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Friday, January 15, 2010
TNR Gold/International Lithium Option Fairservice Mining Leases Adjacent to Mavis Lake Project, Ont TNR.v, CZX.v, NG.to, ABX, NGQ.to, WLC.v, LI.v, F
Posted by andre at 10:13 AM
With Canadian stock exchange rules we must be explicitly accurate and will state one more time: do not take, please, anything as an investment advise and/or solicitation to buy any particular stock, but for us our heart is where our money now. Our "Big IF" on a company level in our Bull is whether Gary Schellenberg from TNR Gold was able to buy at rock bottom prices the right properties in Lithium and REE before market recognition of this bull and as COO of the company Mike Sieb stated in his interview for Jay Taylor's Watch List multiple projects of brines and hard rock properties provide the most risk balanced approach for value building from historical results and into confirmation of economic potential. International Lithium spin out from TNR Gold will provide another catalyst on a company level.
Nissan Electric Leaf on the roads and GM Volt delivered on time will bring that necessary macro catalyst for market perception shift, when people will realise that Electric Cars are for real this time and this news from Detroit are very encouraging.
We will give another "Big IF" today - what if people will decide that it is just Cool not to kill environment any more? All articles about Electric Cars polluting more then conventional ones are showing us the pain of change and that we are on the right way and it is serious to consider as a threat to conventional wisdom."
Nissan Electric Leaf on the roads and GM Volt delivered on time will bring that necessary macro catalyst for market perception shift, when people will realise that Electric Cars are for real this time and this news from Detroit are very encouraging.
We will give another "Big IF" today - what if people will decide that it is just Cool not to kill environment any more? All articles about Electric Cars polluting more then conventional ones are showing us the pain of change and that we are on the right way and it is serious to consider as a threat to conventional wisdom."
Now TNR Gold / International Lithium has consolidated the area and added 500,000 t of an historical resource of 1% Li2O from adjacent property. This resource comes from pematite #1 and there are 10 pegmatites known on the property. With previous announcement about Lithium and Tantalum values on TNR Gold property this exploration target is gaining further value and importance.
"TNR Gold reports another significant success of International Lithium Corp. exploration program on Mavis Lake, Ontario. Jay Taylor does his homework right and now we can see why he has suggested recently: Jay Taylor Says Look Seriously At TNR
Our main take out from the news: "We are observing both high-grade well-evolved Lithium and Tantalum zonation as well as significant levels of Cesium and Rubidium on the Mavis Lake property," states Gary Schellenberg, President and CEO of TNR Gold, and continues, "The project is clearly emerging as a premier multi-element rare metals project and warrants a major exploration program in 2010. "Dr. Frederick Breaks, Special Advisor for TNR Gold, stated, "The peak tantalum values observed are amongst the highest reported in north western Ontario and when taken in conjunction with the strong widespread nature of the mineralization, this indicates significant exploration potential at the Mavis Lake property." Now we have a hint where will be exploration efforts of TNR Gold in 2010 in hard rock lithium part of its portfolio.Mavis Lake Rare Metals project is growing from staking stage into significant exploration target. Hard rock lithium mining, as you remember, includes the crucial element of necessary credit from other metals and minerals, which could make the potential deposit economical even with recent level of prices for lithium. These discoveries of high Tantalum values, presence of Cesium and Rubidium are making this property a valuable exploration target. Values of lithium and tantalum and types of minerals found on the property are similar to two producing mines: Tanco mine and Wodgina mine.Next step will be to confirm exploration model by drilling program on the property in order to find available tonnage of mineralised material and its grade, which will define economics of potential deposit. There is another significant indication of potential for Mavis Lake property: next to it on the left side on the map is located a historical resource with 500k tones of 1% Li2O in the same geological setting. Size of the property is not limiting exploration potential for economic tonnage to be discovered by further exploration. Tantalum enrichement zone defined by this exploration program is located to the right side of the property after known Lithium enrichment zone. Mavis Lake project enjoys easy access and infrastracture availible for further development in the area.
