LAST 0.11-0.01
    VOL 234,871

    News Release

    Summary Brief of Activity and Opportunity for Nemaska Lake Lithium Property

    Overview:  Alchemist Mining Incorporated  has entered into an exclusive option agreement with Great Thunder Gold Corp. (TSXV: GTG) to acquire up to a 70% interest in 213 hectares known as the Nemaska Lake Property, Quebec.

    Location: The property is located on NTS 32O12 in the James Bay region, and more precisely in the Nemiscau area.  The property is easily accessible by road to the town of Chibougamau, approximately 325 km to the SSE, then by boat for approximately 3.5 km on the Nemiscau River, or by walking the same distance north of the Route du Nord.  The Whabouchi deposit owned by Nemaska Lithium is located 4 km south of the centre of the propert

     Activity: The Quebec Government has done several large-scale surveys over the area in the last 50 years.  The most useful are the geological survey by Valiquette in 1975, which established the main geological units in the area, and the DP 2011-02 helicopter borne magnetic survey by D’Amours, conducted over the whole Nemiscau area on lines 250 m apart.

    Tucana Lithium, undertook a geological survey in 2011. Outcrop sampling and location were reported as GPS waypoints. The property and the adjacent ground have never been drilled.

    Interpretation:  The geological survey by Valiquette outlined the main geological units of the area. The survey indicates that the part of the property NW of the river is underlain by white or pink granite and pegmatites, and the part SE of the river is underlain by pegmatites.  Valiquette divide the pegmatites into two categories: white, usually located in metasedimentary rocks; and pink, located in gneisses and granites.  Up until now, the spodumene-bearing (lithium-bearing) pegmatites are white.

    The helicopter-borne magnetic survey shows that the centre of the property is in a magnetic low with a higher Mag close to the East and West boundaries.  The geological survey and sampling by Tucana revealed many pink and white pegmatite and granite outcrops.  The scientific literature classifies pegmatites into two families: LCT, for Lithium, Cesium and Tantalum; and NYF, for Niobium, Yttrium and Fluorine.  The Whabouchi pegmatite is associated with the LCT family of pegmatites and is encased in amphibolites.  The survey identifies many pegmatites on the property.

    Recommendations for Next Steps:  As this is a property at an early stage of exploration, and as pegmatite outcrops usually form small hills because their mineralogy makes them harder to erode than the surrounding rocks, a first phase consisting of a geological survey and thorough sampling of the mapped pegmatites is recommended, with assaying for at least Li, Be, Cs, Ta, fluorine and REE.

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