Mr Kirill Klip, President, International Lithium Corp. comments: "We are very pleased to celebrate ILC's 5th IPO anniversary by advancing Mariana Lithium Brine project In Argentina further into resource estimation stage with our strategic partner Ganfeng Lithium from China."
CEO-Roaster With International Lithium Corp.: Building A Green Energy Metals Royalty Company.
It took International Lithium 7 years of building our Lithium business and 5 years of partnership with Ganfeng Lithium: $4.5 billion market cap giant from China - to receive this acknowledgement to celebrate our 5th IPO anniversary:
"Ganfeng has a strong commitment to supply Lithium product to various industries worldwide,” stated Ganfeng’s Director, Wang Xiaoshen, “so we clearly have a vested interest in these projects and have been very hands-on in the evaluation of ILC’s properties. Our company is the only one in the world that has commercial production capacities to extract Lithium from both brine and spodumene, and we continually implement cutting-edge technologies to our processes. I feel confident that this is a fit for our operations and the potential these projects hold."
Race For Renewable Energy Technologies Charges Lithium Market. Chinese Lithium Leader Secures Supply Sources.
International Lithium:
Vancouver, B.C. 11 May 2016, International Lithium Corp. (the “Company” or “ILC”) (TSX VENTURE:ILC.V) is pleased to announce that together with strategic partner Ganfeng Lithium Co. Ltd., (“GFL”) drilling is about to begin at the Mariana Lithium Brine project in Salta, Argentina.
As previously announced by the Company on December 10, 2015 ILC and GFL have allocated a budget of approximately US $3,190,000 for exploration and development work on the Mariana Lithium Brine project in Argentina. The exploration plans for this budget include:
- Evaporation process path testing
- Geophysical surveying for aquifer and basin characterization consisting of:
- Gravity surveys
- Seismic surveys
- Transient Electromagnetic (TEM) sounding surveys
- Drilling for resource estimation
Mariana Argentina, Camp Site
The first phase of this programme includes bench scale evaporation tests on raw and treated brine, which are currently being conducted at the Universidad Técnica de Oruro (“UTO”) in Bolivia (Company news release January 19, 2016). Results from these tests are expected toward the end of Q2 and will be used to design field evaporation tests at the project site.
Geophysical surveys are now completed for this phase of the exploration work. The surveys were designed to map characteristics of the shallow aquifers at Salar de Llullaillaco, where two lithium rich aquifers occur within 120 metres of depth from surface. The surveys are oriented on two perpendicular lines that cross the entire salar in an east-west (10 kilometres) and north-south (15 kilometres) manner.
Shallow seismic refraction tomography surveys were carried out by GEC-Geophysical Exploration and Consulting S.A. from Mendoza, Argentina. Gravity and Transient Electromagnetic (TEM) sounding surveys were carried out by Quantec Geosciences Argentina S.A.
Data from all three geophysical surveys are being analyzed in conjunction with previous drill results to help define stratigraphy and map brackish waters throughout the salar with the results guiding the placement of drill holes for the next phase of work. Initial results from the geophysical surveys indicate that the two upper aquifers are continuous, in places unconfined and generally well connected laterally over large distances. If true, this would indicate that the observed uniformity of grade and measured high transmissivity extend throughout a large portion of the salar giving rise to an easily accessible, uniform brine resource. The current drill program is designed to test this hypothesis. In addition, evidence suggests that there may be a deeper, sandy aquifer below the compacted halite layer that forms the base of the second, upper aquifer. The apparent depth of the salar, as estimated by modelling gravity data, is in excess of 450 metres in the northern portion of the salar.
The drill program will consist of up to approximately 1000 metres of core drilling in five or six drill holes. Core will be recovered in polycarbonate sleeves with brine sampling carried out with a packer to isolate samples from any potential cross contamination between aquifers. All drill holes will be subjected to down-hole resistivity surveys and upon completion, piezometers will be installed for fluid flow monitoring. Core samples will be submitted for laboratory testing of hydrologic and sedimentary properties of the aquifer units.
Mina Rosa IV Acquisition
Further to the ongoing exploration work, the Company has secured the mineral rights to Rosa IV, a Mina (or mining concession) 2928 hectares in area that previously formed a small gap in the Companies’ 100% ownership of the mining rights to the entire Salar de Llullaillaco. The total area of the mining concessions for the joint venture within and surrounding the salar is 22,129 hectares (see attached map).
John Harrop, P.Geo, FGS, is a Qualified Person as defined under NI 43-101 and as supervised preparation of the technical information contained in this press release.
International Lithium Corp. is an exploration company with an outstanding portfolio of projects, strong management ownership, robust financial support and a strategic partner and keystone investor Ganfeng Lithium Co. Ltd., a leading China based lithium product manufacturer.
The Company’s primary focus is the Mariana lithium-potash brine project, within the renowned South American “Lithium Belt” that is the host to the vast majority of global lithium resources, reserves and production. The 160 square kilometre Mariana project strategically encompasses an entire mineral rich evaporate basin that ranks as one of the more prospective salars or ‘salt lakes” in the region.
Complementing the Company’s lithium brine project are three rare metals pegmatite properties in Canada known as the Mavis, Raleigh, and Forgan projects and one in Ireland (Avalonia project). The Avalonia project is under option to strategic partner Ganfeng Lithium and the Mavis project with strategic partner Pioneer Resources Limited. The Mavis, Raleigh and Forgan projects together form the basis of the Company’s newly created Upper Canada Lithium Pool designated to focus on acquiring numerous prospects with previously reported high concentrations of lithium in close proximity to existing infrastructure.
With the increasing demand for high tech rechargeable batteries used in vehicle propulsion technologies and portable electronics, lithium is paramount to tomorrow’s “green-tech”, sustainable economy. By positioning itself with solid development partners and acquiring high quality grass roots projects at an early stage of exploration, ILC aims to be the resource explorer of choice for investors in green tech and build value for its shareholders.
On behalf of the Board of Directors,
Kirill Klip
President, International Lithium Corp.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company’s future plans and objectives or expected results, are forward-looking statements. News release contains certain “Forward-Looking Statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company’s business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
No comments:
Post a Comment