11.04.2016 10:00:36
|
DGAP-News: International Lithium Corp
DGAP-News: International Lithium Corp. / Key word(s): Miscellaneous
International Lithium and Ganfeng Lithium Commence Drilling at the Avalonia
Lithium Project, Ireland
11.04.2016 / 10:00
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Vancouver, British Columbia--(Newsfile Corp. - April 11, 2016) -
International Lithium Corp. (TSXV: ILC.V) (the 'Company' or 'ILC') is
pleased to announce that on April 4, 2016 the Company initiated a 1750
metre diamond drill hole program at the Avalonia Lithium Project located in
Counties Carlow and Wicklow, Republic of Ireland. The current drill
program will consist of approximately 25 shallow drill holes and will focus
on expanding the strike length of the Aclare lithium bearing pegmatite
using the results of recent geophysics to follow the trend of the
granite-schist contact. Historical drilling, confirmed by ILC drilling in
2013, indicates that the lithium bearing pegmatite is at or near this
contact. Extensions to the pegmatites will be tested to the north and south
of historical work using the geophysical trace of this contact. In
addition, the drill program will test up to three additional blind targets
with no previous drilling. Numerous surface occurrences of spodumene
bearing pegmatite have been confirmed over a 30 kilometre strike length of
a prospective contact zone within the Leinster Pegmatite Belt. Exploration
efforts are hindered by a lack of outcrop and abundant soil cover. Initial
drilling campaigns designed to test soil geochemical survey targets
successfully intersected spodumene bearing pegmatites confirming the source
of anomalous soil geochemical signatures (news release dated 11 August,
2015). In an effort to more efficiently target these horizons, the Company
conducted magnetic susceptibility studies on drill core recovered from the
prospects (news release dated 8 December, 2015) and discovered that the
schistose host rocks have magnetic susceptibilities an order of magnitude
higher than the granites or pegmatites. In January 2016 the Company
completed a series of ground magnetometer surveys, designed to highlight
the contact zone between the metamorphosed country rocks and the lesser
magnetic pegmatites, over 6 key target areas. As a result of the recently
interpreted magnetic data sets in conjunction with soil geochemical survey
results the Company will also test regional, previously untested targets
during this stage of the program that includes the 'blind' Ballymurphy,
Aclare D and Aclare C targets which are based on integrated geological,
geochemical and geophysical results. Mr. Kirill Klip, President,
International Lithium Corp. comments, 'The Avalonia project joint venture,
fully funded by strategic partner Ganfeng Lithium Co. Ltd., ('GFL'), could
be of strategic importance to the European Union should a sufficient
resource be identified. Clean fuel technologies for motor vehicles are
becoming increasingly important to the European Economic Community to
tackle climate change and the air pollution crisis in major urban areas.
Lithium technology will play a major role when it comes to providing
batteries for communication devices, electric vehicles and utility storage
systems. Renewable sources of energy such as solar and wind power will also
benefit from lithium battery technologies and become more commonplace as
the problem of intermittency will be addressed providing steady power from
these sources 24/7.' Figure 1 Avalonia Lithium Project
Property Map [image:
http://orders.newsfilecorp.com/files/3232/20030_lithiu1.jpg] To
see an enhanced version of Figure 1, please visit:
http://orders.newsfilecorp.com/files/3232/20030_lithiu2.jpg John Harrop,
P.Geo, FGS, is the Company's Qualified Person on the project as defined
under NI 43-101 and has reviewed the technical information contained in
this press release. About International Lithium Corp. 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, within the renowned South
American 'Lithium Belt' that is the host to the vast majority of global
lithium resources, reserves and production. The 160 square kilometre
Mariana project strategically encompasses an entire mineral rich evaporate
basin that ranks as one of the more prospective salars or 'salt lakes' in
the region. Complementing the Company's lithium brine project are rare
metals pegmatite properties in Canada (Mavis and Raleigh projects) and
Ireland (Avalonia project). These projects reported highly encouraging
lithium mineralization in drill holes targeting pegmatites that are
unexposed at surface (news releases dated April 3, 2013, June 25, 2013 and
March 23, 2016). 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' 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 green
tech resource explorer of choice for investors and build value for its
shareholders. On behalf of the Board of Directors, Kirill Klip President,
International Lithium Corp. For more information please contact: Caroline
Klukowski (604) 687-7551 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.
Click on, or paste the following link into your web browser, to view the associated documents
http://www.newsfilecorp.com/release/20030
News Source: Newsfile
---------------------------------------------------------------------------
11.04.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English Company: International Lithium Corp. Canada ISIN: CA4598201065 End of News DGAP News Service ---------------------------------------------------------------------------
452981 11.04.2016
Wenn Sie mehr über das Thema Aktien erfahren wollen, finden Sie in unserem Ratgeber viele interessante Artikel dazu!
Jetzt informieren!
Nachrichten zu International Lithium Corpmehr Nachrichten
Keine Nachrichten verfügbar. |