Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Bullboard - Stock Discussion Forum Linear Metals Corporation T.LRM

"Sona Nanotech Inc is engaged in researching and developing gold nanorod products. It makes products for diagnostic test and medical treatment applications. The company's product includes Gemini and Omni."

TSX:LRM - Post Discussion

Linear Metals Corporation > News! LRM drills 24.6m of REE
View:
Post by drox2000 on Dec 01, 2009 11:05am

News! LRM drills 24.6m of REE


Linear Metals drills 24.6 m of 1.6 LiO2 at Seymour Lake

2009-12-01 10:41 ET - News Release

Mr. Brian MacEachen reports

NEW HIGH GRADE DRILL RESULTS ANNOUNCED FROM LINEAR METALS' SEYMOUR LAKE LITHIUM-TANTALUM-BERYLLIUM PROJECT

Linear Metals Corp. has released initial diamond drill results from its100-per-cent-owned, Seymour Lake lithium/tantalum/beryllium project,located to the north of Lake Nipigon, near Armstrong, in NorthwesternOntario. The project has recently been reactivated in response torising demand for elements such as lithium, tantalum and beryllium.

Highlights

The results of the first three drill holes of the 20-hole, 2,362-metre drill program completed during the fall of 2009 include:

  • SL-09-33: 24.65 metres of 1.669 per cent Li2O and 0.046 per cent BeO, including:
    • 7.22 metres of 2.877 per cent Li2O;
    • 8.00 metres of 1.948 per cent Li2O;
  • SL-09-34: 6.00 metres of 0.867 per cent Li2O and 2.54 metres of 0.064 per cent BeO;
  • SL-09-46: 8.67 metres of 1.015 per cent Li2O and 5.45 metres of 0.105 per cent BeO.

Thesethree drill holes, all located within or near the North Aubry Zone,have demonstrated significant increases in the thickness and/or widthof the mineralized pegmatite sill(s), at or near-surface and furthersupport a geological model comprised of multiple stacked pegmatitehorizons. Importantly, SL-09-33 represents the thickest and one of thehighest grade lithium-pegmatite intersections drilled to date on theproperty, while the locations of SL-09-34 and SL-09-46 have nearlytripled the previously known down-dip extent of the Main Horizon sill,from approximately 100 metres to approximately 275 metres. SL-09-46also demonstrates that there can be significant positive fluctuationsin the thickness of the Main Horizon sill along its down-dip extent.Furthermore, all holes intersected significant beryllium-bearing zones,increasing the potential for by-product credits.

A map of all drill hole locations is available on the Linear Metals website. All holes were drilled vertically.

Summary of results

Hole SL-09-33 was designed to complete the intersection of theMain Horizon previously, but only partially, tested by SL-02-08, whichwas lost at 30 metres, after coring through pegmatite from 13.6 metresdepth, and returning 16.4 metres of 0.830 per cent Li2O. SL-09-33 wasalso designed to test for extensions of the Lower and Deep Horizons inthe pegmatite system, but found that the Main and Lower Horizons aremerged into one thicker composite sill, creating an overall body withtwo spodumene-enriched "core" zones of 7.22 metres of 2.877 per centLi2O and 8.00 metres of 1.948 per cent Li2O, as shown in the tablebelow. Overall, the composite zones returned 26.13 metres of 1.584 percent Li2O, 0.403 per cent Rb2O(2) and 0.046 per cent BeO over theentire width of the pegmatite, a significant increase over the previouslithium grade and width in SL-02-08.

The hole also intersected the Deep Horizon from 90.2 to 93.5metres, and an additional new but narrow pegmatite from 105.3 to 106.4metres. The Deep Horizon returned 0.936 per cent Li2O, 0.063 per centBeO and 0.038 per cent Ta2O5(1) over its width of 3.3 metres, while thenew horizon, possibly a feeder dyke, based on steeper core angles,returned 1.176 per cent Li2O and 0.070 per cent BeO over 1.1 metres.These deep intersections further support a geological model of multiplestacked horizons in the pegmatite system. These horizons may extendfurther to the west, where very little drilling has been completed todate.

SL-09-33 has further demonstrated that lithium mineralizationof superior grade occurs at or near surface in the North Aubry zone,and adds to the excellent lithium mineralization intersected in the2002 drilling program.

Hole SL-09-34 was a significant step-out hole, locatedapproximately 175 metres east of any previous drilling on Section9925N, and tested one of the many Enzyme Leach lithium soil anomalieson the property. Drill hole mineralization had previously been testedover a down-dip width of approximately 100 metres. The hole intersectedthe Main Horizon from 86.3 to 97.5 metres downhole, returning amoderate composite grade of 0.550 per cent Li2O and 0.479 per cent Rb2Oover 11.2 metres, including 6.0 metres at 0.867 per cent Li2O in thecentral part of the pegmatite sill. Additionally, significant berylliumvalues were intersected at the bottom contact, returning 0.064 per centBeO over the basal 2.54 metres of the sill. The hole was shutdown at164 metres without intersecting the Lower or Deep Horizons, whichunless occurring at greater depths, may be limited to the western partof the North Aubry Zone.

Hole SL-09-46 was collared 105 metres to the east of previousholes on Section 9950N, on the southern extension of the same lithiumin soil anomaly as SL-09-34, intersecting a thicker interval ofpegmatite, likely composed of merged Main and Lower Horizons, similarto SL-09-33 (again, based on its similar internal double zonation).Overall, this returned a moderate but significant grade of 0.710 percent Li2O and 0.302 per cent Rb2O over 17.6 metres, including 1.015 percent Li2O over 8.7 metres in the Lower Horizon subzone, with a verystrong basal contact zone of beryllium mineralization that runs 0.105per cent BeO over 5.45 metres. The hole was shutdown at 150 metreswithout intersecting the Deep Horizon.

