Formerly Petro Horizon
(PRZCF.OTCBB) (PH0.FRANKFURT) (TSXV.GR)
VANCOUVER, Aug. 13 /CNW/ - PETRO HORIZON ENERGY CORP. announces that it has received TSX approval to change its name to GREEN LIGHT RESOURCES INC. (TSXV.GR)
The Company believes that its new name, Green Light Resources Inc., better reflects its current vision and strategy: beginning with the acquisition of its Brazil Lake Lithium property in Nova Scotia. The Company will begin trading under its new name effective at the open on August 13, 2010 on the TSX Venture Exchange ("TSX-V"), under the new stock symbol, "GR".
About Green Light Resources Inc.:
Green Light 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 3,160 acre Brazil Lake property which 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.
As per a news release dated July 21, 2010, field crews have initiated the 2010 work program consisting of a detailed prospecting and mapping grid over the property. The focus will be on locating other pegmatite dikes in addition to the established North and South dikes. A baseline (North-South) would be established to cover the ground between Bloomfield and Deerfield and cross lines (East-West) put in at 100 meter intervals extending between the Brazil Lake road on the west and the Meguma/White Rock contact on the East. This would result in a 8 km long baseline and 2 km long cross lines. Detail work would be done on 25 or 50 meter lines where targets develop. All significant points will be surveyed in using GPS and mapping of all outcrops will be undertaken. Any areas that show signs of a potential pegmatite discovery would then be trenched or recommended for follow up exploration using secondary methods such as geochem and/or geophysics. Results may serve to define other drill targets for the drill program scheduled to proceed immediately thereafter.
On Behalf of the board of directors
Ron Bourgeois, President
For further information contact :
Mr. John Curle
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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 Petro Horizon's 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 Petro Horizon 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 Petro Horizon's 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 Petro Horizon 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.
For further information: For further information: on Green Light Resources Inc.: John Curle at: Tel: (604) 488-3900, email: email@example.com