"TNR Gold reports another significant success of International Lithium Corp. exploration program on Mavis Lake, Ontario. Jay Taylor does his homework right and now we can see why he has suggested recently: Jay Taylor Says Look Seriously At TNR
Our main take out from the news: "We are observing both high-grade well-evolved Lithium and Tantalum zonation as well as significant levels of Cesium and Rubidium on the Mavis Lake property," states Gary Schellenberg, President and CEO of TNR Gold, and continues, "The project is clearly emerging as a premier multi-element rare metals project and warrants a major exploration program in 2010. "Dr. Frederick Breaks, Special Advisor for TNR Gold, stated, "The peak tantalum values observed are amongst the highest reported in north western Ontario and when taken in conjunction with the strong widespread nature of the mineralization, this indicates significant exploration potential at the Mavis Lake property." Now we have a hint where will be exploration efforts of TNR Gold in 2010 in hard rock lithium part of its portfolio.Mavis Lake Rare Metals project is growing from staking stage into significant exploration target. Hard rock lithium mining, as you remember, includes the crucial element of necessary credit from other metals and minerals, which could make the potential deposit economical even with recent level of prices for lithium. These discoveries of high Tantalum values, presence of Cesium and Rubidium are making this property a valuable exploration target. Values of lithium and tantalum and types of minerals found on the property are similar to two producing mines: Tanco mine and Wodgina mine.Next step will be to confirm exploration model by drilling program on the property in order to find available tonnage of mineralised material and its grade, which will define economics of potential deposit. There is another significant indication of potential for Mavis Lake property: next to it on the left side on the map is located a historical resource with 500k tones of 1% Li2O in the same geological setting. Size of the property is not limiting exploration potential for economic tonnage to be discovered by further exploration. Tantalum enrichement zone defined by this exploration program is located to the right side of the property after known Lithium enrichment zone. Mavis Lake project enjoys easy access and infrastracture availible for further development in the area.
We own shares of this company, biased and nothing should be taken as an investment advise on this blog as usual: just enjoy our travel notes "On the way to the Green Future."
"Press Release Source: TNR Gold Corp. On Friday January 15, 2010, 11:44 am EST
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 15, 2010) - TNR Gold Corp. (TSX VENTURE:TNR - News; "TNR" or the "Company") and wholly-owned International Lithium Corp. ("ILC") are pleased to announce the Option to acquire 100% interest in the Fairservice Mining Leases adjacent to the Company's Mavis Lake property located 15km northeast of Dryden in northwestern Ontario, from Rich Resource Investments Ltd. (the "Vendor") a private company of Edmonton, Alberta.
Key Point Summary:
-- Fairservice property consists of 6 Mining Leases;
-- 10 East trending spodumene-beryl-tantalite type pegmatites identified
from past work; and
-- Historical (non NI43-101 compliant) resource of 500,000 tons at 1.0%
Li2O(i).
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 15, 2010) - TNR Gold Corp. (TSX VENTURE:TNR - News; "TNR" or the "Company") and wholly-owned International Lithium Corp. ("ILC") are pleased to announce the Option to acquire 100% interest in the Fairservice Mining Leases adjacent to the Company's Mavis Lake property located 15km northeast of Dryden in northwestern Ontario, from Rich Resource Investments Ltd. (the "Vendor") a private company of Edmonton, Alberta.
Key Point Summary:
-- Fairservice property consists of 6 Mining Leases;
-- 10 East trending spodumene-beryl-tantalite type pegmatites identified
from past work; and
-- Historical (non NI43-101 compliant) resource of 500,000 tons at 1.0%
Li2O(i).
The Fairservice property consists of 6 Mining Leases totaling 88.4 hectares and is dominated by east trending spodumene-beryl-tantalite-type pegmatites considered to be part of the same dyke swarm as on the Company's adjacent Mavis Lake claim block. Past exploration identified 10 pegmatites (Pegmatite #1-10) and delineated an historical (non NI 43-101 compliant) resource of 500,000 tons at 1.0% Li2O at Pegmatite #1(i).
