(PRZCF.OTCBB) (PH0.FRANKFURT) (TSXV.PHE)
VANCOUVER, March 17 /PRNewswire-FirstCall/ - The Company is
pleased to announce that it has retained Mercator Geological
Services Limited to expedite the completion of a 43-101 report on
the Brazil Lake Lithium and Rare Metals Property. Upon receipt of
the 43-101 report expected within the next 45 days, the company
will announce its 2010 work program immediately thereafter.
Mercator Geological Services Limited is based in Dartmouth, Nova Scotia and has extensive
experience with local Nova Scotia
geology including the granitic intrusions similar in age to those
that are thought to be associated with Brazil Lake Lithium Rare
Metals Property.
An initial site visit was recently conducted in early March
attended by Mercator geologist, Mike
Cullen and Petro Horizon's president, Ron Bourgeois. The trip also included several
meetings with community and business leaders and well as meetings
with the Nova Scotia Department of Natural Resources.
Petro Horizon president, Ron
Bourgeois stated, "My initial impression is there is
significant support from both the provincial government and the
local mining industry in our proposed endeavour at Brazil Lake."
To see photos of the trip, click here: http://www.tr.im/S8ne
About Brazil Lake Lithium Rare Metals Project
The 3,160 acre property that is yet to be diligently explored by
the company, is located approximately 30 Kilometers north of
Yarmouth, Nova Scotia and 12
kilometers west of the Avalon Rare Metals (AVL) East Kemptville
Project. Drilling to date on the Property has successfully revealed
two Lithium bearing pegmatite dikes in addition to a host of other
rare metals such as tantalum, niobium, beryllium, tungsten tin and
rubidium. Metallurgical bench testing to date has also revealed
other potential economic targets include cosmetic grade mica,
silica chloride, aluminum chloride and rubidium enriched potassium
feldspar.
The two identified lithium and rare metal bearing pegmatite
dikes that appear at surface have been defined by drilling to be up
to 20 meters wide and having exposed lengths up to 300 meters long.
The deepest drill hole intersected the dikes at 50 meters depth.
Both pegmatites remain open at depth and future drilling in the
upcoming work program will attempt to extend the depth of the dikes
to a minimum of 100 meters.
The signature dispersal train of pegmatite boulders identifying
the currently drilled pegmatites will assist in identifying three
other boulders fields indicating potential pegmatite targets.
Geochemical surveys have also assisted in the identification of
these additional targets. It is well known that pegmatites occur in
swarms and therefore, the company, in addition to the drilling
program on the currently established two dikes, plans to carry out
a detailed prospecting program to source other potential
targets.
Lithium on the property is hosted by the mineral spodumene which
makes up approximately 14 to 20% of the pegmatites. The lithium
oxide (Li(2)O) content in the spodumene is approximately 7.4% to
7.7%.
The Contained Rare Metals
On March 2nd, the Company
announced assay results from the drill holes that addressed the
rare metals contained within the pegmatites. These included
rubidium ("Rb"), beryllium ("Be") and tantalum ("Ta"). Examples of
the grades included Hole # 02-15 in the lithium pegmatites which
returned values up to 1398 parts per million ("ppm") Rb over 15.3
meters including 2625 ppm Rb over 4.2 meters. Hole # 02-24 in the
lithium pegmatites returned values up to 200 ppm Be over 35.8
meters including 304 ppm Be over 14.9 meters. Hole # 93-2 in the
lithium pegmatites returned values up to 102 ppm Ta over 24 meters
including 541 ppm Ta over 1.0 meter. Metallurgy regarding the rare
metals was addressed in previous metallurgy work that was confirmed
at Dalhousie University. The results
were positive and encouraging and it is the company's intention to
release news on these results shortly.
John F. Wightman, M. Sc., FGAC,
P. Eng., a Qualified Person as defined by NI 43-101 is responsible
for the technical information contained in this release.
The company announces the granting of 50,000 stock options to a
consultant of Petro Horizon Energy Corp. The options shall be
exercisable at a price of $0.35 per
share and shall have a term of two years.
On Behalf of the board of directors,
"Ron Bourgeois"
Ron Bourgeois, President
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SOURCE Petro Horizon Energy Corp.