Lithium Corporation Receives Salt Wells Drill Permit Approval
Lithium Corporation (OTCBB: LTUM) (the 'Company', or 'Lithco?) is
pleased to announce that it has recently received approval from the
Bureau of Land Management for its permit application to drill on its
Salt Wells Lithium property.
The Company recently reported that it had discovered lithium enriched
brine mineralization in the immediate subsurface on its Salt Wells
prospect of up to 38 mg/L. This lithium anomaly occurs in an area of
limited sampling density that is about one and a half miles long & up to
three quarters of a mile wide. Although the levels of lithium in the
brine should be characterized as only moderately anomalous, the company
believes that it may be indicative of a lithium brine reservoir at depth.
The Eightmile Flat portion of the Salt Wells basin where the prospect is
located is large, and possibly deep, so it is anticipated that more work
at intermediate depths is necessary before committing the resources to a
deep drilling program. To that end a number of holes will be drilled in
the upcoming drill program to depths of 150 to 300 feet subsurface in an
effort to acquire information that will aid delineation of the areas
containing the best lithium-in-brine mineralization.
The Company intends to begin drilling as soon as practical this spring.
Weather patterns have been quite unusual across the continental US over
the past several months. Portions of Nevada received above normal
precipitation since late October of last year. One of the Company′s
concerns has been when to mobilize drill equipment to its sites that
occur in closed basins, which collect and hold all the precipitation
that runs off from the surrounding mountains. The combination of large
volumes of water and the very fine sediments in the basins can create
conditions in which it is both inadvisable to work in, unsafe, and would
cause considerable surface disturbance, which is not allowed under the
provisions of the BLM permits.
The Company continues to explore, and our personnel are considering
options for collecting increasingly deeper brine samples from the two
playas (Salt Wells and Fish Lake Valley) which are traversable on foot
at this time.
For further information please contact Lithium Corporation at (888)
299-3989 or via email at info@lithiumcorporation.com.
About Lithium Corporation
Lithium Corporation is an exploration company based in Nevada devoted to
the exploration for new lithium resources within the state of Nevada.
The Company explores and develops potentially economic lithium-enriched
brine fields, with an eye to becoming a long-term producer of this
increasingly strategic and economically important commodity.
Notice Regarding Forward-Looking Statements
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.
Lithium Corporation
Tom Lewis, 888-299-3989
info@lithiumcorporation.com