VANCOUVER, British Columbia, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Tearlach Resources Limited (TSXV: TEA) (OTC: TELHF) (FRANKFURT: V44) (“Tearlach” or the “Company”) is pleased to announce that Dr. Julie Selway has identified a large, new, unmapped land package highly prospective for pegmatites in Northern Ontario called Georgina Stairs Property (the “Property”), near Beardmore, northern Ontario through staking in the Georgia Lake pegmatite field. Through this effort, the Property is 100% held by Tearlach. The Property consists of 585 cell claims near Beardmore, Lake Jean, Parks Lake, and Leopard Lake Areas (Figure 1). The claim block is about 11,078 ha and 14 km long by 12 km wide.
Georgina’s Stairs Property highlights:
- Same geology as Georgia Lake pegmatite field.
- Potential for the muscovite granite to be the parent to lithium pegmatites on the Property
- Deep-seated regional structures as fluid pathways for pegmatites
- Most of the Property is unexplored and is located near the Georgia Lake pegmatite field
- Roads connect the Property to the Trans Canada Highway #11
Morgan Lekstrom, CEO stated, “Dr. Selway hand-picked this Property due to its high prospectivity and due to the Property’s same geological setting as RockTech Lithium’s key projects. The Property was not mapped before Dr. Selway. With her expertise and local and regional knowledge, she identified the necessary signatures to make this large land package very strategic, given the geological setting and location. Dr. Selway and the team are analyzing geophysics, which she has unique insight into, and potentially identifying more staking opportunities and potential acquisitions in the area. This is another example of how a world-class expert, Dr. Selway, enables Tearlach to identify quality projects to add to our growing hub and spoke model.”
Figure 1: Property geology of Georgina Stairs Property, Georgia Lake pegmatite field, Beardmore, Ontario.
Technical Information:
Georgia Lake pegmatite field consists of multiple spodumene pegmatites, with the first discovery of spodumene (Li mineral) made in 1955. The Georgia Lake spodumene pegmatites are hosted by the metasedimentary rocks near the muscovite granites and diabase dykes and sills. The Georgia Lake albite-spodumene pegmatites consist of quartz, feldspar, muscovite and spodumene, with the spodumene crystals aligned perpendicular to the dyke wall. The Georgia Lake pegmatites are homogeneous with a wall-to-wall spodumene zone and typically do not contain barren pegmatite zones. The Property’s geology is the same as Rock Tech Lithium’s Georgia Lake Project, and it is located 9 km east of Rock Tech’s spodumene pegmatites. The geology is also the same as Balkan Mining and Minerals Limited’s Gorge Lithium Project and is located 4.7 km north of their spodumene pegmatites.
The Georgia Lake pegmatite field is located within the metasedimentary Quetico Subprovince, not at a Subprovincial boundary zone. However, the area does contain deep-seated regional structures such as the NW-SE trending Matachewan diabase dykes and the N-S trending Marathon diabase dykes which extend across the province of Ontario. The muscovite granite intrusions in the Georgia Lake pegmatite field tend to be elongated in the NE-SW direction. Rock Tech’s Nama Creek North and South spodumene pegmatites are oriented NE-SW. Likely, the property contains muscovite granites as the large lithology area of metasedimentary rocks is an over simplification due to a lack of mapping in the area.
The Property is underexplored because it is located just off E.G. Pye’s Georgia Lake Area map (Ontario Geological Survey, M2056, 1964), which has guided lithium pegmatite exploration in the area for many decades. Historical exploration on the Property consists of drilling in 1972 and 1973 in search of sulphides and prospecting in 2009 and 2011. The majority of the Property has had no historical exploration on it despite being so close to the Trans Canada Highway.
The Property has good infrastructure to support exploration activities as roads connect the Property to the Trans Canada Highway #11. One road passes through the middle of the Property from north to south, and the Property contains multiple logging roads. Equinox Gold/Orion Mine Finance’s Greenstone Gold Mine, Geraldton, is located about 50 km northeast of the Property. The town of Beardmore is located 12 km to the northwest, the town of Nipigon is located 53 km to the south, and the city of Thunder Bay is located 146 km to the southwest. Thunder Bay is a transportation hub with a deep-water harbour for shipping on Lake Superior, railway and Trans Canada highways going east and west across Canada, and a highway south to the United States.
