Lithium Corporation Receives San Emidio Drill Permit Approval
04.03.2014 | FSCwire
Las Vegas, Nevada US, March 03, 2014 /FSC/ - Lithium Corp. (LTUM - OTCQB), (the "Company", or "Lithco") is pleased to announce that it has recently received approval from the Bureau of Land Management for its application to amend its permit on its San Emidio Lithium property. The Company intends to drill up to three deeper lithium brine tests in an area on the San Emidio playa where lithium enriched brines have been encountered at shallower depths. Drilling will occur in the area of a lithium-in-brine anomaly outlined by two drilling programs in 2012. This anomaly is approximately 3 miles (5 kilometers) long, and 0.6 miles (1 kilometer) wide at its widest point. The peak value seen within the anomaly is 23.7 mg/l lithium, which is 10 to 20 times background levels seen outside the anomaly. The Company believes that the playa at San Emidio may be conducive to the formation of a "Silver Peak" style lithium brine deposit. Past drilling may indicate that the anomaly occurs at or near the intersection of several faults that may have created the structural setting necessary for the formation of a lithium-in-brine deposit at depth.
The Company is currently negotiating with drilling contractors, and ground conditions permitting, the Company intends to begin drilling this prospect in the second quarter 2014. Lithium Corp. is looking forward to 2012, and has plans to further explore its Fish Lake Valley, and BC Sugar prospects as well as continuing with its generative exploration program.
For further information please contact Andy Dewey at Lithium Corp. at (775) 410-2206 or via email at info@lithiumcorporation.com
About Lithium Corporation
Lithium Corp. is an exploration company based in Nevada devoted to the exploration for new lithium resources within the state of Nevada, and graphite in British Columbia. The Company currently explores with an eye to develop potentially economic lithium-enriched brine fields, or flake graphite deposits intending to capitalize on opportunities within the ever expanding Lithium-Ion battery market. Lithium Corp. maintains a strategic alliance with Altura Mining, an ASX listed coal producer who expects to begin producing Iron Ore from the Mt Webber property in Western Australia. Additionally Altura is currently searching for off-take contracts for its 100% owned world-class Pilgangoora lithium pegmatite property in Western Australia.
[b]Notice Regarding Forward-Looking Statements[/b]
This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, any mineralization, exploration and development of our mineral properties, specifically in regards to any future drilling programs.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of minerals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.