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Golden Dory Updates Root Lake Lithium Oxide Property in Ontario
Golden Dory Updates Root Lake Lithium Oxide Property in Ontario
About this update from Goldmoney Inc.
[{"type":"text","content":"\nGolden Dory Updates Root Lake Lithium Oxide Property in Ontario\n\n\n Sep. 14, 2009 (Filing Services Canada) -- Golden Dory Resources Ltd. (GDR - TSX Venture), (\"Golden Dory\") is pleased to announce it has completed a due diligence site visit on the 15 claim unit lithium oxide property (Root Lake Property) in the Red Lake mining District of Ontario. The Root Lake property is located approximately 90 kilometers north of Sioux Lookout and is road accessible. The site visit verified the presence of a series of 1950's vintage trenches including the original trench from which channel sample results of 3% Li2O over 9.14 metres were reported by Consolidated Morrison Explorations Limited in 1955. Field observations were highlighted by the identification of spodumene (lithium silicate mineral) bearing pegmatite dikes up to 9 meters in width and carrying up to 80% coarse spodumene crystals. A series of composite chip samples up to 5 meters in length, as well as localized grab samples have been submitted to Activation Labs for lithium and rare earth element analysis in an attempt to verify historical results from the 1950's. The trenches observed were partially to completely slumped, and will require cleaning as well as extensions in order to undertake additional sampling and to test for additional pegmatite dikes.The Root Lake property is contiguous with claims that host the McCombe lithium prospect which has reported historical reserves of 2.3 million tons grading 1.3% Li20 (not verified by Golden Dory Resources Corp.) with locally significant tantalum (up to 380 ppm Ta reported by the Ontario Geological Survey in 2001) hosted within pegmatite dikes that occur less than 1 kilometre west of and directly along strike from Golden Dory's Root Lake property. The Root Lake and McCombe dikes lie within the English River Subprovince of Northwestern Ontario, a belt of rocks considered by the Ontario Geological Survey as being highly prospective for tantalum as well as lithium rich pegmatite dikes. Only limited work has been carried out at Root Lake since 1956 and the historic assaying only reported lithium values. Golden Dory recently announced that it has signed a Letter of Intent, pending a due diligence review, to acquire a 100% interest in the Root Lake property (subject to a 2% NSR) by making cash and share payments totaling $195,000 and...