Tearlach Completes Phase 1 Drill Program at Gabriel Lithium Project in Nevada and files the 43-101 Tech Report
April 06 2023 - 7:30AM
Tearlach Resources Limited (TSXV: TEA) (OTC: TELHF)
(FRANKFURT: V44) (“Tearlach” or the “Company”) is pleased
to announce the completion of its Phase 1 drill program at the
Gabriel Property in Tonopah, Nevada. The Company has also filed a
NI 43-101 Technical Report related to the property. Furthermore,
Tearlach's geologic team has reviewed the assays for duplicate
samples from the property and found that the results were, on
average, 29% higher than the original Blackrock Silver Corp.’s
(“BRS”) assays. As a result, a check-assay program will be
conducted on drill hole sample pulps from selected BRS holes to
expand the geographic distribution of drill hole data suitable for
resource modeling. Tearlach is pleased with the progress made on
the Gabriel Property and remains committed to advancing its
exploration and development activities.
Highlights:
- Completion of a
NI 43-101 Technical Report on Gabriel Property.
- Completion of
Phase 1 drilling, 11 holes and 3939 feet (1200.6 meters) at
Gabriel.
- Plan to re-assay
BRS pulps from the previous drill program, with data to be included
for a future resource estimate.
- Re-assaying the
BRS drill sample pulps saves Tearlach the considerable cost of
re-drilling those holes for resource estimation purposes.
- This re-assay
data provides an opportunity for grade and volume increase of the
mineralized zone.
- Reassaying the
BRS drilling data provides Tearlach with a cost-effective solution,
eliminating the need to undertake costly redrilling activities for
estimation purposes. This approach allows the Company to leverage
existing data and optimize resources to advance its exploration and
development activities.
Mr. Robert J. Kellie, a Registered Member of the
Society for Mining, Metallurgy and Exploration, Inc., has authored
the Technical Report for the Gabriel Property in Tonopah, Nevada.
As an Independent Qualified Person under the National Instrument
"43-101", Mr. Kellie brings over 30 years of experience
investigating a wide range of mineral deposits, including lithium
deposits hosted in evaporite, chemical precipitate, and clay
formations. Based on his expertise, Mr. Kellie has concluded that
“the Gabriel Project holds significant potential for expansion and
the possible definition of lithium mineral resources through
further drilling.” He affirms that the project's quality is
favorable, making it a promising site for exploration and
development activities.
Tearlach has completed a Phase 1 core drilling
program on the property, which significantly conforms to the
exploration program recommended by Mr. Kellie. Core holes have been
drilled to: 1) twin Li-mineralized Blackrock Silver (BRS)
reverse-circulation rotary holes (RC) (5 holes), and 2) step-out
from BRS RC holes throughout much of the Gabriel land position (6
holes). Initially, the step-out program for the Gabriel
Property in Tonopah, Nevada, was designed to have a hole spacing of
500 meters. However, halfway through the drilling process, the
program was modified to have a spacing of 1,000 meters. This
decision was based on a review of resource classification criteria
that were applied to other lithium-claystone projects in close
proximity to Gabriel. The modification was made to optimize the
exploration program and ensure that the drilling process aligns
with industry-standard practices for resource estimation.
Figure 1: Gabriel Drill Map
All Gabriel Phase 1 core holes intersected
favourable claystone stratigraphy (see photos below) of the Siebert
Formation. As reported in neighbouring properties, lithium
mineralization is hosted in similar stratigraphy, as summarized in
the newly published NI 43-101 Gabriel Technical Report. Most of the
Gabriel holes intersected an upper claystone (average 165 feet /
50.3 meters thick) and a lower claystone horizon (average 25 feet /
7.6 meters wide). The depth of young alluvium overlying the upper
claystone horizon is approximately 30 feet (10 to 65 feet below the
surface).
