International Lithium Corp. has the new website now and we are expecting announcements of the drill programs in Canada and Argentina in the nearest future.
The Lithium Report:
Blog, Lithium in the News
With the advent of electric vehicles, consumers around the world have the opportunity to be less vulnerable to volatile price increases in fuel costs as well as inherently benefit the environment through a reduction in carbon emissions. As the cost per barrel of oil continues to increase in conjunction with the continued advancements in Electric Vehicle technologies, a 5 percent penetration rate is generally projected by 2020. This introduction of Electric Vehicles on the road and the larger scale lithium-ion batteries that supply the power, translates to a marked leap in the demand for lithium carbonate this coming decade. Where will this new supply come from? International Lithium Corporation is an international lithium exploration company with strong management, excellent potential, and promising future growth in an emerging industry.
International Lithium Corp is a newly listed TSX Venture lithium company that established an initial public offering on May 24, 2011 through a spin-off of TNR Gold Corp.’s lithium and rare metal assets. With significant ownership by TNR Gold Corp, the company is strategically managed by a team with a history of exploring world class lithium and rare metal deposits.
Corporate management has a wealth of knowledge, experience, and significant invested interest in the company. President and Director Mike Sieb has over 22 years of demonstrating strong corporate growth and project management experience in international mining and exploration. He previously was president of Brilliant Mining Limited which was among the “Top 10 mining companies on the Toronto Stock Exchange“ for two consecutive years. He`s also surrounded by strong technical and financial personnel, including John Harrop (VP of Exploration) who has been involved in many aspects of gold and base metal exploration for the last 24 years with international field experience in North, Central, and South America. Interestingly, the entire management team had significant vested interest in the company. Out of a total of the 66 million total outstanding shares, TNR Gold Corp owns 29%, followed by Ganfeng Lithium at 9.99%, and non-executive chairman Kirill Klip with 11.5% of the business.
International Lithium Corp. earlier in the year had secured a prominent global lithium manufacturer in Ganfeng Lithium, among one of the first publicly listed lithium company in China. The Chinese lithium product manufacturer will have 9.99% equity in International Lithium Corporation and is a leading manufacturer of chemical processing, battery development, and technology products in Asia. This partnership is beneficial to the company by bringing significant project development assistance capabilities and provides for certain marketing and off-take rights. Wang Xiaoshen, General Manager of Ganfeng Lithium stated that “Lithium is increasingly becoming a vital global element and essential to Ganfeng lithium`s continued growth”.
International Lithium Corp. has over 9 projects worldwide balanced between lithium brine and rare metal hard-rock. Four lithium brine projects are located in Argentina and Nevada and five hard rock pegmatites in Canada and Ireland. The Company’s initial focus is on the Mariana Salar project in Argentina which is situated in the world renowned Lithium Belt of South America and south across the border from the largest lithium brine in the world (SQM`s Atacama producing brine) in Chile.
The 100% owned Mariana Salar covers approximately 160 square kilometres and strategically encompasses the entire basin. Preliminary samples returned average grades of 440 mg/L lithium and 12,700 mg/L potassium. Interestingly, the potassium levels 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. With rail, road, and seaport access available, this places the project in an attractive location. International Lithium Corp. has the ability to fast track the exploration and completion of an initial resource estimate in the first half of 2012.
Mike Sieb recently provided an update through an inaugural president`s message in July stating that the site preparation for the Phase 1 drill program at Mariana has been completed. This entailed the construction of a fully operational camp at site, the building of a 25 kilometre drill road network across the salar and the preparation of 8 drill platforms. The Company is currently evaluating drill contracts with the expectation to commence drilling at the first viable availability.
The Company is also actively working on developing its three lithium brine projects in Nevada (Fish Lake, Runway, Sarcobatus Flats) totalling 4800 hectares. The projects are situated in adjacent valleys to the Silver Peak Clayton valley lithium brine extraction operation that has been in production since 1967 and is the only producing facility in North America.
What are also generating much interest is the company’s Rare metal projects. Both Rare Metals and Lithium typically occur in pegmatite formations. As China continues to reduce exports in rare earth elements, companies like International Lithium Corporation who have rare metal projects should benefit for having properties with substantial value to both international corporations and governments that heavily rely on them. Most recently, the South Korean government and its wholly-owned subsidiary, Kores formed an alliance with Frontier Rare Earths to acquire 20 percent interest in the Zandkopsdrift project.
International Lithium Corp’s Moose property is located 115 km southeast of Yellowknife, in the Great Slave Lake area in the Northwest Territories close to Avalon’s rare earth elements Nachalacho deposit. The property was a past high grade Lithium and Tantalum producer over the years 1947 – 1954, and reported production of 119 tonnes of lithium and 4409 tonnes of ore grading 1.69 kg of tantalum, boasting one of the highest Tantalum head grades in Canada.
The Niemi & Forgan Lake projects are located nearby Georgia Lake in Ontario within an area with a long history of lithium bearing pegmatite exploration. The area saw considerable activity in the 1950s and is known to contain over 38 rare metal pegmatites.
The Mavis Lake and Fairservice projects are contiguous and located near Dryden, northwest Ontario. At Mavis a grab sample returned 2.11 wt% in lithium oxide and a 4.7 m channel sample graded 1.39% lithium oxide. Surface exploration revealed high-grade and well evolved Lithium and Tantalum zones along with significant levels of Cesium and Rubidium, spread across several pegmatite bodies within a 25 square kilometre claim.
The Blackstairs project is located in Ireland about 80 km southwest from Dublin. The company has successfully been granted eight licenses that extend 292 square kilometres and encompass 19 pegmatite bodies along a 30 km length. Geological surveys of Ireland in 1990 previously identified significant tantalum anomalies and historic drilling yielded 2.3% lithium over 1.4 m and 1.6% lithium over 5.5 m.
The power of lithium to solve the world’s energy needs through bringing efficient technologies in battery innovation and energy storage solutions has much promise going forward. This has made lithium as a new game-changing commodity that the world will increasingly rely on, whether it is small efficient batteries used for laptops, iPhones, cameras, portable electronics, or larger applications like batteries for the new electric vehicle industry or energy storage modules used to manage utility grids. As a result, the market will grow and one should keep an eye on International Lithium Corporation as we advance our projects in anticipation to meet this future demand."