swissree
14 years ago
RESS RELEASE: Canadian Orebodies Inc. Mobilizes Crews to Lithium Rare Metal Property
30.09.10 16:46:32- DJPN
TORONTO, ONTARIO--(Marketwire - Sept. 30, 2010) - Canadian Orebodies Inc. (TSX
VENTURE:CO) (the "Company") is pleased to announce that it has mobilized crews
to begin work on its Zigzag Lithium/Rare Metals property (the "Property"). The
Property is subject to an option agreement with Ultra Lithium Inc. (TSX
VENTURE:ULI) and the underlying property owners to acquire an 80% legal and
beneficial interest (subject to a 2% NSR retained by the Owners, 50% of which
can be purchased by Orebodies for $1,000,000).
The work program is to consist of detailed geological mapping, grab sampling
across the claims and where possible mechanical stripping which will be
followed up with systematic channel sampling.
Zigzag Property Overview
The Property in total consists of 129 claim units comprising 2,064 hectares,
located approximately 60 km northeast of Armstrong, Ontario. The property is
host to 5 historical lithium and rare metal showings of consequence.
Historical highly anomalous tantalum and cesium values are notably widespread
on the property and indicate a high potential for zoned, complex-type
pegmatites enriched in tantalum and cesium. Complex-type pegmatites are
excellent targets for economic deposits of lithium, tantalum, cesium and
rubidium such as the Tanco pegmatite in Manitoba.
Besides lithium, tantalum could have one of the most considerable economic
benefits on the Zigzag property as historically there have been a significant
amount of samples collected that demonstrate widespread, high grade results.
Breaks (2003) stated that individual analysis from the Tebishogeshik Lens 3
exceeded 80 wt % Ta2O5 and were amongst the highest documented in lithium-rich
pegmatite of Ontario.(i)
(i)(historical in nature and not 43-101 compliant and therefore should not be
relied upon.)
Additionally, Orebodies is currently reviewing several other projects and
opportunities that have come available to the Company. The Company is
continually interested in sourcing projects that can complement its current
portfolio of properties and create shareholder value.
swissree
14 years ago
PRESS RELEASE: Adanac to Seek Order Approving Plan of Arrangement, Setting Date for Meetings of Creditors and Dispensing with Requirement for Meeting of Shareholders
13.10.10 22:08:26- DJPN
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 13, 2010) - Adanac Molybdenum
Corporation (TSX:AUA)(PINK SHEETS:AUAYF)(FRANKFURT:A9N) ("Adanac" or the
"Company") is pleased to announce that it has finalized a plan of compromise
and arrangement (the "Plan") in a form acceptable to the Company and the Plan's
sponsors, the Senior Secured Noteholders. Adanac will apply to the Supreme
Court of British Columbia on Monday, October 18, 2010, for an order authorizing
the Company to file the Plan and to convene meetings of its creditors to
consider and vote on the Plan (the "Creditors' Meeting Order").
Pursuant to the Plan, it is intended that, among other things, Adanac's notice
of articles and articles will be amended to increase its authorized share
capital, and that the Company's existing shares will be consolidated at a rate
of 150:1. New shares will be then be issued to allow an allocation of shares to
the Senior Secured Noteholders (92%) and the Affected Unsecured Creditors (5%)
in full and final satisfaction of their claims, and the retention by existing
shareholders of 3% of Adanac's Outstanding Common Shares. Affected Unsecured
Creditors with claims equal to or less than $50,000, or reduced (for
distribution purposes only) at their election to $50,000, will receive a cash
distribution in an amount equal to the lesser of 10% of their claims and $5,000
in full and final satisfaction of their claims, unless they elect to receive
their pro rata share of 5% of Adanac's Outstanding Common Shares as outlined
above.
In accordance with the conditions of the Restructuring Term Sheet entered into
among the Company and certain of the Senior Secured Noteholders, Adanac will
ask the Court to order that Adanac is not required to hold a meeting of its
shareholders for the purposes of considering and voting on either the Plan or
the proposed amendments to the Company's notice of articles and articles.
Any shareholder that wishes to take a position on the Company's application
for the Creditors' Meeting Order may attend at the Courthouse at 800 Smithe
Street, Vancouver, British Columbia at 9:00 on Monday, October 18, 2010 to make
their position known.
Information and documents relating to the Plan and the Creditors' Meeting
Order will be published shortly on the website of Adanac's Court-appointed
Monitor, KPMG Inc.: www.kpmg.ca/adanac.
About Adanac Molybdenum Corporation
Adanac Molybdenum Corporation is listed on the TSX and Frankfurt exchanges and
owns the Ruby Creek Project in northern British Columbia. The Company has
advanced the project through feasibility studies, a production decision and has
previously ordered long-lead equipment, completed permitting for construction,
constructed a road to the site and secured US$80 million in bridge financing.
