next big Lithium play NMX
I have pasted the news below for your review. As you will notice thePresident mentions that a 43-101 will be ready by the end of the month.
If you compare this stock to CLQ-V i'm sure you'll be surprised at howcheap NMX is trading at. NMX's average grade is now over 1.4% withlonger lengths.
Cheers
Nemaska drills 75.6 metres of 1.94% Li2O at Whabouchi
Ticker Symbol: C:NMX
Nemaska drills 75.6 metres of 1.94% Li2O at Whabouchi
Nemaska Exploration Inc (C:NMX)
Shares Issued 43,274,706
Last Close 5/3/2010
.40
Monday May 03 2010 - News Release
Mr. Guy Bourassa reports
NEMASKA REPORTS 75.6 M AT 1.94% LI2O AND 173 PPM BE AND 100.8 M AT 1.43%LI2O AND 150 PPM BE FROM ITS LITHIUM/BERYLLIUM PROJECT (WHABOUCHI) ANDSTARTS RESOURCE CALCULATION
Nemaska Exploration Inc. has confirmed the completion of its diamonddrilling campaign started January 15, 2010 on its 100% ownedLithium/Beryllium Whabouchi project. A total of 59 holes (11,830 m) weredrilled this winter, covering 1,250 m along strike of spodumene bearingpegmatite mineralized zones. Additional results from this campaigninclude: 99.05 m at 1.35 % Li2O, 75.6 m at 1.94 % Li2O, 43.15 m at 1.78%Li2O, 51.2 m at 1.51% Li2O and 100.8 m at 1.43% Li2O. To date 66 holeshave been drilled, 59 of which have been announced and the balance of 7holes is expected by May 10, 2010.
"With our drilling complete we are moving forward with the resourceestimate, which we expect to be available around May 31st, 2010,"commented Mr. Guy Bourassa, President and CEO. "Our team has rapidlyadvanced this project through a focused effort. When you consider it wasonly an historical showing back in October 2009, they have done aremarkable job in a very short period of time. Since last October, wehave drilled 12,745 m (66 holes), trenched 710 m and channel sampled295.6 m."
The drill results to date confirm that the main zone runs from section1+50 to the section 12+00 with an approximate average grade of 1.50%Li2O. The main zone has a width of 10 to 20 m from section 1+50 to 3+00and becomes wider and reaches 80 m on section 4+75 and back to 10 m to20 m at section 12+00. The average width of the main zone is 65 m. Four(4) other spodumene bearing pegmatite zones with variable widthsreaching up to 27 m, have been identified within 10 to 50 meters southof the main zone. All zones remain open at depth and to the East. Anupdated map and photo showing the location of the drill sections can beaccessed on-line.
INTERSECTIONS EQUAL OR GREATER THAN 5 M FROM THE MOST RECENT 15 HOLES
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CoreTrue
From To lengthwidths
Section Hole (m) (m) (m) (m) Li2O % Be ppm Rbppm
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5+25 E WHA-10-31 93.4 100.5 7.1 6.7 1.22 862838
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5+25 E WHA-10-31 124 199.6 75.6 63.6 1.94 1731160
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5+25 E WHA-10-33 14 22 8.0 7.2 1.98 1751850
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5+25 E WHA-10-33 37.8 124.8 87 75.3 1.33 130977
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6+25 E WHA-10-34 178.4 185.2 6.8 5.5 1.66 1721346
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6+25 E WHA-10-34 193.3 258.4 65.1 52.6 1.22 111983
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8+00 E WHA-10-42 1.7 9 7.3 6.2 2.27 1581238
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8+00 E WHA-10-42 37.4 51.2 13.8 11.1 1.99 1411133
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8+00 E WHA-10-42 55.2 70.2 15.0 12.8 1.60 1601260
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3+00 E WHA-10-49 1.4 64 62.6 58.60 1.02 1181294
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3+00 E Including 1.4 16.2 14.8 13.90 1.53 153995
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3+00 E Including 28.8 38 9.2 8.60 1.17 981389
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3+00 E Including 46 64 18 16.90 1.42 1831494
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3+00 E WHA-10-50 22.8 29.8 7 6.6 1.48 1431614
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3+00 E WHA-10-50 91 103 12 11.3 1.99 1581417
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4+00 E WHA-10-51 108.1 169 60.9 50.5 1.24 1221138
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4+00 E Including 108.1 133.4 25.3 21 1.93 1501753
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4+00 E Including 151.7 169 17.3 14.4 1.44 2111061
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2+00 E WHA-10-52 60 66 6 5.6 1.87 1171567
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2+25 E WHA-10-52 145.3 160 14.7 13.8 2.06 1661069
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2+00 E WHA-10-53 23.2 58 34.8 27.1 1.69 134978
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2+00 E Including 23.2 47 23.8 18.6 2.01 1451064
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2+00 E WHA-10-53 52 58 6 4.7 1.58 150750
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2+25 E WHA-10-54 33.3 84.5 51.2 42.7 1.51 1561088
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2+25 E Including 33.3 69.5 36.2 30 1.90 1551094
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2+25 E Including 77.35 84.5 7.15 5.9 1.00 2001125
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2+75 E WHA-10-55 31.7 53.5 21.8 18.2 1.81 1871415
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3+25 E WHA-10-56 29.3 72.45 43.15 37.5 1.78 2021132
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3+75 E WHA-10-57 22.9 50.7 27.8 23.1 1.63 1781352
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3+75 E WHA-10-57 78.9 92 13.1 10.9 1.30 185934
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3+75 E WHA-10-57 121.7 128.5 6.8 5.6 2.14 171512
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4+25 E WHA-10-58 22.95 122 99.05 84.8 1.35 1311046
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4+25 E Including 22.95 49.55 26.6 22.9 1.91 1621391
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4+25 E Including 64.1 98.75 34.65 29.8 1.74 1921424
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4+25 E Including 107.7 122 14.3 12.3 1.47 1421067
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4+90 E WHA-10-59 3.6 10.2 6.6 5.7 1.78 831450
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4+90 E WHA-10-59 26.9 127.7 100.8 88 1.43 1501122
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4+90 E Including 26.9 32.5 5.6 4.9 1.96 2001316
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4+90 E Including 41.2 75.95 34.75 30.2 1.94 1521374
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4+90 E Including 77.45 127.7 50.25 43.7 1.28 1741125
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The Company has reported the intersections lengths as well as the bestestimates of the true widths given the current understanding of thegeology. The drill holes were done at an average azimuth of 330 degreesand a dip of 50 degrees. The pegmatite bands have generally an azimuthof 060 degrees and a South-East dip of 70 degrees to 80 degrees.
The samples have been shipped for preparation (crushing andpulverization) to the Table Jamesienne de Concertation Miniere (TJCM)lab in Chibougamau. The prepared samples are then sent by courier to theToronto laboratory of SGS Mineral Services, Ontario, for lithium,beryllium and rubidium analysis by sodium peroxide fusion method. Thislaboratory is recognized by industry and accredited ISO/MEC 17025: 2005by the Canadian Council of standards. Nemaska Exploration implements arigorous quality control protocol to its operations, including theinsertion of analytical control samples, duplicates and blanks andfollow-up on the results of these assays.
The technical sections of this press release have been prepared by YvanBussieres, P. Eng and reviewed by Claude Britt, Geo. qualified personsas defined in National instrument 43-101.
? 2010 Canjex Publishing Ltd.