Vancouver B.C.: TNR Gold Corp. (“TNR” or the “Company”) and wholly-owned International Lithium Corp. (“ILC”) is pleased to announce the initiation of a comprehensive exploration program on the Company’s 100% owned Mariana Lithium brine project, located 120 km west of Tolar Grande, Salta province, Argentina.
Key point summary:
Brine sampling program initiated for complete grid coverage of salar;
Geochemical investigation initiated to develop hydrogeological model of the salar;
Encouraging reconnaissance values up to 283 mg/L lithium from shallow subsurface pits; and
Company ownership encompasses entire salar, 120 km2 contiguous mineral claims;
President of TNR Gold, Gary Schellenberg states, “We are highly encouraged by the preliminary results and observations reported from the Mariana project. The initial phase of exploration is expected to significantly expand our knowledge and understanding of the salar with the objective to rapidly advance the project to the drill ready stage.”
Mariana Exploration Program
The company has embarked on a comprehensive exploration program on its 100% owned Mariana property.
This initial phase of exploration, already underway, entails:
a regimented shallow subsurface brine sampling program set at a 2km grid spacing for complete coverage of the salar;
a detailed hydrogeologic investigation and sampling program; and
structural interpretation and lithogeochemical analysis of the immediate area.
The primary goal of the initial phase of exploration is to geochemically characterize the shallow subsurface brine across the salar, determine zonation and better understand the hydrogeologic model and lithium concentrating mechanisms. The Company’s intent is to rapidly advance the project to the drill ready stage but will await completion of the initial phase of exploration, receipt and compilation of the results before a decision is announced.
About the Mariana Project
The Mariana project, a lithium-boron salar, consists of several contiguous mineral claims covering 120 km2 and strategically encompasses the entire salar. Salars, or salt lakes, host some of the largest known lithium and boron resources in the world. Lithium brines with economical grade can be produced directly from Salars without the need for costly and time consuming process of mine construction.
TNR personnel completed a preliminary reconnaissance on the property in order to confirm historic data that reported significant lithium, boron, and potash levels in brines and sediments within the main body of the salar. Seven shallow subsurface brine samples were collected over a limited 3 km length of salar margin with four returning values from 188 to 283 mg/L lithium, and 423 to 698 mg/L boron. These lithium concentration levels are comparable to early stage results from producing salars in North and South America.
Milligrams per litre (mg/L) are approximately equal to parts per million (ppm) when the density of the brine is similar to fresh water.
John Harrop, 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.
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,
The TSX Venture Exchange does not nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release. 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.