 |
|
|
Thunderbay, Ontario
The Forgan Lake Project is composed 16 contiguous claim units located east of Forgan Lake within the Thunder Bay District of Ontario. It includes four previously drilled spodumene-bearing pegmatites. The pegmatites are part of the Georgia Lake pegmatite field, an area of considerable lithium and rare-earth element (REE) exploration since it's discovery in the mid-1950's.
The Forgan Lake pegmatites were discovered during a lithium staking rush active within the Georgia Lake pegmatite field in the mid-1950's. Six pegmatites were identified, four of which, the No.1, No. 2, No. 3 and No. 4 Deposits, are within TNR Gold Corp claim block. In 1955, Lun-Echo Gold Mines Limited carried out a 39-hole diamond drill program in the area of which 33 lie within the TNR Forgan Lake Property. Pegmatite is a coarse-grained igneous rock that typically hosts economic presence of lithium amongst valuable rare earth elements such as topaz, beryllium, potassium, uranium, and more.
The No. 1 Deposit has been traced on surface for about 274.3 m at an average width of 9.1 m. It contains 30% medium to coarse-grained spodumene and sporadic black columbite ((Fe, Mn)2(Nb,Ta)2O6) crystals up to 3.8 cm long. Channel samples to note include: three samples averaging 2.57% Li2O over a width of 6.4m; two samples, 24.4 m southwest of the first three, averaged 4.23% Li2O over 7.5 m; and two samples 68.6 m farther southwest averaging 1.98% Li2O over 7.6 m.
Similar in composition to the No.1 is the No. 2 Deposit. This pegmatite has been traced in outcrop for 45.7 m with an exposed width of 13.7 m.
Northwest of the No. 1 Deposit is the No. 3 Deposit. The No. 3 has been traced from Lucky Lake, a small body of water in the northeastern corner of the property, southwest for 320.0 m with an averaged exposed width of 6.1 m. The pegmatite contains approximately 25% spodumene. Lun-Echo bored 10 diamond drill holes, totaling 832.1 m, at intervals of 30.5 to 61.0 m. The best intersection contained a 1.52 m section averaging 1.78% Li2O.
The No. 4 Deposit has been traced on surface for approximately 243.8 m with an average surface width of 4.6 m. The pegmatite contains 10-15% fine to medium-grained spodumene.
In addition to historic drill confirmations, all identified pegmatites have not been delineated at Forgan Lake and thus the full extents of the deposits remain open.
Furthermore, the potential for other REE anomalies remains promising, as historic work by Lun-Echo Gold Mines Ltd analyzed drill core exclusively for Li2O. Columbite noted in at least two of the four pegmatites on the Forgan Lake property is further indication that an assessment of REE occurrences could significantly increase the value of the Forgan Lake Property.
TNR Gold Corp staked the acquired the Forgan Lake Property with the intent to further define the known lithium deposits, explore for additional lithium-bearing pegmatites and potential add further value to the property through additional REE potentials. The company believes with the increasing prominence of lithium, TNR will be strategically positioned to maximize shareholder value and be at the forefront on the search for a green energy alternative.
|
|
|
|
)