“This is an exciting and transformative time for
Tearlach as we eagerly await the results from our first ever drill
program on the Gabriel Project in Nevada. Not only did we drill to
confirm the original Black Rock Silver holes but we completed a
number of large distance step outs to gain a better understanding
of the potential size of the mineralized zones. Our Geological team
in Nevada played a key role in minimizing the drilling footprint by
using modern mineral resources estimate standards to modify the
hole spacing, resulting in a reduction of the number of drill holes
required for a resource estimation. We are optimistic about the
potential of the Gabriel project to not only drive value for the
shareholders and look forward to receiving the assay results from
the program. We remain committed to advancing the exploration and
fast-track development of the Gabriel Project,” states Morgan
Lekstrom, CEO.
Qualified Person:
Mr. David Flint, CPG with AIPG., Director of the
subsidiary Pan Am Lithium (Nevada) Corp, and a Qualified Person as
defined by National Instrument 43-101 – Standards of Disclosure for
Mineral Projects, has reviewed and approved the scientific and
technical information contained in this news release.
About
Tearlach:
Tearlach, a member of the TSX Venture 50, is a
Canadian exploration company engaged in acquiring, exploring, and
developing lithium projects. Tearlach has a Joint Venture agreement
with Blackrock Silver on the Gabriel project in Tonopah, Nevada,
bordering American Lithium's TLC Deposit, and has completed 11
drill holes on the Gabriel Property. Tearlach has three lithium
assets in Ontario: Final Frontier, Georgina Stairs and New
Frontier. Final Frontier is located adjacent to and near Frontier
Lithium’s PAK lithium deposit north of Red Lake. Georgina Stairs is
located northeast of Rock Tech Lithium’s Georgia Lake deposit near
Beardmore. Tearlach has two lithium assets in Quebec:
Rose-Fliszar-Muscovite Project in the James Bay area and Shelby
Project adjacent to and near Patriot Battery Metals’ Corvette
lithium project and Winsome Resources’ Cancet and Adina lithium
projects. Tearlach also has the Savant Property, an exploration
stage Gold-Silver-Copper Property, in Northwestern Ontario.
Tearlach's primary objective is to position itself as North
America's leading lithium exploration and development company. For
more information, please get in touch with the Company at
info@tearlach.ca or visit our website at www.tearlach.ca for
project updates and related background information.
ON BEHALF OF THE BOARD OF
DIRECTORS,TEARLACH RESOURCES LIMITED.
Morgan LekstromChief Executive OfficerSuite 610 - 700 W. Pender
StreetVancouver, BC, Canada V6C 1G8 Tel: 604-688-5007
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Forward-looking statements
This press release contains forward-looking
statements and forward-looking information within the meaning of
Canadian securities laws (collectively, “forward-looking
statements”). Statements and information that are not historical
facts are forward-looking statements. Forward-looking statements
are frequently, but not always, identified by words such as
“expects”, “anticipates”, “believes”, “intends”, “estimates”,
“potential”, “possible” and similar expressions or statements that
events, conditions or results “will”, “may”, “could” or “should”
occur or be achieved. Forward-looking statements and the
assumptions made in respect thereof involve known and unknown
risks, uncertainties, and other factors beyond the Company’s
control. Forward-looking statements in this press release include
statements regarding beliefs, plans, expectations or intentions of
the Company. Mineral exploration is highly speculative and
characterized by several significant risks, which even a
combination of careful evaluation, experience and knowledge may not
eliminate. Forward-looking statements in this press release are
made as of the date herein. Although the Company believes that the
assumptions and factors used in preparing the forward-looking
statements in this press release are reasonable, undue reliance
should not be placed on such statements. The Company undertakes no
obligation to update publicly or otherwise revise any
forward-looking statements, whether as a result of new information
or future events or otherwise, except as may be required by
law.
Neither the TSX Venture Exchange nor its
Regulation Service provided (as that term is defined in the
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the adequacy or accuracy of this release.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/41dfb7d4-a5af-49a2-9f1b-48859ff864a1
https://www.globenewswire.com/NewsRoom/AttachmentNg/ce75d521-a2ad-49eb-b220-8850525dcf23
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