Consolidated Abaddon Resources Inc.
TSX VENTURE : ABN
FRANKFURT : E2L

Consolidated Abaddon Resources Inc.

April 14, 2010 08:00 ET

Consolidated Abaddon Drills 9 Metres 1.3% Lithium at Raleigh Lake Lithium and Rare Earth Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 14, 2010) - Consolidated Abaddon Resources Inc. (TSX VENTURE:ABN) (FRANKFURT:E2L) (the "Company") has completed a seven hole, 1464 metre, diamond drilling program at its Raleigh Lake Lithium (Li) and Rare Earth Elements (REE) property located in the Kenora Mining Division in northwestern Ontario.

Raleigh Lake Lithium project location map:
http://www.consolidatedabaddon.com/s/Image.asp?i=maps/Ignace.jpg

Assaying (SGS Laboratories) was done by completing a 55 element suite of minerals. Significant results from the phase one drilling include 9.0 metres of 1.30% Li in hole RL10-2, 4.7 metres of 0.84% Li in hole RL10-1 including 2.2 metres of 1.10% Li and 1.0 metre of 1.33% Li, 5.5 metres of 0.77% Li in hole RL10-3, 9.6 metres of 0.48% Li in hole RL10-5, and 5.7 metres of 0.48% Li in hole RL10-6.

President Jim Pettit stated: "We are encouraged and very pleased with the results from our initial drill program as they have confirmed and expanded the known lithium and REE zone on the property. Combining these results with Avalon's earlier drill results gives us a much clearer understanding of the regional geology and the emplacement of rare earth elements. We look forward to the second phase work program."

Phase One Drill Hole Summary Table

  Hole No From m To m Length m % Lithium % Rubidium Tantalum ppm
      RL10-1 28.3 33.0 4.7 0.84 0.26 -
incl 29.8 32.0 2.2 1.10 - -
  29.3 33.8 4.5 - - 130
  154.3 161.0 6.7 0.53 - -
incl 159.0 160.0 1.0 1.33 - -
  216.8 219.5 2.7 0.51 - -
    RL10-2 84.0 93.0 9.0 1.30 0.18 -
    RL10-3 103.5 109.0 5.5 0.77 - -
  102.5 113.0 10.5 - 0.21 -
  104.0 112.5 8.5 - - 200
    RL10-4 77.7 78.75 1.05 - 0.28 -
  185.0 186.8 1.8 0.57 - -
  184.25 186.8 2.55 - 0.35 100
    RL10-5 24.4 34.0 9.6 0.48 0.20 162
    RL10-6 112.2 115.8 3.6 0.24 0.17 100
  123.0 128.7 5.7 0.48 0.18 100
RL10-7 107.3 108.9 1.6 - - 900

The phase one drill program was highly successful in confirming and expanding the known lithium and REE mineralization at the property. Pegmatite bodies were intercepted in all seven holes with several pegmatites of 10 to 11 metre thickness being found. The wall rocks to the pegmatites consist of a sequence of mafic volcanics and gabbroic intrusive bodies. These wall rocks are locally sheared, sericite altered and mineralized with pyrite, rhyolite and chalcopyrite. The majority of the intersected pegmatites bodies are rich in spodumene. Spodumene is a lithium bearing silicate mineral and is a common lithium ore mineral in pegmatite mines worldwide.

Only a few shallow holes were drilled on the Raleigh Lake property by the previous owner, Avalon Ventures Ltd., in 1999 and 2000. Historic data available in the Ontario Government geological files reflect certain significant intersections below.

Hole # RL 99-01 0.56 % Li over 3.2 metres
Hole # RL 99-04 1.00 % Li over 4.1 metres
Hole # RL 99-05 1.50 % Li over 6.9 metres

A litho geochemical survey completed on the property by Consolidated Abaddon has indicated several areas where tantalum, lithium and cesium anomalies are present. These areas are in structural zones related to intrusive granites, some of which are the 'two mica' type. The structures were identified from the ground magnetic surveys and have not yet been drill tested. Further work will focus on these prospective areas.

Average lithium grades from several developing lithium projects around North America range from about 0.25% Li to 1.50% Li. Lithium is a light, highly reactive metal with use in a variety of industrial applications including ceramics, lubricants and pharmaceuticals. The fastest growing market for lithium is as lithium carbonate for use in rechargeable batteries, including those in cell phones, computers and new generations of electric and hybrid vehicles. For every one unit of lithium in a cell phone battery there are 7 in a computer battery, 3,000 in a hybrid car and 7,000 in an electric car; the numbers works out to 9 to 30 kilograms of lithium oxide per car battery. Demand for lithium destined for battery usage is predicted to grow by 20% per year.

David Busch, BA, BSc, PGeo, Vice President of Exploration, is the qualified person under the meaning of National Instrument 43-101 and has reviewed the data in this news release.

About Consolidated Abaddon Resources Inc.:

Consolidated Abaddon Resources is a lithium, rare earth and uranium exploration company developing properties in northern Ontario and the Athabasca Basin of northern Saskatchewan.

For further information on Consolidated Abaddon Resources Inc. (TSX VENTURE:ABN), visit our Company's web site at www.consolidatedabaddon.com.

ON BEHALF OF THE BOARD OF DIRECTORS

JAMES G. PETTIT, President

This news release may contain certain "Forward-Looking Statements" that may involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. For a more detailed discussion of such risks and other factors, refer to the Company's filings with Canadian Securities regulators available on www.sedar.com.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Contact Information

  • Consolidated Abaddon Resources Inc.
    Don Myers
    Director
    604-687-3376 or Toll Free: 800-567-8181
    604-687-3119 (FAX)
    or
    Consolidated Abaddon Resources Inc.
    James G. Pettit
    President
    604-687-3376 or Toll Free: 800-567-8181
    604-687-3119 (FAX)
    info@consolidatedabaddon.com
    www.consolidatedabaddon.com