Jun. 23, 2011 (Baystreet.ca) --
Nemaska
Exploration Ltd. (TSX-V: NMX) is
a junior exploration company with two lithium properties in northern Quebec:
Whabouchi and Sirmac.
Nemaska’s
flagship lithium/beryllium Whabouchiproperty has a 2011 NI 43-101 compliant resource estimate: 25.1 million tonnes
of Measured + Indicated (M+I) resources containing 851 Mlb of Li2O; and 4.4 million tonnes of
Inferred resources containing 147 million lb of Li2O
(note that Li2O contained numbers are eResearch estimates).
The property also has an NI 43-101 compliant Preliminary Economic Assessment,
completed in early 2011. (“Whabouchi” is Cree for White Mountain.)
Nemaska
spun off its three non-lithium properties into a newly-created company,
Monarques Resources Inc., which recently completed a $6 million IPO. Nemaska
retains a 47% ownership interest in Monarques (TSX-V: MQR).
The
spin-out allows Nemaska to focus solely on bringing Whabouchi into production,
which time-line is set for 2013. This strategic property is easily accessible,
and easily mined. But, first, Nemaska needs to complete the permitting process
and then raise some $85-$90 million. Its strategic shareholder, Chengdu Tianqi
Industry Group of China, is expected to play a key role in these endeavours.
eResearch is a primary source for
professional investment research, focused primarily on small- and mid-cap
companies. Our research and analysis is of institutional quality, and has the
potential for reaching millions of global investors through our extensive
electronic distribution network.
eResearch posts all its reports and
articles on its website, www.eresearch.ca, and subscription is FREE.
Contact:
eResearch:
Bob Weir, CFA, Managing Director, Research Services
Telephone: (416) 703-6258 Ext 221;
E-mail: bweir@eresearch.ca