VANCOUVER, BRITISH COLUMBIA -- 11/03/09 --
TNR Gold Corp. ("TNR" or the "Company") (TSX VENTURE: TNR) 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
Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. News release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
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Contacts:
TNR Gold Corp.
Gary Schellenberg
President
(604) 687-7551 or 1-800-667-4470
(604) 687-4670 (FAX)
info@tnrgoldcorp.com
www.tnrgoldcorp.com
