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Thelon Ventures Ltd
Symbol THV
Shares Issued 64,413,569
Close 2009-09-08 C$ 0.05
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Thelon to acquire 60 claims at Lac Malartic


2009-09-09 03:34 MT - News Release

Mr. Jason Walsh reports

THELON TO ACQUIRE LITHIUM PROJECT

Thelon Ventures Ltd. has signed a letter of intent with Gene Leong to acquire a 100-per-cent interest in 60 mineral claims in the Lac Malartic area of Quebec. The terms of the letter of intent are that Thelon will pay $100,000 cash and issue three million shares on closing.

About the property

Location

Lac Malartic lithium property is located approximately 40 kilometres north of Val D'Or and 25 kilometres south of the town of Amos in Quebec. It can be accessed by road from highways 111 and 109. The property is comprised of 60 map designated claims covering an approximate area of 2,900 hectares in two blocks, the North block (41 claims) and the South block (19 claims) on NTS sheet 32D08.

These claims are in the vicinity of six historical lithium prospects and mines located approximately three kilometres to 20 kilometres from the property and are listed below.

1. Vallee Lithium -- Located approximately 20 kilometres to the northeast, historical exploration work indicated 1.38 per cent LiO2 over 4.88 metres in 1956.

2. Mine Quebec Lithium -- Located approximately 18 kilometres to the northeast, produced 907,200 tons at 1.4 per cent LiO2 (0.65% lithium) during 1955-65, historical probable resources 18,140,000 tonnes at 1.30 per cent LiO2 (0.60% lithium), optioned by Canadian Lithium Corp. from IAMGOLD.

3. Valor Lithium -- Located approximately nine kilometres to the northeast, worked deposit in La Corne township.

4. Duval Lithium -- Located approximately nine kilometres to the north, worked deposit in La Motte township, probable reserves 68,000 at 0.36 per cent Li.

5. Lacorne Lithium -- Located approximately three kilometres to the northwest, historical exploration work indicated 0.83 per cent to 1.19 per cent LiO2 in trenches.

6. International Lithium -- Located approximately 12 kilometres to the north, 135,000 tonnes at 0.95 per cent LiO2 historical resource calculated by International Lithium in 1954.

Geological setting

The property is located in the famous Abitibi Archean Greenstone belt with granitic stock which has been explored for gold, lithium and other base metals. Extending from the Abitibi area of Quebec to Wawa Ontario on the shores of Lake Superior, a distance of over 500 kilometres, the Abitibi belt is one of the richest mining areas on Earth. Many historical lithium mines and occurrences are located in this geological belt. This area has also produced over 150 million ounces of gold.

The property is mostly underlain by Archean-age alkalic granite with fluorite and monzogranite. Rock outcrops are very few on the property, but the surrounding areas to the north contain lithium minerals, especially spodumene, which are typical of many of the pegmatites along the margins of a granitic stock. Majority of the dikes strike nearly parallel to the nearest part of the granite contact and dip toward the center of the stock. They occur both within the granite and just outside it in basic lavas or sediments. The southwest corner of the South block on the property is underlain by ultramafic volcanic rocks: komatiite, magnesian basalt and ultramafic rocks of indeterminate origin; minor mafic volcanic rocks and sedimentary rocks.

Based on the subsurface geology and presence of historical prospects and mines in the surrounding areas to the north, this property represents a good exploration target for finding spodumene bearing pegmatite dykes which can host lithium, beryllium, tantalum and other rare earth elements.

Afzaal Pirzada, PGeo, a qualified person under NI 43-101, has approved the technical content of this news release.

There is a finders fee payable in connection with this transaction.