VANCOUVER, British Columbia, April 24, 2012 (GLOBE NEWSWIRE)
--
http://internationallithium.com/s/NR_2012-04-24.asp
International Lithium Corp.
("ILC" or the "Company") is very
pleased to announce the discovery, through drilling, of the
extensive distribution of high grade potash at its 100% owned,
Mariana brine project located at Salar de Llullaillaco in the
province of Salta, northwestern Argentina. The results demonstrate
significant, consistent grades of potassium, with strong lithium
and boron upside potential, remaining open at depth, in all four
holes drilled.
Key Highlights:
- The highest grades of potash reported in an Argentine
Salar;
- High potash values continue from surface to bottom in
all holes;
- Potash, lithium and boron grades are open at
depth.
"We are very encouraged with the results from the Phase 1
resource delineation drilling at Mariana that confirmed our belief
in the potential of this multi-commodity potash-lithium-boron brine
project. The observed extent of high grade potash brine encountered
provides ILC the support and confidence to continue to advance our
plans towards development. The objective for the next stage of
exploration is to complete the remaining 10 to 12 holes needed for
delineation drilling in conjunction with hydrogeological testing
required to produce a reportable resource. Drilling will be
designed to test structures that may control higher grade potash,
lithium or boron zones" states Kirill Klip, President of the
Company.
The Company has received analytical results for Phase 1 of the
Resource Delineation drilling program at the Company's 100% owned
Mariana potash-lithium-boron brine project. Four (4) widely spaced
drill holes (totalling 444 metres), were positioned approximately 5
km apart to characterize the subsurface strata and brine across
several previously identified geological and geochemical regions
within the 10 x 15 km salar (salt lake) basin. Analytical results
indicate brines with potash grades significantly higher than those
reported in other Argentine salars. All three target
commodities - potash, lithium and boron are distributed with little
grade variation within each drill hole leaving all commodities open
at depth. Distribution across the salar shows increasing
grades to the north and west. The Company finds the wide
distribution of high potash values throughout the entire salar to
depth particularly encouraging.
Drill Hole |
Region |
Length |
K mg/L |
Li mg/L |
B mg/L |
Mg mg/L |
SO4= mg/L |
MA12-04 |
South |
102.0 m |
9389 |
255 |
510 |
4446 |
12785 |
MA12-05 |
Northeast |
119.5 m |
10464 |
324 |
631 |
4825 |
14137 |
MA12-06 |
West |
100.0 m |
11292 |
345 |
714 |
5069 |
13409 |
MA12-07 |
Central |
122.0 m |
9774 |
300 |
656 |
4534 |
14642 |
While the Company has always considered potash to be an
important part of the mineral potential at the Mariana Project,
recent drilling has identified potash as likely being the leading
value resource of this multi-commodity project. Contributions
from lithium and borates remain a fundamental component as we move
ahead through resource delineation and further evaluation of the
project.
The following tables present the ranges and averages of
potassium, lithium and boron for each drill hole.
Potassium
Results |
|
Potassium
mg/L |
Drill Hole |
Length |
Samples |
Max |
Average |
Min |
MA12-04 |
102.0 m |
14 |
10083 |
9389 |
7287 |
MA12-05 |
119.5 m |
20 |
10809 |
10464 |
9978 |
MA12-06 |
100.0 m |
16 |
12089 |
11292 |
10655 |
MA12-07 |
122.0 m |
20 |
10655 |
9774 |
9168 |
Lithium
Results |
|
Lithium
mg/L |
Drill Hole |
Length |
Samples |
Max |
Average |
Min |
MA12-04 |
102.0 m |
14 |
269 |
255 |
222 |
MA12-05 |
119.5 m |
20 |
345 |
324 |
296 |
MA12-06 |
100.0 m |
16 |
376 |
345 |
318 |
MA12-07 |
122.0 m |
20 |
327 |
300 |
271 |
Boron
Results |
|
Boron
mg/L |
Drill Hole |
Length |
Samples |
Max |
Average |
Min |
MA12-04 |
102.0 m |
14 |
551 |
510 |
411 |
MA12-05 |
119.5 m |
20 |
665 |
631 |
592 |
MA12-06 |
100.0 m |
16 |
751 |
714 |
670 |
MA12-07 |
122.0 m |
20 |
770 |
656 |
610 |
Averages in the preceding tables are not weighted and do not
take into account variation in hydrogeology. Since within-hole
variation in grade is minor they are believed to be appropriate
preliminary characterization of the average brine encountered in
the drill holes. Sample count is distinct intervals and does
not include replicates and control samples.
