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or Name
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International Lithium Corp
Symbol ILC
Shares Issued 90,003,046
Close 2017-10-17 C$ 0.14
Market Cap C$ 12,600,426
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Int'l Lithium drills 26.3 m of 1.7% Li2O at Mavis

2017-10-17 13:22 ET - News Release

Mr. Kirill Klip reports

INTERNATIONAL LITHIUM PROVIDES UPDATE ON EXPLORATION STRATEGY FOR MAVIS LITHIUM PROJECT, ONTARIO, CANADA

International Lithium Corp., with strategic partner Pioneer Resources Ltd. and further to the company's news release of April 11, 2017, has provided an update on the Mavis Lake lithium project in Ontario, Canada.

Drilling at the Mavis Lake lithium project conducted in February, 2017, under the direction of Pioneer (the company's strategic partner) resulted in several key intersections at the Pegmatite 6 target area.

Key intersections from the Pegmatite 6 target area*:

  • 1.47 per cent lithium oxide (Li2O) over 17.90 metres* from 80.00 metres in drill hole MF17-39;
  • 1.70 per cent Li2O over 26.30 metres from 111.9 metres in drill hole MF17-49, including a zone grading 2.97 per cent Li2O over 7.70 metres;
  • 1.45 per cent Li2O over 16.55 metres from 74.55 metres and 1.40 per cent Li2O over 23.10 metres from 122.00 metres in drill hole MF17-50.

* All widths reported are drill core widths and have not been converted into true widths.

Pegmatite 6 target area

As previously reported, four holes were drilled during the campaign to follow up on mineralization encountered in previous drill holes MF-11-12 and MF-12-24 (see the company's news releases dated Jan. 12, 2012, and Feb. 19, 2013). Each of the new drill holes intersected spodumene-bearing pegmatites of varied thickness (see attached table).

Drill holes MF17-49 and MF17-50 intersected zones of mineralized pegmatite at deeper depths than previously encountered and represent a new discovery at the Mavis project. Hole MF17-49 returned 1.70 per cent Li2O over 26.30 metres from 111.9 metres, including 2.97 per cent Li2O over 7.70 metres with one sample grading 4.20 per cent Li2O over 1.15 metres.

To date, the drilling in the Pegmatite 6 target area has drill tested a horizontal strike length of 60 metres and down dip to a maximum depth of 145 metres below surface.

        SELECTED ASSAY RESULTS 
   FROM THE PEGMATITE 6 TARGET AREA

Hole         From     To   Width*   Li2O
               (m)    (m)     (m)   (Wt%)

MF17-39     80.00  97.90   17.90    1.47
MF17-40     80.05  92.90   12.85    1.16
MF17-49     49.05  53.20    4.15    2.50
And         78.05  87.30    9.25    1.34
And        111.90 138.20   26.30    1.70
Including  122.95 138.20   15.25    2.05
Including  130.50 138.20    7.70    2.97
MF17-50     46.45  52.55    6.10    2.15
And         74.55  91.10   16.55    1.45
Including   75.55  80.90    5.35    2.33
And        122.00 145.10   23.10    1.36

* All widths reported are core widths 
and have not been converted to 
true widths.

The companies now report that a crew will be dispatched to follow up on and ascertain adequate locations for the next round of drilling to occur at the Pegmatite 6 target area.

"The new deeper discoveries at the Pegmatite 6 area is cause for our joint venture partner, Pioneer Resources, to investigate the prospectivity of this target in more detail in upcoming drilling campaigns," stated Kirill Klip, executive chairman of International Lithium. "To build on the successful discoveries here at Mavis Lake will add significantly to our concept of the Upper Canada lithium pool. Our strategy to utilize strategic partnerships to advance projects with the ultimate goal to secure lithium supply for the ongoing electrification of our transportation and energy storage applications is proving to be successful."

Afzaal Pirzada, PGeo, a qualified person for the purposes of Canadian Securities Administrators' National Instrument 43-101, Standards of Disclosure for Mineral Projects, and consultant to the company, has reviewed and approved the scientific and technical information contained in this news release.

We seek Safe Harbor.

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