“Lithium is becoming an increasing vital element that will be essential in the development of sustainable technologies to curb global warming emissions,” noted Wang Xiaoshen, General Manager of Ganfeng Lithium. “We look forward to having additional Lithium supply source in the future from ILC to meet our growing demand for Lithium element.”
Our Top Pick in Lithium and Rare Metals sector is getting on the strong footing and is going to hit with drills the grounds in Argentina and Canada with the exploration programmes this summer. Company is moving very fast forward and just after its IPO in May has already build the camp, drilling pads and roads on its Mariana Brine project in Argentina. It looks like everything is ready for the drilling campaign just after the winter in Argentina.
Geo-Chemical analysis will be the very important step in order to determine the potential of this 100% owned impressive property by its size in Argentina. Potash grades are already exceptional and, once confirmed by other samples, will provide the nice credit to the future economic assessment of this project. FMC Lithium has started Potash production from its Salar Hombre Muerto in Argentina this year.
Company is talking about drilling at its Canadian properties as well and it could be very intriguing with recent news about Galaxy's advance in Australia and its shipments of spodumene concentrate to China. Strategic investor in International Lithium - Chinese lithium products manufacturer Ganfeng Lithium - is covering all angles by securing this strategic opportunity for potential access to the supply of Lithium produced from Brines and Lithium and spodumene concentrate from Lithium hard rock mining projects in Canada and Ireland.
In the latest news from Nevada - where International Lithium has three brine projects - Lithium Corp. has reported well received by the market exploration results from the Fish Lake project, which is adjacent to ILC's project with the same name. Lithium grades in Nevada will be lower than even the indicated ones now in Argentina, but the idea of secure domestic supply of Lithium for the U.S. is keeping this market rolling and International Lithium is well positioned there as well.
We have noticed that the company has its page now on the Financial Post and expect that ILC will get on the radar screens of the investment community soon. Recent soft market can provide us with some opportunity to accumulate more our position at the IPO level with all these strategic players and we do not mind to buy with the CEO of the company. We are more than biased here, fully loaded with our position in TNR Gold and this company, intoxicated by Lithium and Rare Earths with the ideas of Peak Oil and Electric Cars and should not be of any guidance for any investment decisions.
International Lithium Corp. (ILC) | As of July 5th, 2011 | ||||||
| Filing Date | Transaction Date | Insider Name | Ownership Type | Securities | Nature of transaction | # or value acquired or disposed of | Unit Price |
| Jun 13/11 | May 19/11 | Dewonck, Bernard | Direct Ownership | Common Shares | 00 - Opening Balance-Initial SEDI Report | ||
| Jun 07/11 | Jun 06/11 | Schellenberg, Gary David Albert | Indirect Ownership | Common Shares | 10 - Acquisition in the public market | 5,000 | $0.200 |
| Jun 07/11 | Jun 06/11 | Schellenberg, Gary David Albert | Indirect Ownership | Common Shares | 10 - Acquisition in the public market | 4,500 | $0.220 |
| Jun 07/11 | May 24/11 | Schellenberg, Gary David Albert | Indirect Ownership | Common Shares | 10 - Acquisition in the public market | 500 | $0.220 |
| Jun 07/11 | May 24/11 | Schellenberg, Gary David Albert | Indirect Ownership | Common Shares | 10 - Acquisition in the public market | 5,000 | $0.250 |
| Jun 07/11 | May 24/11 | Schellenberg, Gary David Albert | Indirect Ownership | Common Shares | 10 - Acquisition in the public market | 5,000 | $0.200 |
| Jun 06/11 | Jun 06/11 | Bella, Michael | Direct Ownership | Common Shares | 10 - Acquisition in the public market | 5,000 | $0.200 |
| Jun 02/11 | May 20/11 | GFL International Co., Ltd. | Direct Ownership | Warrants | 00 - Opening Balance-Initial SEDI Report | ||
| Jun 02/11 | May 20/11 | GFL International Co., Ltd. | Direct Ownership | Common Shares | 00 - Opening Balance-Initial SEDI Report | ||
| May 30/11 | May 19/11 | Raymond W. Smith Ltd. | Direct Ownership | Warrants | 11 - Acquisition carried out privately | 1,000,000 | $0.375 |
"Ganfeng Lithium takes its strategic investment in International Lithium very seriously and has appointed its top officer to the ILC Board. Couple of other insiders have announced their stake in International Lithium today. Company is very tightly held: TNR Gold has just under 30%, Non Executive Chairman Kirill Klip has 11.5%, Ganfeng Lithium has 9.9% and two other major TNR Gold shareholders have just under 10% and just under 6% respectively. Almost 70% of the company is held by strong insiders' hands and Ganfeng Lithium has the agreement in place to increase its stake in ILC."
Please, do not forget, that we own stocks we are writing about and have position in these companies. We are not providing any investment advise on this blog and there is no solicitation to buy or sell any particular company here. Always consult with your qualified financial adviser before making any investment decisions.
July 06, 2011 16:37 ET
Inaugral International Lithium Corp. President's Message; Argentina and Canada Project Update
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 6, 2011) - It is with great anticipation that I greet you with this inaugural President's Message. From International Lithium Corp.'s ("ILC") (TSX VENTURE:ILC)(TSX VENTURE:ILC.WT)(PINK SHEETS:ILHMF) (inception in 2009, to successful completion of a plan of arrangement resulting in the spin-out from TNR Gold Corp. and public listing on May 24, 2011 on the TSX Venture Exchange, we have accomplished much.
