International Lithium Corp. Provides Operational Update; Names Anthony Kovacs as Chief Operations Officer
January 16, 2013 at 05:47 pm EST
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International Lithium Corp. provided an update of the company's operational activities in 2012. Key Highlights: Plans to drill and bulk sample at Mariana, Argentina which hosts Lithium-Boron and some of the highest Potash Grades in an Argentine salar; Successful year-end drill program at Mavis Lake Ont; Drill Program planned for Blackstairs, Ireland - funded by partner Ganfeng Lithium. Mariana Project, Salta, Argentina: combination of sediment and brine sampling drilling is planned to occur early in 2013 on the Company's wholly owned lithium-potassium brine project in Argentina. The drilling will provide a better understanding of the resource potential of the entire salar. GEOS Mining, an Australian geological consultancy with experience in brine resource estimation, has been retained to assist in planning the project and carry out the necessary studies to support a resource estimation if warranted at this stage. The company will also collect bulk samples of the brine to be used for more advanced process and recovery testing by Ganfeng Lithium. The implementation of a program to install test evaporation ponds and a pilot plant is also being considered in addition to hydrogeological, climatic and geophysical studies. Mavis Lake Project, Ontario: ILC is completing a drill program on the Lithium and Rare Metals project at Mavis Lake near Dryden, Ontario. Naicatchewenin Development Corporation, a 100% aboriginal owned corporation, was contracted to provide diamond drilling services for a minimum 2,000 metre program. Two drills were used on the project during the year-end campaign. Drilling focused on extending significant pegmatite bodies discovered in the 2011 drilling campaign which returned 1.86% Li2O over 26.25m and 1.22% Li2O over 28.45m. These two intersections appear to indicate a previously unknown pegmatite body that is wider than previously drilled pegmatites and may be oriented in a different direction. In addition, drilling continued to extend and infill between previously drilled pegmatites and to test historical lithogeochemical anomalies. Blackstairs Project, Ireland: The Company's 100% owned Blackstairs project in Ireland was optioned to Ganfeng Lithium late in 2012. Ganfeng has the option to fund up to ten million dollars worth of exploration on the project over the next ten years to earn an approximate 75% interest in the project.
The Company further expanded their management team by naming Mr. Anthony Kovacs as Chief Operations Officer. Mr. Kovacs has over 18 years international experience in mineral exploration and development. Before joining International Lithium Corp. he worked in senior leadership roles with Pacific North West Capital Corp. and Adriana Resources Inc.
International Lithium Corp. is a lithium and rare metals company. The Company is in the process of exploring and investing in mineral properties located in Canada and Ireland. The Company has interest in various projects, such as Raleigh Lake, Wolf Ridge, Avalonia, and Forgan Lake and Lucky Lake. The Raleigh Lake Project is wholly owned by the Company and consists of a total of 48,500 hectares (485 square kilometers) of mineral claims in the Kenora Mining District of Ontario, Canada. The Forgan Lake and property consists of certain claims located in the Thunder Bay Mining District in Northwestern Ontario, Canada. The Wolf Ridge property is comprised of approximately 5,700 hectares located in Ontario. The Avalonia Lithium Project is comprised of certain licenses in the Carlow and Wicklow counties, Ireland. The Company retains a 1.5% NSR on the Forgan Lake and Lucky Lake projects. The Companyâs subsidiaries include International Lithium UK Ltd. and International Lithium Canada Ltd.