TSX Venture Exchange: MHI
Frankfurt Stock Exchange: N8Z/WKN: AODLHP
Pink Sheets: MHIFF
VANCOUVER, June 30 /CNW/ - Mineral Hill Industries Ltd. (the "Company" or "MHI") is pleased to announce that, further to its news release on June 2nd, 2010, with respect to its newly acquired Lithium property, the Company has commenced the first phase of fieldwork program on the "Canadian Lithium and Martin McNeely property" in the northwestern part of Quebec, approximately 40 kilometers northwest of the mining town of Val d'Or within the Landrienne and La Corne townships. The property is well located with respect to access roads and transportation.
Within the property boundary, there are numerous parallel pegmatite dykes trending east-southeast in the contact area between the metasediments and the intrusives of the Lacorne batholiths. The most important of these are three parallel dykes located on the extreme south of lots 25 to 27. These dykes have NW strikes and they extend towards the south. Their widths vary from 100 to 300 feet. Spodumene-bearing pegmatite bodies have been discovered in several areas on the property and on all contiguous properties. The Canadian Lithium prospect and its extension are considered the most promising exploration target.
In 1955, Canadian Lithium Co. Ltd. drilled a total of 66 diamond drill holes in the area that include both the Canadian Lithium and Martin McNeely prospects. Most of the drill holes are located on the adjacent claims directly north of the property boundary and right on the northern property boundary line, eight holes were drilled on the subject property. The historical drill results are well documented and are listed on Mineral Hill's Website.
Since the property hosts the extension of the Canadian Lithium prospect, it is considered the most promising target on the subject property. Dykes of the Canadian Lithium prospect are exposed in a zone over 100 to 300 feet wide, their widths vary from 100 to 300 feet. This is definitely of economic interest based on several wide drill intersections.
Mineral Hill's initial phases of exploration for the property will be as follows:
Evaluation of the existing database which represents the total exploration work conducted on the property area between 1944 and 1991. A detailed geological study will be undertaken to determine more precisely the extent and the grade of lithium mineralization within the property area followed by a work program consisted of two phases is recommended:
Phase I (currently being conducted) includes a magnetic and IP surveys and geological mapping of the whole property as well as overburden stripping and channel sampling of the known lithium occurrences of the main prospects (Canadian Lithium and Martin McNeely). Preliminary metallurgical test will also be conducted along with mineralogical studies.
Phase II will consist of diamond drilling, if and where justified by the results of Phase I. A minimum of 15 holes is required on dykes of the Canadian Lithium target area.
About Mineral Hill Industries Ltd.
Mineral Hill Industries Ltd. is a Canadian based mineral exploration and development company trading on the TSX Venture Exchange (MHI), the Frankfurt Exchange (N8Z/WKN: AODLHP), and the OTC Pink Sheets (MHIFF). Mineral Hill has accumulated a diversified portfolio of quality lithium and precious metal properties primarily in Canada and the USA. The Company's determination in developing its lithium exploration projects in Quebec, Canada, and in Nevada, USA, will remain a major focus. The Company's pursuit in accelerating the development of its existing gold exploration and production opportunities and attracting a strong management team will enhance its effectiveness to execute its objectives and mission.
Mineral Hill recently completed and filed a NI 43-101 Technical Report on three prospects located near Val d'Or, Quebec which confirmed elevated Li(2)O concentrations as announced on. Following completion of the presently conducted program. Mineral Hill is also pursuing the development of its present gold property assets and prospective opportunities including the completion of the NI 43-101 Technical Report on its Praxis Goldfields Property located in British Columbia.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
SOURCE Mineral Hill Industries Ltd.
For further information: For further information: For more information on Mineral Hill Industries Ltd. and its projects visit the Company's website at www.mineralhill.com or contact: John Punzo, President, Mineral Hill Industries Ltd., Telephone: (604) 685-4170; Michael Johal, Investor Relations, Mineral Hill Industries Ltd., Tel: 604-630-6792, firstname.lastname@example.org; Investor Relations, Senergy Communications, email@example.com, Shiro Rae, Tel: 778-331-2031