The Root Lake Property:
The Root Lake property, 100% owned by Landore, is located in the province
of Ontario, Canada, approximately 300 kilometres (km) north-west of
Thunder Bay and is host to the McCombe Pegmatite containing a historic
2.297 million Tonnes grading 1.3% Lithium (Li(2)O)
(AIM Ticker: LND.L)
THUNDER BAY, ON, Sept. 15 /CNW/ - Lithium, the lightest metal and the least dense solid element under standard conditions, has seen a steady growth in demand over the past 20 years accelerating in the past few years. Its applications include: Medicine; high temperature lubricants; heat resistant glass; ceramics and most importantly in rechargeable batteries where the most rapid growth is now occurring.
Brancote Canada acquired the Root Lake Property together with a portfolio of properties from Conwest Mining Inc in 1997. Landore acquired Brancote Canada in 2000.
The Property, consisting of 33 patented claims for a total of 513.43 hectares on which Landore owns both the mineral and surface rights, lies in the Red Lake Mining Division, 150 km east of Red Lake and 130 km north of Sioux Lookout. Access to the property is via Sioux Lookout using the well maintained Vermilion River and Rawhide unsealed roads, the latter transecting the north-eastern corner of the claims.
The McCombe Pegmatite was discovered by Capital Lithium Mines Ltd. in 1956 during an exploration boom for Lithium and is one of a number of rare-element pegmatites that occur over a 350km strike-length of the boundary zone between the Uchi and the English River sub-provinces, in the Superior Province of Ontario.
The McCombe Pegmatite, comprising two main spodumene-bearing dykes, has been traced on surface for a strike length of 550 metres with widths up to 19 metres.
Capital Lithium Mines Ltd. completed a diamond drilling program on the Root Lake Property in 1956, consisting of 55 drill-holes for 10,442 metres, establishing a resource of 2.297 million tonnes grading 1.3% Lithium (Li(2)O) on the McCombe Pegmatite. (Mulligan 1965)
(Note: The above resource is not compliant to Canadian National Instrument 43-101 (NI43-101).
Spodumene and lepidolite were reported to be common in the pegmatite. Tourmaline, beryl, holmquisite, columbite-tantalite, and petalite were found in small portions.
The McCombe Pegmatite is also important as it contains the extremely rare mineral Liddicoatite (Tindle 2005) which has the potential to be used as a gemstone (similar to Topaz).
Capital Lithium Mines Ltd advanced the Root Lake mineral claims into Patented status in preparation for mining. However in the late 1950's the demand for lithium fell resulting in suspension of further development of the project.
With the significant increase in demand for Lithium, used in rechargeable batteries in the automobile Industry, Landore has decided to initiate an independent compilation of the historical data on the McCombe Pegmatite Lithium deposit to determine its potential for further development.
Marc Sale, (BSC. Geology, Fellow AusIMM, member AIG) a consultant to Landore Resources Limited and a qualified person as defined in the Canadian National Instrument 43-101, has reviewed and verified all scientific or technical mining disclosure contained in this announcement, which is stated in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum.
SOURCE Landore Resources Limited
For further information: For further information: Bill Humphries, Chairman, Tel: 07734 681262; Richard Prickett, Chief Executive, Tel: 07775 651421; Landore Resources Limited, www.landore.com; Simon Raggett, Tel: 020 7409 3494, Strand Partners Limited; David Bick, Tel: 07831 381201