Amended: International Lithium Corp. Reports High Grade Lithium from Mavis Lake, Ontario
03.04.2013 | The Newswire
Vancouver B.C. April 3, 2013: InternationalLithium Corp. ("ILC" or the "Company") (ILC: TSX-V) is pleased to announce lithium and associated rare metal assay results from the remaining eight drill holes of the recent 19 hole (2,075 metre) diamond drill program on the lithium and rare metals pegmatite field spanning the contiguous Fairservice and Mavis Lake claim blocks near Dryden, Ontario.Key Highlights
1.34% Li2O over 8.50m intersected in MF-12-33
1.05% Li2O over 10.85m intersected in MF-12-34
1.06% Li2O over 10.75m intersected in MF-12-36
Recent Drill Program
The objective of the 2012 drill program carried out at the Fairservice/Mavis Lake project during November and December was to test the subsurface continuity of significant pegmatite intersections along strike and down dip. Extensive structural, geological, geochemical and geophysical interpretations of both new and historical data were utilized to co-ordinate drilling and better understand the orientation and distribution of pegmatite bodies in the area.
The following table reports highlights from the final eight holes of the 2012 program.
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|Hole No.|From (m)|To (m)|Length*|Li2O %|
|---------------------------------------|
|MF-12-31|34.25 |39.00 |4.75 |0.53 |
|---------------------------------------|
|MF-12-33|22.00 |30.50 |8.50 |1.34 |
|---------------------------------------|
|MF-12-34|22.45 |33.30 |10.85 |1.05 |
|---------------------------------------|
|MF-12-35|32.90 |35.20 |2.30 |0.64 |
|---------------------------------------|
|MF-12-36|27.75 |38.50 |10.75 |1.06 |
|---------------------------------------|
|MF-12-37|23.70 |27.85 |4.15 |0.51 |
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* All widths reported are drill core widths and have not been converted into true width.
The following table includes intervals of significant Tantalum values from MF-12-31 through MF-12-38:
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|Hole |From (m)|To (m)|Length(m)*|Ta (ppm)|Ta2O5%|
|---------------------------------------------------|
|MF-12-34|22.45 |33.30 |10.85 |108 |0.013 |
|---------------------------------------------------|
|MF-12-35|32.90 |35.20 |2.30 |152 |0.019 |
|---------------------------------------------------|
|MF-12-37|23.70 |27.85 |4.15 |171 |0.021 |
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* All widths reported are drill core widths and have not been converted into true width.
Diamond drill holes were oriented perpendicular to the surface trace of the Central Band of pegmatite. The Central Band has a number of lithium-bearing outcrops that were the focus of historical drill programs and currently forms the primary target for the Company's recent drilling. It is now evident that the Central Band of pegmatites has a thick, shallow dipping, spodumene-bearing core zone centred on pegmatite #4.
Laboratory work was conducted by Activation Laboratories Ltd of Ancaster, Ontario with the samples being submitted by Company staff to their Dryden prep facilities. Activation Laboratories is an accredited laboratory with ISO 17025:2005 and CAN-P-1579 certification. Analysis was conducted using a sodium peroxide fusion followed by ICP-MS. The Company uses industry recognized practices to ensure quality control. To support this, a number of large samples were collected from surface sites known to have significant lithium and tantalum values. Following preliminary analysis a blend of these samples is being used to develop a certified reference material matrix matched to the Companies pegmatite projects. The new reference material has been inserted into the sample stream at the Property and will be utilized on other Company projects.
The Mavis - Fairservice Property Area
The property is located 15 km Northeast of Dryden, Ontario and is easily accessed via the Trans-Canada Highway and a series of logging roads. The claim blocks comprise a total of 2,624 hectares and straddle a continuous pegmatite field exhibiting high-grade, well-evolved, lithium and tantalum zonation as well as significant levels of cesium and rubidium. Regional pegmatite mineralization is directly associated with the strongly peraluminous Ghost Lake Pluton and related pegmatitic granite dykes. Rare metal mineralization in the Mavis Lake area occurs in zoned pegmatites hosted by mafic metavolcanic rocks. Rare metal mineralization occurs in four zones: internal beryl zone within the parent of the Ghost Lake pluton that evolves to the east within the Fairservice and Mavis Lake claim blocks into external zones of beryl-columbite, spodumene-beryl-tantalite and albite-type pegmatites.
John Harrop, P.Geo, FGS, is the company's qualified person on the project as required 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 Jiangxi Ganfeng Lithium Co. Ltd., a leading China based lithium product manufacturer.
The Company's primary focus is the Mariana lithium-potash brine project in Argentina within the renowned South American 'Lithium Belt' that is host to the vast majority of global lithium resources, reserves and production. The 160 square kilometre Mariana project strategically encompasses an entire mineral rich evaporite basin that ranks as one of the more prospective salars, or 'salt lakes' in the region.
Complementing the Company's lithium brine projects are rare metals pegmatite properties in Canada and Ireland that have revealed through recent highly positive results a clear potential that the Company will advance with the support of its strategic partner, Ganfeng Lithium. These projects can add distinct value as the Company strives to source rare metals to help meet the increasing demand through the growth in global technologies that utilize the rare metals suite of elements.
With the increasing demand of high tech applications in battery and vehicle propulsion technologies, lithium and other rare metals are no doubt the metals of tomorrow's green tech economy. By positioning itself with solid development partners and projects with significant resource potential, ILC aims to be the green tech resource developer of choice for investors and build value for its shareholders.
International Lithium Corp.'s mission is to find, explore and develop projects that have the potential to become world-class lithium, potash and rare metal deposits.
On behalf of the Board of Directors,
Kirill Klip
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.