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Benton Capital Adds to Land Package at Wisa Lake Lithium Project
Apr. 26, 2010 09:47AM PST
Battery MetalsBenton Capital (TSXV:BTC) has acquired two additional land claims at its Wisa Lake lithium project in Ontario. As quoted in the press release: The property is connected to Highway 11 (Trans Canada), located 65km north, via an all-weather road that crosses the centre of the project. The land position was increased in order to cover …
Benton Capital (TSXV:BTC) has acquired two additional land claims at its Wisa Lake lithium project in Ontario.
As quoted in the press release:
The property is connected to Highway 11 (Trans Canada), located 65km north, via an all-weather road that crosses the centre of the project. The land position was increased in order to cover an additional spodumene-bearing pegmatitic dyke located approximately 900m south of the Wisa Lake zone. Selective grab samples collected from the zones have been submitted to the laboratory for analysis.
As indicated in the Company’s PR dated April 19, 2016, the property covers the Wisa Lake deposit with a historical resource of 330,000 tonnes grading 1.15% Li2O (Lexindin Gold Mines Ltd., Manager’s Report, 1958; Ontario Geological Survey, Open File Report 6285, Report of Activities 2012). In 1956, Lexindin completed a total of 20 drill holes (packsack and AQ-sized core) over a strike length of 335m and to a depth of approximately 65m to outline the Wisa Lake lithium mineralization. The diamond drill log of the most easterly hole intersected 6.4m containing 20% of the lithium-bearing mineral spodumene suggesting the mineralization is open at depth and to the east. It should be noted that the historical resource estimate for the deposit was calculated prior to CIM National Instrument 43-101 guidelines and as such should only be considered from a historical point of view and not relied upon. A qualified person has not completed sufficient work to classify the historical estimates as current mineral resources. Further diamond drill programs are required to bring the mineralization into a proper NI 43-101 compliant category.
The Company has recently applied to change its name to Alset Energy Corp. and in is the process of applying for a new trading symbol. The Company has also granted 2,395,000 options to officers, directors and consultants of the company at a price of 7 cents for a period of 5 years.