Cautionary Notice: This news release contains "forward-looking information"
within the meaning of applicable Canadian securities legislation and United
States securities laws. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as "plans",
"expects", or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates", or "does not anticipate",
or "believes" or variations of such words and phrases or statements that
certain actions, events or results "may", "could", "would", "might", or "will
be taken", "occur", or "be achieved". Forward-looking information is based on
the opinions and estimates of management at the date the information is made,
and is based on a number of assumptions and subject to a variety of risks and
uncertainties and other factors that could cause actual events or results to
differ materially from those projected in the forward looking information. Many
of these assumptions are based on factors and events that are not within the
control of the Company and there is no assurance they will prove to be correct.
Factors that could cause actual results to vary materially from results
anticipated by such forward looking information include risk factors discussed
in the Annual Information Form for the year ended April 30, 2008 for the
Company available at www.sedar.com. Although the Company has attempted to
identify important factors that could cause actual actions, events or results
to differ materially from those described in forward-looking information, there
may be other factors that cause actions, events or results not to be
anticipated, estimated or intended. There can be no assurance that
forward-looking information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such
information. The Company undertakes no obligation to update forward-looking
information if circumstances or management's estimates or opinions should
change except as required by applicable securities laws. The reader is
cautioned not to place undue reliance on forward-looking information.
These securities have not been and will not be registered under the United
States Securities Act of 1933, as amended, or any state securities law, and may
not be offered or sold in the United States unless an exemption from
registration is available.
swissree
14 years ago
e: News Release - Thursday, October 14, 2010
Title: Bactech Closes Debenture Financing
Toronto, Canada, October 14, 2010 -- BacTech Mining Corporation ("BacTech" or the "Company", TSX.V: BM) announces that it has closed the private placement of units announced on September 7, 2010 for gross proceeds of $430,000 (the "Offering"). Each unit is comprised of a $10,000 unsecured convertible debenture, maturing on October 13, 2011 (the "Maturity Date"), and 100,000 warrants. Each warrant entitles the holder to acquire one common share of the Company at an exercise price of $0.12 until October 13, 2011. The securities issued in connection with the private placement are subject to a statutory four-month hold period that expires February 14, 2011.
The convertible debentures may be converted by the holders at any time at a price of $0.10 per common share (the "Conversion Price"). In the event that the closing price of the Company's common shares on the TSXV is at or greater than $0.15, the Company shall have the right, in its sole discretion, to redeem the convertible debentures through the issuance of common shares at the Conversion Price. The interest rate on the convertible debentures will be 1.5% per month, which shall be paid semi-annually. The private placement is subject to requisite regulatory approval, including the final approval of the TSX Venture Exchange. The proceeds will be used for ongoing project evaluation and working capital.
The Company also announces that it will mail the Management Information Circular on October 22 to shareholders of record at September 27. Shareholders will be asked to vote on the Company's proposed Plan of Arrangement at a Special Shareholders Meeting. The date for this meeting has been changed to November 12 from October 28, as originally announced in a news release dated September 7.
BACTECH PROFILE
BacTech owns patented bacterial oxidation technology for the treatment of refractory ores and concentrates to enhance the recovery of gold, silver and base metals. The Company's initial focus is the acquisition of equity positions in projects amenable to bioleaching.
- 30 -
For further information contact:
Ross Orr, President & CEO: 416-813-0303 ext 222
Email: info@bactech.com
Shares outstanding 132,943,039
Neither the 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.
SPARK
14 years ago
Canadian Orebodies Inc. (TSX VENTURE:CO) ("Orebodies") is pleased to announce assay results from grab samples taken from 5 of its Lithium/Rare Metals properties all located in Ontario. The properties are owned 100% by Orebodies (subject to a 2% NSR, 50% of which can be purchased by Orebodies for $1,000,000).
Highlights
- Grab H467577 on the Falcon Property assayed
- 2.82% Li20
1,820 ppm Rb
153 ppm Be
218 ppm Cs
60.8 ppm Nb
41.2 ppm Ta
- Grab H467583 on the Despard Property assayed
- 3.66% Li20
570 ppm Rb
18.4 ppm Be
185 ppm Cs
97.6 ppm Nb
greater than 100 ppm Ta
- Grab H181060 on the Greenbush Property assayed
- 1.96% Li20
750 ppm Rb
171 ppm Be
170.5 ppm Cs
105 ppm Nb
48.9 ppm Ta
Lithium and Rare Metals Properties Overview
Grab samples collected during Orebodies work program late last year have yielded high grade lithium from 3 of Orebodies lithium/rare metals properties. Results from the work done on the properties indicate there are several zones of strong lithium enrichment which contain significant quantities of rare metals (rubidium, tantalum, beryllium, niobium, cesium and gallium). Gordon Mckinnon, President and CEO commented "We are very encouraged by these initial assays from our grab samples and are anxious to begin a work program this spring to follow up on these results".
Orebodies is in the process of compiling further assay results which are being received from channel sampling that was also completed on the Falcon Property and will be released upon completion.
About the Properties:
Falcon lake and Despard Property:
The Falcon Lake property (60 claim units) and the Despard property (16 claim units) are both located in the general area of Linear Metals Corp. (TSX:LRM) Seymour Lake Lithium/Tantalum/Beryllium Property, approximately 60 km northeast of Armstrong, Ontario.
