(Dallas, TX. – September 28, 2011) StockGuru Shines its Spotlight on GREENLIGHT RESOURCES INC. (TSX-V: GR)(OTCBB: PRZCF)(FRANKFURT: PH0). The Company announced yesterday that it has retained Eastern Geophysics Limited of West Pubnico, Nova Scotia, to conduct a geophysical survey over its 100% owned Porcupine Rare Earth Property (“Property”) located fifty kilometers west of Newcastle, New Brunswick. The dipole-dipole induced polarization (IP) survey will assist in refining drill targets identified from the Company’s recently completed soil sampling and prospecting program. The Company closed on September 27, 2011, at $0.125, trading in a fifty two week range of $0.27 – 0.1235.
The 3,440 acres property hosts two exploration plays. The south claim block contains a REE exploration target while the North claim block contains REE, silver and base metal targets. Various rare earth elements (REE) were previously discovered in soil samples on the property and subsequent geochemical surveys confirmed very high values for REE mineralization including the presence of several important heavy rare metals (“HREE”).
Rare Earth Elements – South Claim Block
The results of the soil sampling program have confirmed the presence of anomalous Heavy and Light Rare Earth Elements (LREE) identified in previous exploration programs. Of particular interest are anomalous zones with Heavy and Light Rare Earth elements, and also Caesium, particularly in the south western portion of the grid. This positive correlation indicates a proximal bedrock source for these elements. Other areas have a relatively strong, north west trending, linear Niobium anomaly cutting through Rare Earth elements and Caesium highs. This may be indicative of a mineralized vein -porphyry dike or pegmatite and several such anomalous features like this occur on the grid which may also be indicating the presence of dike/vein swarms. This NW trend is evident on the air photos as late lineations which offset older E-W trending linears that parallel the regional fault trend.
Copper and Base Metals – North Claim Block
Two distinct anomaly types were identified including base metals and Rare earth elements. The most prominent is a Copper, Lead and Zinc east-west trending anomaly in the central portion of the grid with maximum values of 191 ppm Cu, 321 ppm Pb and 764 ppm Zn. This anomaly is 800 meters long and 50 to 100 meters in width and appears to follow the contact between quartzite/phyllite and a strongly foliated granite.
A Rare Earth element anomaly was located on the western portion of the grid with peaks of 1143 ppm LREE and 78 ppm HREE. The anomaly drapes around the nose of a foliated granite intrusion and is open to the west and also correlates to a Caesium anomaly. Of particular interest are ENE trending anomalous trends for Zr, Nb and Th which have good continuity at 400 meters indicating a mineralized pegmatite or aplite dikes cutting both local granite and metasediments.
The Company plans to complete an IP survey in the next few weeks over the prime target areas of both claim blocks to assist in identifying drill locations. Further work is also planned to expand the sampling survey grid to further delineate the extent of previously identified soil anomalies.
Patrick Forseille, P. Geo., a Qualified Person as defined by NI 43-101 is responsible for the technical information contained in this release.
On Behalf of the board of directors
Christopher R Anderson, CEO – President
Read about GreenLight Resources Inc.: http://greenlightresources.com/corporate-overview/
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