We have a very impressive results from International Lithium Corp. today. Mavis Lake drill program has delivered the best Lithium intersections with high LI grades in Canada for the 2011 season at least! Project is growing into very promising discovery and other REM are to be reported later. Now we can see what Ganfeng Lithium was looking for during their 9 months DD on this company. Drills are primed now for Mariana Lithium and Potash project in Argentina and we hope it is only the beginning of the good news for this promising company.
Company is very tightly held with 10% stake by Ganfeng Lithium and insiders hold more than 50% of the company. Insiders were only buying from the moment of spin out this company last May.
International Lithium Corp. ("ILC") a "Clean Tech" lithium resource developer with a global portfolio of lithium assets. It is 29% owned by TNR Gold Corp (TNR:TSX).
International Lithium Corp. ("ILC") currently holds highly prospective projects in the most prolific areas of the world for lithium and rare metals. ILC has recently secured a strategic investor, Jiangxi Ganfeng Lithium Co Ltd, from China, with focus on advancing the core ILC projects.
International Lithium Corp. ("ILC") currently holds highly prospective projects in the most prolific areas of the world for lithium and rare metals. ILC has recently secured a strategic investor, Jiangxi Ganfeng Lithium Co Ltd, from China, with focus on advancing the core ILC projects.
Mike Sieb, President of International Lithium Corp. “Lithium Exploration in Renowned ‘Lithium Belt’ of South America” Video Interview at Hard Assets SF 2011
"We have an interesting interview with Mike Sieb - President of International Lithium Corp. Insiders are only buying this stock and Chinese partner apparently has spent 9 months doing DD on this company. We are looking forward to the announced drill campaign at Mariana Lithium and Brine project in Argentina now."
78 Metre Pegmatite Intersection Returns High Grade Lithium Mavis Lake - Fairservice Lithium and Rare Project, Ontario
January 10, 2012 at 16:46:20 EST
International Lithium Corp. ("ILC" or the "Company") is pleased to announce lithium assay results from the Company’s recent drill program on the lithium and rare metals pegmatite field spanning the Company’s contiguous Mavis Lake and Fairservice claim blocks near Dryden Ontario.
Key Highlights:
· 1.86% Li2O over 26.25m and 1.22% Li2O over 28.45mintersected in drill hole MF11-12;
· 78m pegmatite intersection in hole MF11-12 interpreted as a new occurrence;
· 2.58% Li2O over 7.80m intersected in drill hole MF11-09;
· 13 of 17 drill holes intersecting pegmatites >2 metres thick returned notable lithium grades; and
· Only Li2O grades are reported with other rare metals analyses anticipated shortly.
“This preliminary drill program exceeded expectations by revealing more extensive pegmatite intersections than anticipated and a previously unknown near-surface pegmatite that attests to the under-explored potential of the project” states Mike Sieb, President of the Company. “In addition, the lithium grades observed fully support the decision to expand the scope of the project in the coming year”.
Recent Drill Program
The objective of the recent 20-hole 1,753 metre drill program carried out on the Fairservice / Mavis Lake project in August-September 2011 was to test approximately eight pegmatites below their surface expressions and to confirm historical grades and width. In addition, drill holes tested for subsurface continuity along strike and between pegmatite outcrops. The program was successful in attaining its prime objectives.
The following table reports the highlighted intersections with only Li2O% reported to date:
Hole | From (m) | To (m) | Length* | Li2O % |
|---|---|---|---|---|
MF11-01 | 2.20 | 6.00 | 3.80 | 0.89 |
MF11-05 | 0.90 | 7.00 | 6.10 | 1.01 |
MF11-07 | 4.10 | 9.00 | 4.90 | 1.48 |
MF11-08 | 2.25 | 11.00 | 8.75 | 1.83 |
MF11-09 | 18.85 | 26.65 | 7.80 | 2.58 |
incl | 20.00 | 25.00 | 5.00 | 3.08 |
MF11-11 | 2.00 | 6.10 | 4.10 | 1.27 |
MF11-12 | 29.00 | 33.00 | 4.00 | 1.15 |
and | 116.95 | 145.40 | 28.45 | 1.22 |
incl | 125.00 | 141.00 | 16.00 | 1.63 |
and | 152.00 | 178.25 | 26.25 | 1.86 |
MF11-13 | 17.10 | 25.80 | 8.70 | 1.08 |
incl | 19.00 | 24.00 | 5.00 | 1.44 |
MF11-14 | 24.00 | 27.00 | 3.00 | 2.91 |
MF11-15 | 78.40 | 85.00 | 6.60 | 1.38 |
MF11-16 | 88.00 | 97.00 | 9.00 | 0.93 |
incl | 89.35 | 94.00 | 4.65 | 1.23 |
MF11-17 | 31.10 | 39.50 | 8.40 | 0.53 |
MF11-19 | 20.00 | 26.00 | 6.00 | 0.92 |
* All widths reported are drill core widths and have not been converted into true width.