TABLE 1 - ASSAYS FOR FALCON LAKE PROPERTY
---------------------------------------------------------------
Sample # Li20 Rb Be Cs Ga Ta Nb
(%) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm)
---------------------------------------------------------------
H467577 2.82 1,820 153 218 78 41.2 60.8
---------------------------------------------------------------
H467585 2.45 1,940 245 190 63.4 28.8 61.2
---------------------------------------------------------------
H467578 2.30 2,580 126.5 339 75.8 76.1 53.9
---------------------------------------------------------------
H467586 2.26 1,640 118 109 64.9 20.8 54.7
---------------------------------------------------------------
H467576 1.5 3,420 143.5 175 57.1 33.7 68.4
---------------------------------------------------------------
H467561 1.43 2,790 333 175.5 65.3 46.9 74.4
---------------------------------------------------------------
H467562 1.11 2,900 144.5 94.9 48.9 65 75.2
---------------------------------------------------------------
H467556 1.00 3,750 167 420 59.9 58.3 53.9
---------------------------------------------------------------
TABLE 2 - ASSAYS FOR DESPARD LAKE PROPERTY
------------------------------------------------------------------------
Li20 Rb Be Cs Ga Ta Nb
Sample # (%) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm)
------------------------------------------------------------------------
greater
H467583 3.66 570 18.4 185 113 than 100 97.6
------------------------------------------------------------------------
H467584 3.06 1,010 100.5 336 105.5 97.5 39.7
------------------------------------------------------------------------
Greenbush Property:
The Greenbush property consists of 15 claim units and is located approximately 113 km northwest of Armstrong, Ontario in a relatively unexplored area.
TABLE 3 - ASSAYS FOR GREENBUSH LAKE PROPERTY
-------------------------------------------------------------
Li20 Rb Be Cs Ga Ta Nb
Sample # (%) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm)
-------------------------------------------------------------
H181060 1.96 750 171 170.5 36.2 48.9 105
-------------------------------------------------------------
H181064 1.58 228 70.8 48.3 36 25.4 53.8
-------------------------------------------------------------
H181059 1.19 580 139 156 25.6 21.3 32.9
-------------------------------------------------------------
H181061 0.85 3,110 159 490 24.7 36.1 109
-------------------------------------------------------------
Assay results for Vegan and Niemi South property
The Vegan and Niemi South properties are both located approximately 150 km northeast of Thunder Bay in an area which is host to numerous known Lithium deposits and REE bearing pegmatites including those held by Lithium One Inc. (TSX VENTURE:LI) and TNR Gold Corp. (TSX VENTURE:TNR). Access was difficult to these properties and the historic deposits were not located in the short time the exploration crew had before snow cover ended the possibility of further surface mapping and sampling. However, 20 grab samples were taken from the properties which yielded anomalous values of Li20 and other rare metals. More work is planned on these properties in the spring which will consist of further mapping and sampling to locate and verify the historic deposits indicated in the Ontario Department of Mines, Geological Report No. 31, Georgia Lake Area, by E.G. Pye, 1965.
All samples were submitted to ALS and analyzed using four acid digestion and ICP-AES and ICP-MS. For more information on assay methodology please visit the ALS Laboratory Group. Website at http://www.alsglobal.com.
This press release has been prepared under the supervision of Neil Pettigrew M.Sc. P.Geo. of Fladgate Exploration Consulting Corporation, who is an independent consultant to the Company and a "qualified person" (as such term is defined in National Instrument 43-101). Mr. Pettigrew has verified the technical data disclosed in this press release.
SPARK
14 years ago
NEWS: Orebodies to Acquire 80% Interest in Zigzag Lithium/Rare Metals Property
TORONTO, ONTARIO, Mar 04, 2010 (MARKETWIRE via COMTEX News Network) --
Canadian Orebodies Inc. (TSX VENTURE: CO) ("Orebodies") is pleased to announce that it is has entered into an Option Agreement (the "Option") with Ultra Lithium Inc. ("Ultra") and the underlying property owners (the "Owners") to acquire an 80% legal and beneficial interest (subject to a 2% NSR retained by the Owners, 50% of which can be purchased by Orebodies for $1,000,000) in the Zigzag Lithium, Tantalum, Beryllium, Gallium property (the "Property"). The Property in total consists of 129 claim units comprising 2,064 hectares, located approximately 60 km northeast of Armstrong, Ontario.
About the Property:
The Property is tied directly onto Linear Metals Corp. (TSX: LRM) Seymour Lake Lithium/Tantalum/Beryllium property and is in the general area of Orebodies' Falcon and Despard Lithium properties.
This is a key property acquisition for Orebodies that holds great potential in this very prospective lithium/rare metal pegmatite field. The Property significantly adds to Orebodies land position by nearly doubling its interest in the area again and bringing Orebodies total land holdings to over 4,300 hectares.
