Vancouver, B.C. April 11 2016, International Lithium Corp. (the “Company” or “ILC”) (TSX VENTURE:ILC.V) (Frankfurt Exchange: IAH) is pleased to announce that on April 4, 2016 the Company initiated a 1750 metre diamond drill hole program at the Avalonia Lithium Project located in Counties Carlow and Wicklow, Republic of Ireland.
The current drill program will consist of approximately 25 shallow drill holes and will focus on expanding the strike length of the Aclare lithium bearing pegmatite using the results of recent geophysics to follow the trend of the granite-schist contact. Historical drilling, confirmed by ILC drilling in 2013, indicates that the lithium bearing pegmatite is at or near this contact. Extensions to the pegmatites will be tested to the north and south of historical work using the geophysical trace of this contact. In addition, the drill program will test up to three additional blind targets with no previous drilling.
Numerous surface occurrences of spodumene bearing pegmatite have been confirmed over a 30 kilometre strike length of a prospective contact zone within the Leinster Pegmatite Belt. Exploration efforts are hindered by a lack of outcrop and abundant soil cover. Initial drilling campaigns designed to test soil geochemical survey targets successfully intersected spodumene bearing pegmatites confirming the source of anomalous soil geochemical signatures (news release dated 11 August, 2015). In an effort to more efficiently target these horizons, the Company conducted magnetic susceptibility studies on drill core recovered from the prospects (news release dated 8 December, 2015) and discovered that the schistose host rocks have magnetic susceptibilities an order of magnitude higher than the granites or pegmatites. In January 2016 the Company completed a series of ground magnetometer surveys, designed to highlight the contact zone between the metamorphosed country rocks and the lesser magnetic pegmatites, over 6 key target areas. As a result of the recently interpreted magnetic data sets in conjunction with soil geochemical survey results the Company will also test regional, previously untested targets during this stage of the program that includes the “blind” Ballymurphy, Aclare D and Aclare C targets which are based on integrated geological, geochemical and geophysical results.
Mr. Kirill Klip, President, International Lithium Corp. comments, “The Avalonia project joint venture, fully funded by strategic partner Ganfeng Lithium Co. Ltd., (“GFL”), could be of strategic importance to the European Union should a sufficient resource be identified. Clean fuel technologies for motor vehicles are becoming increasingly important to the European Economic Community to tackle climate change and the air pollution crisis in major urban areas. Lithium technology will play a major role when it comes to providing batteries for communication devices, electric vehicles and utility storage systems. Renewable sources of energy such as solar and wind power will also benefit from lithium battery technologies and become more commonplace as the problem of intermittency will be addressed providing steady power from these sources 24/7.”
John Harrop, P.Geo, FGS, is the Company’s Qualified Person on the project as defined 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 Ganfeng Lithium Co. Ltd., a leading China based lithium product manufacturer.
The Company’s primary focus is the Mariana lithium-potash brine project, 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 rare metals pegmatite properties in Canada (Mavis and Raleigh projects) and Ireland (Avalonia project). These projects reported highly encouraging lithium mineralization in drill holes targeting pegmatites that are unexposed at surface (news releases dated April 3, 2013, June 25, 2013 and March 23, 2016).
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” 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 green tech resource explorer of choice for investors 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.