GR.V
GREENLIGHT RESSOURCES
As promised, I finished my DD on this strong company. This stock is very undervalued at the moment considering their book value. It is valued at around 2.5M when in reality this is worth anywhere between 15M & 20M on 27millions shares in the float. They have lined up a massive land package in multiple areas and are focusing on the niche market of GRAPHITE but they also have GOLD, Silver, Lithium and RARE EARTH projects. Some articles I have read are suggesting that graphite will be the resource to look at in 2012. They have been very diligent in updating the investors community and could be having some interesting news down the pipeline. We are setting a very conservative short term target of 0.70$.
Here are some details…
About GreenLight Resources Inc.
GreenLight Resources is a Canadian company trading on the TSX Venture Exchange GR.v. GreenLight is focusing its exploration efforts in Atlantic Canada, which is a sovereign risk free, resource rich domain. The company is aggressively advancing several projects addressing commodities such as Lithium, Graphite, Manganese, REE's, Rare metals and Precious metals.
Silver and base metals -Keymet
Greenlight acquired a 100% interest in the Keymet property located 24 kilometres NNW of Bathurst, New Brunswick. The property covers 6,400 acres and is named after a small past producing mine located on the property which produced a total of 56,000 tons @ 0.25% Cu, 2.44% Pb, 2.59% Zn and 0.99 opt Ag between 1954 and 1956. a shaft was sunk to the 366 meter level with drifts established on the 45, 91, and 137 meter levels. Production ceased in 1956 when a fire destroyed the mine buildings. Based on historic geophysical and geochemical data, there is good evidence that a series of three and possibly four, parallel vein systems occur on the property. Exploration planned for the Keymet claim group will include re-establishment of the geochemical/geophysical grids and locating the historic anomalies on the ground. Confirmation of the soil anomalies with follow up trenching, has identified several drill targets. The plan for these targets is to drill them in Q4 2011.
Lithium and Rare Metals Project -Brazil Lake
One of the company's focuses is the 8,520 acre Brazil Lake property, located approximately 30 kilometres north of Yarmouth, Nova Scotia. 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. Exploration over the summer has identified several other pegmatite dikes. These dikes will be drilled in Q2 2012
Gold Project -Kemptville
The Company acquired a 5,080 acre high grade gold prospect located in one of Nova Scotia's historic gold mining districts. High grade gold was discovered on the property over 100 years ago and was produced primarily in the late 1800's from two underground mines, the Kempt and the Cowan. A recent IP survey conducted by Greenlight identified several anomalies which have been targeted for drilling. This was followed by an SGH (soil-gas-hydrocarbons) soil sampling survey carried out in order to discriminate between potentially auriferous and non auriferous IP highs and to identify the source area of the gold in till anomalies. A diamond drill program recently completed 8 holes and 2,068 meters as of April 26, 2011. Targets include coincident anomalies from the Company's recent IP survey and SGH soil sampling survey, which have been integrated into a 3D model utilized to identify the locations. These locations are planned for a drill program in Q1 2012.
Rare Earth Element Project -Porcupine
The Company acquired a 100% undivided interest in the Porcupine-Upper Miramichi Rare Earth Property in New Brunswick. The primary target is the various rare earth elements (REE) that were discovered in soil samples on the property in 2007. Soil assays for REE's include Samarium (Sm), were reported with grades of up to 218 ppm (g/t) and Dysprosium (Dy) with grades of up to 98.6 ppm (g/t), Neodymium (Nd) with grades of up to 1190 ppm (g/t), Ytterbium (Yb) with grades of up to 31.3 ppm (g/t) and Yttrium (Y) with grades of up to 472 ppm (g/t). Reported assays for Heavy REE's include Terbium (Tb) with grades up to 20.3 ppm (g/t) and Ytterbium (Yb) with grades up to 31.3 ppm (g/t) while reported light rare earth metals include Cerium (Ce) with grades up to 459 ppm (g/t) and Lanthanum (La) with grades up to 1,300 ppm (g/t). The Company is currenlty conducting an initial mapping and prospecting program over the property.
Golden Grove Graphite deposit -Saint John
The 100 % owned Golden Grove Graphite deposit is located 24 kilometres northeast of Saint John, NB. The Deposit has been known since the mid 1930's and has assayed up to 31.74% graphite. Previous drilling blocked out approximately 25,000 tons of 22.37% graphitic carbon but no work has been carried out on the property since 1987. Graphite is a conductive, chemically inert mineral that is a key component to almost all batteries, fuel cells, brake pads, and is also a critical component in both the metallurgical and electrical industries. Graphite is similar to rare earths minerals in that they are largely monopolized by China. Current and planned production of high quality graphite is only a small fraction of the projected requirements of the battery and automotive industries. This suggests that the price of high quality graphite will at least maintain its current price of approximately $2,400 per tonne, and possibly approach that of synthetic graphite which currently sells for in excess of $19,000 per tonne.
Manganese Project -Tomahawk
The Tomahawk Ridge manganese prospect, covering 52 claims over 2,080 acres in NE New Brunswick, was discovered in 1976 and Noranda subsequently acquired the project in 1979 but no further work was conducted. Greenlight recently acquired 100% interest in the project and a program including trenching and evntual drilling is in the early planning stages. 9.67% Mn, 9.33% Fe
Do your DD
THE GURU