The property hosts 5 different showings of interest as listed below:
Tebishogeshik-- Consists of sub parallel pegmatite lenses(i)-- Channel cuts across No. 2 lens averaged 1.28 percent Li2O across 32 feet (Hoiles 1958)(i)-- The No. 4 lens has been channel-sampled at intervals throughout a length of 500 feet. According to Hoiles (1958), it averages 1.65 percent Li2O across a mean width of 22 feet(i)-- Breaks (2003) stated that the majority of the tantalum-oxide minerals in the Crescent Lake pegmatite group are manganotantalite. Individual analysis of manganotantalite from Tebishogeshik Lens 3 exceeded 80 weight % Ta2O5 and were amongst the highest documented in lithium-rich pegmatite of Ontario.Dempster East-- Six channel samples were cut across the deposit by Dempster Explorations Limited. These samples indicated an average grade of 1.88 percent Li2O (Hoiles 1958).(i)-- Three samples, cut near the southeast end of the occurrence averaged 1.78% Li20 across a width of 4.1 m.(i)Dempster L28-- Similar mineralogy as Tebishogeshik, contains prismatic spodumene crystals up to 10 cm in length(i)Ketchican Road Beryl Occurance-- muscovite bulk sample revealed anomalous levels of most rare metals; Lithium, Cesium, Tin, Niobium and Tantalum.(ii)-- this beryl occurrence could be part of a larger, zoned, rare-element pegmatite dike swarm.(ii)Bird River Potential No. 1-- Dr. Anderson (1975) stated that geochemical sampling of the host rocks adjacent to the lithium rich pegmatite zones showed a dramatic increase in the trace lithium content.(i) (historical in nature and not 43-101 compliant and therefore should not be relied upon - the grade and tonnage estimates for the deposits was taken from the Ontario Department of Mines, Geological Report No. 55, Crescent Lake Area, by E.G. Pye, 1968).(ii) (historical in nature and not 43-101 compliant and therefore should not be relied upon- the information was taken from Open File Report 6195, Fertile and Peraluminous Granites and Related Rare-Element Mineralization in Pegmatites, North- Central and Northeastern Superior Province, Ontario by F.W. Breaks, J.B. Selway and A.G. Tindle 2006)
In order to earn its interest in the Property, Orebodies is required to:
1. Pay to Ultra $100,000 over a 4 year period.2. Issue to Ultra an aggregate amount of 650,000 common shares of Orebodies over a 4 year period and issue to the Owners an aggregate amount of 150,000 common shares of Orebodies on TSXV approval.3. Fund $350,000 of exploration expenditures on the property over a 4 year period.
This press release has been prepared under the supervision of Mr. Don Hains (P.Geo.)., who is an independent consultant to the Company and a "qualified person" (as such term is defined in National Instrument 43-101). Mr. Hains has verified the technical data disclosed in this press release.
Closing of the transaction remains subject to the approval of the TSX Venture Exchange.
Forward Looking Information:
Some of the statements and information contained herein may be forward-looking information which involve known and unknown risks and uncertainties, including statements respecting the proposed acquisition of the claim units pursuant to the option. Without limitation, statements regarding the potential option of the claims, statements regarding potential mineralization and resources, proposed exploration activities and future plans and objectives of Orebodies are forward looking statements that involve various degrees of risk. The following are important factors that could cause Orebodies actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, the uncertainty of access to capital. In particular, there can be no assurance that the option will be fulfilled and a definitive joint venture agreement will be entered into, that TSX Venture Exchange approval of the purchase will be obtained, or that Orebodies will undertake any or all of the payments or issuances necessary to complete the purchase.
Contacts: Canadian Orebodies Inc. Gordon McKinnon President & CEO (705) 268-9000 www.canadianorebodies.com
SOURCE: Canadian Orebodies Inc.
http://www.canadianorebodies.com
SPARK
14 years ago
CANADIAN OREBODIES INC. ("CO")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: January 18, 2010
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect
to a Non-Brokered Private Placement announced December 21, 2009 and
December 31, 2009:
Number of Shares: 4,195,333 flow-through shares and
1,540,000 non flow-through shares
Purchase Price: $0.12 per flow-through share
$0.10 per non flow-through share
Warrants: 2,867,666 share purchase warrants to
purchase 2,867,666 shares
Warrant Exercise Price: $0.20 for a two year period
Number of Placees: 13 placees
Finder's Fee: An aggregate of $46,995 in cash and
510,200 finders' warrants payable to
Limited Market Dealer, Pope & Company
Limited, Octagon Capital Corporation, All
Group Financial Services and CIBC World
Markets Inc. Each finder's warrant
entitles the holder to acquire one unit at
$0.12 for a two year period.
Note that in certain circumstances the Exchange may later extend the
expiry date of the warrants, if they are less than the maximum
permitted term.
