TUCANA Lithium Corporation

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Tucana Lithium Corporation
Tucana logo.png
TypeCorporation
IndustryMining
Trades asUSOTC:TUCA
Websitewww.tucanalithium.com
TUCA stock chart

Tucana Lithium Corp., a Nevada corporation (TUCA.OTCQB), is a mineral exploration company. Tucana has acquired 100% interest in the Abigail property (Lithium) located in the James Bay region of the Province of Quebec, Canada, and more precisely in the Nemaska area. It is made up of 222 map-designated cells totalling 11,844 ha or 118.5 squared km.

This property is attached to the world class Whabouchi Lithium deposit held by Nemaska Exploration NMX.V.

More to come soon

Québec:

Québec is the second largest Canadian province, located in Eastern Canada. The province is predominantly French speaking and is the only province where the official language is French. Second largest province by population 7,870,026[2] the majority of the population is located to the south. Montréal is the largest city with a population of 3,859,318 [1] and Québec City second at 754,358 [1]. The Province joined Canada along with the first 4 provinces that formed the Canadian Federation on July 1st 1867 [4] under the system of responsible government which remains in Canada to present day[3].

Nemaska:

The village of Nemaska is located N 51.7167, W -76.3333 on Lac Champion near the James Bay Region of Quebec. A small Cree community of about 560 people the village name is Cree for `Where the fish abound`[5]. Nemaska was founded in 1980 when the original village to the south `Nemiscau` was abandoned in the 1970`s when Hydro Québec’s proposed the James Bay Hydro-Electric Project. Nemaska can be accessed year round via the Route du Nord or the James bay Highway. The village can also be accessed by plane Monday-Friday by Montréal, Val d'or or Chibogamau.[6]

Government:

The Québec Government offers many incentives for Established and Exploration Mining Companies as well as tax relief for investors for those operating in the province. On May 9th 2011 Premiere Jean Charest unveiled an 80 Billion Dollar plan known as the `The Plan Nord` over the next 25 years for the development of energy, mining, infrastructure, tourism and conservation [7]. The Government has also extended the generous mining incentives which were originally introduced in the early 2000`s [8] [9] which will carry through the fiscal year ending 31 March 2011. The extension has been granted by both the federal and provincial Governments. For Each $1000 a Junior mining company invests the expected net cost is $509, a deduction of $491.[10][11]

Climate:

Environment Canada does not display current weather or Climate information in Nemaska however The Weather Network [12] Provides weather forecasts. The climate is sub-arctic and considered a Northern Temperate Zone (extreme) [13] with an average temperature of -20 ºC in the winter to an average of +17 ºC in the summer. The area is known for long winters from early November to early June.[14]

Department of Natural Resources and Wildlife Québec:

Ministère des Ressources naturelles et de la Faune or MRN[15] is the provincial department for Québec`s Natural resources. This website is the portal for the E-Sigéom and Gestim Data Bases for the mines. MRN also provides a wealth of knowledge on forestry, energy, wildlife, territory and land surveys as well as information for investors. Companies that are subject to policies in the province of Québec must also follow the regulations set out by the Federal Government of Canada under the natural resources[16][17] and environmental departments[18][19]. The website is available in English, French and Spanish.

E-Sigéom à la carte:

E-Sigéom is a search engine into the Québec mining database[20]. Unfortunately links to search results cannot be posted by hyperlink, the user must enter the search criteria each time they wish to view information. The database can provide information on locations in various ways. By searching mining titles the user can view all active, revoked, expired titles, furthermore information is provided on location, size and expiry date. Under the examine document search engine the user can search by numerous search strings. Information on NI 43-101`s, authors, surveys and element searches are just a few ways a user can access the database. Most information is viewable in java form however if the user wants to download information they often must pay a fee for the service. If the document is a NI 43-101 more than likely the document can be viewed on the company website and if not it can be found on the Canadian Filing system sedar.com [21] free of charge.

National Instrument 43-101(NI 43-101):

With the aftermath of the Bre-X[22], Canada’s largest Mining scandal, the NI 43-101 was implemented. The regulation follows strict guidelines on scientific and technical information of projects for Canadian Companies. For more information see Association of Professional Geoscientist of Ontario (APGO)[23] or the Canadian Institute of Mining(CIM)[24]

Canadian Company information:

Unlike the US Securities and Exchange Commission, Canada regulates at the provincial level and has separate filing systems for companies and insiders. For all filings related to material changes, reports and financials information can be found at sedar.com[21]. To view summaries of insider/company positions both past and present the information can be found at sedi.ca[25]. There are some useful links for quick reference to Canadian insider information as well. Canadianinsider[26] offers the last 10 transactions related to a company and TSXventure info[27]offers all present and historical relations the person has held to Junior Companies.

