Consolidated Abaddon Drills 9 Metres 1.3% Lithium at Raleigh Lake Lithium and Rare Earth Project
Consolidated Abaddon Resources Inc. (TSX VENTURE:ABN) (FRANKFURT:E2L) (the "Company") has completed a seven hole, 1464 metre, diamond drilling program at its Raleigh Lake Lithium (Li) and Rare Earth Elements (REE) property located in the Kenora Mining Division in northwestern Ontario.
Assaying (SGS Laboratories) was done by completing a 55 element suite of minerals. Significant results from the phase one drilling include 9.0 metres of 1.30% Li in hole RL10-2, 4.7 metres of 0.84% Li in hole RL10-1 including 2.2 metres of 1.10% Li and 1.0 metre of 1.33% Li, 5.5 metres of 0.77% Li in hole RL10-3, 9.6 metres of 0.48% Li in hole RL10-5, and 5.7 metres of 0.48% Li in hole RL10-6.
President Jim Pettit stated: "We are encouraged and very pleased with the results from our initial drill program as they have confirmed and expanded the known lithium and REE zone on the property. Combining these results with Avalon's earlier drill results gives us a much clearer understanding of the regional geology and the emplacement of rare earth elements. We look forward to the second phase work program."
The phase one drill program was highly successful in confirming and expanding the known lithium and REE mineralization at the property. Pegmatite bodies were intercepted in all seven holes with several pegmatites of 10 to 11 metre thickness being found. The wall rocks to the pegmatites consist of a sequence of mafic volcanics and gabbroic intrusive bodies. These wall rocks are locally sheared, sericite altered and mineralized with pyrite, rhyolite and chalcopyrite. The majority of the intersected pegmatites bodies are rich in spodumene. Spodumene is a lithium bearing silicate mineral and is a common lithium ore mineral in pegmatite mines worldwide.
Only a few shallow holes were drilled on the Raleigh Lake property by the previous owner, 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 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
A litho geochemical survey completed on the property by Consolidated Abaddon has indicated several areas where tantalum, lithium and cesium anomalies are present. These areas are in structural zones related to intrusive granites, some of which are the 'two mica' type. The structures were identified from the ground magnetic surveys and have not yet been drill tested. Further work will focus on these prospective areas.
Average lithium grades from several developing lithium projects around North America range from about 0.25% Li to 1.50% Li. Lithium is a light, highly reactive metal with use in a variety of industrial applications including ceramics, lubricants and pharmaceuticals. The fastest growing market for lithium is as lithium carbonate for use in rechargeable batteries, including those in cell phones, computers and new generations of electric and hybrid vehicles. For every one unit of lithium in a cell phone battery there are 7 in a computer battery, 3,000 in a hybrid car and 7,000 in an electric car; the numbers works out to 9 to 30 kilograms of lithium oxide per car battery. Demand for lithium destined for battery usage is predicted to grow by 20% per year.
David Busch, BA, BSc, PGeo, Vice President of Exploration, 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 is a lithium, rare earth and uranium exploration company developing properties in northern Ontario and the Athabasca Basin of northern Saskatchewan.
For further information on Consolidated Abaddon Resources Inc. (TSX VENTURE:ABN), visit our Company's web site at www.consolidatedabaddon.com.