SPARK
14 years ago
Orebodies Closes Final Tranche of Non-Brokered Private Placement
TORONTO, ONTARIO -- (Marketwire) -- 12/31/09 --
Canadian Orebodies Inc. (TSX VENTURE: CO)(the "Company") is pleased to announce that it has closed on its second and final tranche of a non-brokered private placement (the "Financing") for aggregate gross proceeds of $257,440 through the sale of 540,000 units of securities of the Company (each, a "Unit") at a price of $0.10 per Unit and 1,695,333 "flow-through" units of the Company (each, a "Flow-Through Unit") at a price of $0.12 per Unit
Each Unit is comprised of one common share of the Company (each, a "Common Share") and one-half of one Common Share purchase warrant of the Company (each such whole Common Share purchase warrant, a "Warrant"). Each Warrant entitles the holder thereof to purchase one Common Share for a period of 24 months from the closing of the Financing (the "Closing Date") at an exercise price of $0.20 per Common Share provided, however, that the expiry date of the Warrants may be accelerated, at the option of the Company, if the closing price of the Common Shares on the TSX Venture Exchange or such other exchange, market or trading or quotation facility in Canada exceeds $0.30 for a period of 20 consecutive trading days, commencing any time after the date that is four months and one day after the Closing Date, by giving notice to the holders thereof, in which case the Warrants will expire on the twentieth business day after the date on which such notice is given by the Company
Each Flow-Through Unit is comprised of one Common Share issued on a "flow-through" basis pursuant to the Income Tax Act (Canada) and one-half of one Warrant
The Company paid cash finders' fees in the aggregate amount of $18,995.20 and granted non transferable options (each, a "Finders Option") to purchase an aggregate of up to 203,533 units of the Company (each, a "Finders Unit"). Each Finders Option entitles the holder thereof to purchase one Finders Unit for a period of 24 months from the date of issuance at an exercise price of $0.12. Each Finders Unit will be comprised of one Common Share and one half of one Common Share purchase warrant (each such whole Common Share purchase warrant, a "Finders Unit Warrant"). Each Finders Unit Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $0.20 per Common Share for a period of 24 months from the Closing Date
The securities issued by the Company in connection with this offering are subject to a statutory hold period which expires on May 1, 2010
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release
Contacts: Canadian Orebodies Inc
Gordon McKinnon President & CEO (705) 268-9000 www.canadianorebodies.com
SPARK
14 years ago
Mr. Donald D. McKinnon
Chairman of the Board
With more than 45 years of experience in the international mineral exploration industry, Mr. McKinnon is renowned for the discovery of Hemlo, one of Canada's largest and richest gold mining camps. Around the mining world he is greatly respected and famed for his research and extensive library. A fierce advocate for multiple land use, Mr. McKinnon was named prospector of the year in 1983, received the Order of Canada in 1996 and the Queen's Golden Jubilee Medal in 2002. Mr. McKinnon, in addition to Canadian Orebodies, is the President of McKinnon Prospecting Ltd., a private mineral prospecting company and sits on the board of directors of PhosCan a bankable-feasibility stage phosphate company and the advisory board for Inter-Citic a China based gold exploration company as well as American Creek.
Gordon McKinnon
Chief Executive Officer, President and Director
Mr. McKinnon graduated with an Honours Bachelor degree in Management and Organizational Studies from the University of Western Ontario in 2006. He is currently serving as a principal of McKinnon Prospecting Ltd., a private exploration company, and as a director of PhosCan Chemical Corporation, a bankable-feasibility stage phosphate company. Mr. McKinnon has been exposed to all aspects of the exploration and mining business which has prepared him for his career in the industry. Mr. McKinnon provided his services to Baltic Resources for over 2 years, and moved to his role as Manager of Corporate Development. Due to his successes at Baltic, Mr. McKinnon was selected to act as the President, CEO and a Director of Orebodies.
Mr. John D. Harvey
Director
Mr. Harvey graduated with a Bachelor of Science degree in Geology from the University of New Brunswick in 1959. He has served as President and Chief Executive Officer of Hemlo Gold Mines Inc. from 1989 to 1991. He also held the position of President of Noranda Exploration Company Limited from May 1982 to October 1994. Mr. Harvey is currently a member of the Canadian Institute of Mining and Metallurgy and the Professional Engineers of Ontario. In the more recent years, Mr. Harvey has been engaged as a consulting geologist of J.D. Harvey & Associates.
--------------------------------------------------------------------------------
Mr. Chris Hodgson
Director
Mr. Hodgson entered provincial politics in 1994 and following the 1995 general election was appointed as Ontario's Minister of Natural Resources and Minister of Northern Development and Mines. Within this post, Mr. Hodgson was recognized for creating new opportunities and growth within the Ontario mining industry, as he introduced and proclaimed a New Mining Act. In addition, he preserved the Prospectors Assistance Program and launched Operation Treasure Hunt, which provided a $19 million boost to Ontario's geological surveys. In 1997, Mr. Hodgson was appointed as Chairman of the Management Board of Ontario and Deputy House Leader and following his re-election in 1999, was re-appointed Chairman of the Management Board of Cabinet. In 2001, Mr. Hodgson was named as Minister of Municipal Affairs and Housing. Mr. Hodgson has served as the President of the Ontario Mining Association since October 2004 and has served as the President of Chris Hodgson Enterprises since January 2003.
