Mar. 24, 2011 (Canada NewsWire Group) --
VANCOUVER, March 24 /CNW/ - GREENLIGHT RESOURCES INC. (TSXV: GR), announces results from a SGH (soil-gas-hydrocarbons) soil sampling survey on its Kemptville high grade gold prospect in Nova Scotia. The gold property, located north of the village of Kemptville, encompasses one of Nova Scotia's historic gold mining districts, and is less than a 20 minute drive along a paved highway from the Company's Brazil Lake Lithium and rare metal property.
Over the winter of 2010-2011 on the Kemptville high grade gold prospect, a total of 267 soil samples were taken at 50 meter intervals on lines spaced 100 meters apart using protocols established by Activation Labs based in Aurora Ontario. The survey area covered the historic gold workings and surrounding areas. Exploration work carried out by Green Light Resources and prior operators on the property had identified extensive gold grain in till dispersion trains emanating from sources removed from the old gold workings. These till anomalies are related to deep penetrating IP chargeability highs that underlie the district. Six north west trending SGH anomalies occur on the grid which are thought to be indicative of cross cutting gold bearing features. Several of these apical anomalies are coincident with the IP anomalies and are targeted for diamond drilling in the upcoming phase of exploration.
Based on the strong correlation of the IP Survey and SGH soil sample analysis at Kemptville, the Company took 63 trial samples over the North dike at Brazil Lake to obtain an SGH signature for the lithium bearing pegmatites. This technique could then be used to search for additional dikes on the 8,520 acre property. Pegmatite dikes cannot be identified with magnetic surveys nor with IP surveys. Based on the template developed over the established North dike; an additional 435 samples were taken on 50 metre intervals on lines spaced 100 metres apart. Activation Labs have processed the samples and their analysis has identified a series of five, linked nested- halo SGH anomalies which are immediately up-ice from spodumene bearing glacial till and directly overlay Li+Rb+Ta "B" horizon soil anomalies.
The SGH technique has deep penetration capability (up to 290 metres for Au deposits and 520 metres for U deposits below surface). The hydrocarbon signatures are directly linked to the deposit type which is used as a food source for the microbes. The microbial communities which thrive in the presence of mineralization release their hydrocarbon signature upon death. The hydrocarbons plume upwards by vertical mass transport forming reduced zones above the mineralization which are characterized by depleted zones in the central area and enriched flanks. These Redox cells are indicative of the underlying mineralization forming rabbit ear or nested-halo type anomalies. Activation Labs have reported on the Brazil Lake survey and indicate that the anomalies evident have a confidence level of 5 on a scale of 6. This rating compares the Brazil Lake results with results obtained in a SGH test survey over a lithium deposit in northwestern Ontario. Based on the results of the SGH survey and the surveys correlation with both soil and glacial till anomalies, it is felt that excellent drill targets have been identified on the claims which will be tested in the upcoming phase of exploration at Brazil Lake.
About GreenLight Resources Inc.:
Lithium and Rare Metals Project
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. 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.
Rare Earth Element Project
In February 2011, the Company executed a definitive agreement 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).
Gold Project - Kemptville
On November 5, 2010, the Company announced a letter of intent to acquire a high grade gold prospect located in one of Nova Scotia's historic gold mining districts. The Property is comprised of 127 claims (40 acres each) for a total of 5,080 acres. High grade gold was discovered on the property over 100 years ago and was produced primarily in the late 1800's from two underground mines, the Kempt and the Cowan. Modern exploration techniques were used to identify a target area between the two former producers featuring numerous high grade angular float boulders, several of which have assayed over 300 g/t (grams per tonne) (about 9 ounces/ton) Au. Recent bulk till sampling over an area approximately three square kilometres has identified a very large "gold in till" anomaly measuring approximately 800 meters in width and extending 2,000 meters down ice. It is centered in an area between the two former mines, coincident with the area of high grade float. The analysis revealed gold grain counts up to about 1,000 grains in a standard 10 kilogram basal till sample. Analysis of the morphology of the gold grains indicates that they have travelled only about 100 meters from source. This technique played an important part in identifying some of the zones in the very large Rainey River gold property in Ontario. However, float samples are selective by nature and are unlikely to represent average grades on the property. Plans are underway to commence an IP Survey over the property to assist in identifying drill targets.
Patrick Forseille, P. Geo., a Qualified Person as defined by NI 43-101 is responsible for the technical information contained in this release.
On Behalf of the board of directors
Ron Bourgeois, President
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.
|FOLLOW US ON:|
Tel: (604) 488-3900, email: info@GreenLightResources.ca