(PRZCF.OTCBB)
(TSXV.GR)
VANCOUVER,
March 24 /PRNewswire/ - GREENLIGHT
RESOURCES INC. (TSXV: GR), announces results from a SGH
(soil-gas-hydrocarbons) soil sampling survey on its Kemptville high grade gold prospect in Nova
Scotia. The gold property, located north of the village of
Kemptville, encompasses one of
Nova Scotia's historic gold mining
districts, and is less than a 20 minute drive along a paved highway
from the Company's Brazil Lake
Lithium and rare metal property.
Over the winter of 2010-2011 on the Kemptville high grade gold prospect, a total
of 267 soil samples were taken at 50 meter intervals on lines
spaced 100 meters apart using protocols established by Activation
Labs based in Aurora Ontario. The survey area covered the
historic gold workings and surrounding areas. Exploration work
carried out by Green Light Resources and prior operators on the
property had identified extensive gold grain in till dispersion
trains emanating from sources removed from the old gold workings.
These till anomalies are related to deep penetrating IP
chargeability highs that underlie the district. Six north west
trending SGH anomalies occur on the grid which are thought to be
indicative of cross cutting gold bearing features. Several of
these apical anomalies are coincident with the IP anomalies and are
targeted for diamond drilling in the upcoming phase of
exploration.
Based on the strong correlation of the IP Survey
and SGH soil sample analysis at Kemptville, the Company took 63 trial samples
over the North dike at Brazil Lake
to obtain an SGH signature for the lithium bearing pegmatites. This
technique could then be used to search for additional dikes on the
8,520 acre property. Pegmatite dikes cannot be identified with
magnetic surveys nor with IP surveys. Based on the template
developed over the established North dike; an additional 435
samples were taken on 50 metre intervals on lines
spaced 100 metres apart. Activation Labs have processed the
samples and their analysis has identified a series of five, linked
nested- halo SGH anomalies which are immediately up-ice from
spodumene bearing glacial till and directly overlay Li+Rb+Ta "B"
horizon soil anomalies.
The SGH technique has deep penetration capability
(up to 290 metres for Au deposits and 520 metres for U deposits
below surface). The hydrocarbon signatures are directly linked to
the deposit type which is used as a food source for the microbes.
The microbial communities which thrive in the presence of
mineralization release their hydrocarbon signature upon death. The
hydrocarbons plume upwards by vertical mass transport forming
reduced zones above the mineralization which are characterized by
depleted zones in the central area and enriched flanks. These Redox
cells are indicative of the underlying mineralization forming
rabbit ear or nested-halo type anomalies. Activation Labs have
reported on the Brazil Lake survey
and indicate that the anomalies evident have a confidence level of
5 on a scale of 6. This rating compares the Brazil Lake results with results obtained in a
SGH test survey over a lithium deposit in northwestern Ontario. Based on the results of the SGH
survey and the surveys correlation with both soil and glacial till
anomalies, it is felt that excellent drill targets have been
identified on the claims which will be tested in the upcoming phase
of exploration at Brazil Lake.
About GreenLight Resources Inc.:
Lithium and Rare Metals Project
GreenLight Resources Inc. is a Canadian exploration
company focused on the discovery and development of Lithium and
rare metal deposits. The Company is currently focused on the 8,520
acre Brazil Lake property is
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.
Rare Earth Element Project
In February 2011, the
Company executed a definitive agreement to earn up to 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), with 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).
Gold Project - Kemptville
On November 5, 2010,
the Company announced a letter of intent to acquire a high grade
gold prospect located in one of Nova
Scotia's historic gold mining districts. The Property
is comprised of 127 claims (40 acres each) for a total of 5,080
acres. 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. Modern
exploration techniques were used to identify a target area
between the two former producers featuring numerous high grade
angular float boulders, several of which have assayed over 300 g/t
(grams per tonne) (about 9 ounces/ton) Au. Recent bulk till
sampling over an area approximately three square kilometres has
identified a very large "gold in till" anomaly measuring
approximately 800 meters in width and extending 2,000 meters down
ice. It is centered in an area between the two former mines,
coincident with the area of high grade float. The analysis
revealed gold grain counts up to about 1,000 grains in a standard
10 kilogram basal till sample. Analysis of the morphology of
the gold grains indicates that they have travelled only about 100
meters from source. This technique played an important part
in identifying some of the zones in the very large Rainey River gold property in Ontario. However, float samples are selective
by nature and are unlikely to represent average grades on the
property. Plans are underway to commence an IP Survey over
the property to assist in identifying drill targets.
Patrick Forseille,
P. Geo., a Qualified Person as defined by NI 43-101 is responsible
for the technical information contained in this release.
On Behalf of the board of directors
"Ron Bourgeois"
Ron Bourgeois,
President
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-looking statements relating to future
events or future performance and reflecting Green Light Resources
management's expectations or beliefs regarding future events
include, but are not limited to, statements with respect to
completion of the private placement and related matters. In certain
cases, forward-looking statements can be identified by the use of
words such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes",
or variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved" or the negative of these
terms or comparable terminology. By nature, forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or
achievements of Green Light Resources to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements. Such factors include,
among others, risks related to actual results of current
exploration activities; changes in project parameters as plans
continue to be refined; future prices of resources; possible
variations in ore reserves, grade or recovery rates; accidents,
labour disputes and other risks of the mining industry; delays in
obtaining governmental approvals or financing or in the completion
of development or construction activities; as well as those factors
detailed from time to time in Green Light Resources interim and
annual financial statements and management's discussion and
analysis of those statements, all of which are filed and available
for review on SEDAR at www.sedar.com. Although Green Light
Resources has attempted to identify important factors that could
cause actual actions, events or results to differ materially from
those described in forward-looking statements, there may be other
factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward looking statements.
SOURCE Greenlight Resources Inc.
