VANCOUVER, Oct. 25 /PRNewswire/ - GREENLIGHT RESOURCES INC. (TSXV.GR), announces an update on its field exploration program on the Brazil Lake Lithium and Rare Metal property in Nova Scotia. Three new primary target areas have been identified, which are in addition to the known North and South pegmatite dikes. The three new targets, identified by pegmatite boulder float trains include the Deerfield, Army Road and Church Road areas. Several other areas containing pegmatite float have been identified and will be followed up in later programs.
Field crews have recently completed an initial exploration program on the Church Road target which is part of a systematic program designed to identify other pegmatites on the property. Boulder surveys indicated an anomalous area approximately 500 meters wide and 300 meters long. Spodumene bearing pegmatites provide good evidence for a significant spodumene source to the north of the Church Road. Spodumene bearing boulders are fairly common within this anomalous area but more significantly, shards and fragments of spodumene are found in the till along the road beds and skidder trails traversing the area. The recently completed program focused on following the spodumene fragments up-ice, back towards the possible source area. A series of back-hoe pits were dug down to a depth of 4 to 4.5m and profile samples of the till face were taken at one meter intervals along the pit face. The till samples were then wet screened at -1/4" and -1/16" and counts of the number of spodumene fragments were taken from each sample. Results to date indicate that both the size and frequency of the spodumene fragments increase with depth in the northernmost pits indicating a source area nearby.
The field exploration program is expected to recommence shortly which will include two months of sampling, trenching and prospecting in an attempt to find the sources of the Church Road pegmatite float. The program will include other targets at Army Road and Deerfield which have similar glacial dispersion float trains.
Greenlight has recently completed its phase one drilling program on the Brazil Lake property comprising 28 cored holes totalling 2,652 meters. Cores have been split and samples sent to the assay lab. Results are expected shortly. One of the objectives of the drill program will be to update the NI 43-101 report with a defined resource.
On June 17, 2010, the Company filed a NI 43-101 compliant report on the Brazil Lake property. Approximately 30 holes were drilled by the property's previous private owners. Results indicated that cores returned Li2O grades of economic interest. More specifically, hole BZ-02-15 returned a weighted average Li2O grade of 1.47% over a true width of 12.53 meters, beginning at a down hole depth of 30.9 m, and BZ-93-4 returned a weighted average grade of 1.27% Li2O over 20.9 meters true width, beginning at a down hole depth of 47.1 meters. These intercepts and others contain sub-interval Li2O grades exceeding 2.5%.
John F. Wightman, M. Sc., FGAC, P. Eng., a Qualified Person as defined by NI 43-101 is responsible for the technical information contained in this release.
Other Potential Rare Metals and Industrial Minerals
Prior work on the Brazil Lake pegmatites has also been directed toward definition of valuable mineral or metal components additional to lithium, and preliminary results show that potential exists for creation of industrial mineral products such feldspar, quartz and mica. The company is also investigating potential for recovery of rubidium, tantalum and tin from the pegmatites. On March 2nd, the Company announced assay results from drill holes which addressed other rare metals contained within the Brazil Lake pegmatites. These included rubidium ("Rb"), beryllium ("Be") and tantalum ("Ta"). Examples of the grades included Hole #02-15 in the lithium pegmatites which returned values up to 1,398 parts per million ("ppm") Rb over 15.3 meters including 2,625 ppm Rb over 4.2 meters. Hole #02-24 in the lithium pegmatites returned Be values of up to 200 ppm over 35.8 meters, including 304 ppm Be over 14.9 meters. Also, hole #93-2 in the lithium pegmatites returned Ta values of up to 102 ppm over 24 meters, including 541 ppm Ta over 1.0 meter. (One parts per million is equal to one gram per tonne)
Porcupine-Upper Miramichi REE Property
On October 15th, the Company announced the signing of a letter of intent to earn up to a 100% undivided interest in the Porcupine-Upper Miramichi Rare Earth Property in New Brunswick. The primary target is the various rare earth elements (REE) that were discovered in soil samples on the property in 2007. Soil assays for REE's include Samarium (Sm), with reported with grades of up to 218 ppm (g/t) and Dysprosium (Dy) with grades of up to 98.6 ppm (g/t), Neodymium (Nd) with grades of up to 1190 ppm (g/t), Ytterbium (Yb) with grades of up to 31.3 ppm (g/t) and Yttrium (Y) with grades of up to 472 ppm (g/t). Reported assays for Heavy REE's include Terbium (Tb) with grades up to 20.3 ppm (g/t) and Ytterbium (Yb) with grades up to 31.3 ppm (g/t) while reported light rare earth metals include Cerium (Ce) with grades up to 459 ppm (g/t) and Lanthanum (La) with grades up to 1,300 ppm (g/t).
About Greenlight Resources Inc.:
Greenlight Resources Inc. is a Canadian exploration company focused on the discovery and development of Lithium and rare metal deposits. The Company is currently focused on the 8,520 acre Brazil Lake property is located approximately 30 kilometres north of Yarmouth, Nova Scotia, and 12 kilometres west of the Avalon Rare Metals (AVL) East Kemptville Project. Drilling to date has successfully revealed two Lithium bearing pegmatite dikes. In addition to Lithium, the dikes host several other rare metals such as tantalum, niobium, beryllium, tungsten tin and rubidium. Metallurgical bench testing to date has also revealed other potential economic targets, including cosmetic grade mica, silica chloride, aluminum chloride and rubidium enriched potassium feldspar.
On Behalf of the board of directors
Ron Bourgeois, President
FOLLOW US ON:
Tel: (604) 488-3900, email: info@GreenLightResources.ca
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements relating to future events or future performance and reflecting Green Light Resources management's expectations or beliefs regarding future events include, but are not limited to, statements with respect to completion of the private placement and related matters. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. By nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Green Light Resources to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of resources; possible variations in ore reserves, grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities; as well as those factors detailed from time to time in Green Light Resources interim and annual financial statements and management's discussion and analysis of those statements, all of which are filed and available for review on SEDAR at www.sedar.com. Although Green Light Resources has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements.
SOURCE Greenlight Resources Inc.