The history is made right in front of our eyes. Tesla Gigafactory will bring the Wholly Grail for the Lithium Batteries - dramatically reduced cost of $100 per kWh and will open the floodgates for electric cars mass market. Elon Musk has already started the new Lithium Fever and Megafactories in China are adding to the rush to secure supply of this strategic commodity. Lithium is the magic metal which is right in the heart of this next industrial rEVolution. We can only imaging what will happen when Apple comes out from hiding with its Electric Apple iCar!
I have written extensively about International Lithium and our strategic partner Ganfeng Lithium. Our J/Vs in Argentina and Ireland are financed by this giant from China and we have very important access to the technology. Basically we are building the secure supply chain for Ganfeng Lithium using their expertise in raw materials needed for production of battery grade lithium from the very beginning. Our brine bulk sample from Mariana is being tested at Ganfeng state-of-the-art R&D facilities in China and in Ireland we have identified 22 exploration targets. Now, according to our latest NR, we are waiting for the approval of the budgets for both projects to be rapidly advanced after very encouraging results were received from the last exploration stage this year.
Today I would like to show you another side of International Lithium. We have the very strong technical team headed by our CEO Gary Schellenberg. Anthony Kovac - our COO and John Harrop - our VP of Exploration are among very few top level exploration managers and geologists in lithium sector. This Team depth has allowed International lithium to attract Ganfeng and strike two major J/V deals in all our industry. These days we are getting the first fruits of this very hard work. Coming volume shows that market is waking up and we are receiving at least some recognition of the value we have been building all these years.
I am talking a lot about the security of lithium supply and Tesla Lithium Hydroxide Supply Deal is another proof and was noticed by market overnight. Now venture capital is knocking on all doors chasing the upstream supply chain for electric cars and Energy rEVolution.
We have another great project at International Lithium: Mavis Lake Lithium And Tantalum Project which is located in mining friendly Canada in the area with excellent infrastructure and very encouraging initial exploration results with high grade Lithium and Tantalum. It will be our next strategic advance for the company. With J/Vs moving forward we are looking for the strong Strategic Partner to develop this project for the potential supply of this strategic commodity for the ongoing Next Industrial rEVolution. West will wake up one day to the fact that China has managed to control now not only over 90% of REE production, but 75% of Battery Grade Lithium Hydroxide as well.
Security of Supply means exactly this - Security. When the price is taking the second consideration and availability of critical materials is taking the central stage. My personal mission is to make this Security happen for the Western world for real as well, even if this part of the World still lives by HFT rules and Q by Q performance reflecting the coming bonuses. Our Asian friends are beating us all here with the state-level plans looking for The Next Fifty Years and building new strategic industries like Electric Cars in China.
We have Elon Musk, we need more like him, but it is a very good start. Our strategic partner for Mavis Lake is waiting somewhere in between of latest Q performance reviews. If you know the one - you know whom to call. Now I do not have really to explain any more What Is Lithium For - Elon Musk has made the great job and every single Tesla Model S is the best moving ad of the things to come. All cars will be electric and it will be very soon. And by the way any new hard rock mine for Lithium will take 5-7 years to build Lithium brine operations will take 4-5 years at best.
Why International Lithium? You can check presentation above.
With lithium in the headlines these days I would like to present International Lithium's Mavis Lake Lithium and Tantalum project in Canada. Our J/V projects with Ganfeng Lithium: Avalonia in Ireland and Mariana in Argentina - are better known, but Mavis Lake presents another very important opportunity for advance of potential source of conflict free strategic commodities in politically stable Canada.
Vancouver B.C. April 3, 2013: International Lithium Corp. ("ILC" or the "Company") (ILC: TSX-V) is pleased to announce lithium and associated rare metal assay results from the remaining eight drill holes of the recent 19 hole (2,075 metre) diamond drill program on the lithium and rare metals pegmatite field spanning the contiguous Fairservice and Mavis Lake claim blocks near Dryden, Ontario.