The vast majority of the drill holes were oriented perpendicular to the surface trace of mapped pegmatites and parallel to historical drilling in order to confirm historic grades and widths. Most pegmatite targets were scissored by drilling from both north and south directions to provide a valuable structural interpretation for future exploration programs.
Hole MF11-12 was noteworthy due to its long intersection of a previously unknown pegmatite body. The intersection contains multiple intervals of significant lithium values, as reported in the table above, deeper than the limit and further to the north of previous drill results adding to the prospectivity of the property. In this instance the drilling has not provided the Company with sufficient information to determine the true thickness, shape and orientation of this newly discovered body.
Hole MF11-09, drilled 200 metres east of MF11-12,targeting a separate series of surface pegmatite expressions, reported a high grade lithium intersection of 2.58% Li2O over 7.8 metres including 5.0 metres grading 3.08% Li2O.
Of the 17 diamond drill holes with pegmatite intersections of greater than 2 metres, 13 returned significant lithium grades in these intersections. Only Li2O grades have been reported with the other rare metals elemental analyses such as tantalum, cesium and rubidium are pending.
Laboratory work was conducted by Activation Laboratories Ltd of Ancaster, Ontario with the samples being submitted by Company staff to their Dryden prep facilities. Activation Laboratories is an accredited laboratory with ISO 17025:2005 and CAN-P-1579 certification. Analysis was conducted using both four acid digestion and sodium peroxide fusion followed by ICP-MS.
The Company uses industry recognized practices to ensure quality control. To support this, a number of large samples were collected from surface sites known to have significant lithium and tantalum values. Following preliminary analysis a blend of these samples is being used to develop a certified reference material matrix matched to the Companies pegmatite projects. The new reference material has been inserted into the sample stream at the Property and will be utilized on other Company projects.
Mavis Lake - Fairservice Property Area - General
The Mavis Lake – Fairservice property is located 15 km Northeast of Dryden, Ontario. The property is easily accessed via the Trans-Canada Highway and a series of logging roads. The claim blocks comprise a total of 2,624 hectares and straddle a continuous pegmatite field exhibiting high-grade, well-evolved, lithium and tantalum zonation as well as significant levels of cesium and rubidium.
Regional pegmatite mineralization is directly associated with the strongly peraluminous Ghost Lake Pluton and relatedpegmatitic granite dykes. Rare metal mineralization in the Mavis Lake area occurs in zoned pegmatites hosted by maficmetavolcanic rocks. Rare metal mineralization occurs in four zones: internal beryl zone within the parent of the Ghost Lake pluton that evolves to the east within the Fairservice and Mavis Lake claim blocks into external zones of beryl-columbite, spodumene-beryl-tantalite and albite-type pegmatites.
John Harrop, P.Geo, is the company’s qualified person on the project as required under NI 43-101 and has reviewed the technical information contained in this press release.
For more information on the Mavis Lake - Fairservice Project, please refer to the Company’s press release dated October 11, 2011 and visit International Lithium Corp.’s website at www.internationallithium.com.
ABOUT INTERNATIONAL LITHIUM CORP
International Lithium Corp. is an international rare metals mineral exploration company with an outstanding portfolio of projects, strong management ownership, robust financial support and a strategic partner, Jiangxi Ganfeng Lithium Co. Ltd., a leading China based lithium product manufacturer, as a keystone investor.
ILC currently has 9 active rare metals 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 rare metals pegmatite properties. The key characteristics shared by the hard-rock rare metals 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 rare metals 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of theTSX 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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