SL-09-34 and SL-09-46 have established significant lateralcontinuity to the North Aubry, on the Main Horizon, in the easterlydown-dip direction, and still at relatively shallow depths. Althoughthe lithium grades may be decreasing towards the east (as predicted bypegmatite fractionation models), other zones of significantmineralization, such as BeO, may be developing, especially as seen inSL-09-46. This is also predicted by pegmatite fractionation modelswhere elements such as Ta and Be may be concentrated in pegmatite zones"inboard" (i.e. towards the parental felsic intrusion) of the lithiumzone.

       NORTH AUBREY ZONE -- INITIAL 2009 DRILL RESULTS

Hole Horizon From To Width Li2O(%)

SL-09-33 Main/Lower 14.40 40.53 26.13 1.584
incl. 15.88 40.53 24.65 1.669
incl. 15.88 23.10 7.22 2.877
incl. 31.00 39.00 8.00 1.948
and Deep 90.2 93.5 3.3 0.936
and Dyke 105.3 106.4 1.1 1.176

SL-09-34 Main 86.32 97.54 11.22 0.550
incl. 91.00 97.00 6.00 0.867

SL-09-46 Main/Lower 60.82 78.45 17.63 0.710
incl. 68.33 77.00 8.67 1.015

(1) BeO and Ta2O5 values greater than approximately 0.04 per cent are
assumed to be recoverable based on comparison to metal oxide grades
in known rare metal deposits such as Tanco's Bernic Lake mine or
Talison Minerals' Greenbushes mine, but are not supported by specific
metallurgical testing on samples from the Aubry Zones. These values
are currently shown in the text of the press release for reference
only, to indicate potentially recoverable byproduct credits in an
eventual development scenario.
(2) Rb2O values are reported in the text of the release for reference
purposes only, because as note (1) above, no metallurgical work has
been undertaken to quantify what ultimately may be recoverable
values of rubidium, or any other potential by-product credits such
as gallium.

Other Mineralization and Location Infrastructure

Significantly, beyond lithium (Li), rubidium (Rb) and beryllium(Be), all three holes also show significant bulk-enrichment of tin(Sn), gallium (Ga), niobium (Nb), tantalum (Ta), cesium (Cs), andthallium (Tl), indicating potential for the pegmatites to hostpotentially high grade zones of these elements, such as the previouslyreported high-grade tantalum-beryllium zone roughly defined bySL-02-15, -28, and -31 (during the 2002 program, samples were onlyassayed for Li, Ta, Nb, Be, Rb, and Cs). In holes SL-09-33, SL-09-34,and SL-09-46, although individual samples returned Ta2O5 values as muchas 0.050 per cent and 0.098 per cent, no significant zones ofsubstantial thickness were delineated.

Pegmatite experts who have previously visited the propertysuggest that tightly-spaced drilling and/or bulk sampling will berequired to establish true beryllium and tantalum grades given theoften "nuggety" nature of large beryl and especially tantalitecrystals. Hole A-8, for example, drilled by Anaconda in 1957, andlocated at roughly the same collar location as SL-09-33, returned areported 0.35 per cent BeO over 17.22 metres, while hole A-1, locatedapproximately 15 metres south of DL-09-33, returned a reported 0.51 percent BeO over 16.15 metres. Conversely, Li2O grades in these olderholes are actually fairly similar to the recent drill holes (1.57 percent and 1.34 per cent respectively).

The Seymour Lake Project benefits from excellent location andinfrastructure. The project is located 40 kilometres east of Armstrong,Ontario, accessible by an all-weather logging road, and only 10kilometres by road from the main CN rail line at Ferland Station, wherethere are several rail sidings. Approximately nine kilometres to theeast of the Aubrey zones, Ontario Hydro is currently developing itsLittle Jackfish River hydroelectric development project, scheduled forcompletion in late 2013 or early 2014.

The initial 2009 drill results indicate there are open,sizeable, stacked and high-grade lithium (and beryllium) zones at theNorth Aubry showing. Furthermore, the positive drill testing of a smallportion of the 2008 Enzyme Leach soil anomalies indicates there isexcellent potential for additional pegmatites to be discovered on theSeymour Lake property.

Brian MacEachen, Linear Metals President & CEO, states,"The additional high grade lithium intervals identified in the currentdrill program, as well as the large size potential indicated by thestep-out drilling, is very encouraging for the advancement of theSeymour Lake project. We are also pleased to see the development ofmineralized zones of additional by-product elements such as beryllium,which significantly enhances the contained mineral value of the lithiumzones."

Analyses for lithium and all other elements were carried out onsawed half core at Activation Laboratories, in Ancaster, Ontario.Samples are crushed to 90 per cent passing 2 mm, digested using sodiumperoxide fusion, and followed by ICP or ICP-MS analysis, which forlithium has a 3 ppm lower detection limit Standard QA/QC techniques,including the submission of company blanks, duplicates, and "ore-grade"lithium-tantalum-beryllium standards, are used to monitor theanalytical results.

This news release was prepared under the supervision of MatthewIan Rees, P.Geo., VP Exploration for Linear Metals, who is a QualifiedPerson as defined under National Instrument 43-101. Mr. Rees hasreviewed the scientific and technical information in this pressrelease.


Be the first to comment on this post
The Market Update
{{currentVideo.title}} {{currentVideo.relativeTime}}
< Previous bulletin
Next bulletin >

At the Bell logo
A daily snapshot of everything
from market open to close.

{{currentVideo.companyName}}
{{currentVideo.intervieweeName}}{{currentVideo.intervieweeTitle}}
< Previous
Next >
Dealroom for high-potential pre-IPO opportunities