Instead of bringing news from the market today - I thought I would shed light on some potential lithium investments that readers have been bringing to my attention - on the OTCBB/PinkSheets.
TNR Gold to option Sarcobatus from Tonogold Resources
2009-11-10 14:59 ET - News Release
Mr. Gary Schellenberg reports
TNR GOLD/INTERNATIONAL LITHIUM INCREASE NEVADA POSITION, SARCOBATUS FLATS-LITHIUM BRINE PROJECT
TNR Gold Corp. and its wholly owned International Lithium Corp. have signed a letter agreement to acquire up to a 100-per-cent interest in the 1,076-hectare Sarcobatus Flats lithium brine property, located 109 kilometres south of Tonopah, Nye County, in Nevada, from Tonogold Resources Inc. of La Jolla, in California.
Summary:
- Acquires 1,076-hectare Sarcobatus Flats property;
- An underexplored analogue to the producing lithium brines at Clayton Valley;
- TNR will focus on advancing its highly prospective Nevada projects.
Gary Schellenberg, president of TNR, states: "Our objective is to become one of the foremost companies in the Nevada lithium exploration and development sector. The acquisition of the Sarcobatus Flats property is a definitive step towards achieving our goal."
Sarcobatus Flats is a desert playa lake located in Western Nevada along Route 95, approximately 109 km south of Tonopah and 72 km southeast of Clayton Valley, the location of the producing Silver Peak world-class lithium brine deposit. The Sarcobatus Flats project consists of 105 placer claims totalling 1,076 hectares.
The acquisition of the new claims was prompted by the highly anomalous concentrations of lithium, ranging between 210 and 340 parts per million Li, encountered from a preliminary surface sediment sampling program conducted on the Sarcobatus Flats claim group. There are also several important similarities between the settings of Sarcobatus Flats and a Clayton Valley-type lithium brine deposit. The property is located in a closed structural basin. It contains similar stratigraphy and occupies a lacustrine environment similar in regional hydrogeography and geochemistry to Clayton Valley. In essence, Sarcobatus Flats represents an underexplored early-stage analogue to Clayton Valley.
To earn a 100-per-cent interest, TNR has agreed to make payments totalling $130,000 (U.S.) and issue 675,000 common shares over a four-year period. The vendor will retain a 2.5-per-cent royalty of which TNR has the right to purchase up to 2 per cent of the royalty by paying Tonogold $1-million (U.S.) per 1 per cent purchased, for a total of $2-million (U.S.), thereby reducing Tonogold's NSR to 0.5 per cent. The agreement is subject to regulatory approval.
TNR intends to explore its Nevada properties and determine if lithium evaporates and brine deposits have formed, similar to those found at Clayton Valley. It is developing an integrated regional lithium exploration approach using geochemical and basin modeling with gravity, electromagnetic, hydrogeological, and geochemical fieldwork to identify drill targets. The TNR exploration team has extensive geochemical, GIS modeling and targeting experience across four continents, with specific expertise in lithium and other rare metals.
John Harrop, PGeo, is TNR's qualified person on the project as required under NI 43-101. He has reviewed the technical information contained in this press release.
Of course, I refer to the red-highlighted area above. A credible third-party geolo
gist who has the necessary experiences from years of actual training and work experience. Not to mention it's passed the stringent test of the Canadian educational facilities.
By contrast, take a look at OTCBB's Blackhawk Explorations. No geological consultants mentioned - none of the management has even remote geological experience, coupled with complete lack of transparency on financials.. now they're drilling in Nevada???
If you have been following Mining101 for awhile - you know we have a great track record here - take a look at us calling MCI and HAO shoddy plays back in June - now they're all back down to their lows. Strategy for BHWX is to take profit ASAP.
THE SHODDY LITHIUM PLAYS
Black Hawk Exploration Approves Geologists Recommended Drill Program to Explore for Lithium Bearing Brines on Clayton Valley Claims
2009-11-02 06:00 ET - News Release
FOX ISLAND, Wash., Nov. 2 /PRNewswire-FirstCall/ -- Black Hawk Exploration, Inc. ("Black Hawk") announces plans to advance the Blue Lithium 56 claim 1,120 acre land position in the Clayton Valley, Esmeralda County Nevada. Hunsaker, Inc., consulting geologists to Black Hawk have recommended an initial drill program for Lithium bearing brines. The brines are expected to occur between 600 and 800 feet based on the 1980's U.S. Geological Survey work completed in the 1980's by the U.S. Geological Survey and the nearby producing wells at the Chemetall-Foote Silver Peak operation also in Clayton Valley. Drilling costs are estimated to be $30 a foot and the drill program is designed to identify the depth of the Brines, Lithium concentration, chemical characteristics and the geologic/aquifer settings.
Site permitting will be done utilizing the Bureau of Land Management's (BLM) Notice Level process. This provides for permitting less then 5 acres of disturbance for exploration on mineral properties which is more than sufficient for Black Hawk's current program. Most typically the entire Notice Level Permitting (NLP) is approved / accepted in 3 to 4 weeks. Once the NLP is submitted the BLM has 15 days to review and issue their comments and/or approval.
The submission of Black Hawk's NLP will describe our ownership, intended exploration program, planned disturbance, and reclamation plans. The reclamation program for the NLP requires bonding based on a prescribed BLM formula. The bonding process will utilize the Nevada Division of Mining Statewide Bonding Pool.
Black Hawk's Board of Directors have approved funding for the program submitted by Black Hawk Exploration's Geologists and expect the Clayton Valley permitting process to begin this week.
The lack of information is amazing - I'd stay away if you value your money.
About Black Hawk Exploration Inc.:
Black Hawk is a diversified metals and energy exploration company with its current focus on lithium exploration through its wholly owned subsidiary Blue Lithium. Black Hawk is committed to an aggressive program of value added property acquisition, project generation, asset diversity and building Shareholder value.
"Safe Harbor" Statement: Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995.
Certain oral statements made by management from time to time and certain statements contained in press releases and periodic reports issued by Black Hawk (the "Company"), as well as those contained herein, that are not historical facts are "forward-looking statements" within the meaning of Section 21E of the Securities and Exchange Act of 1934 and, because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.
Black Hawk Exploration Inc.
CONTACT: Kevin M. Murphy, CEO of Black Hawk Exploration, +1-253-973-7135,
or Baronmarney@msn.com
_______
Then, there's American Lithium (AMLM:PK) who blatantly considers their early-stage assets as "Saudi Arabia of Lithium in USA". Despite the laughable attempt to trick mass market investors (unfortunately, with such opaque financial statements and insider trading information), AMLM finds themselves at a point nearly $2/share, which with 50 millions shares outstanding, bringing total market cap to a ridiculous $100 million market cap...based on early stage one lithium brine project?
Completely blown out of proportion and utterly unbelievable.
If you're making money on that position I'd recommend immediately exiting.
With blatant promo like this it's amazing SEC lets' them get away with it.
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