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Tuesday, November 3, 2009
TNR Gold/International Lithium Confirms High Grade Lithium From Past Producer-Moose Project, NWT TNR.v, CZX.v, SQM, ROC, FMC, WLC.v, CLQ.v, LI.v, RM.v
Posted by andre at 9:18 AM
"We have always assumed that oil companies will be fighting against electric cars - what if we are wrong? What if, at least in some countries, they will take a part in the new market? Even in the Western world Oil companies are those, who are with the money and their aggressive move could bring our Bull market into the new dimension. According to our estimations electric cars with 30% in sales by 2020 will increase Demand for lithium by fivefold."
Was it the news above or not - we do not know, but the majority of the Lithium plays were moving up today on healthy volumes. Real story in market movers was again in REE. Avalon Rare metals AVL.to is on fire today with Rare Elements Resources RES.v advancing 15-20% - money is coming back into the sector after recent consolidation phase. Today's news from TNR Gold is another positive development for this global Lithium and REE play.
We own the shares of the company, biased and pleased with recent developments, but do not take anything as an investment advise here, as usual, and just enjoy the story.
According to presentation of International Lithium Moose Project is just 12 km away from now famous in Rare Earth investment world Thor Lake deposit of Avalon - with development of Avalon's property infrastructure will be there. High Grade lithium confirmation from past producer area brings TNR Gold and International Lithium portfolio to the new development stage: resource definition drilling is not so far away according to the company. Property has seen before very limited drilling and was not explored for other rare earth metals. Targets' strike and width are not limiting further interest to significant tonnage to be be discovered with Lithium mineralisation. After Ontario results and Mariana advance company has managed to put on track development of its Lithium brine and Hard Rock properties within a very short time frame. Hopefully we can expect some J/V interest coming in for further rapid development of the properties and company can move into further acquisitions using relative slowdown of consolidation phase.
November 03, 2009
TNR Gold / International Lithium Confirms High Grade Lithium from Past Producer - Moose Project, NWT
Vancouver B.C.: TNR Gold Corp. ("TNR" or the "Company") and wholly-owned International Lithium Corp. ("ILC") are pleased to confirm high grade lithium values at the Moose project, located 115 km east-southeast of Yellowknife, near the shore of Great Slave Lake in the Northwest Territories.
Vancouver B.C.: TNR Gold Corp. ("TNR" or the "Company") and wholly-owned International Lithium Corp. ("ILC") are pleased to confirm high grade lithium values at the Moose project, located 115 km east-southeast of Yellowknife, near the shore of Great Slave Lake in the Northwest Territories.
Key point summary:
• Spodumene (Li) crystals observed up to 4m length at Moose 2 pegmatite;
• 2.07 wt% Li2O over 6.7 metre composite sample at Moose 1;
• 1.96 wt% Li2O over 1.7 metre channel sample at Moose 2;
• Moose 2 pegmatite selectively mined past producer with limited drilling; and
• Follow-up program recently completed with results and 43-101 report pending.
Property Visit Observations and Results
A brief property visit was performed at the end of July 2009 to survey and sample the Moose 1 and Moose 2 pegmatite dikes in order to confirm the high grade lithium content as well as the potential for the area. The areas of sampling were concentrated where pegmatite was visibly exposed and did not require any stripping.
The Moose 2 pegmatite ranges up to 25-30m in width and strikes some 427m in length. The core of the pegmatite is commonly very coarse-grained and within the wall of the northern portion of the Moose 2, Spodumene (Li) crystals were observed up to 4m in section. Two channel samples were collected with the highest returning a grade of 1.96% Li2O over 1.7 metres.
The Moose 1 pegmatite, located 1.2 kms west of Moose 2, ranges up to 15m in width and strikes almost 300m. The Moose 1 dike trends under a swamp to the south and remains open in this direction. Two composite samples were collected at Moose 1. One returned a value of 2.07 wt% Li2O across a 6.7 metre interval and the second returned 3.77 wt% Li2O over 1 metre.
Significant potential exists for expansion since the property has seen a very limited amount of drilling and the pegmatites remain open at depth and along strike. In addition to confirming and expanding historic resources TNR aims to further explore the property for other lithium and tantalum enriched pegmatite dykes yet to be discovered.
A follow-up program was initiated in early October to better categorize and detail the exposed Moose 1 and Moose 2 pegmatites that the time constraints of the initial visit did not permit. The Company is awaiting results from the program and consequently expects to be in receipt of a completed 43-101 technical report by mid-November, 2009.
This report will be required as part of the company's planned submission to publicly list its 100-per-cent-owned subsidiary, International Lithium Corp.
The composite samples collected at Moose 1 do not constitute a continuous sample but are a series of grab samples along a measured portion of the pegmatite that is representative across the zone.
Moose Project Description
The 4,637-acre Moose project is located 115 kilometres east-southeast of Yellowknife in the Northwest Territories, on the shores of Great Slave Lake, which allows relatively easy access to the property by barge in the summer and ice roads in winter. The Moose project lies in an area known for lithium, tantalum, niobium with minor tin and beryllium mineralization associated with zoned pegmatite dykes, and was a minor producer between 1947 and 1954. For a more detailed project description, refer to the Company's press release dated April 30, 2009.
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.
About TNR Gold Corp. / International Lithium Corp.TNR is a diversified metals exploration company focused on exploring existing properties and identifying new prospective projects globally. TNR has a total portfolio of 33 properties, of which 16 will be included in the proposed spin-off of International Lithium Corp. It is anticipated that TNR shareholders of record will receive up to 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://www.internationallithium.com
The recent acquisition of lithium, rare metals and rare-earth elements projects in Argentina, Canada, USA and Ireland confirms the company's commitment to generating projects, diversifying its markets, and building shareholder value.
On behalf of the board,
Gary Schellenberg
President"
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