About GreenLight Resources Inc.
GreenLight is focused on exploring Atlantic Canada, which is a sovereign risk free, resource rich domain.( New Brunswick was recently announced as the #1 region in the world to do mining according to the Fraser Institute mar-2012 ) GreenLight is sourcing, and advancing several projects under a project generation model, addressing a wide range of specialty and traditional commodities. Such as, Graphite, Tungsten, Antimony, Base Metals and Precious Metals.
Exploration Projects Under Development
Christmas Island – Graphite Project
Graphite samples were taken from graphite showings on the newly optioned lands and were tested in 2006. Of the four samples taken , three samples were taken from graphite schist on the property and one sample was taken from the George River Marble along strike from the property. There is a historic graphite mine just to the south, dating from approximately a hundred years ago. Graphite mining of that time concentrated on the high grade, vein graphite, often found at sheared lithologic contacts between schist and carbonates. There is a good possibility that the more economically attractivedisseminated flake graphite mineralization will be found within the George River Marbles that traverse the property. Also the distinctive geophysical anomalyoccurring the propertymay indicate the presence of additional graphite or other conductive minerals. Greenlight is currently reviewing all the previous work and reports associated with the property as well as reviewing the local geology and will be commencing a phase one work program immediately.
- Large contiguous 5,760 acres claim block hosting multiple near surface target areas, for Gold, Copper & Graphite. Numerous IP and geochemical anomalies, the longest of which is greater than a kilometre in length.
- Includes Gold (up to 5oz/t) and Graphite (up to 20% graphite in shear zones) showings identified from trenching &(up to 4% disseminated)
- Excellent infrastructure with road access to the property
Otter Lake – Precious & Base Metals
The Company holds a 50% option agreement on the Otter Lake property in New Brunswick with Portage Minerals Inc. and Rockport Mining Corp. The 4,160 acre property is 15 km east of the Mt Pleasant Zinc, Indium, Tungsten, Molybdenum, Bismuth deposit. Four significant Au, Ag, W, Mo and Bi showings occur and trench samples have Au assays of 1 g/t to 20.1 g/t including up to 0.32% Bi and 4.46% W. A base metal/silver discovery made subsequent to the gold discovery on the property assayed up to 596 g/t Ag, 1.4% Cu, 6.95% Pb, 4.5% Zn. Recently, Greenlight acquired by staking a further 2,400 acres adjacent to this property increasing Greenlight’s contiguous land position to 6,560 acres. The newly acquired 100% owned lands have historical assays from shafts of up to 17.14 g/t Au and subsequent sampling returned 9.6 g/t Au and 60 g/t Ag.
Golden Grove – Graphite deposit
The 100 % owned Golden Grove Graphite deposit is located 24 kilometres northeast of Saint John, NB. The Deposit has been known since the mid 1930’s and has assayed up to 31.74% graphite. Previous drilling blocked out approximately 25,000 tons of 22.37% graphitic carbon but no work has been carried out on the property since 1987. Graphite is a conductive, chemically inert mineral that is a key component to almost all batteries, fuel cells, brake pads, and is also a critical component in both the metallurgical and electrical industries. Graphite is
similar to rare earths minerals in that they are largely monopolized by China. Current and planned production of high quality graphite is only a small fraction of the projected requirements of the battery and automotive industries. This suggests that the price of high quality graphite will at least maintain its current price of approximately $2,400 per tonne, and possibly approach that of syntheticgraphite which currently sells for in excess of $19,000 per tonne.
Tomahawk – Manganese Project
The Tomahawk Ridge manganese prospect, covering 52 claims over 2,080 acres in NE New Brunswick, was discovered in 1976 and Noranda subsequently acquired the project in 1979 but no further work was conducted. Greenlight recently acquired 100% interest in the project and a program including trenching and evntual drilling is in the early planning stages. 9.67% Mn, 9.33% Fe.
Brazil Lake – Lithium and Rare Metals Project
One of the company’s focuses is the 8,525 acre Brazil Lake property, located approximately 30 kilometres north of Yarmouth, Nova Scotia. Drilling to date has successfully revealed two Lithium bearing pegmatite dikes. In addition to Lithium, the dikes host several other rare metals such as tantalum, niobium, beryllium, tungsten tin and rubidium. Metallurgical bench testing to date has also revealed other potential economic targets, including cosmetic grade mica, silica chloride, aluminum chloride and rubidium enriched potassium feldspar. Exploration over the summer has identified several other pegmatite dikes. These dikes will be drilled in Q2 2012.
Projects Under Joint Venture
Keymet – Silver and base metals
Greenlight acquired a 100% interest in the Keymet property located 24 kilometres NNW of Bathurst, New Brunswick. The property covers 6,400 acres and is named after a small past producing mine located on the property which produced a total of 56,000 tons @ 0.25% Cu, 2.44% Pb, 2.59% Zn and 0.99 opt Ag between 1954 and 1956. a shaft was sunk to the 366 meter level with drifts established on the 45, 91, and 137 meter levels. Production ceased in 1956 when a fire destroyed the mine buildings. Based on historic geophysical and geochemical data, there is good evidence that a series of three and possibly four, parallel vein systems occur on the property. Exploration planned for the Keymet claim group will include re-establishment of the geochemical/geophysical grids and locating the historic anomalies on the ground. Confirmation of the soil anomalies with follow up trenching, has identified several drill targets. The plan for these targets is to drill them in Q4 2011.
Porcupine – Rare Earth Element Project
The Company acquired a 100% undivided interest in the Porcupine-Upper Miramichi Rare Earth Property in New Brunswick. The primary target is the various rare earth elements (REE) that were discovered in soil samples on the property in 2007. Soil assays for REE’s include Samarium (Sm), were reported with grades of up to 218 ppm (g/t) and Dysprosium (Dy) with grades of up to 98.6 ppm (g/t), Neodymium (Nd) with grades of up to 1190 ppm (g/t), Ytterbium (Yb) with grades of up to 31.3 ppm (g/t) and Yttrium (Y) with grades of up to 472 ppm (g/t). Reported assays for Heavy REE’s include Terbium (Tb) with grades up to 20.3 ppm (g/t) and Ytterbium (Yb) with grades up to 31.3 ppm (g/t) while reported light rare earth metals include Cerium (Ce) with grades up to 459 ppm (g/t) and Lanthanum (La) with grades up to 1,300 ppm (g/t). The Company is currenlty conducting an initial mapping and prospecting program over the property.
