(PRZCF.OTCBB) (PH0.FRANKFURT) (TSXV.GR)
VANCOUVER, Aug. 23 /CNW/ - GREENLIGHT RESOURCES INC. (TSXV.GR), announces that it has received preliminary results from its mapping and prospecting on its Brazil Lake Lithium and Rare Metal property in Nova Scotia. Three new primary target areas have been identified, which are in addition to the known North and South pegmatite dikes which are currently being drilled. The three new targets, identified by pegmatite boulder float trains, the Deerfield, Army Road and Church Road areas are deemed to be worthy of immediate follow-up work. Several other areas containing pegmatite float have been identified and will be followed up in later programs.
Three discrete pegmatite float trains are evident on this segment of the claims. These float trains are about 300 meters in length and 50 to 75 meters in width and are oriented at 220 degrees. Till fabric analysis indicates that the ice direction is also at 220 degrees. The individual trains are quite uniform in their pegmatite composition. The northern train is mica, cleavelandite and tantalite bearing, the central train is cleavelandite and mica bearing while the southern train is spodumene and mica bearing. The spodumene is the host mineral for Lithium in the Brazil Lake pegmatites. These float trains are thought to represent glacial dispersion from three separate dikes situated to the north-east of the boulder fields.
A program of systematic back hoe pitting and till analysis up ice from the boulder trains is planned for this area.
The Church Road target is a 400 meter square area of float boulders and pegmatite debris. The float consists of numerous mica and spodumene bearing boulders weighing up to 5 tonnes. Two bush roads which traverse this block contain numerous pegmatite fragments in the road bed including numerous spodumene fragments. Although there is not a well defined orientation to the float train such as that seen at Deerfield, it appears that this float has moved in a roughly 190 degree direction.
A program of back hoe pitting up-ice from the float area is planned in order to determine till fabric and composition. The data gleaned from this work will be essential in discovering the source area of this spodumene bearing pegmatite.
Recent road ditching work done by the Nova Scotia Department of Transportation has uncovered a small outcrop of mica rich pegmatite along the north side of the Holly Road. This exposure is oriented at 47 degrees which is the same direction as the North and South dikes located approximately 300 meters to the west. Associated with this dike are two float trains; one mica rich and the other spodumene rich. Both of these float trains emanate from the southern strike projection of the pegmatite outcrop.
This target is deemed to be the highest priority target of the three float areas and plans are currently underway to expose more of the outcrop through a trenching program expected to begin shortly. If the trenching work is successful, then this target may be included in the drill program currently underway to more fully assess the economic potential of the this new dike.
John F. Wightman, M. Sc., FGAC, P. Eng., a Qualified Person as defined by NI 43-101 is responsible for the technical information contained in this release.
About Greenlight Resources Inc.:
Greenlight 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 8,520 acre Brazil Lake property 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.
On Behalf of the board of directors,
Ron Bourgeois, President
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Forward-looking statements relating to future events or future performance and reflecting Green Light Resources 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 Green Light Resources 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 Green Light Resources 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 Green Light Resources 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: Investor Relations: John Curle, Email: IR@GreenLightResources.ca; Green Light Resources Inc, Vancouver, BC, Tel: (604) 488-3900, email: info@GreenLightResources.ca