Consolidated Abaddon Begins Exploration on Raleigh Lake Lithium
Project
(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 30, 2009 Consolidated Abaddon Begins Exploration on Raleigh Lake Lithium ProjectVancouver, BC - Consolidated Abaddon Resources Inc. (TSX-V: ABN)(FWB: E2L) (the "Company") announces that a fall work program hascommenced on its newly acquired 560 acres Raleigh Lake Lithium claimslocated Kenora Mining Division in Northwestern Ontario. Raleigh Lake lithium property map:http://www.consolidatedabaddon.com/s/Image.asp?i=maps/ABN_Raleigh_Lake.jpgA crew has been mobilized to the Raleigh Lake Lithium project. Theinitial exploration program will consist of compilation of previousdata from a modest drill program that was completed in 1999, locatingof drill collars in the field and the re-logging of existing core. Adetailed mapping program of abundant lithium bearing pegmatiteoutcrops located on the Raleigh Lake property and a tightly spaceddetailed magnetometer program to better define the known geologicalstructures will also be completed.Raleigh Lake lithium bearing pegmatites have been known in the areasince the 1960's. Ontario 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 from 1 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 shallow holes were drilled on the RaleighLake property. Historic data available in the Ontario Governmentgeological 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 metresConsolidated Abaddon is conducting this autumn exploration programwith the intent to utilize all data gathered (new and historic) todirect the Company towards a winter 2009 - 2010 comprehensive drillprogram.The Company has approximately $2 million in its treasury and no debt.David J. Busch, B.A., B.Sc., PGeo., is the qualified person under themeaning of National Instrument 43-101 and has reviewed the data inthis News Release.In other news, Consolidated Abaddon announces that, further to itsnews release dated September 14, 2009, it has received TSX VentureExchange acceptance of its Option Agreement to acquire a 100%interest in the Raleigh Lake Lithium property and the Selwyn LakeRare Earth property.Pursuant to the terms of the Option Agreement, the Company made thefirst issuance of 50,000 common shares and made the first payment of$5,000 to Mr. Robert Fairservice (the "Optionor").The Optionor's shares are subject to a four month hold period underapplicable securities laws and imposed by the TSX Venture Exchangeexpiring January 29, 2010.In order to earn a 100% interest in the Raleigh Lake Lithium propertyand the Selwyn Lake Rare Earth property, the Company must makefurther cash payments of $25,000, issue an additional 100,000 commonshares and incur $250,000 in exploration expenditures over the fouryear term of the Agreement.About Consolidated Abaddon Resources Inc.:Consolidated Abaddon Resources Inc. is a Canadian exploration companyactively involved with the development of lithium and uraniumproperties in northwestern Ontario and in the Athabasca Basin ofnorthern Saskatchewan.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: 30.09.2009 - 15:00 Uhr
Sprache: Deutsch
News-ID 6430
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