The Company's formative year was primarily focused on acquiring high quality projects by initially assembling a qualified team to source out rare element metal ("REM") opportunities. As a result of our labors, International Lithium has developed a robust portfolio of projects geographically and commodity diverse; balanced between lithium brine and REM hard-rock pegmatite projects. While the last year has seen our efforts directed to completion of the plan of arrangement and all the interminable tasks associated with taking a company public, raising of sufficient funds to fulfill the listing requirements and the signing of a strategic partnership agreement, we expect an even more fulfilling 2011-2012 for ILC.
It is gratifying to witness a concept taken to reality, but more so when the vision is understood and endorsed by others. Through the oversubscription of ILC's initial financing and the commitment by Jiangxi Ganfeng Lithium Co. Ltd., a leading China based multi-product lithium manufacturer who intends to contribute current and future project development assistance capability, we have placed a solid first step on the path to accomplishing our goals.
International Lithium is currently embarking on the next stage of its development which will entail the aggressive exploration of its various drill ready projects. From the expansive Mariana lithium brine project located in the world renowned 'Lithium Belt' in Argentina, to the Company's three Nevada lithium brine projects and our high grade hard-rock REM projects in Canada and Ireland, we are determined to realize the value envisioned by our team.
Support starts from within and with greater than 50% of the outstanding shares held by management and insiders we can guarantee a significant vested interest in the growth and success of this enterprise.
International Lithium Corp. is fresh to the public's eye, but we have been preparing the stage for some time. Through our people, projects and support, we will strive to continue to advance our projects and instill value in all our endeavours. In addition, we will continue to maintain good communication with our shareholders. This will be accomplished by initially informing you as our various exploration programs commence and continuously providing timely updates as we advance those projects.
MARIANA LITHIUM BRINE PROJECT UPDATE – ARGENTINA
The site preparation for the Phase 1 drill program at Mariana is complete. Through April to June 2011 a 20-person fully operational camp was erected at site, a 25 kilometre drill road network was constructed across the salar and 8 drill platforms were prepared. The Company is currently evaluating drill contracts with the expectation to commence drilling at the first viable availability.
The Mariana lithium brine project in Argentina, covering an expansive 160 square kilometres, revealed highly compelling geochemistry from a preliminary investigation that reported average grades of 440 mg/L lithium and 12,700 mg/L potassium. The potassium levels were unexpected and represent one of the highest grades comparative to any of the neighbouring salars outside of the world class operation on the Atacama salar in Chile. The objective of the Phase 1 drill program is to identify and isolate separate brine horizons for a first-time representative characterization of the subsurface brine geochemistry. Subsequent drilling will continue to delineate and add to the confidence level of the geochemistry of the subsurface brine pool with an Inferred Resource estimate targeted for early next year.
CANADIAN RARE METAL PROJECT UPDATE
ILC's property portfolio is well balanced by a number of highly prospective rare metals' hard-rock pegmatite projects. Highlighting these rare metals' projects is the Moose property located near the shore of Great Slave Lake in the NWT which was a minor lithium and tantalum producer in the 1950's with reported production of 119 tonnes of lithium ore and an estimated 4,409 tonnes of high grade tantalum-niobium ore. The 2010 exploration program encountered limited exposure, however a channel sample returned 1.50 wt% Li2O over 7.5 metres confirming the continuity of high grade lithium across substantial widths within the pegmatite and a muck pile sample returned 8.44 wt% Li2O indicating that the source pegmatite is highly evolved and underscores the potential of the property. In support of the untested potential, the historic exploration and mining did not penetrate below 25 metres in depth or extend beyond the local workings.
In addition, surface exploration on the Mavis Lake rare metals' project, located 15 km Northeast of Dryden, Ontario, revealed high-grade well-evolved lithium and tantalum zonation as well as significant levels of cesium and rubidium across multiple pegmatite bodies.
Both the Moose and Mavis Lake projects are clearly emerging as premier multi-element rare metals projects. The Company is currently planning drill programs commencing in late summer 2011 to determine their potential.
ABOUT INTERNATIONAL LITHIUM CORP.
International Lithium Corp. is an international rare element metals ("REM") mineral exploration company with an outstanding portfolio of projects, strong management ownership, robust financial support and a prominent lithium product manufacturer as a keystone investor.
ILC currently has 9 active REM projects, well balanced between lithium brines in Argentina and Nevada and hard-rock pegmatites in Canada and Ireland. The Company's primary focus is the Mariana lithium brine project, a salar or 'salt lake', covering an expansive 160 square kilometres and strategically encompassing the entire basin. Mariana is located in the renowned South American 'Lithium Belt' centred on the junction of Argentina, Bolivia and Chile that is host to the vast majority of global lithium resources, reserves and production. The Mariana lithium brine project ranks as one of the more prospective salars in the region.
Complementing the Company's lithium brine projects are the REM pegmatite properties. The key characteristics shared by the hard-rock REM projects are their limited past exploration, excellent accessibility, limited assaying for rare metals, clear potential for additional exploration to add project value and development potential to meet the global technological growth in demand for the REM suite of elements.
International Lithium Corp.'s mandate is to increase shareholder value through aggressive advancement of its core projects and to source joint venture partners to expand the scope and diversify risk of its exploration effort.
On behalf of the Board,
Mike Sieb, President – International Lithium Corp.
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.
Shares CUSIP: #459820 10 6
Warrants Symbol: ILC.WT
Warrant CUSIP: #459820 11 4
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."
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