We have another discovery at our Avalonia J/V project In Ireland with $4.5 billion giant from China Ganfeng Lithium.
"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."
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"Mr. Kirill Klip, President, International Lithium Corp. comments, “The Avalonia project joint venture, fully funded by strategic partner Ganfeng Lithium Co. Ltd., (“GFL”), could be of strategic importance to the European Union should a sufficient resource be identified. Clean fuel technologies for motor vehicles are becoming increasingly important to the European Economic Community to tackle climate change and the air pollution crisis in major urban areas. Lithium technology will play a major role when it comes to providing batteries for communication devices, electric vehicles and utility storage systems. Renewable sources of energy such as solar and wind power will also benefit from lithium battery technologies and become more commonplace as the problem of intermittency will be addressed providing steady power from these sources 24/7.”
International Lithium At Wentworth 2016 Presentation.
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International Lithium:
International Lithium And Ganfeng Lithium Discover New Pegmatite At The Avalonia Lithium Project, Ireland.
VANCOUVER, BC / ACCESSWIRE / June 9, 2016 / International Lithium Corp. (TSXV: ILC) (the "Company" or "ILC") is pleased to announce that the Company has completed the drill programme announced on 11 April 2016 at the Avalonia Lithium Project located in Counties Carlow and Wicklow, Republic of Ireland.
Highlights of the drilling include the discovery of a new pegmatite body in the Aclare area. Three drill holes intersected the previously unknown pegmatite phase 450 metres east of the main Aclare pegmatites. This new pegmatite is hosted in a granite sill parallel and adjacent to the granite sill hosting the main Aclare pegmatites where drill hole ACL13-04 intersected 2.23% Li2O over a drill width of 23.3 metres, including 3.43% Li2O over 6 metres (Company news release dated June 25, 2013). All widths reported are drill widths and have not been converted into true widths. The discovery proves the lateral extent of the lithium pegmatite occurrences is greater than previously known, consequently opening more ground for potential discoveries.
Spodumene bearing pegmatite boulders were discovered in field walls between the new pegmatite and the Aclare mineralization. These boulders contain spodumene crystals that are greater than 40 centimetres in length and some of the largest identified on the property to date.
About the Drill Program
A total of 23 diamond drill holes comprising 1,756 metres of NQ sized core were completed in the central part of the Avalonia Project's lithium belt and entirely within County Carlow. Of these, 10 holes focussed on further delineating pegmatites in the Aclare area. Down-dip extension and infill drilling was used to delineate the distribution of lithium and rare metals in the system and identify thickening vectors of the pegmatite body.
Four of the delineation drill holes tested a geophysical feature interpreted to be the granite-schist contact to the immediate northeast of the Aclare pegmatites. In the Aclare area, proximity to the hanging wall contact of granite sills is considered highly prospective for hosting lithium-bearing pegmatites. These four holes demonstrate that magnetic surveys can trace these granite sill contacts within the schist.
Core samples have been cut and collected for all pegmatite intersections and prospective units, which amounted to 15% of the total core recovered. Samples have now been shipped to the Bureau Veritas laboratory in Krakow, Poland for processing. All analytical results are pending.
Planned Work
Additional work is planned for later this summer in the Moylisha area where the Company previously reported 1.50% Li2O over 5.6 metres in drill hole MOY13-02 (news release dated June 25, 2013). The work will include trenching to develop drill targets in this area where there are extensive boulder trains of spodumene bearing pegmatite and some grab samples returned assays as high as 4.59%, 3.45%, and 3.27% Li2O (Company news release dated January 31, 2012). These boulders have not yet been traced back to source. Grab samples are by definition selective and may not represent average grades on the property. Pending analytical results further drilling may be planned to target potential sources of the newly enhanced boulder train at Aclare.
Gary Schellenberg, CEO, International Lithium Corp. comments, "This programme was successful in both delineating further mineralization at one of the project's main lithium pegmatites, and testing earlier stage targets we have advanced along the belt. Developing the pegmatite at Aclare is a high priority, but we also firmly believe in the potential for significant undiscovered pegmatites along the entire 30-kilometre belt. We are particularly looking forward to returning to explore the extensive pegmatite boulder trains at Moylisha"
John Harrop, P.Geo, FGS, is a Qualified Person as defined under NI 43-101 and has supervised the preparation of 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, a joint venture with Ganfeng Lithium Co. Ltd. within the renowned South American "Lithium Belt" that is the host to the vast majority of global lithium resources, reserves and production. The 221 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 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 (PIO:ASX). 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" 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 green tech resource explorer of choice for investors and build value for its shareholders.
On behalf of the Board of Directors,
Kirill Klip
President, International Lithium Corp.
President, International Lithium Corp.
For further information regarding this news release contact Caroline Klukowski (Corporate Communications) at 604.687.7551 or view the website at www.internationallithium.com
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 futureplans 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.
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