EDMONTON, March 10 /CNW/ - Solid Resources Ltd. ("Solid" or the "Company") (TSX Venture: SRW) (Frankfurt: A0BLQQ) announced today the results of a National Instrument (NI) 43-101 qualifying report (the "NI 43-101 report") prepared by John R. Goodwin MSc, P.Geol, of Edmonton, Alberta relating to the Alberta 1 (Doade-Presqueira) concession in Spain. Mr. Goodwin is a consultant to the Company and is a qualified person under NI 43-101. This report will be filed on SEDAR at www.sedar.com within seven days of this release.
This property was historically classified as a Tin deposit however exploration activities from 2000 to 2005 by Solid Resources have confirmed encouraging assays for Lithium, Tantalum, Cesium, Rubidium as well as Tin.
Mineralization within the pegmatites consists of significant quantities of Lithium, Tantalum, Tin, Niobium, Rubidium, and Cesium. The surrounding schist also contains significant quantities of Lithium, Rubidium and Cesium. The mineralized pegmatites are located in a northerly trending belt approximately 0.6 km wide and 15 km in length.
A summary of the two drill programs completed on the Alberta 1 (Doade-Presqueira) property is as follows. During the period February through May, 2003 a scout diamond drilling program consisting of 10 holes was conducted. Results are presented in the January, 2004 technical report and in news releases.
Average assay results from drill holes S0-03-4, S0-03-5 and S0-03-6 in the southern portion of the property returned the following results. The sample width of the dyke and host schist material was approximately one meter ranging up to 10.8 meters.
Lithium - 3,329 g/t
Rubidium - 1,250 g/t
Tantalum - 267 g/t
Tin - 924 g/t
In 2003 the Company recognized that significant quantities of the metal Rubidium occur along with Lithium, Tantalum, Niobium and Tin in the mineralization on the Doade-Presqueira. Twenty three drill core samples that assayed high in Lithium were analyzed for Rubidium and results show quantities varying between 500 and 2600 grams per tonne Rubidium in samples selected. The average of these samples is 1088.1 grams per tonne. Rubidium is used for medical applications to assist in locating brain tumors and to treat breast cancer. It is also used in electronic devices such as cathode ray tubs, vacuum tubes and photo cells and contributes in the production of special glasses and atomic clocks.
The assay results for Lithium and Rubidium are as follows:
Rubidium content of selected core samples with high Lithium
Hole No. Sample No. Geology ppm ppm
----------- --------------- ------------- -------------- ------------
5 Schist 1480.7 1010.3
SO - 03 - 3 7 PEGMATITE 7036.3 642.9
8 PEGMATITE 4774.5 788.5
10 Schist 2747.8 2258.2
11 PEGMATITE 9141 871.4
12 PEGMATITE 4426 1269.6
SO - 03 - 5 14 PEGMATITE 7189 1100.5
15 PEGMATITE 7127 729.8
28 Schist 1919.9 1880.7
31 Schist 1320.2 964.9
7 PEGMATITE 1452.4
16 Schist 1584 2586.1
SO - 03 - 6 24 PEGMATITE 8166 787.3
29 PEGMATITE 8202 912.0
31 Schist 1331 1086.8
8 Schist 1302 463.9
9 Schist 1809 1075.0
SO - 03 - 7 13 Schist 2047 990.6
17 PEGMATITE 4432 1467.4
23 PEGMATITE 5414 707.5
25 PEGMATITE 13,594 851.9
SO - 03 - 8 1 Schist 948 613.5
9 Schist 1186 515.9
The sample width of the dyke and host schist material was approximately one meter.
*PPM (parts per million) and Grams per tone (g/t) are the same.
During the second quarter of 2005, an additional delineation drill program of seven holes was carried out in the Presqueria area of the property. The Presqueria area hosts a 13 meter thick sill form pegmatite amenable to open pit extraction containing approximately one million tons. The average assays from eleven drill holes in 2003 and 2005 of the dyke material returned the following results:
Lithium - 3700 g/t with highs of over 10,000 g/t
Tantalum - 79 g/t with highs of 177 g/t
Rubidium - 704 g/t with highs of 1,000 g/t
Tin - 491 g/t with highs of 1,141 g/t
The sample width of the dyke and host schist material was approximately one meter over a 13 meter sill-form pegmatite dyke.
Assays of over 1000 g/t Lithium and 400 g/t Cesium are reported from the hanging wall/foot wall contact zone in the two-mica schist.
Management believes that these assay results from the two drill programs provide evidence of significant tonnages of mineralization and economic grades of the various metals. In particular, the results are considered significant for Lithium which is used in the battery market and other technological applications.
The Report recommends that the Company undertake a 34 hole drill program on the Alberta 1 (Doade-Presqueira) concession in the spring of 2010. The estimated cost of the drill program is $1 million Canadian. This drill program will be intended to further delineate the sill form pegmatite and the mineralized host schist and provide drill indicated grade and tonnage leading, subject to positive results of the program, to a bulk sampling program and a scoping study.
Certain statements contained in this press release, including statements which are related to exploration activity and future prospects and profitability and which may contain words such as "could", "should", "expect", "believe", "will" and similar expressions and statements relating to matters that are not historical facts are forward-looking statements. Such forward-looking statements involve known and unknown risks and uncertainties which may cause the actual results, performances and/or achievements of Solid to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Such factors include fluctuations in the market conditions and prices of tantalum, lithium, tin, silver and other metals and related products and services; competition; political and economic conditions in countries in which Solid does business; changes in laws and regulations, including environmental regulations, to which Solid is subject, and other factors which are described in further detail in Solid's filings with the Canadian Securities Regulators.
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 Solid Resources Ltd.
For further information: For further information: Mr. Garnet Harter, Tel: (780) 416-7525, firstname.lastname@example.org