VANCOUVER B.C., Dec. 6, 2012 (GLOBE NEWSWIRE) --
International Lithium Corp.
("ILC" or the "Company") (
ILC:TSX-V) is pleased to announce that the Company has
initiated permitting and preparations for
drilling and bulk sampling brine for
metallurgical testing on their
wholly owned Mariana Potash-Lithium project in Argentina.
A combination of sonic and reverse circulation drilling is planned to occur
in the first half of 2013 to develop an understanding of the resource potential
for the entire salar, but focusing on the potash and lithium concentrations and
distribution in the central one-third of the salar. GEOS Mining, an Australian
geological consultancy with experience in brine resource estimation, has been
retained to assist in planning the project and carry out the necessary studies
to support a resource estimation if warranted at this stage.
The Company will also collect bulk samples of the brine to be used for more
advanced process and recovery testing. The implementation of a program to
install test evaporation ponds and a pilot plant is being considered for this
stage in addition to hydrogeological, climatic and geophysical studies.
"It is important to our strategic partner that we gain an early understanding
of the variations in the unique chemical composition of our source material. We
will be working closely with their technical teams to evaluate process
methodology and determine final lithium and potassium products that can be
produced from the Mariana brines." commented Kirill Klip, President of
International Lithium Corp., "By conducting these studies prior to a detailed
resource evaluation, we can better direct our efforts to determine the economic
viability of the project."
About the
Mariana Project
For maps please see
http://internationallithium.com/s/marianalithium_argentina.asp
The Mariana potash-lithium brine project at Salar de Llullaillaco in
Salta,
Argentina, consists of several
contiguous mining claims that cover an expansive
160 square kilometres. The claims strategically
encompass the entire salar and a
significant portion of the surrounding area (to provide site facilities for a
processing plant if the project proves to be economically viable). The claims
are 100% wholly optioned by the Company.
Salars, or salt lakes, host some of the largest known lithium resources in
the world and the Mariana basin is one of the more prominent salars in the
renowned lithium belt of South America, currently accounting for more than 70%
of global lithium production.
Initial surface brine sampling revealed highly compelling geochemistry
reporting average grades of 440 milligrams per litre ("mg/L") lithium and 12,700
mg/L potassium. The
potassium levels were unexpected and represent some of the
highest grades comparative to any of the neighbouring salars outside of the
world class operation on the Atacama salar in Chile.
International Lithium Corp. previously drilled four widely spaced reverse
circulation drill holes (totalling 444 metres and positioned approximately 5
kilometers apart) to characterize the subsurface strata and brine within the 10
x 15 kilometer salar (salt lake). Results indicate homogeneous geochemical
concentrations to the maximum depth of the holes (approximately 100 metres).
The upper stratigraphic interval is primarily halite varying in depth from 18
to 32 metres in the peripheral areas and 66 metres deep proximal to the center
of the salar. Below this predominantly halite layer an extensive mixed
evaporite layer approximately 32-52 metres thick, consisting of greater than 60%
fine to coarse sand, was encountered in the three peripheral holes. Below the
evaporite sequences in all holes, an extensive medium to coarse grained, dark
coloured, basaltic sand interval was encountered. Brine flow measurements
recorded during drilling increased markedly below the halite sequence throughout
the sand rich layers.
Unconsolidated stratigraphic units with a significant granular or sand
component possess physical characteristics that allow them to maintain a higher
degree of permeability and porosity at greater depths than halite (salt) units.
Consequently, they represent a potential aquifer for hosting brine at depth and
are an important target in the lithium-potash brine exploration model. The
measured brine densities, ranging from 1,190 to 1,298 grams per litre ("g/L"),
reflect a considerable quantity of dissolved salts, approximately 10 times the
salinity of seawater.
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.
About
Jiangxi Ganfeng Lithium Co. Ltd.
Ganfeng Lithium, based in Xinyu,
Jiangxi Province, China, is a
professional
producer of lithium products which has developed a comprehensive product chain,
including lithium metal and alloys, inorganic and organic lithium chemicals,
supplies a wide range of lithium products for primary and secondary lithium
battery market, pharmaceutical and new material industries. Ganfeng Lithium's
principal market is in China with international exports to Europe, Japan, the
USA and India. Ganfeng Lithium was founded in 2000 and listed on the Shenzhen
Stock Exchange in August 2010, notably as the first publicly listed lithium
company in China and has experienced rapid continuous growth over the last 11
years.
Ganfeng Lithium is a major shareholder and strategic partner to International
Lithium Corp., currently holding approximately 17.5% of the issued and
outstanding shares of ILC.
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 Jiangxi Ganfeng Lithium Co. Ltd., a
leading China based lithium product manufacturer.
The Company's
primary focus is the Mariana lithium-potash brine project in
Argentina within the renowned South American 'Lithium Belt' that is host to the
vast majority of global lithium resources, reserves and production. The 160
square kilometre Mariana project strategically encompasses an entire mineral
rich evaporite basin that ranks as one of the more prospective salars, or 'salt
lakes' in the region.
Complementing the Company's lithium brine projects are
rare metals pegmatite
properties in Canada and Ireland that have revealed through recent highly
positive results a clear potential that the Company will advance with the
support of its strategic partner, Ganfeng Lithium. These projects can add
distinct value as the Company strives to source rare metals to help meet the
increasing demand through the growth in global technologies that utilize the
rare metals suite of elements.
With the increasing demand of high tech applications in battery and vehicle
propulsion technologies, lithium and other rare metals are no doubt the metals
of tomorrow's green tech economy. By positioning itself with solid development
partners and projects with significant resource potential, ILC aims to be the
green tech resource developer of choice for investors and build value for its
shareholders.
International Lithium Corp.'s mission is to find, explore and develop
projects that have the potential to become world-class lithium, potash and rare
metal deposits.
On behalf of the Board of Directors,
Kirill Klip
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.
Contact:Caroline
Klukowski
info@internationallithium.com
Experienced board and management focused on the Lithium sector.
