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TNR GOLD / INTERNATIONAL LITHIUM INCREASE NEVADA POSITION SARCOBATUS FLATS – LITHIUM BRINE PROJECT
TNR GOLD / INTERNATIONAL LITHIUM INCREASE NEVADA POSITION SARCOBATUS FLATS LITHIUM BRINE PROJECT
About this update from Tnr Gold Corp.
[{"type":"text","content":"\nTNR GOLD / INTERNATIONAL LITHIUM INCREASE NEVADA POSITION SARCOBATUS FLATS – LITHIUM BRINE PROJECT\n\n\n Nov. 10, 2009 (TheNewswire.ca) -- Vancouver B.C.: TNR Gold (TSXV:TNR) Corp. (\"TNR\" or the \"Company\") and wholly-owned International Lithium Corp. (\"ILC\") are pleased to announce the signing of a letter agreement to acquire up to a 100% interest in the 1,076 hectare Sarcobatus Flats lithium brine property located 109 kms south of Tonopah, Nye County, Nevada, from Tonogold Resources Inc. (PINK OTC: TNGL.PK ) of La Jolla, California.Key point summary:-Acquires 1,076 hectare Sarcobatus Flats property;-An under-explored analogue to the producing lithium brines at Clayton Valley; and-TNR will focus on advancing its highly prospective Nevada projects.Gary Schellenberg, President of TNR Gold Corp. states \"Our objective is to become one of the foremost companies in the Nevada lithium exploration and development sector. The acquisition of the Sarcobatus Flats property is a definitive step towards achieving our goal.\"Sarcobatus Flats AcquisitionSarcobatus Flats is a desert playa lake located in Nye County, western Nevada along state route 95 approximately 109 kilometres south of Tonopah and 72 kilometres southeast of Clayton Valley, the location of the producing Silver Peak world-class lithium brine deposit. The Sarcobatus Flats project consists of 105 placer claims totaling 1,076 hectares.The acquisition of the new claims was prompted due to the highly anomalous concentrations of lithium, ranging between 210 and 340ppm Li, encountered from a preliminary surface sediment sampling program conducted on the Sarcobatus Flats claim group. As additional encouragement, there are several important similarities between the settings of Sarcobatus Flats and a Clayton Valley type lithium brine deposit. The property is located in a closed structural basin, contains similar stratigraphy and occupies a lacustrine environment similar regional hydrogeography and geochemistry to Clayton Valley. In essence, Sarcobatus Flats represents an under-explored early stage analogue to Clayton Valley.To earn a 100% interest, TNR has agreed to make payments totaling USD$130,000 and issue 675,000 common shares of TNR over a four-year period. The vendor will retain a 2.5% royalty of which the Company has the right to purchase up to 2% of the Royalty, by...