms the combined companies' commitments to generating projects, diversifying its markets, and building shareholder value.



On behalf of the board,
Gary Schellenberg
President
Enhanced by Zemanta
Post a Comment