Coniagas announces commencement of Phase I exploration program on Cyr Lithium Property

    TORONTO, Sept. 18 /CNW/ - Coniagas Resources Limited ("Coniagas" or the
"Company") (TSX-V: "CNY") is pleased to announce the commencement of a "Phase
I" exploration program on the Company's Cyr Lithium Project in Northern
Quebec. The program is based on the recommendations of a recently completed a
technical review and 43-101 report to be posted on SEDAR shortly. The program
will include:

    -   Review of historical data
    -   Approximately 1100 metres of diamond drilling
    -   Mapping of the property area focused on defining the lateral extent
        and orientation of pegmatite dykes
    -   Detailed sampling and multi-element assaying of drill core and grab

    The drilling program will be used to define a volume of pegmatite
material towards establishment of an inferred resource over a portion of the
known extent of the lithium-bearing pegmatite covering a surface area of
approximately 900 metres x 200 metres. The drilling will consist of a series
of vertical and inclined holes on approximately 100 m centers. The drill holes
will test the depth extent of the pegmatite to a depth of approximately 50 m
-75 m.
    Assaying will be completed at Accurassay of Thunder Bay, with sample
preparation being done at TJCM of Chibougamau under specific control
guidelines from the lab. Assay methodology is by ICP with a multi acid (MA)
predigestion; lithium is the main element analysed for followed by an
approximately 30-element suite, including a number of other rare-earth
elements (REE) often associated with pegmatites.
    Drilling, assaying and analysis associated with Phase I is expected to be
completed by early in November.
    The program is being managed by Mr. James McCann, P.Geo, who is a
Qualified Person for this work and press release under the requirements of
National Instrument 43-101.
    A second phase program, which would be dependant on confirmation of size
and lithium (and other potential economic element) grades of the pegmatites
encompassing the phase I drill area, would commence after completion of phase
one. This second phase would consist of volume determination of individual
pegmatite dykes and overall pegmatite volumes through additional drilling,
specific gravity analysis, and resource calculation, in addition to detailed
Metallurgical testing on core material which would be required for market
analysis and preliminary economic analysis.
    The Cyr Lithium Prospect is located roughly 100 km due east of James Bay
and 383 km north of Matagami, Quebec. In April 2008, the Company signed a
Letter Of Intent with a group of optioners including Société De Développement
De La Baie James to explore and develop the Prospect. The Cyr Property is of
particular interest because of the large lateral extent of pegmatite outcrop
on the property indicative of large tonnage potential. The property covers an
area of roughly 19 square kilometers. Previous work on the property conducted
in the 1970s defined an area of 45,000 square metres of outcropping spodumene
pegmatite dykes. Approximately 75% of the pegmatite outcrops were sampled
through percussion drilling and trenching with the dust material of 277
vertical short holes returning an average grade of 1.7% Lithium. Mapping
conducted at that time implied a surface exposure of spodumene pegmatite dykes
amounting to 121,500 tonnes per vertical metre grading at 1.7% Li2O. Based on
these figures, a potential deposit with a depth of 100 metres was hypothesized
containing in excess of 12 million tonnes of Lithium -bearing pegmatite.
    Lithium is of growing interest as technology and interest in battery
powered vehicles increases.

    About Coniagas

    Coniagas Resources Limited ("Coniagas") is a Canada-based resource
company whose focus is to explore and develop mineral deposits throughout
North America. The Company, created in 1906, is listed on the TSX Venture
Exchange under the symbol CNY and as of August 27, 2007 has approximately
12 million shares currently outstanding and approximately 14.6 million shares
fully diluted.
    The Company's other current assets include a 40% equity ownership with
St. Andrews Goldfields Limited, in a joint venture to explore certain mineral
claims in Garrison, Michaud and Guibord townships in Ontario and a 100%
interest in the former producing Nudulama (Missanabie Mine) property in the
Wawa region of Ontario.

    This press release contains forward-looking statements which reflect the
Company's current expectations regarding future events. The forward-looking
statements involve risks and uncertainties. Actual results could differ
materially from this projected herein. Although we believe that our
expectations are based on reasonable assumptions, we can give no assurance
that our expectations will materialize.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of the content of this

For further information:

For further information: David Meyer, President & CEO, (416) 597-0969,

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890