Energizer Resources Releases NI 43-101-Compliant Technical Report on its Green Giant Vanadium Project
Energizer Resources Inc. (formerly Uranium Star Corp.) (OTCBB:URST) (FRANKFURT:YE5) (“Energizer” or “the Company”) announces it has completed and filed on SEDAR and EDGAR its NI 43-101-compliant technical report (the “Report”) for the explored portion of its Green Giant Vanadium Project in Madagascar.
The Report was prepared by PEG Mining Consultants and confirms that the exploration programs completed in 2008 and 2009 have established that at least two large-scale, vanadium deposits exist on the Green Giant Property and that the Property merits an aggressive resource definition exploration program consisting of exploratory and infill diamond drilling over vanadium-bearing zones.
The Company’s recently reported and favourable assay results (January 24 and January 26, 2010 press releases) confirmed that the Manga zone has a high-grade core that is open along strike and at depth, and has been defined over a strike length of 500 metres. The 2010 drill program is expected to commence in May after the end of rainy season, and will focus on expanding the Manga zone over a strike length of 3,000 metres.
Infrastructure Synergies Expected to Provide Cost Benefits
A large Sakoa coalfield, approximately 30 kilometres northwest of the Green Giant Vanadium Project, is being developed by Asia Thai Mining (Pan African Mining) and Red Island Minerals. Construction is expected to commence in early 2010 and will include a new port facility, road and railroad from the coast to the coalfield, a coal-fired power plant to generate electricity and a major water pipeline. Based on the information provided to the Company by Asia Thai Mining, much of the proposed infrastructure for the coal project will be relevant to the Green Giant Vanadium Project and is expected to provide significant cost savings for both capital and operating components of the Company’s Green Giant Vanadium Project. The Company is continuing to investigate the potential synergies between these two projects.
Independent Qualified Persons
Todd McCracken, P.Geo., of PEG Mining Consultants Inc., the Independent Qualified Person under National Instrument 43-101, has reviewed and approved this release. Todd McCracken is the author of the Technical Report Update on the Uranium Star (now Energizer Resources) Green Giant Project dated November 27th, 2009, to be filed within 45 days of this news release.
Andy Holloway, P.Eng., of PEG Mining Consultants Inc., the Independent Qualified Person under National Instrument 43-101, has reviewed and approved this release. Andy Holloway is the author of Section 16 of the Technical Report Update on the Uranium Star (now Energizer Resources) Green Giant Project dated November 27th, 2009, to be filed within 45 days of this news release.
Energizer Resources to Exhibit at the 2010 PDAC
Once again, the Company will be attending and exhibiting at the Prospectors & Developers Association of Canada (PDAC) mining show, Booth # 2348 at the Metro Toronto Convention Centre, South Building from March 7 to March 10. Energizer Resources welcomes all shareholders and attendees to the show to come by the booth and hear first-hand the latest updates on our Green Giant Vanadium Project in Madagascar.
About the Company
Energizer Resources Inc. is a rapidly emerging exploration company with assets in Madagascar (Vanadium) and Northern Quebec (Uranium). Its shares are traded on the OTCBB under the symbol URST and on the Frankfurt Exchange under the symbol YE5. The Company has received conditional listing status on the TSX Venture Exchange.
For more information on the Green Giant Project and up-to-date pictures from the field, please visit our website at, please visit our website at www.energizerresources.com
Brent Nykoliation, Vice President of Business Development
Energizer Resources Inc.
Toll Free: 800.818.5442 or 416.364.4911
Julie Lee Harrs, President and COO
Cautionary Statement: The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from expectations and projections set out herein.