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Li3 Lithium Corp.
Li3 Lithium Corp.
Registriert in: Kanada WKN: A3DQR9 Rohstoffe:
Art: Originalaktie ISIN: CA5368771039 Lithium
Heimatbörse: TSX Venture Alternativ: WTCRF
Währung: CAD    
Symbol: LILI.V Forum:

Western Troy Receives Assay Results at Deborah Lake, Partner Match Capital Begins Drilling at Indian Lake

10.06.2011 | 23:00 Uhr | Marketwired

TORONTO, ONTARIO -- (Marketwire) -- 06/10/11 -- Western Troy Capital Resources (TSX VENTURE: WRY) (Western Troy or the Company) announced today it had completed its diamond core drilling program at its Deborah Lake Prospect near Schefferville, QC. Western Troy also announced that Match Capital Resources (TSX VENTURE: MHC) began a diamond core drilling program at Western Troy's Indian Lake Prospect which is also near Schefferville, Quebec. The first hole intercepted 3 meters of massive sulphides at a depth of 102 meters (description below).


Deborah Lake


The drilling program at Deborah Lake consisted of 2370 meters in 24 core holes drilled on a number of targets on the property. The drill targets were identified as a result of surface chip sampling, regional geologic mapping, and airborne magnetic and electromagnetic surveys. Drill core with mineralized sections were split and samples sent for assay. The following table shows the significant intercepts:



Hole From (m) To (m) Length (m) Copper Gold
---- -------- ------ ---------- ------ ----
3 36.9 43.3 6.4 0.35%
4 65.8 70.6 4.8 0.26%
5 38.1 41.8 3.7 0.27%
6 242.4 246.6 4.2 0.41%
7 7.3 13.4 6.1 0.25%
7 9.2 9.7 0.5 0.52 g/t
8 0 2.1 2.1 0.29%
8 11.0 12.5 1.5 0.37%
9 44.6 50.1 5.5 0.25%
9 50.1 53.6 3.5 0.31 g/t


Holes 1 through 6 were drilled in the area where surface samples returned assays of up to 5% copper and 4 grams gold per tonne in boulders and sub-crop, which appeared to be frost-heaved bedrock. The type and strength of the mineralization from surface sampling was not encountered in the drill holes suggesting that the mineralization may have come from another source not tested by the drilling. Additional surface work will be needed to find the source of the mineralization. Drilling on geophysical anomalies in other areas of the prospect did not return significant assays other than what is shown above. Western Troy will do more surface work to determine the source of the high grade mineralization found on surface.


Western Troy's CEO, Rex Loesby commented, 'We are disappointed the drilling to date has not determined the source of the high grade surface mineralization found during the field season of 2010. Additional surface work will be needed to find the source. Western Troy has substantial intrinsic value with its advanced stage MacLeod Lake Copper/Molybdenum Project, and we have the blue sky potential that comes from multiple attractive exploration targets in Quebec. Quebec has been consistently ranked as one of the world's top three jurisdictions for mineral exploration investment. Our cash position is strong (currently at approximately $3.5 million, or about 10 cents per share), and we will continue to advance the MacLeod Lake Project and acquire and explore other prospects in Quebec.'


Indian Lake


Match Capital Resources, Inc., is earning 50 percent of the Indian Lake Prospect from Western Troy by spending $250,000. The massive sulphides intercepted in the first hole drilled at Indian Lake are contained within a peridotite formation. The photo below shows the mineralized section of core from the first hole.


To view the photo associated with this press release, please visit the following link: http://media3.marketwire.com/docs/Indian%20Lake.jpg


The sulphides are predominantly pyrrhotite (pyrrhotite is an iron sulphide that is not an economic mineral). However chalcopyrite (copper) and pentlandite (Ni) have been identified. The hole was drilled to verify drilling done by Kangeld Resources in 1989 where a drill intersection was reported containing 46.2 feet of 0.44% copper, 0.31% nickel and 0.44 g/t combined platinum and palladium (GM48563, Quebec Assessment Files). Kangeld Resources described the mineralization as similar to the Blue Lake Cu-Ni-Pt-Pd deposits located about 22 kilometers to the south of the property in similar geology. Match plans to drill approximately 1100 meters in 8 holes in the current program.


About Western Troy: Western Troy's shares trade on the TSX Venture Exchange under the symbol WRY. Western Troy has 33,589,970 shares outstanding. More information on Western Troy can be found on its Website at www.westerntroy.com.


Forward Looking Statements: Statements in this release that are forward-looking reflect the Company's current views and expectations with respect to its performance, business, and future events. Such statements are subject to various risks and assumptions, some, but not necessarily all, are disclosed elsewhere in the Company's periodic filings with Canadian securities regulators. Such statements and information contained herein represent management's best judgment as of the date hereof based on the information currently available; however actual results and events may vary significantly. The Company does not assume the obligation to update any forward-looking statement.


Claude P. Larouche, P. Eng. (OIQ, Quebec), has approved the technical data presented in the news release. Mr. Larouche is an independent consultant for Western Troy and acts as the Qualified Person under National Instrument NI-43-101.


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.

Contacts:

Western Troy Capital Resources

Rex E. Loesby

CEO

416-929-3268
Loesby@westerntroy.com
www.westerntroy.com


 
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