Jantar Resources Ltd.
TSX VENTURE : JR

September 02, 2009 09:00 ET

Jantar to Acquire 100% of Zigzag Lake Lithium-Tantalum Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 2, 2009) - Jantar Resources Ltd. (TSX VENTURE:JR) ("Jantar" or "the Company") wishes to announce it has signed a letter of intent to acquire up to a 100% interest in the Zigzag Lake Lithium, Tantalum, Beryllium, Gallium property (the "Project"). The Project is located 60 km northeast of the town of Armstrong, Ontario and is accessed via an "all weather" logging road from Armstrong. The Project consists of 81 claim units for a total surface area of 1,296 hectares.

To earn a 100% interest in the Project, Jantar has agreed to make cash payments totaling $112,000, issue 400,000 common shares of the Company and commit to work expenditures totaling $226,800 over a four year period. Jantar has agreed to pay a net smelter royalty of two percent, of which one percent (one-half) of the royalty may be purchased by the Company for $1 million.

The agreement is subject to regulatory approval.

About the Project:

Located 60 km north east of the town of Armstrong, Ontario, the Project contains three occurrences, the Tebishogeshik, the Dempster L28 and Bird River No.1.

Tebishogeshik

- Consists of five sub parallel pegmatite lenses ranging from 4.5 m to 18.3 m in width over a length of 845 m.

- In 1956 and 1957, Dempster Exploration Limited mapped, stripped and trenched the main pegmatite units and carried out channel sampling.

- Lens #2 assayed 1.28% Li2O over 9.8 m. Lens 3 was 0.15% Li2O over 4 m, Lens 4 assayed 1.53% Li2O over 7.3 m, 1.64% Li2O over 6.3 m and 1.68% Li2O over 7.9 m.

- Dr. Chris Anderson, Bird River Mines (1982) stated that sampling based on 36 channel samples and 28 host rock geochemical samples from the Zigzag lake property returned the following values; Lithium grades over 1.6% Li2O, Tantalum, 0.5 pounds to 7 pounds per ton, Gallium, approx. 0.5 pounds per ton and recoverable amounts of Beryllium.

- In 2002, Platinova Resources Ltd. re-evaluated the Project for its tantalum potential and channel sampled the pegmatite lenses. Lens #1 assayed 0.168% Ta over 2.54 meters and Lens #4 assayed 0.300% Ta over 0.92 meters.

- Breaks (2003) stated that the majority of the tantalum-oxide minerals in the Crescent Lake pegmatite group are manganotantalite. Individual analysis of manganotantalite from Tebishogeshik Lens 3 exceeded 80 weight % Ta2O5 and were amongst the highest documented in lithium-rich pegmatite of Ontario.

Dempster L28

- Found in granite gneiss, 400 m southwest of the west extremity of the Tebishogeshik occurrence.

- Similar mineralogy as Tebishogeshik, contains prismatic spodumene crystals up to 10 cm in length.

- Breaks (2003) identified lithium and columbite-tantalite in the occurrence.

Bird River Potential No. 1

- Dr. Anderson (1975) stated that geochemical sampling of the host rocks adjacent to the lithium rich pegmatite zones showed a dramatic increase in the trace lithium content.

- Geochemical sampling of the greenstone bedrock in the Bird River potential No.1 occurrence showed anomalously high lithium (ca 300 ppm).

Mr. Marc Morin, Director of Jantar Resources Ltd., states: "The Zigzag Lake project is Jantar's initial acquisition in the Lithium space. We are pleased to have acquired a property with such encouraging historical exploration results. Jantar continues to evaluate several other Lithium acquisitions and joint ventures."

Jantar's property is contiguous to Linear Metals' (TSX-V: LRM) Seymour Lake Lithium project. Linear has recently announced resuming exploration activities on the project where significant lithium mineralization was intersected with grades up to 2.4% (see Stockwatch, 2009-08-25).

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the Company by Ken G. Fenwick, M.Sc., P.Eng., a qualified person.

We seek safe harbour.

ON BEHALF OF THE BOARD OF DIRECTORS,

JANTAR RESOURCES LTD.

Marc Morin, Director

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of the content of this news release.

Contact Information

  • Jantar Resources Ltd.
    Marc Morin
    Director
    (604) 669-9788
    (604) 669-9768 (FAX)