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Thursday, June 25, 2009
TNR Gold Acquires Lithium Brine Project in Nevada TNR.v, SQM, ROC, F, DAI, TTM, TM, BYD, NSANY, RIMM, GOOG, AAPL, HUI, XAU, WLC.v, RM.v, AVL.to, RES.v
Posted by andre at 9:53 AM
Billions are coming into the lithium battery making place, making it an industry standard for the next Green Mobility revolution. We are constantly searching market space for the next Silver Standard SSRI and Capstone mining CS.to. First has been buying silver properties when nobody wanted them at Silver below 7.0 USD with stock price at below 5.0 CAD. Once silver moved to 20USD/oz SSRI moved over 40USD. Second made a solid copper play CS.to and spin out Silver story to build value for shareholders. This spin out Silverstone Resources SST.to has been bought at 2.0 CAD recently by Silver Wheaton. Have we found our next junior after Tenke Mining to run the future bull? We will never know for sure until it becomes a history, so put your crash helmet on an follow our story. Never try it at home: high voltage involved and nobody knows, when this company will be bought out. Our investment candidate into the Next Big Thing has acquired another Lithium property, this time it is Lithium Brines Mud Lake in Nevada. Company is positioning itself in strategic area plays with similar geological formation with recent producing brines. Exploration risk is the name of the game here, but size of property, its location and fast move by TNR Gold show that management is betting heavily on future Bull market in Lithium and REE. Recent developments by the company of Lithium story brings interest in the market place: company has resurrected itself from below 0.05CAD level this winter. Coming in partners and further developments of the properties will be the next catalyst. Majors will be buying time and juniors in this field again if we are right on our Bull market in Lithium and REE. Mix of hard rock with REE credits properties and brines makes this company a unique exploration play, place to come to for J/V deals in the future. Its ability to pick up properties is well on the radar screen now with Los Azules Robert McEwen play in Minera Andes. So far CEO has delivered according to his outlook in recent publications. Disclosure: we are heavily investing in our considered to be next bull market: Lithium and REE, please do not take any information as an investment advise here as usual.
Press Release
Source: TNR Gold Corp.
On Thursday June 25, 2009, 10:59 am EDT
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 25, 2009) - TNR Gold Corp. ("TNR" or the "Company") (TSX VENTURE:TNR - News; PINK SHEETS:TRRXF - News) is pleased to announce the signing of a letter agreement to acquire a 100% interest in the Mud Lake property, located 16 kilometres southwest of Tonopah in the Ralston Valley, Nevada. The Mud Lake property consists of twenty placer claims covering 1300 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 Ralston basin drainage area covers 8262 square kilometres and contains centres of volcanic activity of the style that can form lithium sources for subsequent accumulation in a low point of the valley at Mud Lake. The Company intends to explore the property to determine if lithium evaporates and brine deposits have formed at depth similar to those found at Clayton Valley. In 1979, the U.S. Department of Energy through the U.S. Geological Survey ("USGS") conducted a regional lithium project which included sampling, gravity and seismic surveys on the TNR property. TNR staffs are developing an integrated regional lithium exploration approach using geochemical and basin modeling with gravity, electromagnetic and geochemical fieldwork to build drilling targets. The TNR exploration team has extensive geochemical, GIS modeling and targeting experience on four continents.
Gary Schellenberg, president of TNR Gold states, "The Mud Lake property acquisition further exemplifies our overall strategy to acquire lithium and rare metal projects of merit worldwide. TNR is now well positioned in Nevada with the Mud Lake property and its Fish Lake Valley property which is located 34 kilometres west of Chemetall-Foote Corp's Silver Peak operation in Clayton Valley."
TNR has agreed to make payments totaling US$260,000 over a four-year period, issue 1,000,000 common shares of TNR over a three-year period and commit to work expenditures totaling US$1,000,000 over a four-year period. TNR has agreed to pay a Royalty of 3% to the vendor and has the right to purchase the royalty for US$3,000,000 at anytime. TNR also has the option to reduce the Royalty by paying the vendor US$1,000,000 for each 1% (1/3) at anytime.
