First Lithium Reports Drill and Assay Results From Its Mollie River Project, Timmins Area
02 März 2011 - 10:34PM
Marketwired
First Lithium Resources Inc. (TSX VENTURE: MCI)(PINK SHEETS:
FLNTF)(FRANKFURT: MHN) (the "Company") is pleased to announce that
it has completed a approx. 2000 m 10 drill hole program that tested
geophysical anomalies on 2 of its 3 Mollie River claims, approx. 4
km east of Trelawney's Chester Township gold deposits.
DDH MR-10-10 intersected a 9 m zone between 185 m and the bottom
of the hole at 194 m with a range in gold values from less than 5
ppb to 1830 ppb (1.8 g/t Au) including single sample analyses of
346 ppb and 96 ppb. This zone is encapsulated by a broader zone of
elevated copper with a range in concentration of 92 ppm to 1510 ppm
(0.15% Cu). Mineralization is present as 1 mm blebs, wisps and
fracture fillings of pyrrhotite, chalcopyrite and pyrite hosted by
chloritic and silicified gabbro.
It is the Company's interpretation that this gold-mineralized
zone was not truncated by DDH MR-10-10 and as such, is open at
depth. The association of gold mineralization in altered mafic to
intermediate intrusions is strongly suggestive of the geologic
setting of the Trelawney gold deposits. Other drill targets did not
reveal significant gold values at depths attained.
President, Craig Naughty, stated: "The mineralization that was
intersected in the last 9m of DDH MR-10-10 appears to be of the
type that the Company had hoped to encounter. The Company intends
to perform additional drilling in the immediate proximity of this
hole to further determine the extent of gold mineralization."
Arrangements have already been made with the drill contractor to
return to the site within the next few weeks.
Program Details:
The First Lithium Mollie River drill program was designed to
test magnetic and induced polarization anomalies. Drill holes
intersected massive, fine- to coarse-grained gabbro, granite and
granodiorite that are locally chloritic, silicified and
carbonate-altered along narrow late shears and fractures.
Mineralization consists of trace to 5% pyrite, pyrrhotite and
chalcopyrite over core intervals of up to 14 m. Magnetite was
observed as disseminations and wispy laminae in all lithologies.
Pervasive fronts of alteration, including silicification and
chloritization, were limited but not uncommon in gabbroic
lithologies.
Drill core was generally sampled at 1 m intervals where sulphide
mineralization was observed. Six hundred and ninety-eight core
samples were split and one-half of the sample interval sent to
Activation Laboratories for analysis. Assays included gold by fire
assay on a 30 g sample and multi-element ICP subsequent to an
aqua-regia digest.
Analytical accuracy and reproducibility was assessed for the
gold assays by submitting a suite of samples originally assayed by
Activation Laboratories to Swastika Laboratories (near Timmins,
Ontario). Excellent comparability between laboratories is noted and
the result for the high-grade gold assay is summarized in Table
form below.
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Sample Laboratory Fire Assay-AAS Fire Assay-
Finish Gravimetry
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2600 Activation 1830 parts per
Laboratories billion
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2600 Swastika 2105 parts per 1988 parts per
Laboratories billion billion
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The contents of this release have been reviewed and approved by
Mark Fedikow, Ph.D., P.Eng., P.Geo., C.P.G., a qualified person as
defined by National Instrument 43-101.
ON BEHALF OF THE BOARD
Craig Naughty, President & CEO
"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."
Contacts: First Lithium Resources Inc. Craig Naughty President
& CEO (604) 669-0401 or Toll Free: 1-877-669-0401 (604)
669-0414 (FAX) info@firstlithiumresources.com
www.firstlithiumresources.com
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