Vancouver, B.C. 19 January 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”) the 2016 exploration and development work on the Mariana joint venture project has begun.
As previously announced on December 10, 2015 the companies have allocated a budget of approximately US $3,190,000 dedicated to the Mariana Lithium project in Argentina. The first phase of this budget includes conducting bench scale evaporation tests at the Universidad Técnica de Oruro (“UTO”) in Bolivia.
The company has contracted Door To Design, Inc. to oversee the test work conducted at UTO. The goal of the tests is to study the evaporation path of lithium-potassium-boron brine from Salar de Llullaillaco where the Mariana joint venture owns 100% of the mineral rights. Door to Design staff have significant previous experience with similar projects in Argentina and Chile.
Understanding the natural evaporation path and how to effectively control it is paramount in the development of a process to 1) selectively precipitate key potassium and boron ore minerals and 2) remove impurities, leaving a by-product of lithium concentrate brine that can be further processed to produce other lithium products.
Universidad Técnica de Oruro was chosen for these tests because it is located in the Altiplano plateau, which is the Bolivian extension of the Puna in northwestern Argentina where Salar de Llullaillaco is located. Salar de Llullaillaco is approximately 3,800 metres and UTO 3,600 metres above sea level, resulting in the testing laboratory having similar weather and atmospheric conditions to the project area. Similar conditions are important to maximize the predictive ability of the study results. Evaporation bench tests are anticipated to take approximately five months.
Mr. Kirill Klip, President, International Lithium Corp. comments, “We are very pleased to be starting the first stage of our 2016 program with Ganfeng at Salar de Llullaillaco. The results of this work will prepare us for larger scale field tests at the salar.
The newly elected government in Argentina is taking several steps that will improve operating conditions for mining companies. These steps are opening a new chapter in Argentina’s economic development and ILC is very proud to be part of this 21st century international cooperation!”
John Harrop, P.Geo, FGS, is a Qualified Person as defined under NI 43-101 and has prepared and supervised 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 project) 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 and June 25, 2013).
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.