Building The Secure Lithium Supply For Electric rEVolution: International Lithium Corp. Announces Strategic Changes.
“We are very pleased that the drill program at Mavis has commenced. The combined dedication of the ILC Team and joint venture partner Pioneer Resources Limited to move this program forward is wholly affirmed by the merits of the Project;” states Kirill Klip, Chairman, President and CEO International Lithium Corp. “Strategic partnerships are the cornerstone of our business model. They provide International Lithium with considerable access to capital and the vital technology necessary to advance and develop our projects”
International Lithium:
International Lithium Corp. and Pioneer Resources Initiate Drilling at the Mavis Lithium Pegmatite Project, Ontario, Canada
Vancouver, B.C. February 07, 2017, International Lithium Corp. (the “Company” or “ILC”) (TSX Venture:ILC.V) in conjunction with strategic partner Pioneer Resources Limited (“Pioneer”) (ASX:PIO) have initiated drilling at the Mavis lithium pegmatite project east of Dryden, Ontario, Canada (“Project”).
Key Highlights:
- 1,200-1,500 meter winter drill program commences under ideal site conditions;
- High grade spodumene Pegmatite 18 area exhibits favourable structural regime indicating potential for larger pegmatites;
- Magnetometer survey and lithogeochemical sampling program reveal pegmatite setting and new target areas; and
- Results produce highly anomalous lithium rock-sample area leading to the discovery of a new pegmatite to be drill tested during this program.
“We are very pleased that the drill program at Mavis has commenced. The combined dedication of the ILC Team and joint venture partner Pioneer Resources Limited to move this program forward is wholly affirmed by the merits of the Project;” states Kirill Klip, Chairman, President and CEO International Lithium Corp. “Strategic partnerships are the cornerstone of our business model. They provide International Lithium with considerable access to capital and the vital technology necessary to advance and develop our projects”
Mavis Lithium Project 2017 drill Program Location Map
Mavis Drill Program
The majority of the exploration activities performed in 2016 have been in preparation for this drill program. A continuous reading ground magnetometer walking survey (“Mag Survey”) totalling 330 kms was completed over the target areas of the Project. The Mag Survey successfully produced a very detailed magnetic map outlining geologic contacts, features and structures thereby providing a valuable tool to aid in the drill targeting process.
In order to refine the targets further, two campaigns of ground lithogeochemical sampling totalling 372 rock samples were collected from mafic volcanic host rocks at select locations across the Project. The rock sample results returned areas exhibiting highly anomalous values of lithium and associated elements; key pathfinders employed as a vectoring tool for the discovery of hidden or buried pegmatites. The anomalous lithogeochemical results overlain on the Mag Survey have provided the Company with an improved understanding of the setting of the pegmatites at Mavis; specifically the preferential horizons and structures that host them.
One of the main target areas that will be drilled during this program is host to the high-grade spodumene bearing Pegmatite 18, the most northeastern observed pegmatite and virtually untested by drilling to date. Previous field reconnaissance at Pegmatite 18 confirmed the observable strike length, in excess of 200m at surface, with grab samples grading up to 3.14% Li₂O* and one composite channel sample grading 1.22% Li₂O* over 5.3m (documented in the Company’s 2009 Ontario Work Assessment Report and NI43-101 technical report dated February 5th, 2010).
Pegmatite 18 is fairly unique relative to other pegmatites observed at Mavis. Pegmatite 18 is oriented perpendicular to the prevalent foliation, indicating a setting that may represent a favorable extensional stress regime with the ability to host a significantly larger pegmatite body. In addition there have been at least 4 closely stacked pegmatites mapped within the immediate vicinity and parallel to pegmatite 18, supporting the model for a preferential fluid pathway and nexus for emplacement.
*Note: Grab samples are by definition selective and are collected to determine the presence or absence of mineralization. As such they should not be relied upon and are unlikely to represent average grades on the property. Reported channel sample widths may not represent true widths of the pegmatite.
A second target area that will be drilled is in the vicinity of a 78m pegmatite intersection drilled in 2011 that reported 1.86% Li2O over 26.25m and 1.22% Li2O over 28.45m (hole MF11-12 reported in Company news release dated January 12, 2012). Subsequent drilling in 2012 confirmed the pegmatite intersection, but was insufficient to determine orientation and true thickness. The current drill program will employ oriented core to ascertain the attitude of this pegmatite as well as drill test the potential extension.
A third target area to be drilled, east of pegmatite 6, was developed through this year’s field program. Lithogeochemical samples returned an area of highly anomalous lithium pegmatite pathfinders and the Mag Survey revealed a coincident signature with the Fairservice pegmatites to the west. Follow-up ground reconnaissance in this target area discovered a pegmatite of indeterminate size bordered by a low swampy area.
Additional target areas have been derived from the analysis of this year’s field program that will be followed-up in subsequent phases of exploration.
This drill program is a re-initialization of the drill program that was postponed in December due to adverse conditions resulting from unseasonable weather and heavy precipitation (Company news release dated December 13, 2016). Site conditions are currently ideal with the frozen ground facilitating drill moves and promoting a reduced degree of environmental impact.
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.
Mavis Lithium Pegmatite Project
The Mavis Lithium Project is situated 19 kilometres east from the town of Dryden, Ontario. The Project is ideally situated 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.
The current drill program will be wholly funded by Pioneer as part of their earn-in on the Project (See details regarding the terms of the Mavis option agreements in Company news releases dated June 22, 2016).
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 Mariana project strategically encompasses an entire mineral rich evaporate basin, totalling 160 square kilometres, 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
Chairman, President and CEO 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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