--------------------------------------------------------------------------------
Mr. Gordon J. Cyr
Director
Mr. Cyr has been involved in numerous world-class exploration drilling programs for over thirty years, including surface and underground field operations. Mr. Cyr has held senior management positions with Canadian-based Midwest Drilling and Major Drilling International Inc. Prior to his departure from Major Drilling International Inc. in 2003, Mr. Cyr was the General Manager of their North American operations. In May 2003, Mr. Cyr became a consultant to the industry, and in 2004 established Cyr Drilling International Ltd., a drilling consulting company for which Mr. Cyr is the President.
SPARK
14 years ago
Orebodies Completes Purchase of 100% Interest in 5 Lithium/Rare Metals Properties and Provides Project Update
All samples are currently being prepared to be sent out for assay, with results expected early in the New Year
TORONTO, ONTARIO -- (Marketwire) -- 12/17/09 --
Canadian Orebodies Inc. (TSX VENTURE: CO) ("Orebodies") is pleased to announce that it is has completed the purchase of 100% legal and beneficial interest (subject to a 2% NSR retained by the vendor, 50% of which can be purchased by Orebodies for $1,000,000) in 5 separate Lithium/Rare Metals properties (the "Properties") with an arm's length third-party vendor. The Properties in total consist of 111 claim units comprising 1,776 hectares, all which are located in Ontario
Project Update:
The previously announced work programs on the Properties which included detailed geological mapping and sampling across all 5 properties, mechanical stripping and systematic channel cuts across the Falcon West zone have now been successfully completed. All samples are currently being prepared to be sent out for assay, with results expected early in the New Year
Orebodies has cut small orientation grids over the showing areas on the Falcon property and have now commenced an orientation Gradiometeric Mag and VLF survey. It is further intended to conduct a resistivity survey over the orientation grids as conditions permit. The intention of the surveys is to determine the ability to trace and locate lithium bearing pegmatites by geophysical techniques for the purpose of distinguishing between pegmatite bearing veins and host rock
In addition, a small orientation down ice grid from the Falcon West was soil sampled to see if a Li bearing dispersal train could be detected from the showing area
More information regarding the Properties and locations is available on Orebodies website: www.canadianorebodies.com
Pursuant to the purchase, Orebodies has acquired 100% interest in the Properties by issuing an aggregate amount of 1,600,000 common shares of Orebodies and issuing 1,600,000 share purchase warrants, each warrant entitling the holder to acquire one common share of Orebodies at an exercise price of $0.15 per share for a period of two years from closing
The common shares of Orebodies issued are subject to a hold period until April 17, 2010
This press release has been prepared under the supervision of Mr. Don Hains (P.Geo.), who is an independent consultant to the Company and a "qualified person" (as such term is defined in National Instrument 43-101). Mr. Hains has verified the technical data disclosed in this press release
Forward Looking Information:
Some of the statements and information contained herein may be forward-looking information which involve known and unknown risks and uncertainties. Without limitation, statements regarding the, potential mineralization and resources, proposed exploration activities and future plans and objectives of Orebodies are forward looking statements that involve various degrees of risk. The following are important factors that could cause Orebodies actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, and the uncertainty of access to capital. In particular, there can be no assurance that the TSX Venture Exchange approval of the purchase will be obtained, or that Orebodies will undertake any or all of the payments or issuances necessary to complete the purchase
Contacts: Canadian Orebodies Inc
Gordon McKinnon President & CEO (705) 268-9000 www.canadianorebodies.com
SPARK
14 years ago
MORE NEWS - Orebodies Expands Work Program on Lithium/Rare Metals Properties
11/19/2009
Canadian Orebodies Inc. (TSX VENTURE: CO)("Orebodies") is pleased to announce that it has expanded the previously announced work program on its newly acquired Lithium/Rare Metals properties (the "Properties"). Due to better than expected weather conditions Orebodies has been able to extend and expand the work programs which it previously announced in Orebodies Press Release dated November 9, 2009.
The expanded program will include mechanical stripping on the Falcon property, focusing on the West deposit, to better expose and trace the zone which will be followed up with systematic channel sampling. Also, a third crew has been mobilized to the Greenbush property to commence detailed geological mapping and sampling. Having this additional crew made available means that work is now able to commence on all 5 of the newly acquired Properties, which will allow for the collection of information that will enable Orebodies to continue with its exploration and evaluation of the Properties over the winter months.
In order to complete the purchase of 100% interest in the Properties (subject to a 2% NSR retained by the vendor, 50% of which can be purchased by Orebodies for $1,000,000), Orebodies is required to issue an aggregate amount of 1,600,000 common shares of Orebodies and issue 1,600,000 share purchase warrants, each warrant entitling the holder to acquire one common share of Orebodies at an exercise price of $0.15 per share for a period of two years from closing. More information regarding the Properties can be found in Orebodies Press Release dated October 22, 2009.
Closing of the transaction remains subject to the approval of the TSX Venture Exchange and the execution of a definitive purchase agreement.
