International Lithium Corp. and Pioneer Resources Delay Drilling Until Januaryat the Mavis Lithium Pegmatite Project, Ontario, Canada
December 14, 2016 (Source) — International Lithium Corp. (TSX-V: ILC) (OTC PINK: ILHMF) (the “Company” or “ILC”) in conjunction with strategic partner Pioneer Resources Limited (“Pioneer”) (ASX: PIO) announced on December 1, 2016, that equipment had been mobilised for a drill program of up to 1,500 metres of diamond core drilling at the Mavis Lake Lithium Project east of Dryden, Ontario, Canada (“Project”).
The mobilization was impacted by a recent unseasonal rain event that inundated the Dryden area, adversely affecting access by the heavy equipment to the priority drill-hole sites. It was determined that rather than incurring standby costs while waiting for the ground to sufficiently solidify and/or freeze, the equipment was demobilized to Dryden a short 16 km distance away.
The average temperatures for Dryden, for the remainder of December 2016, are forecast to range between a midday high of -10°C and a night low of -18°C; temperatures projected to readily freeze the ground during the next fortnight. The Company anticipates that directly following the Christmas – New Year break, the site conditions will be suitable for the re-mobilisation of the drill rig and commencement of drilling. An ancillary benefit to the delay is that when the drill program is re-initiated, the frozen ground conditions will promote a reduced degree of environmental impact.
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 Mariana project strategically encompasses an entire mineral rich evaporate basin, totalling 160 square kilometres, that ranks as one of the more prospective salars or ‘salt lakes’ in the region.
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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.
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 lithium resource explorer of choice.
On behalf of the Board of Directors,
CEO, 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.
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