Solid Resources Announces Filing of NI 43-101 Technical Report on Alberta-1 Tin, Tantalum and Lithium Project
May 23 2014 - 4:00PM
Marketwired
Solid Resources Announces Filing of NI 43-101 Technical Report on
Alberta-1 Tin, Tantalum and Lithium Project
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 23, 2014) -
Solid Resources Ltd. ("Solid" or the "Company") (TSX-VENTURE:SRW)
is pleased to announce it has completed its National Instrument
43-101 Technical Report on the Alberta-1 property located in
north-western Spain. The report entitled "Solid Resources Ltd.,
Alberta-1 Rare Metals Project, Galicia, Spain, Mineral Resources,
NI 43-101 Technical Report", is dated May 23, 2014 and is prepared
by Mr. Stanley C. Bartlett, M.Sc., PGeo., of Micon International Co
Limited, in the United Kingdom.
Mineral Resource Estimate
Micon has generated the most recent mineral resource estimate
for the Alberta-1 Project dated May 15, 2014. This estimate
incorporates the latest drilling results from the 2012 drill
programme.
Alberta-1 mineral resources are defined by 46 drill holes
(4,676.05 m) covering the main Presqueiras deposit and a further 19
drill holes at the five Southern zones of Correa, Coto Tocayo,
Acebedo, Rubillón and Taboazas. The main Presqueiras deposit is
interpreted to comprise two principal zones, plus three subsidiary
zones of more limited continuity. The Southern area is subdivided
into the Acebedo, Correa, Coto Tocayo, Rubillón and Taboazas zones
comprising a total of 14 sill-like structures. The Presqueiras and
Southern zones remain open both along strike and down-dip.
A cut-off value of US$25 per tonne was selected to define
Alberta-1 mineral resources. No economic studies of the project
have been conducted and therefore it is possible that a different
cut-off value may be considered upon completion of an appropriate
engineering study. Table 1 summarises the mineral resource estimate
for the Alberta-1 project at a cut-off value of US$25 per
tonne.
Table 1:
Alberta-1 Mineral Resource Estimate as at 15th May 2014 |
Area |
Resource Classification |
|
Tonnage (Mt) |
|
Ta2O5 (ppm) |
|
Sn (ppm) |
|
Li2O (%) |
|
Ta2O5 (t) |
|
Sn (kt) |
|
Li2O (kt) |
Presqueiras |
Measured |
|
2.96 |
|
111 |
|
752 |
|
0.52 |
|
327 |
|
2.23 |
|
15.4 |
Indicated |
|
1.99 |
|
90 |
|
675 |
|
0.52 |
|
178 |
|
1.34 |
|
10.3 |
Presqueiras |
Inferred |
|
2.69 |
|
80 |
|
668 |
|
0.39 |
|
214 |
|
1.79 |
|
10.5 |
Acebedo |
Inferred |
|
3.68 |
|
122 |
|
955 |
|
0.41 |
|
449 |
|
3.51 |
|
15.1 |
Correa |
Inferred |
|
0.88 |
|
142 |
|
557 |
|
0.50 |
|
125 |
|
0.49 |
|
4.4 |
Coto Tocayo |
Inferred |
|
3.43 |
|
215 |
|
1,180 |
|
0.26 |
|
737 |
|
4.05 |
|
8.9 |
Rubillón |
Inferred |
|
0.20 |
|
202 |
|
1,212 |
|
0.04 |
|
39 |
|
0.24 |
|
0.1 |
Taboazas |
Inferred |
|
6.53 |
|
103 |
|
506 |
|
0.41 |
|
673 |
|
3.30 |
|
26.8 |
Alberta-1 |
Measured + Indicated |
|
4.95 |
|
102 |
|
721 |
|
0.52 |
|
505 |
|
3.57 |
|
25.7 |
Alberta-1 |
Inferred |
|
17.4 |
|
129 |
|
769 |
|
0.38 |
|
2,238 |
|
13.4 |
|
65.7 |
Note: Totals may vary due to
rounding. |
Cut-Off Value US$25 per tonne |
Measured and indicated mineral resources for Alberta-1 have
increased from 1.8 Mt to 4.95 Mt whilst Inferred mineral resources
have increased 8.0 Mt to 17.4 Mt over the 2011 NI 43-101 resource
estimate. The increase is attributed to a combination of the
step-out holes at Presqueiras that extended the mineralisation,
fill-in holes that upgraded mineralisation from the Inferred
category to the Measured and Indicated categories, and the addition
of Inferred mineral resources outlined at Acebedo, Correa, Coto
Tocayo, Rubillón and Toboazas.
The mineral resource estimate is compliant with the Canadian
Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards
on Mineral Resources and Reserves, Definitions and Guidelines
prepared by the CIM Standing Committee on Reserve Definitions and
adopted by CIM Council on 27th November, 2010.
Solid Resources will be making a submission to the Spanish
Mining Authorities during Q2, 2014 for an exploitation permit for
the entire 3,690 ha property.
A full copy of the report is available on the Company's website
at www.solidresources.com and on the Company's profile on SEDAR at
www.sedar.com.
Technical information in this release has been reviewed and
approved by Mr. Stanley C. Bartlett, M.Sc., PGeo., as the Company's
"Qualified Person".
About Solid Resources
Solid Resources is a Canadian junior mining company focused in
Spain on the exploration and development of rare and industrial
metals. The Company is currently studying the re-opening of the
Cehegin iron ore concessions in south-eastern Spain and is applying
for an exploitation permit on its Alberta-1 tantalum/tin and
lithium property in north-western Spain.
Neither the TSX Venture Exchange or its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Solid Resources Ltd.Greg PenduraPresident &
CEO780-800-0726www.solidresources.comFox-Davies CapitalDaniel
Fox-DaviesManaging Director+44(0) 20 3463 5000Fox-Davies
CapitalJonathan EvansDirector, Corporate Finance+44(0) 20 3463
5000www.fox-davies.com
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