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Press Releases
Lithium One Reports Additional Drill Results Including 33.5 Metres of 1.68% Li2O at the James Bay Lithium Project
VANCOUVER, CANADA--(Marketwire - Sept. 17, 2009) - Lithium One Inc (the "Company") (TSX VENTURE:LI), is pleased to announce diamond drill results from the newly discovered pegmatite dyke swarm #15, as well as the Company's first set of diamond saw channel sample results from the James Bay Lithium Project in Quebec. Pegmatite Swarm #15 is located 500 metres northwest of the nearest previously known surface pegmatite. Highlights of the results from the 10 drill holes reported include 33.5m of 1.68% Li2O, 23.0m of 1.72% Li2O and 3.4m of 3.46% Li2O (true widths). Geologist-supervised diamond saw channel samples from eight of the principal dykes yielded consistent grades, between 1.34% and 1.76% Li2O over true widths between 11 and 28.5 metres. Pegmatite drill intercepts greater than five metres are summarized in Table 1, and channel sample results are reported in Table 2.
Table 1. Phase 2 Drilling Results, September 1st to September 16th 2009
(Drill Intercepts greater than 5 metres, cut-off grade 0.8% Li2O)
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Hole # From To True Width Li2O (%)
(m)
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JBL09-43 5.40 44.33 33.5 1.68
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JBL09-47 84.90 134.40 23.0 1.72
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JBL09-45 41.48 77.00 30.3 1.21
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JBL09-44 49.83 73.12 21.2 1.27
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JBL09-42 89.26 113.22 17.2 1.42
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JBL09-48 19.42 36.47 14.2 1.56
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JBL09-50 36.55 52.57 14.1 1.48
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JBL09-49 28.77 40.77 8.5 1.80
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JBL09-46 80.08 92.08 7.2 1.99
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JBL09-46 131.97 146.47 8.7 1.53
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JBL09-46 50.82 56.48 3.4 3.46
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JBL09-47 47.95 59.85 5.5 1.59
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JBL09-42 119.10 126.70 5.5 1.26
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JBL09-51 88.94 94.36 3.7 1.35
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The results reported are from Pegmatite Swarm #15, a new spodumene occurrence not previously mapped or investigated. Swarm #15 is comprised of two dykes, with the larger dyke reaching more than 30 metres in thickness at the centre. It is ovoid in shape, 100 metres by 30 metres at the surface, extending to 200 metres of strike length in the subsurface as it rakes to the southwest at 55 to 60 degrees. The smaller dyke reaches a true thickness of five to six metres. This phase of drilling has tested approximately 70 to 80 metres of strike length. In addition, the Company's field team has identified geophysical anomalies that may be related to additional pegmatites beneath overburden.
Lithium One President and CEO, Patrick Highsmith, commented, "Our James Bay Lithium Deposit continues to impress us with thick near-surface intercepts of high grade lithium. Once we realized the significance of the newly discovered Dyke Swarm #15, we decided to move one of the drill rigs west to test it. These thick intercepts of more than 1.20% Li2O are the result. It is clear now that the pegmatites on the west end tend to be the thickest and richest so far on the property. The coarse spodumene crystals in this area can lead to spectacular accumulations of lithium, such as the 3.4 metre interval of 3.46% Li2O reported in hole 46. This is equivalent to more than 40% spodumene."
Drill holes are collared at as close to 50 metre spacing as field conditions allow, an interval judged necessary to optimize a resource calculation expected later in the program. Hole JBL09-42 was drilled at an azimuth of 340 o, while all other holes reported were drilled inclined at an azimuth of 160o. Dykes in Swarm #15 were found to dip more steeply than previously drilled dykes, as such all intercepts reported here have been converted to true width. Hence, these values are believed to be close to true width, but the true width may in some cases be less than reported here subject to further geological investigations.
Channel Samples
The Company also employed diamond saw channel samples in order to systematically evaluate the extensive surface exposures. A total of eight channels were cut under contract by Nord-Fort Inc, and sampled under supervision of the project manager. The channels were selected to best represent each of the dyke swarms currently being investigated by this Phase 2 program.
