Conolidated Abaddon to begin drill program on Raleigh Lake Lithium Property
posted on Jan 26, 2010 04:45PM
Edit this title from the Fast Facts Section
Vancouver, BC - Consolidated Abaddon Resources Inc. (TSX-V: ABN) (FWB: E2L) (the "Company") announces that a winter 2010 drill program is scheduled to commence the first week of February on its recently acquired 560 acre Raleigh Lake Lithium project located in the Kenora Mining Division in Northwestern Ontario.
The Raleigh Lake Lithium property is ideally located 5 km south of the Trans Canada Highway equidistant between the towns of Dryden and Ignace, Ontario. Accessibility to the property is also readily available with infrastructure and power nearby.
Drilling on the Raleigh Lake Lithium and Tantalum zone is scheduled for February 2010. A phase one drill program consisting of 5 to 7 holes totalling approximately 1500 metres will be carried out by Rodren Drilling of Winnipeg, Manitoba. A detailed magnetometer survey was completed across the entire property in November 2009. Structural interpretations from the magnetic data are being used in targeting of the drill holes on the property.
Only a few shallow holes were drilled on the Raleigh Lake property by Avalon Ventures Ltd. in 1999 and 2000. Historic data available in the Ontario Government geological files reflect certain significant intersections below.
Hole # RL 99-01 0.56 % Li (lithium) over 3.2 metres
Hole # RL 99-04 1.00 % Li over 4.1 metres
Hole # RL 99-05 1.50 % Li over 6.9 metres
Lithium and Tantalum are associated with a shallow dipping pegmatite system that crosscut mafic volcanic rocks on the Raleigh Lake property. These volcanic rocks flank granitic intrusives. The structural elements from the magnetometer survey identify structural areas where "ground preparation" may have lead to thicker and more prospective sections of pegmatite. Several rock geochemical anomalies are aligned with interpreted structures in the general area of previous intercepts and will be further tested.
The Raleigh Lake lithium-bearing pegmatites have been known in the area since the 1960s. Ontario Provincial Government mapping in the 1990s identified a pegmatite field trending through the area. A very modest drill program conducted by Avalon Ventures Ltd. in 1999 and 2000 defined several stacked shallow dipping (20 to 30 degrees) lithium bearing dikes in several drill holes. Thicknesses ranged from one to eight metres and were shown to continue 450 metres down dip. Drill holes were relatively shallow and broadly spaced. The pegmatites appear very uniform at the spacing used and occur in volcanic rock flanking granitic intrusions.
Click Here for Raleigh Lake lithium property map
Consolidated Abaddon has approximately $2.3 million in its treasury and no debt.
David Busch, BA, BSc, PGeo, is the qualified person under the meaning of National Instrument 43-101 and has reviewed the data in this news release.
About Consolidated Abaddon Resources Inc.:
Consolidated Abaddon Resources Inc. is a Canadian exploration company actively involved with the development of uranium and lithium properties in the Athabasca Basin of northern Saskatchewan and in northwestern Ontario.
ON BEHALF OF THE BOARD OF DIRECTORS
JAMES G. PETTIT
For further information contact myself or:
Consolidated Abaddon Resources Inc.
Toll Free: 800-567-8181
Email: [email protected]
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
This news release may contain certain "Forward-Looking Statements" that may involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. For a more detailed discussion of such risks and other factors, refer to the Company's filings with Canadian Securities regulators available on www.sedar.com.
You can also view this News Release on our website at: