|April 22, 2010|
Orebodies Assays High Grade Lithium and Rare Metals on Zigzag Property
TORONTO, April 22, 2010 - Canadian Orebodies Inc. (TSXV: CO) ("Orebodies") is pleased to announce assay results from grab and channel samples taken from of its Zigzag Lithium/Rare Metals property (the "Property") under option from Ultra Lithium Inc. ("Ultra"). The Property is subject to an Option Agreement with Ultra and the underlying property owners to acquire an 80% legal and beneficial interest (subject to a 2% NSR retained by the Owners, 50% of which can be purchased by Orebodies for $1,000,000).
The Property in total consists of 129 claim units comprising 2,064 hectares, located approximately 60 km northeast of Armstrong, Ontario. The property is host to 5 historical lithium and rare metal showings of consequence.
Historical highly anomalous tantalum and cesium values are notably widespread on the property and indicate a high potential for zoned, complex-type pegmatites enriched in tantalum and cesium. Complex-type pegmatites are excellent targets for economic deposits of lithium, tantalum, cesium and rubidium such as the Tanco pegmatite in Manitoba.
Besides lithium, tantalum could have one of the most considerable economic benefits on the Zigzag property as historically there have been a significant amount of samples collected that demonstrate widespread, high grade results. Breaks (2003) stated that individual analysis from the Tebishogeshik Lens 3 exceeded 80 wt % Ta2O5 and were amongst the highest documented in lithium-rich pegmatite of Ontario.
Zigzag Sampling Overview
There were a total of 7 grab and 6 channel samples collected during Orebodies preliminary recognisance work on the Zigzag property which have yielded high grade lithium and rare metals from 2 of the historic showings on the Zigzag property.
TABLE 1 - HIGHLIGHTED GRAB ASSAYS FOR DEMPSTER EAST SHOWING
(Grab samples are selective by nature and are unlikely to represent future average grades on the property.)
TABLE 2 - HIGHLIGHTED CHANNEL ASSAY FOR DEMPSTER EAST SHOWING
TABLE 3 - HIGHLIGHTED CHANNEL ASSAY FOR KETCHICAN BERYL SHOWING
** Sample contains a 0.75 m interval with >1,000 ppm Be. The weighted average was calculated with an assumed value of 1,000 ppm Be.
In addition to the high grade beryllium encountered on the Ketchican Beryl occurrence in channel #02, channel #01 also sampled 3.5% K2O over 4.73 meters. High K2O values are indicative for the potential of an Rb-rich potassium feldspar, an attractive product for the ceramics market. These results from the Ketchican Beryl occurrence are very encouraging as it appears that this showing could form part of a larger, zoned, rare metal pegmatite dike swarm
Gordon McKinnon, President & CEO stated "We are delighted with the results to date on all of our lithium/rare metal properties. Our preliminary work has only scratched the surface, but has demonstrated that there is excellent potential on all of these properties and we are excited to get back on the projects with a program to follow up on these results."
Future Work Programs
Due to the excellent results received over the last few months on all of our lithium/rare metal properties which included previous highlights below (for full results please see Orebodies Press Releases dated March 11 and 18, 2010)
All samples were submitted to ALS and analyzed using four acid digestion and ICP-AES and ICP-MS. For more information on assay methodology please visit the ALS Laboratory Group. Website at http://www.alsglobalcom
This press release has been prepared under the supervision of Mr. Don Hains (P.Geo.)., who is an independent consultant to the Company and a "qualified person" (as such term is defined in National Instrument 43-101). Mr. Hains has verified the technical data disclosed in this press release.
For more information please contact:
Gordon McKinnon, President & CEO
Canadian Orebodies Inc.
Forward Looking Information:
This press release contains certain "forward-looking statements". All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements relating to mineral resources, potential mineralization, exploration results and the Company's plans with respect to the exploration and development of the Properties) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, changes in commodity prices, changes in equity markets, failure to establish mineral resources, changes to regulations affecting the Company's activities, delays in obtaining or failures to obtain required regulatory approvals, uncertainties relating to the availability and costs of financing needed in the future, the uncertainties involved in interpreting drilling results and other ecological data, and the other risks involved in the mineral exploration and development industry. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.
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