U.S. Lithium Resources Inc. is pleased to announce that significant progress is being made on the reprocessing and reinterpretation of the historical database at the Gochagar Lake project in Saskatchewan.
The results so far are very encouraging especially with the reprocessing of the 2009 VTEM airborne survey which has micro-leveled the survey and removed the significant flight line corrugations that plagued the original survey results. New channels and grids have been created in the database and Maxwell Plate Conductor modeling is underway. The significantly enhanced quality of the reprocessed VTEM data will greatly improve the resulting 3-D models as well as the Company's overall understanding of this cobalt-bearing massive sulphide deposit.
Eric Allison, Director and board geologist, commented "Dr. Larry Hulbert and his team at NiPtx are doing an outstanding job of improving the quality and usefulness of the historical data base at Gochagar. We look forward to his final interpretations and recommendations as we advance toward the completion of our initial 43-101 compliant report and the selection of locations for our first drill program."
The Gochagar Lake property has grades of up to 3.92% Nickel, 0.70% Copper and 2.86% Cobalt as reported by the Saskatchewan government (Mineral Property # 0880). Historical resource estimates (non-NI43-101 compliant) were generated in 1968 and 1990. The 1968 resource for the Gochagar deposit calculated 4.3 million tons grading 0.30% Ni and 0.08% Cu. J.S. Steel, reported in 1990, that vertical and longitudinal sections were constructed from the existing data and an orebody with reasonably well defined limits was defined containing 1,770,000 tones at 0.735 nickel-equivalent.
The Company is undertaking a complete digital compilation, reprocessing and reinterpretation of all available data in and around the Gochagar Lake area. It is utilizing all of the latest available technology and one of the world's leading massive sulphide experts to bring the project up to modern standards. This phase of the project is expected to be completed in 4 to 8 weeks with an initial NI 43-101 report and proposed drill program to follow shortly thereafter.