Qualified Person:
Julie Selway, Ph.D., P.Geo. supervised the preparation of the scientific and technical information that formed the basis for the written disclosure in this news release. Dr. Selway is the VP of Exploration for Tearlach Resources and the Qualified Person ("QP") as defined by National Instrument 43-101. Dr. Selway completed a Ph.D. on granitic pegmatites in 1999 and worked for 3 years as a pegmatite geoscientist for the Ontario Geological Survey. Dr. Selway has worked on numerous pegmatites over the years, including Case Lake, Gullwing-Tot Lakes, Separation Rapids, Georgia Lake and Seymour Lake pegmatites. Dr. Selway has authored or co-authored twenty-three scientific journal articles on pegmatites.
About Tearlach
Tearlach, a member of the TSX Venture 50, is a Canadian exploration company engaged in acquiring, exploring, and developing lithium projects. Tearlach has a Joint Venture agreement with Blackrock silver on the Gabriel project in Tonopah, Nevada, bordering American Lithium's TLC Deposit, and is aggressively exploring the lithium targets previously identified by drilling. Tearlach holds an option to acquire a 100% interest in the Savant Property, an exploration stage Gold-Silver-Copper Property in Northwestern Ontario, subject to a 1.5% net smelter royalty. Tearlach holds an interest in the Final Frontier Project, which includes the Pakwan / Margot Lake Claim block, which is directly contiguous to Frontier Lithium's Flagship Spark and PAK deposits, as well as interests in the Wesley, Harth and Ferland properties, all located in the lithium hub of northwestern Ontario, Canada. The Wesley Property borders Green Energy Metals' Root Lake Project, where a 24,000 m drill program is currently underway. Pegmatite dykes have been encountered on the Harth Lithium Project, which is 8 kms west of the Wesley Lithium Project. Tearlach also holds interests in Fliszar, Muscovite Ridge and Rose North Properties in the James Bay area of Quebec, and each property hosts pegmatites. Tearlach also has interests "The Shelby Project" properties in Quebec's James Bay Region near Winsome Resources and Patriot Battery Metals. Tearlach's primary objective is to position itself as North America's leading lithium exploration and development company. For more information, please get in touch with the Company at info@tearlach.ca or visit our website at www.tearlach.ca for project updates and related background information.
The TSX Venture 50 is a ranking of the top performers in each of the 5 industry sectors in the TSX Venture Exchange over the last year.
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ON BEHALF OF THE BOARD OF DIRECTORS,
TEARLACH RESOURCES LIMITED
Morgan Lekstrom
Chief Executive Officer
Suite 610 - 700 W. Pender Street
Vancouver, BC, Canada V6C 1G8
Tel: 604-688-5007
Forward-looking statements
This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities laws (collectively, “forward-looking statements”). Statements and information that are not historical facts are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible” and similar expressions, or statements that events, conditions or results “will”, “may”, “could” or “should” occur or be achieved. Forward-looking statements and the assumptions made in respect thereof involve known and unknown risks, uncertainties, and other factors beyond the Company’s control. Forward-looking statements in this press release include statements regarding the Company's beliefs, plans, expectations, or intentions such as: the potential for the muscovite granite to be the parent to lithium pegmatites on the Property; the potential to identify more staking opportunities and acquisitions; and the belief that the geology on the Property is similar to adjacent properties as identified in the release. Mineral exploration is highly speculative and characterized by several significant risks, which even a combination of careful evaluation, experience and knowledge may not eliminate. These risks include financing risks; regulatory risks; and risks related to the mining and mineral exploration industry in general, as set out in the Company’s periodic disclosure documents. Forward-looking statements in this press release are made as of the date herein. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements in this press release are reasonable, undue reliance should not be placed on such statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information or future events or otherwise, except as may be required by law.
Neither the TSX Venture Exchange nor 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 press release.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c0f07739-db4d-4d75-9f47-eb323599d569