Table 2. Channel Sample Results
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Dyke Sampled Width (m) True Width (m) Li20 (%)
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CS-Dyke7.2 15.0 11.0 1.62
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CS-Dyke8.7 34.5 25.4 1.68
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CS-Dyke9.2 18.0 14.7 1.37
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CS-Dyke11 19.5 17.2 1.55
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CS-Dyke12 23.5 12.9 1.76
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CS-Dyke13 20.5 18.4 1.55
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CS-Dyke14 32.5 28.5 1.54
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CS-Dyke15 36.0 27.6 1.52
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Note: These channel samples are cut oblique to strike direction in order to sample across the direction of crystal growth, the channel lengths have been converted to true width for reporting here. Hence, these values are believed to be close to true width, but the true width may in some cases be less than reported here subject to further geological investigations.
This type of sampling collects a very high quality sample of continuous material. For that reason, diamond saw channel cuts are considered to be of comparable quality to drill core samples. This sample medium offers the opportunity for high quality surface samples to augment the subsurface drill samples and facilitate rigorous resource calculations.
The Company has approved an expansion of the drill program to 12,300 meters. Two core drills continue to be on track for completion of this phase of drilling during September. Management is considering a small winter drill program to fill in areas of the grid where steep outcrop or swampy conditions make for difficult access. More detailed tables of drill results, maps, cross-sections and photos of the project will be posted to the Company's website: www.lithium1.com.
Quality Control
The Company logs, collects, and cuts the drill core on site. Channel samples were cut, sampled and tagged by a contractor between the 10th and the 22nd August 2009 under the supervision of the project manager on site. Samples are sealed and shipped to TJCM (Table Jamesienne de Concertation Miniere) in Chibougamau for sample preparation. The prepared samples are then sent by courier to COREM in Quebec City for Li2O assay by multi-acid digestion and AA finish. COREM is a government-industry consortium of applied research for the treatment and processing of mineral substances, with a track record in lithium analysis and ore beneficiation. Certain of their laboratories are certified ISO 9001:2000 by BNQ and the analytical laboratory is certified ISO 17025:2005 for certain procedures. The laboratory employs quality control systems throughout that are compliant with ISO 9001 and ISO 17025 standards. The company is employing a rigorous quality assurance and quality control program, including the insertion of analytical control samples and field duplicates, as well as the tracking of replicate analyses and check assays from an independent laboratory. The SGS laboratory in Toronto is serving as a check lab, which is accredited by the Standards Council of Canada to ISO/IEG 17025: 2005.
The work program is under the supervision of Mr. A. James McCann, the Company's consulting exploration manager for Quebec. Mr. McCann is a licensed Professional Geologist in Quebec and a qualified person as defined by National Instrument 43-101. He has reviewed and approved the contents of this press release.
About Lithium
Lithium is a light, highly reactive metal with use in a variety of industrial applications including ceramics, lubricants and pharmaceuticals. The fastest growing market for lithium is as lithium carbonate for use in batteries, including those in cell phones, computers and new generations of electric and hybrid vehicles. Lithium from spodumene is in silicate form and following mining and production of a concentrate, requires processing to be converted to lithium carbonate. Technology for the conversion of spodumene ore to lithium carbonate has been in use for over 20 years.
About Lithium One:
Lithium One Inc is a well-financed explorer and developer of mineral properties with a specific focus on lithium. The Company now has two major lithium projects: the Sal de Vida lithium brine project in Argentina and the James Bay bulk tonnage spodumene project in Quebec. Lithium One believes that lithium demand will grow as its value and efficacy in "green energy" applications is fully realized. The Company's strategy is to build a portfolio of high quality lithium assets.
ON BEHALF OF THE BOARD OF DIRECTORS,
Patrick Highsmith, M.Sc. President and Chief Executive Officer
Forward Looking Statements
This document may contain "forward-looking information" within the meaning of Canadian securities legislation (hereinafter referred to as "forward-looking statements"). These forward-looking statements are made as of the date of this document and the Company does not intend, and does not assume any obligation, to update these forward-looking statements. Forward-looking statements relate to future events or future performance and reflect management's expectations or beliefs regarding future events. By their very nature forward- looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unsuccessful exploration results, changes in metals prices, changes in the availability of funding for mineral exploration, unanticipated changes in key management personnel and general economic conditions, title disputes as well as those factors detailed from time to time in the Company's 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. 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. Although the Company 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.
Neither the 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.
Robert Orr
604-697-6259
604-408-4799 (FAX)
ro@lithium1.com
www.lithium1.com |
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