Mariana potash results are higher grades than those reported for
other Argentine salars. The following table compares Mariana
with similar brine projects in northwest Argentina. The
Company believes that the wide distribution of potash grades found
in the drilling results provides strong encouragement for an
expeditious completion of the resource delineation.
Comparison of Potassium in Argentine Salars
The following table compares drilling results from the Mariana
project with published results of other salars in northwestern
Argentina that have recently been actively explored for
brines. Potassium values characterizing other salars are from
published resource estimates except Cauchari (Orocobre) which is
based on averages of samples from two drill holes. The range
of values representing the Mariana project are the range of the
four (4) drill hole averages reported here and are believed to
accurately characterize potassium concentrations in the salar for
the purpose of comparison with other salars.
Project (Salar) |
Company |
Potassium (mg/L) |
Mariana (Llullaillaco) |
International Lithium
Corp |
9400 to 11300 |
Salinas Grande |
Orocobre Limited |
9547[1] |
Sal de Vida (Hombre Muerto) |
Lithium One Inc |
8051 to 8653[2] |
Rincon |
Sentient Group |
8070[3] |
Diablillos |
Rodinia Lithium Inc |
6206[4] |
Olaroz |
Orocobre Limited |
5730[5] |
Olaroz-Cauchari |
Lithium Americas Corp |
4900 to 5900[6] |
Cauchari |
Orocobre Limited |
4057 to 5111[7] |
Potassium (K) is a key element to all living things.
Even prior to the discovery of the element, humans were
familiar with potassium salts as a way to improve crop yield.
Today, its primary use is still for agricultural purposes in
fertilizer (about 95% of world production) with the remainder being
converted to potassium carbonate and utilized in glass and in
liquid detergents. The element potassium (K) is often
reported or discussed as its chemical compound potash
(K2O). The market for potassium (or potash) is world-wide and
much larger than the lithium market.
According to the Food and Agriculture Organization of the United
Nations (FAO), Argentina currently imports potash needed for
important agricultural applications. This indicates domestic
demand for a potash producer, further promoting advancement of the
Mariana project, especially given its high grade of potash.
Following review of these encouraging results, the Company is
preparing to complete resource delineation with the intent to move
toward a primary economic assessment of the potash, lithium and
boron hosted in the salar.
Reverse circulation drilling services were provided by Compañía
Argentina de Perforaciones S.A (CAPSA) of Salta, Argentina.
Brine samples were analysed by Acme Analytical Laboratories
(Chile) S.A. in Santiago, Chile. The lab is ISO 9001:2000
certified and is widely recognised as a leading laboratory for
geochemical analysis with experience in brine analysis.
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. He has relied
upon published data from other companies exploring salars in
northwestern Argentina that he was not in a position to verify but
believes to be accurate.
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.
ILC currently has 9 active rare metals projects, well balanced
between lithium-potash brines in Argentina, Nevada and hard-rock
pegmatites in Canada and Ireland. The Company's primary focus
is the Mariana lithium-potash brine project, a salar or 'salt
lake', covering an expansive 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-potash brine project ranks as
one of the more prospective salars in the region.
Complementing the Company's lithium brine projects are the rare
metals pegmatite properties. The key characteristics shared
by the hard-rock rare metals projects are their limited past
exploration, excellent accessibility and limited assaying for rare
metals. All of which imply a clear potential for additional
exploration and development as well as added project value to meet
the global technological growth in demand for the rare metals 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,
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.
[1] Orocobre News Release, dated 6 March, 2012
[2] Lithium One, NI43-101 Tech Report, dated 7 March, 2011
[3] Admiralty Resources, News Release & Report, dated 23
July, 2007 (property now held by Sentient Group)
[4] Rodinia Lithium, NI43-101 Tech Report, dated 22 December,
2011
[5] Orocobre, NI43-101 Tech Report dated 13 May 2011
[6] Lithium Americas, NI43-101 Tech Report, dated 6 December,
2010
[7] Orocobre, News Release dated 25 January, 2012 (averages of
two drill holes 177 and 244m in length)
CONTACT: 620 - 650 West Georgia Street
Vancouver, British Columbia
V6B 4N9, Canada
Voice: (604) 687-7551
Fax: (604) 687-4670
1-800-667-4470
E-mail: info@internationallithium.com
Website: http://www.internationallithium.com
International Lithium (TSXV:ILC)
Historical Stock Chart
Von Okt 2024 bis Nov 2024
International Lithium (TSXV:ILC)
Historical Stock Chart
Von Nov 2023 bis Nov 2024