Business
Athabasca Nuclear Corp. Acquires Brazil Lake Lithium Project
Vancouver, British Columbia (FSCwire) - Athabasca Nuclear Corporation (TSX-V: ASC) (“ASC” or the “Corporation”) is pleased to report that it has acquired a larg
About this update from Dixie Gold Inc.
[{"type":"text","content":"Vancouver, British Columbia (FSCwire) - Athabasca Nuclear Corporation (TSX-V: ASC) (“ASC” or the “Corporation”) is pleased to report that it has acquired a large scale lithium project in Nova Scotia’s highly prospective lithium district near Yarmouth. “Securing the largest part of the Brazil Lake region for ASC is a significant achievement. Beyond the area already having been identified as hosting one of North America’s richest spodumene lithium occurrences it is also systemically underexplored. This new lithium exploration asset is another excellent addition to our robust and growing lithium project portfolio and we are excited to partake in Nova Scotia’s clean commodity potential,” stated Ryan Kalt, CEO of the Corporation. The Brazil Lake Lithium Project The Brazil Lake Lithium Project encompasses twenty one contiguous mineral licenses granted by the Government of Nova Scotia covering 14,666 hectares. The Brazil Lake Lithium Project extends from 1 km to 20 km north from Yarmouth, and has excellent infrastructure, with both power lines and the TransCanada highway located within the boundaries of the project. Map of the Brazil Lake Lithium Project: ASC’s Brazil Lake Lithium Project covers a large metasedimentary belt located just northeast of Yarmouth, Nova Scotia. The project is on-trend with identified lithium spodumene pegmatites owned by privately-held Champlain Mineral Ventures Ltd. (“Champlain”), whose known pegmatites are reportedly among the richest lithium bodies known in North America, reaching 7.7% Li2O in some spodumene crystals (see News Release Petro Horizon Energy Corp., dated February 10, 2010). Within the large prospective regional project now held by ASC, prior prospecting identified pegmatite float boulders in till along the Bloomfield Road at Gardners Mills. The Ta-bearing albite facies of the float pegmatites are closely comparable to the Ta zones in the spodumene (lithium) Brazil Lake pegmatites hosted on Champlain’s claims located approximately 250 meters from ASC’s project and may possibly be a continuation of that same pegmatite swarm (Nova Scotia Assessment Report – AR2002-008 (“Assessment Report”)). As noted in the Assessment Report, Peter Howe, who originally discovered the Tanco pegmatite in Manitoba, suggested that the Brazil Lake pegmatites and the float boulders near Gardner Mills are simila...