Tearlach Announces Acquisition of Strategic Property Extension to The Final Frontier Project in Ontario
VANCOUVER, British Columbia, Jan. 11, 2023 (GLOBE NEWSWIRE) -- Tearlach Resources Limited (TSXV: TEA) (OTC: TELHF) (FRANKFURT: V44) (“Tearlach” or the “Company”) is pleased to announce the acquisition of the Pakwan Extension claim block which is positioned contiguous with Frontier Lithium Inc. claim block.
Acquisition Highlights - Technical:
- The Pakwan Extension claims have two mica granite to the north, west and south within 100 - 800 metres of claim boundaries; the western two mica granite is the same one that hosts the PAK deposit
- The metasediments are the same distance (1.0-1.5 km) from the muscovite-bearing granite that hosts the PAK deposits as Frontier's Spark and Bolt deposits
- Consists of 23 cell claims and 452 hectares.
Morgan Lekstrom, CEO of Tearlach stated, “This is another piece of the puzzle in the same geological trend as Frontiers Spark and Pak Deposits adding to our Final Frontier Project. Acquisitions like this are cost effective and give us a stronger foothold and higher chance of major discovery within Tearlach’s Final Frontier Project, north of Red Lake.”
The Pakwan Extension Property is located between Tearlach’s Pakwan Property and Margot Property and is 1.8 km south of the Pakwan Property. The Pakwan Extension Property is contiguous with Frontier’s PAK Property. All three properties are within the same North Spirit Lake greenstone belt on the Sachigo – Berens River Subprovincial boundary as Frontier Lithium Inc. Li-Cs-Ta PAK Property. The Pakwan and Pakwan Extension Properties are also within and adjacent to the same Bear Head Fault Zone as the PAK Property. All three Properties are in close proximity or contain the same two-mica granite and metasedimentary rocks as the PAK Pegmatite.
The Margot Property is hosted by a two-mica granite with accessory garnet, tourmaline, and sericite. Ontario Geological Survey identified a pegmatite outcrop on the south shore of Margot Lake (OGS, P.3603, 2008).
The Transaction
Pursuant to the Purchase Agreement, Tearlach acquires a 100% interest in the Pakwan Extension claim block from an arm’s length third-party vendor for the cash sum of $20,650 Canadian.
Qualified Person:
Julie Selway, Ph.D., P.Geo. reviewed and approved the technical 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 is a Canadian exploration company engaged in the acquisition, exploration and development of lithium projects. Tearlach holds an interest in the Final Frontier Project, which includes the Pakwan, Pakwan Extension and Margot Lake Claim block, which is in close proximity to Frontier Lithium’s flagship claims and proximal to the Spark and PAK deposits., Tearlach holds 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. Prospecting and mapping have confirmed pegmatite dykes on the Ferland Lithium Property, 10 km east of Green Technology Metals’ Seymour Lake Project. Tearlach intends to explore these assets and develop a portfolio of projects in the Americas through acquisition. Tearlach’s primary objective is to position itself as the leading lithium exploration and development company in the Americas. Additional information on the Company is available at the website at .
ON BEHALF OF THE BOARD OF DIRECTORS,
TEARLACH RESOURCES LTD.
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 beliefs, plans, expectations or intentions of the Company. Mineral exploration is highly speculative, characterized by several significant risks, which even a combination of careful evaluation, experience and knowledge may not eliminate. 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.
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