Stock Info
Falcon and Despard
The Falcon Lake, Zigzag and Despard properties are both located in the general area of Linear Metals Corp. (TSX: LRM) Seymour Lake Lithium/Tantalum/Beryllium Property, approximately 60 km northeast of Armstrong, Ontario.
Falcon Lake Property
The Falcon lake property consists of 60 claim units which cover 3 historic lithium deposits known as the Falcon Discovery, Falcon East and Falcon West. Historical results on the deposits include:
- Falcon East - One drill hole which encountered 18 feet of pegmatite, which was found on analysis to average 1.13 percent Li2O (Donaldson 1956)**.
- Falcon West - One hole intersected 60 feet of pegmatite, of which 35 feet was found to average better than 1.0 percent Li20 (Donaldson 1956)**.
Despard Property:
The Despard property consists of 16 claim units which cover the Despard Lithium deposit. Historical results on the deposit include:
- One drill hole cored 30.2 feet of unaltered spodumene pegmatite, of which 20.0 feet was found on analysis to average 1.68 percent Li20**.
- A second drill hole cored 63.5 feet of unaltered spodumene pegmatite, including two sections, one 6.6 feet long, the other 9.0 feet long, grading 1.70 and 1.53 percent Li2O respectively (Middleton 1959)**.
The Property is tied directly onto Linear Metals Corp. (TSX: LRM) Seymour Lake Lithium/Tantalum/Beryllium property and is in the general area of Orebodies Falcon and Despard Lithium properties.
The property hosts 5 different showings of interest as listed below:
Tebishogeshik
- Consists of sub parallel pegmatite lenses*
- Channel cuts across No. 2 lens averaged 1.28 percent Li2O across 32 feet (Hoiles 1958)*
- The No. 4 lens has been channel-sampled at intervals throughout a length of 500 feet. According to Hoiles (1958), it averages 1.65 percent Li2O across a mean width of 22 feet*
- Breaks (2003) stated that the majority of the tantalum-oxide minerals in the Crescent Lake pegmatite group are manganotantalite. Individual analysis of manganotantalite from Tebishogeshik Lens 3 exceeded 80 weight % Ta2O5 and were amongst the highest documented in lithium-rich pegmatite of Ontario.
- Three samples, cut near the southeast end of the occurrence averaged 1.78% Li20 across a width of 4.1 m.*
- Channel samples were cut across the deposit by Dempster Explorations Limited. These samples indicated an average grade of 1.88 percent Li2O (Hoiles 1958).*
- Similar mineralogy as Tebishogeshik, contains prismatic spodumene crystals up to 10 cm in length*
- Muscovite bulk sample revealed anomalous levels of most rare metals; Lithium, Cesium, Tin, Niobium and Tantalum.**
- This beryl occurrence could be part of a larger, zoned, rare-element pegmatite dike swarm.**
- Dr. Anderson (1975) stated that geochemical sampling of the host rocks adjacent to the lithium rich pegmatite zones showed a dramatic increase in the trace lithium content.
**( historical in nature and not 43-101 compliant and therefore should not be relied upon- the information was taken from Open File Report 6195, Fertile and Peraluminous Granites and Related Rare-Element Mineralization in Pegmatites, North-Central and Northeastern Superior Province, Ontario by F.W. Breaks, J.B. Selway and A.G. Tindle 2006)
In order to earn its interest in the Property, Orebodies is required to:
1. Pay to Ultra $100,000 over a 4 year period.
2. Issue to Ultra an aggregate amount of 650,000 common shares of Orebodies over a 4 year period and issue to the Owners an aggregate amount of 150,000 common shares of Orebodies on TSXV approval.
3. Fund $350,000 of exploration expenditures on the property over a 4 year period.
The Vegan and Niemi South properties are both located approximately 150 km northeast of Thunder Bay in an area which is host to numerous known Lithium deposits and REE bearing pegmatites including those held by Lithium One Inc. (TSXV: LI) and TNR Gold Corp. (TSXV: TNR).
Vegan Property:
The Vegan property consist of 16 claim units and covers the Vegan lithium deposit which is considered as the extension of and tied directly onto the Newkirk lithium deposit reported to host 750,000 tons of pegmatite estimated to have an average grade of 1.38 percent Li20*. Historical results on the property include:
- The Vegan No. l deposit has been traced in outcrops and in 19 diamond drill holes, aggregating 2,423.3 feet, over a length of about 700 feet*.
- the central Lithia rich section of the deposit, reported on the basis of surface sampling to average 1.5 percent Li2O over a length of about 200 feet*.
The Niemi South Property consist of 16 claim units which tie directly onto the southern boundary of the Niemi Lithium deposit held by TNR Gold Corp.. Historical results on TNR's Niemi include:
- Drill hole which intersected 15.5 feet of pegmatite averaging 1.02 percent Li20; and the central section, 5 feet in core length, was found on analysis to contain 2.0 percent Li20*.
Greenbush Property:
The Greenbush property consists of 15 claim units and is located approximately 113 km northwest of Armstrong, Ontario and covers a known Lithium/Rare Metal occurrence in a relatively unexplored area. Historical results on the property include:
- A 50 foot chip sample returned 1.25% Li2O with trace Rare Metals including beryllium, cesium and rubidium***.
- A grab sample taken in 1980 returned a value of 2.46% Li2O***.
