Vancouver, B.C., 21 July 2016, International Lithium Corp. (the “Company” or “ILC”) (TSX VENTURE:ILC.V) is pleased to announce results from the recent drill program at the Avalonia Lithium Project, Ireland.
- Most notable pegmatite intersection grading 2.33% Li2O over 4.62m at southern extent of Aclare pegmatite;
- Aclare pegmatite high-grade mineralization open along trend to the southwest and at depth;
- Improved understanding of mineral zonation to assist future targeting; and
- Plans to extend drill pattern at Aclare and initiate exploration in the vicinity of a high-grade spodumene boulder field at Moylisha in preparation for drilling.
Aclare Prospect Drill Results
The company recently completed a twenty three (23) hole diamond drilling program, totalling 1,756 metres, on several targets at the Aclare prospect at the Avalonia Lithium Project, Ireland (refer to Company news release dated June 9, 2016). The drill program continued delineation drilling of the main Aclare pegmatite located 85 kilometres southwest of Dublin, Ireland. In addition, the program tested the Aclare C spodumene pegmatite boulder train target east of the main prospect and a previously untested pegmatite 400m southeast of the main Aclare pegmatite.
The following results are from the delineation drilling part of the program. Particularly encouraging results (ACL16-22) are from the southern extent of the drilling and show that mineralization is open to the southwest with significant widths and grades. Holes ACL16-15 and 22 determined that an area previously mapped as a fault controlled break in the pegmatite is in fact a bend in the mineralized zone revealing that the pegmatite is continuous and forms several closely spaced parallel bodies in this area.
Table of significant lithium values from the 2016 Avalonia drilling programme
|Hole_ID||From (m)||To (m)||Length* (m)||Li2O%|
* All widths reported are drill core widths and have not been converted into true width.
The area drill tested by the Company represents a small portion of the main prospects located along the 42 kilometre lithium pegmatite belt that falls within the Avalonia licences. A total of 23 targets have been identified to date by geochemical surveys and prospecting along the belt.
Additional work is planned for later this summer including extending the drilling pattern at Aclare to follow up on the recent results. At the Moylisha target area, where extensive boulder trains of spodumene bearing pegmatite assaying up to 4.59% Li2O** have yet to be traced back to source, a detailed soil survey will be implemented and permitting is underway for trenching to further develop drill targets.
Gary Schellenberg, CEO, International Lithium Corp. comments, “The recent drill program has demonstrated our ability to successfully target lithium pegmatites. In addition, our enhanced understanding of the mineral zonation will assist us in targeting not only the Aclare and Moylisha prospects this year, but the entire belt.”
** Previously reported grab sample in Company news release dated January 31, 2012. Grab samples are by definition selective and are unlikely to represent average grades on the property.
John Harrop, P.Geo, FGS, is the Company’s Qualified Person as defined under NI 43-101 who has supervised the preparation 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, a joint venture with Ganfeng Lithium Co. Ltd. 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 three rare metals pegmatite properties in Canada known as the Mavis, Raleigh, and Forgan projects; and one project in Ireland (Avalonia project) that encompasses an extensive 50km long pegmatite belt. The Avalonia project is under option to strategic partner Ganfeng Lithium and the Mavis and Raleigh projects with strategic partner Pioneer Resources Limited (PIO:ASX). The Mavis, Raleigh and Forgan projects together form the basis of the Company’s newly created Upper Canada Lithium Pool designated to focus on acquiring numerous prospects with previously reported high concentrations of lithium in close proximity to existing infrastructure.
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”, sustainable 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 resource explorer of choice for investors in green tech 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.