Business
Mineral Hill now second largest land holder next to Canada Lithium in Val d'Or Quebec
Mineral Hill now second largest land holder next to Canada Lithium in Val d'Or Quebec
About this update from Gold Strategy Inc.
[{"type":"text","content":"\n\n\n\n Jun. 2, 2010 (Canada NewsWire Group) -- \n >\n\n\n Mineral Hill Industries Ltd. ("Mineral Hill") is pleased to announce that following the acquisition of the "Canadian and Martin McNeely Property" on May 26th, 2010, the Company has become the second largest land holder next to Canada Lithium in Val d'Or, Quebec. The Canadian and Martin McNeely property is located approximately 40 kilometers northwest of the mining town of Val d'Or and approximately 700 meters east-southeast of the old Quebec Lithium Mine property boundary line.\nIn addition to the Canadian and Martin McNeely property Mineral Hill owns three other Quebec lithium properties (Chubb, International and Athona) consisting of 61 mineral claims covering 2333.45 hectares.\n"Mineral Hill is planning to develop a drilling program for its Quebec lithium properties," said John Punzo, President of Mineral Hill Industries. "The Quebec Lithium Mine, which is now owned by Canada Lithium, is considered the biggest lithium carbonate property in the province and is the only lithium mine to have ever reached production in Quebec."\nThe new property is well located on the contact zone of the Lacorne batholiths and exhibits the potential to host viable lithium mineralization and add more potential to the three lithium properties previously announced by Mineral Hill during the summer of 2009.\nThe major rock units found on the new property are hornblende granodiorite-monzonite associated with the early intrusive phase of the Preissac-Lacorne Batholith, andesitic to rhyolitic lavas and tuffs (Aurora Group) and metasediments (biotite schists) of the Lac Caste Group. The lithium mineralization is found in granitic pegmatite dykes containing spodumene as the economic mineral.\nIn 1955, Canadian Lithium Co. Ltd. drilled a total of 66 diamond drill holes in the area of the Canadian Lithium prospect, eight of which are located on newly acquired claims. Best intersections include: 0.98 wt. % Li(2)O/3 m; 0.48 wt. % Li(2)O/6.5 m and 0.51 wt. % Li(2)O/6.5 m. The Martin McNeely prospect is located approximately 700 meters directly east of the Canadian Lithium prospect. Spodumene-bearing granitic pegmatite dykes with secondary lepidolite and molybdenite intersect amphibolitized peridotite and mafic volcanic rocks.\nThe demand for lithium has been gro...