The Company also wishes to clarify that an aggregate of 1,000,000 Shares will be payable by the Company to the Vendors in accordance with the terms of the Option Agreement. The Option Agreement remains subject to the final approval of the
Abiwin Property Highlights: Preliminary prospecting resulted in the discovery of 29 pegmatite dykes
Muscovite geochemistry in these pegmatites indicates a highly fractionated signature
LIBSi analyses return up to 6,700 ppm rubidium (Rb) and a K/Rb 13 (potassium/rubidium ratios); indicative of spodumene-subtype pegmatites
Extends strike length of the White Willow LCT pegmatite field to 44 kilometres
Adds additional target pegmatites to the existing 10 targets identified for Usha's planned maiden drill program
Hosts ultramafic '
The Abiwin mining claims are geologically similar to the White Willow property and situated along trend from the Maple Leaf pegmatite, as well as the corridor of fractionated pegmatite identified on the White Willow property. Preliminary mapping on the Abiwin claims documented 29 pegmatites dykes, and LIBS analyses of muscovite from these dykes returned up to 6,700 ppm Rb, 527 ppm Sn, and K/Rb ratios as low as 13, indicating a high degree of fractionation in the pegmatitesii. K/Rb is a key tool in identifying potentially spodumene-bearing dykes. Values below 30 are indicative of rare-earth pegmatites, 20 of spodumene-subtype pegmatites, and those below 10 are often associated with economic spodumene pegmatites.
The fractionated pegmatites of the Abiwin claims are 44 kilometres from the western-most rare-element pegmatites identified to date on the White Willow property, (the Bingo pegmatite swarm) and extend the already immense strike length of the pegmatite field. (Fig. 1). The Abiwin claims are accessible via
The Abiwin claims are also host to the ultramafic 'Quetico Intrusions', which are the target of Ni-Cu-PGE exploration efforts on Rio Tinto's adjacent JR property (Fig. 1). Historic grab samples from these intrusions on the Abiwin claims are reported to return up to 33 g/t Pt+Pd, 3% Cu and historic surface trenching yielded chip strings of up to 0.72% Zn over 2m (Puumula, 1992). The company intends to prioritize expenditures on the exploration for spodumene-bearing pegmatites, however the claims remain highly prospective for base and precious metal mineralization.
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Forward-looking statements
This news release may include 'forward-looking information' under applicable Canadian securities legislation. Such forward-looking information reflects management's current beliefs and are based on a number of estimates and/or assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Readers are cautioned that such forward-looking information are neither promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry.
The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.
A LIBS analyzer is a portable device that provides semi-quantitative assessments of geochemical concentrations in real-time. These readings should not be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. LIBS readings are not representative of the whole core and represent purely a concentration measured at a single point.
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