Wednesday, January 19, 2011

TNR Gold: Forgan lake program confirms historical Lithium / Rare Metals results and identifies new targets tnr.v, rm.v, lmr.v, lit,, sqm, fmc, li.v, wlc.v,,, lth,, res.v, quc.v, hev, tsla, vlnc,

The Forgan Lake Project is composed 16 contiguous claim units located east of Forgan Lake within the Thunder Bay District of Ontario. It includes four previously drilled spodumene-bearing pegmatites. The pegmatites are part of the Georgia Lake pegmatite field, an area of considerable lithium and rare-earth element (REE) exploration since it's discovery in the mid-1950's.

The Forgan Lake pegmatites were discovered during a lithium staking rush active within the Georgia Lake pegmatite field in the mid-1950's. Six pegmatites were identified, four of which, the No.1, No. 2, No. 3 and No. 4 Deposits, are within TNR Gold Corp claim block. In 1955, Lun-Echo Gold Mines Limited carried out a 39-hole diamond drill program in the area of which 33 lie within the TNR Forgan Lake Property. Pegmatite is a coarse-grained igneous rock that typically hosts economic presence of lithium amongst valuable rare earth elements such as topaz, beryllium, potassium, uranium, and more.

The No. 1 Deposit has been traced on surface for about 274.3 m at an average width of 9.1 m. It contains 30% medium to coarse-grained spodumene and sporadic black columbite ((Fe, Mn)2(Nb,Ta)2O6) crystals up to 3.8 cm long. Channel samples to note include: three samples averaging 2.57% Li2O over a width of 6.4m; two samples, 24.4 m southwest of the first three, averaged 4.23% Li2O over 7.5 m; and two samples 68.6 m farther southwest averaging 1.98% Li2O over 7.6 m.

Similar in composition to the No.1 is the No. 2 Deposit. This pegmatite has been traced in outcrop for 45.7 m with an exposed width of 13.7 m.
Northwest of the No. 1 Deposit is the No. 3 Deposit. The No. 3 has been traced from Lucky Lake, a small body of water in the northeastern corner of the property, southwest for 320.0 m with an averaged exposed width of 6.1 m. The pegmatite contains approximately 25% spodumene. Lun-Echo bored 10 diamond drill holes, totaling 832.1 m, at intervals of 30.5 to 61.0 m. The best intersection contained a 1.52 m section averaging 1.78% Li2O.

The No. 4 Deposit has been traced on surface for approximately 243.8 m with an average surface width of 4.6 m. The pegmatite contains 10-15% fine to medium-grained spodumene.

In addition to historic drill confirmations, all identified pegmatites have not been delineated at Forgan Lake and thus the full extents of the deposits remain open.

Furthermore, the potential for other REE anomalies remains promising, as historic work by Lun-Echo Gold Mines Ltd analyzed drill core exclusively for Li2O. Columbite noted in at least two of the four pegmatites on the Forgan Lake property is further indication that an assessment of REE occurrences could significantly increase the value of the Forgan Lake Property.

TNR Gold Corp staked the acquired the Forgan Lake Property with the intent to further define the known lithium deposits, explore for additional lithium-bearing pegmatites and potential add further value to the property through additional REE potentials. The company believes with the increasing prominence of lithium, TNR will be strategically positioned to maximize shareholder value and be at the forefront on the search for a green energy alternative.

More on Forgan Lake Lithium and Rare Metals project.

01/19/2011 [ACCESSWIRE]

Vancouver B.C.: TNR Gold Corp. ("TNR") and wholly-owned International Lithium Corp. ("ILC") (jointly the "Company") are pleased to announce that Cricket Resources Inc. ("Cricket") has received final results of the 2010 exploration program on the Forgan Lake rare metals property in Northwestern Ontario. Cricket is the operator of the Forgan Lake joint venture on which it has an option to acquire an undivided 60-per-cent interest in the property from TNR Gold Corp. An exploration program implementing phase I recommendations of the 2010 Forgan Lake property NI 43-101 technical report was conducted during September, 2010. President of TNR, Gary Schellenberg adds, "We are encouraged by the confirmation of the historical results and the successful delineation of priority lithium and rare metals' drill targets at a time when these commodities are at a heightened demand. In addition, the 2010 field program revealed markedly anomalous results in areas not associated with any previously identified pegmatites adding to the prospectivity of the project. True to the TNR business model we have continued to create value through identification of projects and bringing in capable joint venture partners to develop them."