For more information about Lithium - deposits, production, markets and news please refer to TNR's "About Lithium" page at: http://us.lrd.yahoo.com/_ylt=AqR28k7G4KdtH_YDUJQM9N2tcq9_/SIG=11ibjitd5/**http%3A//www.tnrgoldcorp.com/s/AboutLithium.asp
Mr. John Harrop 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.
The agreement is subject to TSX Venture Exchange approval and any regulatory approvals.
ABOUT TNR
TNR is a diversified metals exploration company focused on identifying new prospective projects globally and upon approval of pending licences in Ireland, will have a total portfolio of 32 properties, of which 16 will be subject to the proposed spin-off of International Lithium Corp ("International Lithium"), TNR's wholly owned subsidiary.
It is anticipated that TNR shareholders of record will receive 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://us.lrd.yahoo.com/_ylt=As5yPdUXTIT7pBiONH4WuoWtcq9_/SIG=11907bp0b/**http%3A//www.internationallithium.com/.
The recent acquisition of lithium projects in Argentina, Canada, USA and Ireland confirms the company's commitment to project generation, market diversity, and building shareholder value.
On behalf of the board,
Gary Schellenberg, President"
Press Release
Source: TNR Gold Corp.
On Thursday June 25, 2009, 10:59 am EDT
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 25, 2009) - TNR Gold Corp. ("TNR" or the "Company") (TSX VENTURE:TNR - News; PINK SHEETS:TRRXF - News) is pleased to announce the signing of a letter agreement to acquire a 100% interest in the Mud Lake property, located 16 kilometres southwest of Tonopah in the Ralston Valley, Nevada. The Mud Lake property consists of twenty placer claims covering 1300 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 Ralston basin drainage area covers 8262 square kilometres and contains centres of volcanic activity of the style that can form lithium sources for subsequent accumulation in a low point of the valley at Mud Lake. The Company intends to explore the property to determine if lithium evaporates and brine deposits have formed at depth similar to those found at Clayton Valley. In 1979, the U.S. Department of Energy through the U.S. Geological Survey ("USGS") conducted a regional lithium project which included sampling, gravity and seismic surveys on the TNR property. TNR staffs are developing an integrated regional lithium exploration approach using geochemical and basin modeling with gravity, electromagnetic and geochemical fieldwork to build drilling targets. The TNR exploration team has extensive geochemical, GIS modeling and targeting experience on four continents.
Gary Schellenberg, president of TNR Gold states, "The Mud Lake property acquisition further exemplifies our overall strategy to acquire lithium and rare metal projects of merit worldwide. TNR is now well positioned in Nevada with the Mud Lake property and its Fish Lake Valley property which is located 34 kilometres west of Chemetall-Foote Corp's Silver Peak operation in Clayton Valley."
TNR has agreed to make payments totaling US$260,000 over a four-year period, issue 1,000,000 common shares of TNR over a three-year period and commit to work expenditures totaling US$1,000,000 over a four-year period. TNR has agreed to pay a Royalty of 3% to the vendor and has the right to purchase the royalty for US$3,000,000 at anytime. TNR also has the option to reduce the Royalty by paying the vendor US$1,000,000 for each 1% (1/3) at anytime.
For more information about Lithium - deposits, production, markets and news please refer to TNR's "About Lithium" page at: http://us.lrd.yahoo.com/_ylt=AqR28k7G4KdtH_YDUJQM9N2tcq9_/SIG=11ibjitd5/**http%3A//www.tnrgoldcorp.com/s/AboutLithium.asp
Mr. John Harrop 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.
The agreement is subject to TSX Venture Exchange approval and any regulatory approvals.
ABOUT TNR
TNR is a diversified metals exploration company focused on identifying new prospective projects globally and upon approval of pending licences in Ireland, will have a total portfolio of 32 properties, of which 16 will be subject to the proposed spin-off of International Lithium Corp ("International Lithium"), TNR's wholly owned subsidiary.
It is anticipated that TNR shareholders of record will receive 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://us.lrd.yahoo.com/_ylt=As5yPdUXTIT7pBiONH4WuoWtcq9_/SIG=11907bp0b/**http%3A//www.internationallithium.com/.
The recent acquisition of lithium projects in Argentina, Canada, USA and Ireland confirms the company's commitment to project generation, market diversity, and building shareholder value.
On behalf of the board,
Gary Schellenberg, President"
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