Forward Looking Information:
Some of the statements and information contained herein may be forward-looking information which involves known and unknown risks and uncertainties, including statements respecting the proposed acquisition of the claim units pursuant to the purchase. Without limitation, statements regarding the potential purchase of the claims, statements regarding potential mineralization and resources, proposed exploration activities and future plans and objectives of Orebodies are forward looking statements that involve various degrees of risk. The following are important factors that could cause Orebodies actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, the uncertainty of access to capital. In particular, there can be no assurance that the definitive purchase agreement will be entered into, that TSX Venture Exchange approval of the purchase will be obtained, or that Orebodies will undertake any or all of the payments or issuances necessary to complete the purchase.
Contacts: Canadian Orebodies Inc. Gordon McKinnon President & CEO (705) 268-9000 www.canadianorebodies.com
SOURCE: Canadian Orebodies Inc.
http://www.canadianorebodies.com
Copyright 2009 Marketwire, Inc., All rights reserved.
SPARK
14 years ago
NEWS - Orebodies Contracts Lithium Expert
TORONTO, ONTARIO -- (Marketwire) -- 11/18/09 -- Canadian Orebodies Inc. (TSX VENTURE: CO) (the "Company") is pleased to announce that Don Hains, P. Geo., MBA has been contracted by the Company to oversee and provide his lithium and rare metals expertise to all of the Company's lithium exploration programs and acquisitions.
Mr. Hains is a registered professional geoscientist specializing in the economic geology, processing and markets for industrial minerals. Mr. Hains is President of Hains Engineering Company Ltd and a Principal of Hains Technology Associates. He has more than 25 years experience in research, product and market development, economic analysis and geological exploration related to industrial minerals.
Mr. Hains has extensive experience in the evaluation of lithium deposits, both hard rock and salars (brines), and in the analysis of lithium supply and demand. He has evaluated lithium deposits in China, Canada, Argentina, Peru and Zimbabwe and has undertaken a number of reviews of lithium supply and demand as well as presenting at several major minerals conferences.
Gordon McKinnon, Orebodies President and CEO commented, "We are extremely pleased to have Mr. Hains work with us on our new lithium projects. He has an extensive knowledge base which will allow us to fine tune our acquisition and exploration programs to ensure we only target quality projects with real growth potential."
Contacts:
Canadian Orebodies Inc.
Gordon McKinnon
President & CEO
(705) 268-9000
www.canadianorebodies.com
SPARK
14 years ago
Orebodies Commences Work on Lithium/Ree Properties
TORONTO, ONTARIO -- (Marketwire) -- 11/09/09 -- Canadian Orebodies Inc. (TSX VENTURE: CO) ("Orebodies") is pleased to announce that it has commenced work on four of its newly acquired Lithium/REE properties (the "Properties"). Orebodies has mobilized two crews to begin work on four of the five Properties in which it recently signed an LOI to acquire 100% legal and beneficial interest (subject to a 2% NSR retained by the vendor, 50% of which can be purchased by Orebodies for $1,000,000) on October 22, 2009.
One crew has been mobilized to cover the Falcon and Despard Properties and a second to work the Vegan and Niemi South Properties. The work will consist of detailed geological mapping and sampling across the claims to qualify historic results and obtain sufficient information to conduct further work programs during the winter months.
In order to complete the purchase of 100% interest in the Properties (subject to a 2% NSR retained by the vendor, 50% of which can be purchased by Orebodies for $1,000,000), Orebodies is required to issue an aggregate amount of 1,600,000 common shares of Orebodies and issue 1,600,000 share purchase warrants, each warrant entitling the holder to acquire one common share of Orebodies at an exercise price of $0.15 per share for a period of two years from closing. More information regarding the Properties can be found in Orebodies Press Release dated October 22, 2009.
Closing of the transaction remains subject to the approval of the TSX Venture Exchange and the execution of a definitive purchase agreement.
Forward Looking Information:
Some of the statements and information contained herein may be forward-looking information which involve known and unknown risks and uncertainties, including statements respecting the proposed acquisition of the claim units pursuant to the purchase. Without limitation, statements regarding the potential purchase of the claims, statements regarding potential mineralization and resources, proposed exploration activities and future plans and objectives of Orebodies are forward looking statements that involve various degrees of risk. The following are important factors that could cause Orebodies actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, the uncertainty of access to capital. In particular, there can be no assurance that the definitive purchase agreement will be entered into, that TSX Venture Exchange approval of the purchase will be obtained, or that Orebodies will undertake any or all of the payments or issuances necessary to complete the purchase.
Contacts:
Canadian Orebodies Inc.
Gordon McKinnon
President & CEO
(705) 268-9000
www.canadianorebodies.com
SPARK
14 years ago
Orebodies to Acquire 100% Interest in 5 Lithium/REE Properties
TORONTO, ONTARIO -- (Marketwire) -- 10/22/09 -- Canadian Orebodies Inc. (TSX VENTURE: CO) ("Orebodies") is pleased to announce that it is has entered into a Letter of Intent ("LOI") to acquire 100% legal and beneficial interest (subject to a 2% NSR retained by the vendor, 50% of which can be purchased by Orebodies for $1,000,000) in 5 separate Lithium/REE properties (the "Properties"). The Properties in total consist of 111 claim units comprising 1,776 hectares, all which are located in Ontario.
