Vancouver, B.C. 16 June 2016, International Lithium Corp. (the “Company” or “ILC”) (TSX VENTURE:ILC.V) is pleased to announce that together with strategic partner Ganfeng Lithium Co. Ltd., (“GFL”):
- Recent drilling has discovered a potentially important, third aquifer deeper in the salar at the Mariana Lithium Brine project in Salta, Argentina.
- Initial bench scale evaporation tests are completed pending final report.
The current drill program, announced on May 11, 2016, is delineating the two previously identified shallow lithium brine aquifers (Company news releases June 1 and August 11, 2015) at the Mariana project (Salar de Llullaillaco) located near the Chilean border in Salta, Argentina. Recently acquired transient electromagnetic (TEM) geophysical data suggested that the two aquifers appear to be connected (news release dated May 11, 2016). This is now supported by drilling and follow-up down-hole geophysical surveys.
The TEM survey also suggested that there is a third aquifer, represented by a highly conductive zone at greater depths (news release May 11, 2016), below the maximum depth of any previous drilling on the salar. The three drill holes completed to date during this campaign (MA16-11, 12 and 13) have penetrated this zone at depths greater than 170 metres. The maximum drilling depth is now 202 metres below surface. The new, lower aquifer begins at a depth of approximately 162 metres, extends to the ends of the holes at 200 metres and remains open at depth.
The three drill holes reported here form a triangle centred in what gravimetric and seismic geophysical surveys have indicated is the deepest part of the basin. MA16-12 is located in the north-central portion of the salar with MA16-11 approximately 2000 metres to the northwest and MA16-13 2000 metres to northeast.
Sampling is being conducted by several methods including packer tests, drive point tests and bailers dependant on the nature of the stratigraphic formations. Brine samples have been submitted to Alex Stewart and results are pending.
The drilling programme is ongoing.
Evaporation Process Path Studies
Bench scale evaporation tests on raw and treated brine have been successfully completed by Door to Design Inc, at Universidad Técnica de Oruro (“UTO”) in Bolivia (Company news release January 19, 2016). The Company is expecting a final report imminently. The preliminary results reported to the Company are that treatment of raw brine from the shallow aquifers with lime (calcium hydroxide) results in the precipitation of sulphate and magnesium leaving a brine composition that is significantly more amenable to solar evaporation to higher lithium concentrations. Further tests are commencing to determine the optimal time at which to add lime in the natural solar evaporation process and thereby minimize reagent use. These results help design field evaporation tests scheduled to commence on site later this year.
Mr Kirill Klip, President, International Lithium Corp. comments, “The recent exploration results show that Mariana is exhibiting the potential to be a significant source of lithium brine. The joint venture project, together with Ganfeng Lithium will strive to acquire the necessary data to rapidly advance the project to a pilot plant testing facility. We are currently experiencing recognition in the capital markets as to the importance of lithium supply and Argentina comes to the forefront of jurisdictions that have the ability to develop a secure supply of lithium raw materials for electric vehicles and the increasing energy storage markets.”
John Harrop, P.Geo, FGS, is a Qualified Person as defined under NI 43-101 and has supervised preparation of 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, a joint venture with Ganfeng Lithium Co. Ltd. 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 three rare metals pegmatite properties in Canada known as the Mavis, Raleigh, and Forgan projects and one in Ireland (Avalonia project). The Avalonia project is under option to strategic partner Ganfeng Lithium and the Mavis project with strategic partner Pioneer Resources Limited (PIO:ASX). The Mavis, Raleigh and Forgan projects together form the basis of the Company’s newly created Upper Canada Lithium Pool designated to focus on acquiring numerous prospects with previously reported high concentrations of lithium in close proximity to existing infrastructure.
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”, sustainable 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 resource explorer of choice for investors in green tech and build value for its shareholders.
On behalf of the Board of Directors,
President, International Lithium Corp.
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.