Vancouver, B.C. August 12, 2016 International Lithium Corp. (the “Company” or “ILC”) (TSX Venture:ILC.V) is pleased to announce that following a successful first round of drilling at the Avalonia project in Ireland earlier this year (Company news releases dated July 21, June 9 and April 11, 2016), the Company has mobilized two drills for a follow-up round of drilling at the Aclare prospect within the greater Avalonia project area. In conjunction, field crews have commenced detailed geochemical surveys on additional priority areas in preparation for drilling.
Aclare Drill Programme
Drilling completed earlier this year (Company news releases dated July 21, and June 9) has indicated that the main lithium bearing pegmatite at Aclare is less faulted than previously interpreted and exhibits inflections along the strike suggesting areas where the pegmatite thickens. Two drills have been mobilized to the property with the first hole collared on 8 August. A 500 metre drill programme will investigate the shape of the main pegmatite body and a series of short drill holes are planned to test the continuation of the Aclare pegmatite along trend. Drilling is anticipated to take approximately three weeks.
Soil gas hydrocarbon (SGH) soil surveys are planned over three targets including Aclare where the positions of pegmatite targets are well known through drilling and historical trenching. The SGH method has previously been used by other companies to detect lithium pegmatites through soil cover. One of the other target areas selected to perform this survey is at the Moylisha prospect situated approximately 10 kms northeast of Aclare.
In addition to the SGH survey, the Company is awaiting permits to commence trenching at Moylisha. The Moylisha target area contains extensive boulder trains of spodumene bearing pegmatite assaying up to 4.59% Li2O* that have yet to be traced back to source. The combined objective of the planned exploration surveys at Moylisha is to identify the geology hidden under soil cover and to specifically locate the pegmatite source of the lithium rich boulders. The results from this exploration program at Moylisha will be utilized in planning the next phase of drilling.
* 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.
Gary Schellenberg, CEO, International Lithium Corp. comments, “Each day we advance our understanding of the 42 km long Avalonia lithium pegmatite belt, we continue to be highly encouraged as the exploration potential is wholly reinforced. Even as we commence this stage of drilling at Aclare, we are preparing the next priority targets for drilling as we systematically test the known multitude of targets”.
John Harrop, P.Geo, FGS, a Qualified Person on the project as defined under NI 43-101 and has supervised the preparation of 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.