Es gibt NEWS......
Jun 08, 2010 08:17 ET
Nemaska Proves Continuity of Lithium Mineralisation at Depth With 1.61% Li2O Over 79.2m on Whabouchi
QUEBEC CITY, QUEBEC--(Marketwire - June 8, 2010) - Nemaska Exploration Inc. («Nemaska» or the« Corporation») (TSX VENTURE:NMX) is pleased to confirm the results of drill hole WHA-10-66, the last hole of the winter drill campaign on its Whabouchi property. These results, which are not part of the resource calculation released on May 31, 2010, returned 1.61% Li2O over 79.2m from 383.8m to 463m (true width 46.7m) for the main zone and 1.96% Li2O over 11.8m from 279.8m to 282.6m (true width 7m) for the South zone. The main spodumene pegmatite was intersected at a vertical depth of - 430m and the South spodumene pegmatite at a vertical depth of - 290m.
The results of this drill hole are approximately 220m below drill hole WHA-10-29, the deepest hole on section 5+50E, which is part of the resource calculation. The hole was designed to test the continuity of mineralization at depth. The resources estimates released on May 31, 2010, at a cut-off grade of 0.5% Li2O are the following:
The technical sections of this press release have been prepared by Yvan Bussières, P. Eng and reviewed by Claude Britt, P. Geo. qualified persons as defined in National instrument 43-101.
The corporation also announces the grant of 62,500 share purchase options to directors at a price of $0,495 per share for a period of 5 years. This grant of options is made according to the established annual remuneration of the directors providing for the issuance of 4 blocks of 12,500 options every Friday following the release of annual and quarterly financial statements on SEDAR, at a price equal to the close of the common shares on the TSX-V that day. The Corporation has granted 12 500 shares purchase options to each of the following persons: Mr. Michel Baril (Chairman of the board and director), Mr. Guy Bourassa (president and CEO, corporate secretary and director), Mrs. Judy Baker (director), Mr. Yves Caron (director) and Mr. René Lessard (director).These options were granted in accordance with the terms of the actual share purchase option plan of the Corporation.
About Nemaska
Nemaska Exploration Inc. is a mineral exploration company involved in the James Bay region of Quebec. Its main assets are the Whabouchi (about 2,240 hectares), Lac Levac (about 7,212 hectares), Lac Arques (about 35,270 hectares), and Lac des Montagnes (about 16,695 hectares) properties, all 100 % owned. These properties are contiguous and cover about 70 km of the Lac des Montagnes green belt polymetallic formation. They are easily accessible year round by either the Route du Nord from Chibougamau (280 km) or the Route de la Baie James from Matagami (380 km) and are located near the Cree community of Nemaska and the Némiscau airport.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.
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