“This brings the total amount budgeted for exploration to CAD$17 million across the Company’s projects in Canada, Argentina and Ireland, making International Lithium Corp. one of the most active exploration companies in the lithium sector. This speaks volumes for the quality as well as the potential of the Company’s projects,” states Kirill Klip, President, International Lithium Corp.”
International Lithium And Pioneer Resources Discover Lost Pegmatite, Increase Claim Area By 80% And Execute Option Agreement At the Raleigh Lithium Pegmatite Project, Ontario, Canada
"International Lithium goes with its strategic partners to the places where Lithium is found and now is building the secure lithium supply for Energy rEVolution and Electric cars in North America. Read the NR."
International Lithium Corp. Options Raleigh Lithium Pegmatite Project, Ontario To Strategic Partner Pioneer Resources Limited.
Race For Renewable Energy Technologies Charges Lithium Market. Chinese Lithium Leader Secures Supply Sources.
“Our vision is to establish multiple deposits located in the same area with a central processing plant,” states ILC President Kirill Klip in an exclusive interview. “It will allow us to minimise the CAPEX and reduce operating expenses.”“The future is electric,” confirms Klip. “The Tesla Model 3 booked 325,000 reservations in one week. ILC intends to seize this opportunity to advance the Upper Canada lithium project to meet the rising demand from electric cars and communication devices.”
International Lithium Corp. and Pioneer Resources Execute Option Agreement On Mavis Lake Project, Ontario, Canada.
“Our objective is to become a leading global developer of Lithium projects,” stated Gary Schellenberg, CEO of ILC, in an exclusive interview. “Our projects in Argentina and Ireland have attracted investment from big players, which has set the stage for our new Upper Canada project partnership with Pioneer Resources Limited of Australia.” ILC’s Mavis, Forgan and Raleigh projects in the Upper Canada Lithium Pool have fulfilled the company’s objective to acquire a multinational project portfolio, thereby decreasing geo-political risk for shareholders.
International Lithium Corp. President’s Message.
"ILC is unique in that we not only have a very strong financial partner providing capital for our joint venture projects, but Ganfeng is also the end user. They have 19 processing patents and are the only lithium materials producer capable of working with both brine and spodumene sources of lithium raw materials. We are developing projects that will potentially produce the lithium source material they require for processing. We are also applying the strategic partner model to our North American projects and are using the exploration knowledge gained at Avalonia in Ireland to build up our Upper Canada Lithium Pool projects."
International Lithium: New Discoveries With Ganfeng Lithium In Ireland and Argentina.
"We are very pleased to celebrate our 5th IPO anniversary with our strategic partner $4.5 Billion giant from China Ganfeng Lithium. These new discoveries at Mariana Lithium Brine J/V project in Argentina and at Avalonia Lithium Hard Rock J/V project in Ireland show International Lithium's very deep technical Team at its best, delivering the results based on the advanced exploration technologies developed by ILC both for lithium brine and lithium hard rock projects. On behalf of all shareholders, I would like to thank all ILC Team and particularly Gary Schellenberg, Anthony Covacs, John Harrop, Bruno Kasper and Mike Sieb for these outstanding exploration results bringing Mariana and Avalonia projects to the new level of development."
Please carefully read my legal disclaimer, nothing on this blog represents investment and/or tax advice. Please always consult your qualified financial adviser before making any investment decisions.
Electric Cars rEVolution: Lithium Is The New Gasoline - Goldman Sachs' Bob Koort.
"When UBS talks about coming parity for the cost of ownership of Electric Cars and ICE vehicles, people are listening. When Goldman Sachs talks about Lithium investors will listen carefully as well. Here we have been talking about both subjects for years and, hopefully, you are ready for what is coming now."
International Lithium:
International Lithium Corp. and Pioneer Resources Plan $1 Million Exploration Budget at the Mavis and Raleigh Lithium Pegmatite Projects, Ontario, Canada
Vancouver, B.C. July 28, 2016, International Lithium Corp. (the “Company” or “ILC”) (TSX Venture:ILC.V) is pleased to announce that strategic partner Pioneer Resources Limited (“Pioneer”) (ASX:PIO) is planning $1 million in exploration expenditures in 2016 on the Mavis and Raleigh lithium pegmatite projects east of Dryden, Ontario, Canada.
“This brings the total amount budgeted for exploration to CAD$17 million across the Company’s projects in Canada, Argentina and Ireland, making International Lithium Corp. one of the most active exploration companies in the lithium sector. This speaks volumes for the quality as well as the potential of the Company’s projects,” states Kirill Klip, President, International Lithium Corp.”
Mavis and Raleigh Exploration Programs
The $1 million budget will be allocated fairly evenly across the Mavis and Raleigh lithium pegmatite projects (“Projects”). The exploration programs will include litho-geochemical sampling, ground and airborne geophysics and 3,000m of diamond drilling with 1,500m planned at each of the Projects in autumn 2016.
To date a continuous-reading ground magnetic survey has been completed over much of the Mavis Lake Lithium Project and data processing is underway. In addition, mapping and litho-geochemical rock sampling (170 samples submitted for assay) have been completed to refine targets ahead of drilling.
Field crews will undertake similar exploration programs of geophysics, mapping and litho-geochemistry at Raleigh later this month. Magnetic survey options are being investigated to best suit the local terrain with consideration being given to the use of a low-altitude high-resolution aeromagnetic system.
The Mavis and Raleigh Lithium Projects are situated 19 and 80 kilometres east respectively from the town of Dryden, Ontario. Both Projects are in close vicinity to the Trans-Canada highway and railway major transportation arteries linking larger cities such as Thunder Bay, Ontario, to the southeast and Winnipeg, Manitoba, to the west.
When rare-metal pegmatites are emplaced, the host rocks adjacent to the pegmatite are enriched by the associated fluids forming a rare-metals’ dispersion halo around the pegmatite body. Normally the extent of the rare-metal alteration halo is within meters of the pegmatite, but the pegmatite belts at Mavis and Raleigh exhibit some of the broadest and strongest host-rock lithium anomalies observed around the world denoting an intense mineralizing system.
Previous exploration campaigns on the Projects successfully discovered spodumene bearing high-grade lithium pegmatites within these anomalous bands (see Company news releases March 14, March 23, July 13 and July 25, 2016 for further details).
The close proximity of the Projects presents clear strategic and operational advantages. ILC is pursuing lithium prospects with reported high grades in this region and seeking to consolidate them with the aim to identify sufficient resources in multiple prospects to potentially feed a common processing facility. The Upper Canada Lithium Pool is the anticipated geographical consolidation of projects and partnered companies hosting amenable grade, volume, access and infrastructure in order to mitigate the financial burden on any one company when advancing specific projects to reach this goal.
John Harrop, P.Geo, FGS, is a Qualified Person as defined under NI 43-101 who has supervised preparation of the technical information contained in this news 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 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 project in Ireland (Avalonia project) that encompasses an extensive 50km long pegmatite belt. The Avalonia project is under option to strategic partner Ganfeng Lithium and the Mavis and Raleigh projects 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”, 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.
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