Canasia Industries Corporation

Published : January 29th, 2010

Applies for Land in the Vicinity of (EFG) First Gold Exploration’s New Lithium and Rubidium Discover

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CANASIA INDUSTRIES CORPORATION

Suite 1470 – 701 West Georgia Street

Vancouver, BC V7Y 1C6

 

January 25, 2010

 

Trading Symbols:

 

CAJ—Canada

45C—Germany

CANSF—USA

 

Canasia Applies for Land in the Vicinity of First Gold Exploration’s New Lithium and Rubidium Discovery

 

Canasia Industries Corporation (“Canasia”) wishes to announce that it has made application for land in the direct vicinity of the new discovery announced today by First Gold Exploration Inc. (EFG—TSX Venture) ("First Gold").  Final acceptance by the government of Quebec is expected within three weeks.

First Gold announced in Stockwatch on January 21, 2010, the discovery of rare metals on its Pivert-Rose property in Quebec, along with up to 4.6 per cent Li2O. According to its news release: "First Gold is truly thrilled to announce the results of analyses from the new lithium showing discovered during the winter drilling program, when two samples were taken. The results for these two samples show that a zone very rich in lithium and containing significant quantities of rare metals (rubidium, tantalum, beryllium, niobium and gallium) has been discovered on the company's property. This discovery is in a zone more than 2.4 kilometres northeast of the Rose showing and 2.5 km south of the Pivert showing.

The Pivert-Rose showing lies in a geological setting similar to that of the Cyr project belonging to Lithium One, both in terms of geology and mineralization. However, the dikes on First Gold's property contain more spodumene and a large amount of lepidolite (associated with rubidium). The various dikes intersected are open in all directions.

First Gold is in the process of compiling the results for hole LR-09-02, which should be released in the coming days. The company believes that Lac Pivert-Rose lithium property is a lithium and rare-metals prospect. Significant zones of lithium, rubidium, tantalum, niobium, beryllium and gallium have been intersected. The company has asked the laboratory to assay the entire core of hole LR-09-02 (from surface to a depth of 78 metres)."

 

Negar Towfigh, President of Canasia stated, “This is a very exciting discovery by First Gold.  Canasia currently has significant holdings of lithium properties and feels that this is a growing market for the future.  Management feels that having additional holdings in this space fits into the Canasia growth strategy.”

 

If you would like to be added to Canasia’s news distribution list, please send your email address to info@canasiaind.com

 

Canasia has a well diversified portfolio of prospects.  Canasia's current prospects include the following: (a) The Clone Gold prospect in Stewart, BC, that has recently returned grades as high as 44.75 g/t Au over 12.80 metres (announced October 22,2009); (b) The Debut Gold prospect in NE Nevada where Kinross Gold is now actively drilling; (c) 55,300 contiguous acres at Reed Lake, Manitoba; (d) 450,000 contiguous acres of Potash claims, bordering Alberta and Saskatchewan; (e) 130,500 acres prospective for Coal in SE Saskatchewan; (f) 180,000 acres prospective for Lithium in Alberta; (g) and three mineral claims covering an area of approximately 31,602 hectares, located north and northwest of the El Oro -- Tlalpujahua Gold/Silver belt in the states of Guanajuato and Michoacan, Mexico.

Contact Information

Tel: 1877  2256755

Fax: 1604 689-1733

www.canasiaind.com

info@canasiaind.com

“Negar Towfigh”
President, Director
Canasia Industries Corporation

 

 

Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.

 

Data and Statistics for these countries : Canada | Germany | Mexico | All
Gold and Silver Prices for these countries : Canada | Germany | Mexico | All

Canasia Industries Corporation

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CODE : CAJ.V
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Canasia Industries is a gold and copper exploration company based in Canada.

Its main exploration properties are DEBUT GOLD in USA and CLONE GOLD in Canada.

Canasia Industries is listed in Canada and in Germany. Its market capitalisation is CA$ 1.4 millions as of today (US$ 1.3 millions, € 968 325).

Its stock quote reached its highest recent level on June 13, 2008 at CA$ 0.56, and its lowest recent point on July 07, 2014 at CA$ 0.01.

Canasia Industries has 140 678 000 shares outstanding.

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Project news of Canasia Industries Corporation
7/24/2008(Clone Gold)Drill Additional Gold Prospect
6/5/2008(Reed Lake)Conductors Indicated on Reed Lake Prospect
6/2/2008(Potash)453,058 Acres of Potash Claims Receive Government Approval
5/30/2008(Jumbo Gold)INITIATES SUMMER WORK PROGRAM
5/23/2008(Reed Lake)VTEM Survey on Reed Lake Prospect Received
4/16/2008(Potash)SIGNIFICANT POTASH PRICE INCREASE IN 2008
4/7/2008(Reed Lake)SEVEN NEW CLAIMS ACQUIRED IN REED LAKE, MANITOBA
3/4/2008(Potash)Retains Geological Consulting Group for Potash Development
12/10/2007(Reed Lake) initiates work program on Reed Lake claims in Manitoba
Corporate news of Canasia Industries Corporation
9/19/2012Positive Indications Returned on Murdochville Aluminous Clay...
9/14/2012(Clone Gold)Re-Commences Operations on Clone Gold Prospect
1/29/2010Applies for Land in the Vicinity of (EFG) First Gold Explora...
1/22/2010Commences Mexico Operations
1/18/2010to Commence Primary Winter Gold/Copper Drill Program
1/12/2010Gold prices hit a five-week high
2/25/2008Acquires Option on more than 450,000 Contiguous Acres of Pot...
11/8/2007 Attend Strategic Investment Forum
10/15/2007Acquire Interest in 26,653 Hectares in Reed Lake, Manitoba
9/25/2007Lists on one of the Worlds Largest Stock Exchanges
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