TSX Venture Exchange: MHI
Frankfurt Stock Exchange: N8Z/WKN: AODLHP
Pink Sheets: MHIFF
VANCOUVER, Feb. 11 /CNW/ - Mineral Hill Industries Ltd. (the "Company" or "MHI") is pleased to announce that the TSX Venture Exchange has accepted for filing relating to the NI 43-101 Technical Report with respect to its three lithium property acquisitions: the "Chubb Lithium" property, located in the Archean Abitibi Greenstone belt in the La Corne Township, the "International Property", also located in the Abitibi Greenstone in the Figuery Township and, the "Athona Property", which is also well positioned with respect to access roads and transportation and only 10 kilometers west of the Québec Lithium Mine deposit. These three acquisitions were previously announced in the Company's news releases dated May 12, 2009, August 17, 2009 and September 21, 2009.
Michel Boily, PhD, P. Geo is the author of NI 43-101 Technical Report, which is now available on SEDAR and its new website www.mineralhill.com. Mr. Boily read and approved the technical information from the report summarized below:
Ground based magnetic and IP/PP surveys allowed the identification of six NNW-oriented chargeability anomalies whose surface projections correspond to the broad trend defined by the strike of spodumene-bearing granitic pegmatite dykes. Geochemical sampling of three dykes display variable but generally elevated Li(2)O concentrations (0.01-2.84 wt. %; Average: 0.89+/-0.77 wt. % (n=59). The Main Dyke, which is 300 m long, has a somewhat higher average Li(2)O concentrations (1.00+/-0.79 wt. %; n=41) than the other two smaller dykes (0.70+/-0.66 wt. % (n=8) and 0.56+/-0.78 wt. % (n=8)).
Magnetic and IP surveys, carried out on the Bouvier Lithium showing of that Property, identified three NE to EW-oriented chargeability anomalies that display a broad orientation parallel to the general strike of exposed and buried granitic pegmatite dykes. One anomaly overlies new trenches that exposed an EW-oriented spodumene-bearing granitic pegmatite dyke. This dyke reveals variable but generally elevated Li(2)O concentrations (0.04-2.91 wt. %; Average: 1.51+/-0.91 wt. % (n=20)). Results from the International showing pegmatite dyke define variable and moderate Li concentrations (0.01-2.65 Li(2)O wt. %; Av: 0.38+/-68 (n=17).
The Athona property contains molybdenite mineralization associated with intrusions of albitites and granitic pegmatite dykes. The potential for molybdenum was confirmed by the new assays that included five samples carrying MoS(2) values (greater than) 0.25 wt. %, with two samples having greater than 1.69 wt. % MoS(2). Further exploration in the southern part of the property which is more susceptible to contain Li-bearing granitic pegmatite dyke exposures is expected to be carried out in 2010. Further information about the Company and its new focus on Lithium is available on the Company's revamped website at www.mineralhill.com.
Neither the 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.
SOURCE Mineral Hill Industries Ltd.
For further information: For further information: Dieter Peter, Chief Executive Officer, Telephone: (604) 685-4170; John Punzo, President, Telephone: (604) 685-4170