Tearlach Announces Acquisition of Strategic Property Extension to The Final Frontier Project in Ontario
11 Janeiro 2023 - 10:30AM
Tearlach Resources Limited (TSXV: TEA) (OTC: TELHF)
(FRANKFURT: V44) (“Tearlach” or the “Company”) is pleased to
announce the acquisition of the Pakwan Extension claim block which
is positioned contiguous with Frontier Lithium Inc. claim
block.
Acquisition Highlights -
Technical:
- The Pakwan Extension
claims have two mica granite to the north, west and south within
100 - 800 metres of claim boundaries; the western two mica granite
is the same one that hosts the PAK deposit
- The metasediments
are the same distance (1.0-1.5 km) from the muscovite-bearing
granite that hosts the PAK deposits as Frontier's Spark and Bolt
deposits
- Consists of 23 cell
claims and 452 hectares.
Morgan Lekstrom, CEO of Tearlach stated, “This
is another piece of the puzzle in the same geological trend as
Frontiers Spark and Pak Deposits adding to our Final Frontier
Project. Acquisitions like this are cost effective and give us a
stronger foothold and higher chance of major discovery within
Tearlach’s Final Frontier Project, north of Red Lake.”
The Pakwan Extension Property is located between
Tearlach’s Pakwan Property and Margot Property and is 1.8 km south
of the Pakwan Property. The Pakwan Extension Property is contiguous
with Frontier’s PAK Property. All three properties are within the
same North Spirit Lake greenstone belt on the Sachigo – Berens
River Subprovincial boundary as Frontier Lithium Inc. Li-Cs-Ta PAK
Property. The Pakwan and Pakwan Extension Properties are also
within and adjacent to the same Bear Head Fault Zone as the PAK
Property. All three Properties are in close proximity or contain
the same two-mica granite and metasedimentary rocks as the PAK
Pegmatite.
The Margot Property is hosted by a two-mica
granite with accessory garnet, tourmaline, and sericite. Ontario
Geological Survey identified a pegmatite outcrop on the south shore
of Margot Lake (OGS, P.3603, 2008).
The TransactionPursuant to the
Purchase Agreement, Tearlach acquires a 100% interest in the Pakwan
Extension claim block from an arm’s length third-party vendor for
the cash sum of $20,650 Canadian.
Qualified Person:Julie Selway,
Ph.D., P.Geo. reviewed and approved the technical disclosure in
this news release. Dr. Selway is the VP of Exploration for Tearlach
Resources and the Qualified Person ("QP") as defined by National
Instrument 43-101. Dr. Selway completed a Ph.D. on granitic
pegmatites in 1999 and worked for 3 years as a pegmatite
geoscientist for the Ontario Geological Survey. Dr. Selway has
worked on numerous pegmatites over the years including: Case Lake,
Gullwing-Tot Lakes, Separation Rapids, Georgia Lake and Seymour
Lake pegmatites. Dr. Selway has authored or co-authored
twenty-three scientific journal articles on pegmatites.
About Tearlach:
Tearlach is a Canadian exploration company
engaged in the acquisition, exploration and development of lithium
projects. Tearlach holds an interest in the Final Frontier Project,
which includes the Pakwan, Pakwan Extension and Margot Lake Claim
block, which is in close proximity to Frontier Lithium’s flagship
claims and proximal to the Spark and PAK deposits., Tearlach holds
interests in the Wesley, Harth and Ferland properties, all located
in the lithium hub of northwestern Ontario, Canada. The Wesley
Property borders Green Energy Metals’ Root Lake Project, where a
24,000 m drill program is currently underway. Pegmatite dykes have
- been encountered on the Harth Lithium Project, which is 8 kms
west of the Wesley Lithium Project. Prospecting and mapping have
confirmed pegmatite dykes on the Ferland Lithium Property, 10 km
east of Green Technology Metals’ Seymour Lake Project. Tearlach
intends to explore these assets and develop a portfolio of projects
in the Americas through acquisition. Tearlach’s primary objective
is to position itself as the leading lithium exploration and
development company in the Americas. Additional information on the
Company is available at the website at www.tearlach.ca.
ON BEHALF OF THE BOARD OF
DIRECTORS,TEARLACH RESOURCES LTD.
Morgan LekstromChief Executive OfficerSuite 610 - 700 W. Pender
StreetVancouver, BC, Canada V6C 1G8 Tel: 604-688-5007
www.tearlach.ca
www.tearlach.ca/contact/
Forward-looking statements
This press release contains forward-looking
statements and forward-looking information within the meaning of
Canadian securities laws (collectively, “forward-looking
statements”). Statements and information that are not historical
facts are forward-looking statements. Forward-looking
statements are frequently, but not always, identified by words such
as “expects”, “anticipates”, “believes”, “intends”, “estimates”,
“potential”, “possible” and similar expressions or statements that
events, conditions or results “will”, “may”, “could” or “should”
occur or be achieved. Forward-looking statements and the
assumptions made in respect thereof involve known and unknown
risks, uncertainties and other factors beyond the Company’s
control. Forward-looking statements in this press release include
statements regarding beliefs, plans, expectations or
intentions of the Company. Mineral exploration is highly
speculative, characterized by several significant risks, which even
a combination of careful evaluation, experience and knowledge may
not eliminate. Forward-looking statements in this press release are
made as of the date herein. Although the Company believes that the
assumptions and factors used in preparing the forward-looking
statements in this press release are reasonable, undue reliance
should not be placed on such statements. The Company undertakes no
obligation to update publicly or otherwise revise any
forward-looking statements, whether as a result of new information
or future events or otherwise, except as may be required by
law.
Neither the TSX Venture Exchange nor its Regulation Service
provided (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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