Vancouver B.C.: International Lithium Corp. (“ILC” or the “Company”) is pleased to announce a reverse circulation drill rig has been mobilized to site for the forthcoming drill program commencing in early January at the Mariana lithium brine project in the province of Salta, northwestern Argentina.
Key Highlights:
- Drill and equipment have been mobilized to Mariana salar;
- Phase 1 resource delineation drill program commencing in January;
- Objective is to characterize the subsurface brine across different regions within the salar;
- Extensive Phase 2 drill program planned for next year.
Due to required repairs to the drill equipment, wholly out of the Company’s control, the drill program was not able to commence and be completed prior to the Christmas break. In order to perform a cohesive and efficient work program, the decision was made to commence the drill program in early January. In preparation for a timely start-up, the drill and equipment have been mobilized to site.
Mariana Drill Program
The Company will commence a 3-5 hole Phase 1 drill program on the Mariana lithium brine property in Argentina in early January. The goals include a) geochemical characterization of the subsurface brine across different regions within the basin, b) identification of the stratigraphy for a geological model of the salar, and c) identification and characterization of the aquifer potential of the basement of the salar. The Company’s intent is to utilize this drill program as a first step towards a resource classification of the brine. A more extensive drill program is planned for next year that will focus on the priority areas of the salar identified through the current program. The objective of the subsequent Phase 2 drill program will be to continue to delineate, characterize and add to the confidence level of the geochemistry of the host aquifer; with an Inferred Resource estimate targeted for late 2012.
About the Mariana Project
The Mariana lithium brine project in Argentina, covering an expansive 160 square kilometres, revealed highly compelling geochemistry from a preliminary investigation that returned average grades of 440 mg/L lithium and 12,700 mg/L potassium. The potassium levels were unexpected and represent one of the highest grades comparative to any of the neighbouring salars outside of the world class operation on the Atacama salar in Chile.
John Harrop, P.Geo, is the company’s Qualified Person on the project as required under NI 43-101 and has reviewed the technical information contained in this press release.
ABOUT INTERNATIONAL LITHIUM CORP
International Lithium Corp. is an international rare element metals (“REM”) exploration company with an outstanding portfolio of projects, strong management ownership, robust financial support and a strategic partner, Jiangxi Ganfeng Lithium Co. Ltd., a leading China based lithium product manufacturer, as a keystone investor.
ILC currently has 9 active REM projects, well balanced between lithium brines in Argentina and Nevada and hard-rock pegmatites in Canada and Ireland. The Company’s primary focus is the Mariana lithium brine project, a salar or ‘salt lake’, covering 160 square kilometres and strategically encompassing the entire basin. Mariana is located in the renowned South American ‘Lithium Belt’ centred on the junction of Argentina, Bolivia and Chile that is host to the vast majority of global lithium resources, reserves and production. The Mariana lithium brine project ranks as one of the more prospective salars in the region.
Complementing the Company’s lithium brine projects are the REM pegmatite properties. The key characteristics shared by the hard-rock REM projects are their limited past exploration, excellent accessibility, limited assaying for rare metals, clear potential for additional exploration to add project value and development potential to meet the global technological growth in demand for the REM suite of elements.
International Lithium Corp.’s mandate is to increase shareholder value through aggressive advancement of its core projects and to source joint venture partners to expand the scope and diversify risk of its exploration effort.
On behalf of the Board,
Mike Sieb
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.