Business
North Arrow Set to Commence Exploration at North Carolina Lithium Project
North Arrow Set to Commence Exploration at North Carolina Lithium Project
About this update from North Arrow Minerals Inc.
[{"type":"text","content":"\nNorth Arrow Set to Commence Exploration at North Carolina Lithium Project\n\n\n Sep. 23, 2009 (Filing Services Canada) -- North Arrow Minerals Inc. (NAR - TSX Venture), is pleased to provide an update of its activities at its wholly owned North Carolina lithium project, USA. The project is located in the Tin-Spodumene Belt of North Carolina which, prior to the 1980's, was the most important lithium producing center in the world. The belt extends over a 60 km length and reaches a maximum width of approximately 1.6 km. Historic lithium mining within the belt started in the 1950's with production primarily from two deposits: the Foote Mineral deposit, 1.6 km south of the town of Kings Mountain (currently owned by Chemetall Foote Corporation) and FMC Lithium's Hallman-Beam mine, located just north of Bessemer City. In 1982 estimated 'minable reserves' for the Foote Mineral deposit were reported as 29 million tonnes grading 1.5% Li2O with additional inferred reserves of 14 million tonnes grading 1.5% Li2O. The Hallman-Beam mine was similarly estimated to contain minable reserves of 27.5 million tonnes grading 1.5% Li2O. These reserves are historic in nature and are provided herein for the purpose of demonstrating the size and grade of past producing mines in the Tin-Spodumene Belt.\"The Tin-Spodumene Belt of North Carolina probably represents the premier locality in the world to be exploring for lithium pegmatites.\" stated D. Grenville Thomas, North Arrow's President and CEO, \"The history of lithium production in the area, access to excellent transportation and power infrastructure, and proximity to the existing downstream lithium production plants of FMC Lithium and Chemetall Foote make this an ideal location to potentially define additional American domestic lithium resources.\"North Arrow's North Carolina lithium project has focused on an area of the Tin-Spodumene Belt where past exploration and evaluation work was completed by the Lithium Corporation of America (predecessor to FMC Lithium) between 1950 and 1996. The Company has completed four property agreements covering eight land parcels and initial prospecting of the properties has confirmed the extensive presence of spodumene bearing pegmatites. Ten of fourteen widely spaced grab samples have returned from 1.5% Li2O to 4.4% Li2O. Additional exploration of the properties i...