GreenLight Acquires Manganese Property: Previous channel sampling indicated 12 meter wide zone of 9.67% Mn
GreenLight Resources Inc.
V.GR: TSX-V
GreenLight Acquires Manganese Property: Previous channel sampling indicated 12 meter wide zone of 9.67% Mn
VANCOUVER, British Columbia – GREENLIGHT RESOURCES INC. (TSX-V.GR, PRZCF.OTCBB, PH0.FRANKFURT), is pleased to announce that it has acquired by staking, the Tomahawk Manganese property located 22 kilometres west of the village of Sunny Corners New Brunswick. The manganese (Mn) prospect at Tomahawk Ridge was discovered by Bev Stewart in 1976. He subsequently staked claims to cover the showing and optioned the ground to Heath Steele Mines. They carried out a program of surface channel sampling and mineral separation work in order to determine the manganese potential of property. The property was given a positive recommendation by the HSM, but further work was never carried out. The property was subsequently acquired by Noranda in 1979 for its base metal potential but no further exploration was conducted on the property.
The channel sampling work indicated that the mineralized zone runs 9.67% Mn and 9.33% Fe over a width of 40 feet (12 meters). Individual grab samples of the zone vary between 6% and 17.6 % Mn with the Fe content decreasing as Mn grades go up. The mineralization occurs as breccia infilling in chert or quartz porphyry at the contact between massive andesite to the north and siltstone to the south. Limited mineral identification has been done but the main Mn bearing minerals are manganite, pyrolusite and rhodonite. A similar quartz porphyry horizon, some 500 meters to the west contains disseminated galena and sphalerite but no assays have been done on this rock to date. Readers are cautioned that the above assay results are from the 1970's and have not yet been independently verified by current assay methods and therefore, may not be representative.
A total of 52 claims (2,080 acres) were staked at Tomahawk Ridge to cover the Mn showing and the prospective base metal-bearing quartz porphyry horizon.
Manganese is essential to iron and steel production by virtue of its sulfur-fixing, deoxidizing, and alloying properties. Steelmaking, including its iron-making component, accounts for most domestic manganese demand, presently in the range of 85% to 90% of the total. Manganese ferroalloys, consisting of various grades of ferromanganese and silicomanganese, are used to provide most of this key ingredient to steelmaking. Products for construction, machinery, and transportation are leading end uses of manganese. Manganese also is a key component of certain widely used aluminum alloys and, in oxide form, dry cell batteries.
Patrick Forseille, P. Geo., a Qualified Person as defined by NI 43-101 is responsible for the technical information contained in this release.
About GreenLight Resources Inc.:
Lithium and Rare Metals Project - Brazil Lake
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.
Gold Project - Kemptville
The Company acquired a 5,080 acre high grade gold prospect located in one of Nova Scotia’s historic gold mining districts. 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. A recent IP survey conducted by Greenlight identified several anomalies which have been targeted for drilling. This was followed by an SGH (soil-gas-hydrocarbons) soil sampling survey carried out in order to discriminate between potentially auriferous and non auriferous IP highs and to identify the source area of the gold in till anomalies. A diamond drill program recently completed 8 holes and 2,068 meters as of April 26, 2011. Targets include coincident anomalies from the Company's recent IP survey and SGH soil sampling survey, which have been integrated into a 3D model utilized to identify the locations.
Rare Earth Element Project - Porcupine
The Company acquired 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), were 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). The Company is currenlty conducting an initial mapping and prospecting program over the property.
Graphite Project - Golden Grove
The Company staked approximately 400 acres over the Golden Grove Graphite deposit located 24 kilometres northeast of Saint John, NB. The area has a history of high grade graphite mining as it was mined in this area between about 1880 and 1910. A Company review of the metallurgical potential of this deposit confirmed its economic potential. Current and planned production of high quality graphite is only a small fraction of the projected requirements of the battery and automotive industries which suggests that the price of high quality graphite will at least maintain its current price of approximately $2,400 per tonne, and possibly approach that of synthetic graphite which currently sells for in excess of $19,000 per tonne. Plans are underway to examine and sample the trenches and rock dumps to obtain samples of the high grade graphite to establish grain morphology. Sampling of the walls will also be undertaken to see if there is lower grade graphite between the high grade zones. Drill core from previous drill programs on the property are accessible and will be re-logged and sampled where necessary. Prospecting and mapping is also planned with a view to developing a larger tonnage deposit.
Silver and base metals - Keymet
Greenlight acquired a 100% interest in the Keymet property located 24 kilometres NNW of Bathurst, New Brunswick. The property covers 6,400 acres and is named after a small past producing mine located on the property which produced a total of 56,000 tons @ 0.25% Cu, 2.44% Pb, 2.59% Zn and 0.99 opt Ag between 1954 and 1956. a shaft was sunk to the 366 meter level with drifts established on the 45, 91, and 137 meter levels. Production ceased in 1956 when a fire destroyed the mine buildings. Based on historic geophysical and geochemical data, there is good evidence that a series of three and possibly four, parallel vein systems occur on the property. Exploration planned for the Keymet claim group will include re-establishment of the geochemical/geophysical grids and locating the historic anomalies on the ground. Confirmation of the soil anomalies with follow up trenching, where applicable and ultimately diamond drilling of the four proposed vein systems will be done during the upcoming exploration program.
On Behalf of the board of directors
“Chris Anderson”
Christopher R. Anderson,
CEO – President
Investor Relations
John Curle
Email: IR@GreenLightResources.com
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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.
Contact Greenlight
Green Light Resources Inc.
Suite 888 – 888 Dunsmuir Street Vancouver, B.C., V6C 3K4
Office 604-488-3900
Exploring Atlantic Canada | Lithium, Rare Metals & Rare Earths | Green Light Resources