About the Properties:
The Vegan and Niemi South properties are both located approximately 150 km northeast of Thunder Bay in an area which is host to numerous known Lithium deposits and REE bearing pegmatites including those held by Lithium One Inc. (TSX VENTURE: LI) and TNR Gold Corp. (TSX VENTURE: TNR).
Vegan Property:
The Vegan property consist of 16 claim units and covers the Vegan lithium deposit which is considered as the extension of and tied directly onto the Newkirk lithium deposit reported to host 750,000 tons of pegmatite estimated to have an average grade of 1.38 percent Li20(i). Historical results on the property include:
- The Vegan No. l deposit has been traced in outcrops and in 19 diamond drill holes, aggregating 2,423.3 feet, over a length of about 700 feet(i).
- the central Lithia rich section of the deposit, reported on the basis of surface sampling to average 1.5 percent Li2O over a length of about 200 feet(i).
Niemi South Property:
The Niemi South Property consist of 16 claim units which tie directly onto the southern boundary of the Niemi Lithium deposit held by TNR Gold Corp.. Historical results on TNR's Niemi include:
- Drill hole which intersected 15.5 feet of pegmatite averaging 1.02 percent Li20; and the central section, 5 feet in core length, was found on analysis to contain 2.0 percent Li20(i).
(i)(historical in nature and not 43-101 compliant and therefore should not be relied upon - the grade and tonnage estimates for the deposits was taken from the Ontario Department of Mines, Geological Report No. 31, Georgia Lake Area, by E.G. Pye, 1965).
The Falcon Lake and Despard properties are both located in the general area of Linear Metals Corp. (TSX: LRM) Seymour Lake Lithium/Tantalum/Beryllium Property, approximately 60 km northeast of Armstrong, Ontario.
Falcon Lake Property:
The Falcon lake property consists of 48 claim units which cover 3 historic lithium deposits known as the Falcon Discovery, Falcon East and Falcon West. Historical results on the deposits include:
- Falcon East - One drill hole which encountered 18 feet of pegmatite, which was found on analysis to average 1.13 percent Li2O (Donaldson 1956)(ii).
- Falcon West - One hole intersected 60 feet of pegmatite, of which 35 feet was found to average better than 1.0 percent Li20 (Donaldson 1956)(ii).
Despard Property:
The Despard property consists of 16 claim units which cover the Despard Lithium deposit. Historical results on the deposit include:
- One drill hole cored 30.2 feet of unaltered spodumene pegmatite, of which 20.0 feet was found on analysis to average 1.68 percent Li20(ii).
- A second drill hole cored 63.5 feet of unaltered spodumene pegmatite, including two sections, one 6.6 feet long, the other 9.0 feet long, grading 1.70 and 1.53 percent Li2O respectively (Middleton 1959)(ii).
(ii)(historical in nature and not 43-101 compliant and therefore should not be relied upon - the grade and tonnage estimates for the deposits was taken from the Ontario Department of Mines, Geological Report No. 55, Crescent Lake Area, by E.G. Pye, 1968).
Greenbush Property:
The Greenbush property consists of 15 claim units and is located approximately 113 km northwest of Armstrong, Ontario and covers a known Lithium/REE occurrence in a relatively unexplored area. Historical results on the property include:
- A 50 foot chip sample returned 1.25% Li2O with trace REE's including beryllium, cesium and rubidium(iii).
- A grab sample taken in 1980 returned a value of 2.46% LiO2(iii).
(iii)(historical information, not 43-101 compliant and therefore should not be relied upon was obtained from archived files and reports obtained from the Ontario Ministry of Northern Development and Mines (MNDM).)
In order to complete the purchase of 100% interest in the Property, Orebodies is required to issue an aggregate amount of 1,600,000 common shares of Orebodies and issue 1,600,000 share purchase warrants, each warrant entitling the holder to acquire one common share of Orebodies at an exercise price of $0.15 per share for a period of two years from closing.
This press release has been prepared under the supervision of Mr. Don Hains (P.Geo.), who is an independent consultant to the Company and a "qualified person" (as such term is defined in National Instrument 43-101). Mr. Hains has verified the technical data disclosed in this press release.
Closing of the transaction remains subject to the approval of the TSX Venture Exchange and the execution of a definitive purchase agreement.
Forward Looking Information:
Some of the statements and information contained herein may be forward-looking information which involves known and unknown risks and uncertainties, including statements respecting the proposed acquisition of the claim units pursuant to the purchase. Without limitation, statements regarding the potential purchase of the claims, statements regarding potential mineralization and resources, proposed exploration activities and future plans and objectives of Orebodies are forward looking statements that involve various degrees of risk. The following are important factors that could cause Orebodies actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, the uncertainty of access to capital. In particular, there can be no assurance that the definitive purchase agreement will be entered into, that TSX Venture Exchange approval of the purchase will be obtained, or that Orebodies will undertake any or all of the payments or issuances necessary to complete the purchase.
Contacts:
Canadian Orebodies Inc.
Gordon McKinnon
President & CEO
(705) 268-9000
www.canadianorebodies.com
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