23:47:07 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



International Lithium Corp
Symbol ILC
Shares Issued 92,345,902
Close 2018-01-23 C$ 0.18
Market Cap C$ 16,622,262
Recent Sedar Documents

Int'l Lithium JV starts drilling at Mavis Lake

2018-01-23 12:00 ET - News Release

Mr. Kirill Klip reports

INTERNATIONAL LITHIUM REPORTS DRILLING UNDERWAY AT MAVIS LITHIUM PROJECT, ONTARIO, CANADA

International Lithium Corp.'s joint venture with Pioneer Resources Ltd. has begun drilling at the Mavis Lake lithium project in the province of Ontario, Canada.

Pioneer advises that drilling at Mavis Lake commenced late last week.

The 2018 winter program will comprise up to 1,200 metres of oriented NQ diamond core drilling and will test for extensions to spodumene-bearing pegmatites intersected by the joint venture in the 2017 drilling program targeting the Fairservice (PEG006 or Pegmatite 6) prospect (see International Lithium news release dated Oct. 17, 2017).

Drill core logging and cutting for the first hole, MF18-51, have been completed and all samples have been submitted to the lab for analysis.

Pioneer, as operator of the project, will update International Lithium on the progress of drilling at Mavis Lake as the program advances. Drilling is expected to take up to 30 days to complete.

As reported in the Oct. 17, 2017, news release, each of the four 2017 holes drilled at the Fairservice prospect by the joint venture in 2017 intersected multiple spodumene-bearing pegmatites of significant thickness.*

Key intersections from the Pegmatite 6 target area*: MF17-39: 17.9 metres* at 1.47 per cent lithium oxide from 80 metres; MF17-40: 12.85 metres at 1.16 per cent Li2O from 80.05 metres; MF17-49: 26.3 metres at 1.7 per cent Li2O from 111.9 metres including 7.7 metres at 2.97 per cent Li2O from 130.5 metres; and MF17-50: 16.55 metres at 1.45 per cent Li2O from 74.55 metres and 23.1 metres at 1.4 per cent Li2O from 122 metres.

* All widths reported are drill core widths and have not been converted into true width. True width is currently unknown. Appropriate rounding of Li2O values applied.

"We are very pleased to activate our further exploration program at Mavis Lake with Pioneer Resources, in Ontario, Canada," commented Kirill Klip, executive chairman of International Lithium. "The previous drill program has demonstrated our ability to successfully target lithium pegmatites, especially at the newly expanded Fairservice target area."

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

About the Mavis Lake lithium project

The Mavis Lake project is situated 19 kilometres east of the town of Dryden, Ont. The project is ideally situated in close vicinity to the Trans-Canada highway and railway major transportation arteries linking larger cities such as Thunder Bay, Ont., to the southeast and Winnipeg, Man., to the west.

The current drill program is wholly financed by Pioneer as part of its earn-in on the Mavis Lake project (see company news release dated March 14, 2016).

The Mavis and Raleigh projects are under option to strategic partner Pioneer Resources pursuant to which Pioneer can acquire up to a 51-per-cent interest in the projects.

About International Lithium Corp.

International Lithium has a significant portfolio of projects, strong management, 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 strategic stake in the Mariana lithium-potash brine project located within the renowned South American lithium belt that is the host to the vast majority of global lithium resources, reserves and production. The Mariana project strategically encompasses an entire mineral rich evaporite basin, totalling 160 square kilometres that ranks as one of the more prospective salars or salt lakes in the region. Current ownership of the project is through a joint venture company, Litio Minera Argentina SA, a private company registered in Argentina.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.