GreenLight Completes 43-101 on Heavy REE, Base Metal Property New Brunswick Canada
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/09/11 -- GREENLIGHT RESOURCES INC. (TSX VENTURE: GR)(OTCBB: PRZCF)(FRANKFURT: PH0) is pleased to announce that it has completed a National Instrument 43-101 compliant technical report on its 100% owned Porcupine property which is available on the Company's website at .
The Report, prepared for the Company by Ralph Stea, Ph.D., P.Geo. of Halifax, NS provides the first comprehensive description of the geology and compilation of available information pertaining to the economic potential on the 3,440 acre property located in Northumberland County, New Brunswick.
Chris Anderson, President, states, "After expending approximately $140,000 in initial exploration, this comprehensive report confirms the project's merits. With detailed recommendations to expend a additional $230,000 in phase one for further exploration on this project we are optimistic that GreenLight will attract its first joint venture partner. This is our initial step in leveraging GreenLight's ability to find and advance properties of merit in Atlantic Canada. GreenLight is taking this approach in order to enhance shareholder value and assist in offsetting the expense of building and expanding an early stage exploration team to continue exploring Atlantic Canada. Challenging times require creative solutions and this is one approach we are taking, while advancing our main assets through the drilling stage in attempts to building a resource.
GreenLight commissioned the 43-101 report to assess the significance of Heavy REE (rare earth element) soil anomalies and the potential for Heavy REE mineralization in the area based on these soil anomalies. The report also addresses previous geochemical surveys and prospecting to help define potential sources of base metal mineralization using historical data and an understanding of the glacial history and surface processes of the area.
Highlights of the NI 43-101 compliant report are;
Patrick Forseille, P. Geo., a Qualified Person as defined by NI 43-101 is responsible for the technical information contained in this release.
On Behalf of the board of directors
Christopher R. Anderson, CEO - President
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Datum: 09.11.2011 - 17:36 Uhr
Sprache: Deutsch
News-ID 86004
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VANCOUVER, BRITISH COLUMBIA
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Mining & Metals
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