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North Arrow Reports 1.16% Li2O OVER 7.57 m from Beaverdam, North Carolina and Arranges $1,000,800 Private Placement
North Arrow Reports 1.16% Li2O OVER 7.57 m from Beaverdam, North Carolina and Arranges $1,000,800...
About this update from North Arrow Minerals Inc.
[{"type":"text","content":"\nNorth Arrow Reports 1.16% Li2O OVER 7.57 m from Beaverdam, North Carolina and Arranges $1,000,800 Private Placement\n\n\n Mar. 19, 2010 (Filing Services Canada) -- North Arrow Minerals Inc.  (NAR - TSX Venture), is pleased to provide an update on its wholly owned Beaverdam lithium project. The Beaverdam project is located in the Tin-Spodumene Belt of North Carolina, historically the most important lithium producing region in the world. The region hosts the past producing Kings Mountain and Bessemer City lithium mines and the respective owners of these mines, Chemetall Foote Corporation and FMC Lithium Inc., continue to maintain and operate lithium processing and research and development facilities in the area. These facilities include FMC Lithium's Center for Lithium Energy and Advanced Research (CLEAR), which is at the forefront of American development of rechargeable lithium ion batteries for electric vehicles and is located just 11 kilometers (km) from the Beaverdam project.North Arrow's 2009 drilling program at the Beaverdam project consisted of twelve drill holes (1,235 meters (m)) and final outstanding assays from holes 09-BD-09, 09-BD-11 and 09-BD-12 are reported in this release. Lithium is contained in the mineral spodumene which occurs in over 37 pegmatite bodies that have been mapped over a 1.7 km by 1.0 km area within the project. Only nine of these mapped pegmatites were drill tested in 2009. All twelve drill holes intersected lithium bearing pegmatites, with previously reported assays including 1.54% Li2O over 4.67 m and 1.24% Li2O over 13 m (please see North Arrow news releases #09-26 and #10-01). The final three drill holes have returned similar results, with 09-BD-09 (-45 degrees) returning 3.12 m grading 0.85% Li2O, 09-BD-11 (-70 degrees) returning intervals of 3.34 m grading 0.86% Li2O and 6.00 m grading 1.10% Li2O, and 09-BD-12 (-45 degrees) returning 3.54 m grading 0.96% Li2O and 7.57 m grading 1.16% Li2O.As part of North Arrow's ongoing Quality Assurance/Quality Control program, 24 sample pulps were selected for repeat assays using a sample preparation of sodium peroxide fusion in place of the four acid digestion that was used for all previous assays. The repeat sample analyses have consistently returned higher lithium values than the primary assay technique, with the eight samples returning >1.0...