(PRZCF.OTCBB)
(TSXV.GR)
VANCOUVER, April 5 /PRNewswire/ - GREENLIGHT RESOURCES
INC. (TSXV: GR) is pleased to announce it has signed a
drilling agreement with Maritime Diamond Drilling Ltd. of
Brookfield, Nova Scotia. A
diamond drill program on GreenLight's Kemptville gold property in Nova Scotia, has now commenced. The
program consists of approximately 2,500 meters of cored drilling in
nine holes. Targets to be tested include coincident anomalies
from the Company's recent IP survey and SGH (soil-gas-hydrocarbons)
soil sampling survey, which have been integrated into a 3D model
utilized to identify the locations.
The first hole has been completed and drilling
has commenced on the second hole. 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.
About GreenLight Resources Inc.:
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. 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.
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 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
On October 15th
2010, the Company announced the signing of a letter of intent 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), 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).
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.
