Gr news-april-5-2012-otter lake

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Gr news-april-5-2012-otter lake

  1. 1. GreenLight to Define Drill Targets on Gold and Tungsten Occurrences Near Mt. Pleasant Mine __________________________________________________________________________________ FOCUSED ON EXPLORING ATLANTIC CANADA (OTCBB: PRZCF) (FRANKFURT: PHO) (TSXV : GR)VANCOUVER, British Columbia – April 5, 2012 – GREENLIGHT RESOURCES INC. (TSXV.GR) ispleased to announce that it has commenced an exploration program over its 6,560 acre Otter Lakeproperty in northern Charlotte County, New Brunswick.Exploration Highlights; • Objective of current program is to define drill targets for 2012 drilling season • Up to 4.4% Tungsten mineralization is primarily Wolfanite hosted in bedrock • Several gold targets with a wide range of values up to 30 grams per ton throughout the propertyChris Anderson, President of Greenlight states "This belt is highly mineralized and is in close proximityto the Mt. Pleasant Mine, ( ADE - TSX.V ) which is in the planning stages of coming back on stream.Primarily we are addressing the Tungsten and Gold targets however there is interesting showings in Zinc(up to 4.5 %), Lead (up to 6.3%) and Silver (up to 596 g/t). This type of exploration play is a goodexample of why GreenLights A-Team of explorers have been focused on exploring Atlantic Canada. Weare glad to see that our vision has been recently endorsed by the Fraser institute, as they have recentlynamed New Brunswick as the #1 mining region in the world." The program to be conducted on the claim blocks will consist of a gravity survey as well as IP surveysover selected targets. Geophysical interpretation of existing aeromagnetic data in combination with thegravity/IP data will be compiled along with historical exploration data. Trenching over several historicshowings will be conducted.The gravity work is proposed in order to get a picture of the subsurfacecontact relationships between the granite and the intruded metasediments. The gravity, in concert withdepth modelling derived from the aeromagnetic data will outline areas of cupola development. Thesecupolas, which serve as focal points for mineralized stockwork development, would then become targetsfor drilling.The exploration program will be focussed on exploration of five main target areas.Porphyry ZoneThis target is located near the western edge of the Otter Lake block. Previous exploration identifiednumerous boulders of highly altered quart-feldspar-porphyry containing disseminated galena and
  2. 2. sphalerite grading up to 6.9%Pb, 5.3%Zn and 8.19 oz/ton Ag. This material has not been seen in bedrockbut it appears to be locally derived. The overburden here as in all the target areas, is approximately1meter in depth and it is likely that the mineralized float is close to source. Trenching will be carried outhere in order to get the orientation and attitude of the mineralized dike which would then lead to spottingdrill hole locations targeting the dikeOtter LakeThis area contains several bedrock showings of arsenopyrite bearing quartz veins commonly carryingapproximately 1000 - 3000 ppb Au and up to 4.4 % W, 0.05% Bi and 44g/ton Te. Associated with thegold values are strata bound skarn beds with up to 6.3%Pb, 4.5%Zn and 596 g/ton Ag. These veins areoriented NE and are cut by a later vein set trending to the NW which creates a gold bearing quartzstockwork. This zone will be stripped, washed and detail sampled to establish drill hole locations. Thesampling will identify which vein set is preferentially auriferous and which will dictate the orientation ofthe drilling.Jimmy Hill:The Jimmy Hill showing is a 1meter wide vein that has been traced for over 140 meters. There has beenno surface trenching done to discover if this is part of a wider vein system. The vein runs NNE and isnoted to be enriched where it is cross cut by NW trending quartz veins. Grab samples of the vein run upto 20.1g/ton Au, 0.98%W, and 0.1%Bi.A base metal/silver discovery was made subsequent to the golddiscovery about 300 meters to the west of the gold showing. Numerous mineralized floats and sub cropfound during trenching at this location assayed up to 367 g/t Ag, 1.4% Cu, 6.95% Pb, 4.33% Zn.Drill holelocations will be established after a program of trenching, washing and sampling.Line 10-11WThis gold target was opened up with three small trenches in the early 1990’s. The veining here commonlycontains 1-5% Arsenopyrite which runs up to 6 g/ton Au. Samples containing up to 1% W occur inassociation with the gold bearing veins.The old trenches, which are now infilled, exposed the mineralizedquartz stockworks over a width of about 50 meters. A trenching and stripping program willexpose thiszone for mapping and sampling and to identify drill targets.Shear Mine:The Shear Mine is a gold showing dating back to the 1860’s, contains a 30-50cm northwest trendingquartz vein with up to 17.14 g/t Au and 60 g/t Ag. Trenching to the north of the old shaft uncoveredseveral north trending veins but the Au analysis were disappointing. It appears however, that the trencheswere not on the trend of the main vein and the trenches did not go far enough to the west in order tointersect the main vein.Trenching will be conducted to cover the NW extension of the Shear vein.If thisstructure can be identified, then three short holes totalling 300m would be drilled into the trace of thevein.Assays cited above have been taken from previous assessments reports filed between 1989 and 1995.Readers are warned that "historical records" referred to in this release have been examined but not
  3. 3. verified by a "Qualified Person". Further work is required to verify that the historical assays referred to inthis release are accurate.Patrick Forseille, P. Geo., a Qualified Person as defined by NI 43-101 is responsible for thetechnical information contained in this release.About GreenLight Resources Inc.:GreenLight Resources Inc. is a Canadian exploration company focused on the discovery and developmentof mineral deposits in Atlantic Canada which is a sovereign risk free domain.The Company has adiversified property portfolio and is aggressively advancing several projects including graphite,manganese, REEs, rare metals and precious metals. The Company also has created two joint venturepartnerships on its Keymet gold, silver and base metal property and on its Porcupine rare earth elementand base metal property. These partnerships have facilitated rapid exploration of the Companysexpanding property portfolio.On Behalf of the board of directors“Chris Anderson”Christopher R Anderson,CEO – President 604 488-3900Read about GreenLight Resources Inc.: http://greenlightresources.com/corporate-overview/Read Disclaimer: http://greenlightresources.com/legal-disclaimer/Facebook: http://facebook.com/GreenLightResources | Twitter: @GreenLightRes | Myspace:http://myspace.com/518719311 Suite 888 – 888 Dunsmuir Street Vancouver, B.C., V6C 3K4

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