To earn a 100% interest, TNR has agreed to make payments totaling $120,000 and issuing an aggregate of 500,000 common shares of TNR over a three-year period and incurring exploration expenditures totaling $500,000 over a four-year period. The vendor will retain a 5% Net Profits Interest royalty of which the Company has the right to purchase in entirety by paying the Vendor the sum of $1 million. The agreement is subject to regulatory approval.
Mavis Lake Project Summary
Two field programs were undertaken in 2009 consisting of detailed mapping and sampling of the known pegmatite occurrences to assess the lithium (Li), tantalum (Ta) and other rare metals potential of the Mavis Lake property. Composite channel samples returned 1.24 Wt% Li2O over 5.3 metres and 1.4 Wt% Li2O over 4.7 metres from Pegmatite #18.
In addition, a lithogeochemical survey over a 1200m by 900m grid extended the lithium dispersion anomaly (greater than 50 ppm Li) by 1.1kms to 4.5kms in total length. Of special note, 38% (78 of 204 grab samples) graded better than 150 ppm Ta2O5(ii) (tantalum oxide) demonstrating widespread highly anomalous Tantalum mineralization (Company News Release dated December 9, 2009).
The highest tantalum values came from Pegmatites 13, 14 and 16, which occur within an area of 500 by 800 metres that represents the known southeastern exploration limit for rare metal mineralization on the property. This prospective area of elevated tantalum values is underexplored and open to the east and southeast and will be the major subject of field investigation in 2010. Grab samples from this area returned peak Ta2O5 values of 1349 ppm (0.135%) and 1246 ppm (0.125%) from the No.16 and No.14 pegmatites, respectively(ii).
To view the map accompanying this press release, please visit the following link: http://us.lrd.yahoo.com/_ylt=AnIliKXQHVl6wiLaPxtj0Bmtcq9_;_ylu=X3oDMTE2OWh2ZWsxBHBvcwMxBHNlYwNuZXdzYXJ0Ym9keQRzbGsDaHR0cG1lZGlhM21h/SIG=11m7tlb42/**http%3A//media3.marketwire.com/docs/TNRMAP11510.pdf
(i) Note: a qualified person has not done sufficient work to classify the historical estimate as current mineral resources, the issuer is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon.
(ii)Note: grab samples are by definition selective and are unlikely to represent average grades on the property.
Mavis Lake Property General
The Mavis Lake property is located 15 km Northeast of Dryden, Ontario. It is easily accessed via the Trans-Canada Highway and a series of logging roads. The claim block comprises a total of 2,544 ha and covers several known rare metal pegmatites.
Regional pegmatite mineralization is directly associated with the strongly peraluminous Ghost Lake pluton and related pegmatitic granite dykes. Rare metal mineralization in the Mavis Lake area occurs in zoned pegmatites hosted by mafic metavolcanic rocks. Rare metal mineralization has been noted to occur in four zones: internal beryl zone within the parent of the Ghost Lake pluton that evolves into external zones of beryl-columbite, spodumene-beryl-tantalite and albite-type pegmatites. The known pegmatite dykes on the Mavis Lake property comprise spodumene-beryl-tantalite, albite-type or a combination of both.
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 http://www.tnrgoldcorp.com/.
TNR and ILC are diversified metals exploration companies focused on exploring existing properties and identifying new prospective projects globally. TNR has a portfolio of 18 active projects, of which 9 will be included in the proposed spin-off of International Lithium Corp. 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=ApT0rWu5DYIZZmgNHag7Pd6tcq9_;_ylu=X3oDMTE2NzI5M21iBHBvcwMyBHNlYwNuZXdzYXJ0Ym9keQRzbGsDaHR0cHd3d2ludGVy/SIG=11907bp0b/**http%3A//www.internationallithium.com/.
The recent acquisition of lithium, other rare metals and rare-earth elements projects in Argentina, Canada, USA and Ireland confirms the companies' commitments to generating projects, diversifying its markets, and building shareholder value.
On behalf of the board,
Gary Schellenberg, President"
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