Thursday, January 19, 2012

International Lithium Corp.: Phase 1 Drill Program Has Commenced Mariana Lithium Brine Project, Argentina ilc, tnr.v, czx.v, rm.v, lmr.v, abn.v, asm.v, btt.v, bva.v, bvg.v, epz.v, fst.v, gbn.v, hao.v, jnn.v, ks.v, ktn.v, kxm.v, mgn, mxr.v,, svb, ura.v,,,

International Lithium Corp. Advances Impressive Property Portfolio With Phase 1 Drill Completion

"Exploring for lithium and rare metals in some of the world’s most prolific regions, International Lithium Corp. (TSX-V: ILC) was conceived 2 years ago as a spin-out of TNR Gold Corp. (TSX-V: TNR) in a bid to take advantage of the increased investor interest in the Lithium and Rare Metals sector as well as the significant potential valuation realized through the spin out.

ILC boasts a balanced portfolio of 9 lithium brine and rare metals pegmatite properties and, with its IPO completed and a recent flow-through financing of $1 million under its belt, is now focused on advancing 3 properties in particular – the Mariana lithium brine property in Argentina, the Moose lithium/rare metals property in NWT, Canada and the Mavis Lake lithium/rare metals property in Ontario."

International Lithium: 78 Metre Pegmatite Intersection Returns High Grade Lithium Mavis Lake - Fairservice Lithium and Rare Project, Ontario 

"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.

    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.

    International Lithium Corp. 


    International Lithium Corp. 
    January 17, 2012 08:30 ET

    International Lithium Corp.: Phase 1 Drill Program Has Commenced Mariana Lithium Brine Project, Argentina

    VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 17, 2012) - International Lithium Corp. ("ILC" or the "Company") (TSX VENTURE:ILC)(TSX VENTURE:ILC.WT) is pleased to announce the Phase 1 resource delineation reverse circulation drill program has commenced at the Mariana lithium brine project in the province of Salta, northwestern Argentina.
    Key Highlights:
    • Drilling has commenced at the Mariana lithium brine project;
    • Initial drill program of wide spaced drill holes to optimize coverage:
    • Objective is to characterize the subsurface brine grade across different regions within the salar;
    • In preparation of an extensive Phase 2 drill program.
    "This Phase 1 drill program on the Company's Mariana lithium brine project is much anticipated and will provide the basis to rightfully rank the project amongst some of the more advanced projects in the world," states Mike Sieb, President of the Company.
    Mariana Drill Program
    The Company has commenced a 3-5 hole Phase 1 drill program on the Mariana lithium brine property. The goals include a) geochemical characterization of the subsurface brine across different regions within the basin, b) identification of the stratigraphy for a geological model of the salar, and c) identification and characterization of the aquifer potential of the basement of the salar. The Company's intent is to utilize this drill program as a first step towards a resource classification of the brine. Subsequent to completion and analysis of results, a more extensive Phase 2 drill program will be planned that will focus on the priority areas of the salar identified through the current program. The objective of the Phase 2 drill program will be to continue to delineate, characterize and add to the confidence level of the geochemistry of the host aquifer; with an Inferred Resource estimate targeted for late 2012.
    About the Mariana Project
    The Mariana lithium brine project in Argentina, covering an expansive 160 square kilometres, revealed highly compelling geochemistry from a preliminary investigation that returned 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.
    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.
    International Lithium Corp. is an international rare element metals ("REM") 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 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 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.
    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."

    Enhanced by Zemanta
    Post a Comment