Key Highlights:

-106 channel and grab samples collected from pegmatites;
-Significant values were found in five of the six known pegmatite bodies;
-754 soil samples collected on 23.3 kilometres of grid;
-Anomalous patterns of beryllium, cesium, lithium, tantalum and tin were identified in soils;
-Some of the soil anomalies appear to derive from previously unknown targets.

Analytical results of rock samples were considered significant when Li2O was greater than 0.5 per cent, Ta2O5 was greater than 100 parts per million or Rb2O was greater than 500 parts per million. Values lower than these may be geochemically anomalous. The attached table lists significant composite channel samples (62 channel samples were collected from pegmatites 1, 3, 5 and 6).

|Samples |Width (m)|Li2O (wt%)|Ta2O5 (ppm)|Rb2O (ppm)|Region |
|E462563, 64|2 |0.01 |11.7 |995.2 |Pegmatite 5|
|-------------------------------------------------------------------| |-------------------------------------------------------------------|
|E462590 to |3.8 |0.81 |40.2 |743.1 |Pegmatite 1| |93 | | | | | | |E462594 to |2.8 |0.92 |311.9 |852.6 |Pegmatite 1|
|00 | | | | | |
|97 | | | | | | |-------------------------------------------------------------------| |E462598 to |3.3 |1.36 |50 |615.1 |Pegmatite 1| |-------------------------------------------------------------------|
|08 | | | | | |
|E462601 to |1.7 |1.01 |65.6 |524.9 |Pegmatite 1| |03 | | | | | | |-------------------------------------------------------------------| |E462605 to |3.6 |1.27 |61.2 |669.3 |Pegmatite 1| |-------------------------------------------------------------------|
|E462616 to |3.25 |1.39 |57.6 |644.6 |Pegmatite 3|
|E462609 to |2.2 |1.54 |59.6 |583 |Pegmatite 1| |11 | | | | | | |-------------------------------------------------------------------| |E462613, 14|2.3 |1.46 |87.5 |1252.2 |Pegmatite 1| |-------------------------------------------------------------------| |18 | | | | | |
|Sample No.|Li2O (wt%)|Ta2O5 (ppm)|Rb2O (ppm)|Region |
| | | | | |
|--------------------------------------------------------| |--------------------------------------------------------|
|E462518 |0.01 |0.45 |1241.87 |Pegmatite 6|
|E462509 |0 |110.5 |262.66 |Pegmatite 5| |--------------------------------------------------------| |--------------------------------------------------------|
|E462524 |0.01 |167.89 |505.54 |Pegmatite 5| |--------------------------------------------------------| |E462526 |0 |136.14 |11.32 |Pegmatite 5| |E462540 |0.95 |24.54 |429.71 |Pegmatite 1|
|--------------------------------------------------------| |E462541 |1.49 |15.93 |343.99 |Pegmatite 1| |--------------------------------------------------------| |E462548 |2.05 |31.5 |284.64 |Pegmatite 1| |E462549 |0.91 |32.97 |438.5 |Pegmatite 1|
|--------------------------------------------------------| |E462624 |0.31 |15.02 |1307.81 |Pegmatite 4| |--------------------------------------------------------| |E462625 |1.64 |14.96 |397.84 |Pegmatite 4|


The Forgan Lake property, which comprised one 256-hectare claim block (16 units), is located 125 kilometres northeast of Thunder Bay, Ont. 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 pegmatites, were explored on surface and subsequently drilled in 1955 by Lun-Echo. Channel sample results reported by Lun-Echo include 2.57 per cent Li2O over 6.4 metres, 4.23 per cent Li2O over 7.5 metres and 1.98 per cent Li2O over 7.6 metres from the No. 1 pegmatite. Channel samples collected during the TNR's 2009 exploration work on the property confirmed grades and widths comparable with the ones reported by Lun Echo (see TNR's news release in Stockwatch dated Oct. 5, 2009) and delineated several areas of interest in terms of pegmatite potential.
John Harrop, PGeo, FGS, is TNR's qualified person on the project as required under NI 43-101 and has reviewed the technical information contained in this news release.
THE FORGAN LAKE OPTION Pursuant to the Forgan Lake option, Cricket can earn a 60-per-cent undivided interest in the Forgan Lake property from TNR by incurring $1-million in exploration expenditures, making cash payments to TNR of $300,000 and issuing 600,000 shares to TNR over a four-year period. For further details please refer to the company's news release in Stockwatch on March 15, 2010.

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 International Lithium'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

 Related articles
Enhanced by Zemanta
Post a Comment