Consolidated Abaddon to Earn 100% Interest in a Lithium Property and
a Rare Earth Property
(Thomson Reuters ONE) - Suite 2230, 885 West Georgia Street, Vancouver, BC, V6C 3E8, CANADA www.consolidatedabaddon.com Trading Symbol (TSX-V: ABN), (Frankfurt: Telephone: (604)E2L) 687-3376Email: info(at)consolidatedabaddon.com Facsimile : (604) 687-3119NEWS RELEASESeptember 14, 2009 Consolidated Abaddon to Earn 100% Interest in a Lithium Property and a Rare Earth PropertyVancouver, BC - Consolidated Abaddon Resources Inc. (TSX-V: ABN)(FWB: E2L) (the "Company") announces that it has entered into aProperty Option Agreement with Mr. Robert Fairservice of Thunder Bay,Ontario (the "Optionor") for an option to acquire a 100% interest ina lithium property and a rare earth property.The Raleigh Lake lithium property is located in the Raleigh Townshipof Kenora Mining Division and the Selwyn Lake rare earth (REE)property is located in the Selwyn Lake Township of the Thunder BayMining Division, Province of Ontario. Raleigh Lake lithium property map:http://www.consolidatedabaddon.com/s/Image.asp?i=maps/ABN_Raleigh_Lake.jpgRaleigh Lake lithium bearing pegmatites have been known in the areasince the 1960's. Provincial government mapping in the 1990'sidentified a 'Pegmatite Field' trending through the area. A modestdrilling program by Avalon Ventures Ltd. in 1999 and 2000 definedseveral stacked shallow dipping (20-30 degrees) tantalum-lithiumbearing dikes in several drill holes. Thicknesses ranged from1 to 8metres and were shown to continue 450 metres down dip. Drill holeswere relatively shallow and broadly spaced. The pegmatites appearvery uniform at the spacing used and occur in volcanic rock flankinggranitic intrusions. Only 4 to 5 shallow holes were drilled on theRaleigh Lake property. Historic data available in the OntarioGovernment geological files reflect certain intersections below.Hole # RL 99-01 0.56 % Li (lithium) over 3.2 metresHole # RL 99-04 1.00 % Li over 4.1 metresHole # RL 99-05 1.50 % Li over 6.9 metresAbaddon plans to complete a magnetometer survey immediately over the560 acres comprising the Raleigh Lake claims. The data will be usedto identify structural zones where more significant 'groundpreparation' may have resulted in increased volumes of pegmatite. TheCompany intends to proceed with a 2009 winter diamond drill program.Abaddon has also acquired an option on the Selwyn Lake rare earthclaims covering a large and strong REE, Fe, Mo, Th, U3O8 lakesediment anomaly. The anomaly was identified in 1996 by the OntarioGeological Survey and confirmed with further sampling in 2002. Selwyn Lake rare earth property map:http://www.consolidatedabaddon.com/s/Image.asp?i=maps/SelwynLake.gifThe property includes 13 claim blocks covering 1219 hectares coveringthe anomaly. The property is accessible by road and lies 4 kilometresfrom a railroad.The multi element (REE) Rare Earth Element anomaly includes 10 lakeson 3 drainage systems. The Selwyn Lake anomaly is similar in size andelement association to the lake sediment anomaly at Strange Lake(REE) Rare Earth Element project of Quest Uranium in Labrador. TheSelwyn Lake sediment anomaly is located astride a splay in a regionalstructural zone that has been the focus of earlier graniticintrusives. The area has potential for rare earth or molybdenumpegmatites or Olympic Dam style mineralization. There has beenlimited reported exploration in the area.A program of prospecting, soil and till sampling is planned this fallfor the Selwyn Lake property.Pursuant to the terms of the Option Agreement, the Company will begranted an option to acquire a 100% interest in the Raleigh Lake andthe Selwyn Lake claim blocks by paying an aggregate of $30,000,issuing a total of 150,000 common shares and incurring and paying forexploration expenditures of $250,000 over the 3 year term of theOption Agreement:The mineral claims are subject to a 2% net smelter return royalty(the "NSR"). The Company may purchase 50% of the NSR by the paymentto the Optionor of the sum of $500,000.The above transaction is subject to regulatory approval.About Consolidated Abaddon Resources Inc.:Consolidated Abaddon Resources Inc. is a Canadian exploration companyactively involved with the development of uranium and lithiumproperties in the Athabasca Basin of northern Saskatchewan and innorthwestern Ontario.Property partners include Denison Mines Corp., and Triex MineralsCorp.For further information on Consolidated Abaddon Resources Inc.(TSX-V: ABN), visit our Company's web site atwww.consolidatedabaddon.com.ON BEHALF OF THE BOARD OF DIRECTORS"Jim Pettit"____________________________JAMES G. PETTITPresidentFor further information contact myself or:Don MyersConsolidated Abaddon Resources Inc.DirectorTelephone: 604-687-3376Toll Free: 800-567-8181Facsimile: 604-687-3119Email: info(at)consolidatedabaddon.comNEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDERACCEPTS 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 noassurance that such statements will prove to be accurate, and actualresults and future events could differ materially from thoseanticipated in such statements. For a more detailed discussion ofsuch risks and other factors, refer to the Company's filings withCanadian Securities regulators available on www.sedar.com .This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 14.09.2009 - 09:00 Uhr
Sprache: Deutsch
News-ID 5762
Anzahl Zeichen: 0
contact information:
Town:
London
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 248 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Consolidated Abaddon to Earn 100% Interest in a Lithium Property and
a Rare Earth Property"
steht unter der journalistisch-redaktionellen Verantwortung von
Consolidated Abaddon Resources Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
