Vancouver, B.C. February 17, 2015: International Lithium Corp. (the “Company” or “ILC”) (TSX VENTURE:ILC.V) is pleased to report that the Company in conjunction with their strategic partner, GFL International Co., Ltd, (“Ganfeng Lithium”) a fully owned subsidiary of Ganfeng Lithium Co. Ltd., have approved budgets for continued work on the Avalonia lithium pegmatite project in Ireland and the Mariana lithium brine project in Argentina.
From September to December 2014, ILC conducted regional and prospect scale geochemical sampling along the thirty kilometre length of the Leinster pegmatite belt and mapped the distribution of pegmatite boulders between historical prospects. The exploration goal was to extend known mineralized zones and identify new prospects in areas with less historical exploration.
Soil sampling continued in January 2015. A small crew collected soil samples for two weeks to extend the new areas with high lithium geochemical anomalies and investigated newly discovered outcrops and boulder fields containing spodumene bearing pegmatites.
The exploration at Avalonia continues to reveal more promising indications of an extensive series of buried lithium-rich pegmatites. The next stage, currently being planned, will entail a drill program focussing on the most prospective targets identified.
For more information on the Avalonia project please visit our website at: https://www.internationallithium.com/s/ireland.asp
The Company has recently completed detailed preparations in conjunction with strategic partner, Ganfeng Lithium, including having a crew visit Argentina and participate in the installation of weather data collection equipment. The effort has resulted in the approval to collect a bulk sample of the Mariana brine for analysis by Ganfeng Lithium at their research facilities in China. In addition, the work will involve a maiden drilling and pump test campaign to characterize and quantify the resource potential and specific yield of the salar.
Mr. Kirill Klip, President, International Lithium Corp. comments, “We are very excited with the ability to continue to advance our projects to the next level through our partnership with Ganfeng Lithium. Recent announcements, by General Motors regarding the commencement of production of the battery-electric Bolt and Tesla with the ongoing construction of the Gigafactory and launch of the Model X, are strong indicators that the electric car is not only here to stay, but is the way of the future. As a result lithium will be a key ingredient in our daily lives and ILC will be ready to meet the demand for this raw and critical material.”
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.
For more information on the Mariana project please visit our website at:https://www.internationallithium.com/s/marianalithium_argentina.asp
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 GFL International, a fully owned subsidiary of 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 and Ireland. 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.