James Bay Region Québec. Tucana Exploration Claims and Surrounding Claims.

The Abigail Property:

The Abigail Property Mining claims are 100% owned by Tucana Exploration Inc[28]. The property is comprised of 222 map designated cells which cover an area of 11,844 ha or 118.5 km2. The Route Du Nord traverses through the Southern Part of the property and the area is accessible year round[6]. Little past exploration has been performed on this property other than in 1975 and 1998[29]. In 2011 MRN released an Aerial Magnetic survey of NTS 32o12 and 32o13 which resulted in a savings of $150,000 for Tucana. Based on previous estimates there are three main types of deposits that may occur in this area, lithium, nickel sulphides and Uranium[29]. The recent aerial survey revealed a Keating Coefficient on the property which is indicative of magnetic anomalies that resemble the qualities of Kimberlite Pipes. This anomaly is located in the North Western area of the Abigail Property. On June 13th 2011[31] Tucana Lithium Corp entered into a geological and management services agreement with Nemaska. This exploration campaign will be lead by Geologist Yves Caron. Mr. Caron is a member[32] of the Association of Professional Geologists of Québec[33]. On the 26th of September 2011 Tucana announced[34] they have retained the services of Donald Thèberge a professional engineer to fulfill a NI 43-101 on the field operations and review the next phase of the exploration program for Tucana. Thèberge has 79 filings with E-Sigéom[35] and has filed a Consent of Qualified Persons report to Provincial Securities Commissions for Nemaska Exploration under sedar.com[21]


Directors

References

  1. Board of Directors Official company website

Useful Links

  1. http://www.statcan.gc.ca/pub/91-214-x/2009000/t021-eng.htm
  2. http://www.statcan.gc.ca/daily-quotidien/100628/t100628a2-eng.htm
  3. http://www.mccord-museum.qc.ca/en/eduweb/texts/summary/1840-1867/#_Toc36373713
  4. http://www.mccord-museum.qc.ca/en/eduweb/texts/summary/1867-1896/
  5. http://www.nemaska.com/brief-history-of-nemaska
  6. http://www.nemaska.com/getting-to-nemaska
  7. http://www.cbc.ca/news/business/story/2011/05/09/quebec-northern-plan-charest.html
  8. http://www.canadianminingjournal.com/news/quebec-ministry-of-natural-resources-stretching-your-exploration-dollars/1000148544/
  9. http://www.mrnf.gouv.qc.ca/english/publications/mines/quebec-mines/20015018.pdf
  10. http://www.nrcan.gc.ca/mms-smm/busi-indu/bif-bfi/htm/bug-2010-eng.htm
  11. http://www.mrnf.gouv.qc.ca/english/publications/mines/fiscal/tax-credit-resources.pdf
  12. http://www.theweathernetwork.com/index.php?product=weather&placecode=CAQC1508&wbRef=www.nemaska.com&link=cityPage&switchto=c&ref=wxbtn180x150_text_city
  13. http://www.provincequebec.com/james-bay/
  14. http://www.nemaskaexploration.com/documents/Whabouchi2011_43-101_final_July112011.pdf
  15. http://www.mrnf.gouv.qc.ca/english/home.jsp
  16. http://www.nrcan.gc.ca/home
  17. http://www.nrcan.gc.ca/mms-smm/poli-poli/leg-loi/min-min-eng.htm
  18. http://www.ec.gc.ca/default.asp?lang=En&n=FD9B0E51-1
  19. http://www.ec.gc.ca/default.asp?lang=En&n=48d356c1-1
  20. http://sigeom.mrnf.gouv.qc.ca/signet/classes/I1102_indexAccueil
  21. http://www.sedar.com/
  22. http://www.cbc.ca/news/background/gold/bre-x-timeline.html
  23. http://www.apgo.net/ni43-101.htm
  24. http://www.cim.org/committees/NI_43-101_Dec_30.pdf
  25. https://www.sedi.ca/
  26. http://www.canadianinsider.com/
  27. http://infoventure.tsx.com/TSXVenture/TSXVentureHttpController?GetPage=LcdbSearch

28. http://investorshub.advfn.com/boards/read_msg.aspx?message_id=68031929

29. http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7591522

30. http://investorshub.advfn.com/boards/read_msg.aspx?message_id=67474710

31. http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7992090

32. https://cotisation.geologuequebec.com/directory/DirDetail.aspx?id=n7oq9n9

33. http://www.ogq.qc.ca/index.php?option=com_content&task=view&id=25&Itemid=52&lang=english

34. http://www.marketwatch.com/story/tucana-lithium-obtains-the-airborne-magnetic-survey-for-the-abigail-property-2011-09-26

35. http://investorshub.advfn.com/boards/read_msg.aspx?message_id=68075548

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