• 1.34% Li2O over 8.50m intersected in MF-12-33
• 1.05% Li2O over 10.85m intersected in MF-12-34
• 1.06% Li2O over 10.75m intersected in MF-12-36
Recent Drill Program
The objective of the 2012 drill program carried out at the Fairservice/Mavis Lake project during November and December was to test the subsurface continuity of significant pegmatite intersections along strike and down dip. Extensive structural, geological, geochemical and geophysical interpretations of both new and historical data were utilized to co-ordinate drilling and better understand the orientation and distribution of pegmatite bodies in the area.
The following table reports highlights from the final eight holes of the 2012 program.
* All widths reported are drill core widths and have not been converted into true width.
The following table includes intervals of significant Tantalum values from MF-12-31 through MF-12-38:
* All widths reported are drill core widths and have not been converted into true width.
Diamond drill holes were oriented perpendicular to the surface trace of the Central Band of pegmatite. The Central Band has a number of lithium-bearing outcrops that were the focus of historical drill programs and currently forms the primary target for the Company's recent drilling. It is now evident that the Central Band of pegmatites has a thick, shallow dipping, spodumene-bearing core zone centred on pegmatite #4.
Laboratory work was conducted by Activation Laboratories Ltd of Ancaster, Ontario with the samples being submitted by Company staff to their Dryden prep facilities. Activation Laboratories is an accredited laboratory with ISO 17025:2005 and CAN-P-1579 certification. Analysis was conducted using a sodium peroxide fusion followed by ICP-MS. The Company uses industry recognized practices to ensure quality control. To support this, a number of large samples were collected from surface sites known to have significant lithium and tantalum values. Following preliminary analysis a blend of these samples is being used to develop a certified reference material matrix matched to the Companies pegmatite projects. The new reference material has been inserted into the sample stream at the Property and will be utilized on other Company projects.
The Mavis - Fairservice Property Area
The property is located 15 km Northeast of Dryden, Ontario and is easily accessed via the Trans-Canada Highway and a series of logging roads. The claim blocks comprise a total of 2,624 hectares and straddle a continuous pegmatite field exhibiting high-grade, well-evolved, lithium and tantalum zonation as well as significant levels of cesium and rubidium. Regional pegmatite mineralization is directly associated with the strongly peraluminous Ghost Lake Pluton and related pegmatitic granite dykes. Rare metal mineralization in the Mavis Lake area occurs in zoned pegmatites hosted by mafic metavolcanic rocks. Rare metal mineralization occurs in four zones: internal beryl zone within the parent of the Ghost Lake pluton that evolves to the east within the Fairservice and Mavis Lake claim blocks into external zones of beryl-columbite, spodumene-beryl-tantalite and albite-type pegmatites.
John Harrop, P.Geo, FGS, 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 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,
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."
Mavis / Fair Service
The Mavis-Fairservice property forms a package of mineral claims currently being explored by International Lithium Corp (ILC). This package covers the pegmatite belt adjacent to Mavis Lake near Dryden, Ontario (Fig. 1). Although different types of mineral claims are included, they share a common exploration plan.
The Mavis-Fairservice Lithium-Rare Metals Property, which consists of 19 contiguous claims (totalling 2,632 ha) within Brownridge Township, is located approximately 19 km northeast of Dryden in north-western Ontario. The property extends south and east of Mavis Lake and is bordered to the east by the Lola Lake Provincial Nature Reserve (Fig. 2).
Fig. 2: Mavis-Fairservice property claim boundary.
2011 Drill Program
A total of 20 holes were drilled during August/September 2011 summer drill program at the Mavis-Fairservice project. The program totaled 1753m, as outlined in Table 1, a 46% increase from the original plan of 1200m drill due to encouraging results.
Of the 20 holes drilled, 17 intersected one or more intervals of pegmatite greater than 2 metres and up to 78 metres in length. 13 of 17 drill holes intersected pegmatites greater than 2 metres thick and returned notable lithium grades (Table 1). Coarse grains (>5cm wide) of spodumene, a major lithium ore mineral, were common. Fig. 3 shows a wide, coarse grained pegmatite intersection from drill hole MF11-12
Table 1: Significant Intervals of Li2O*
* News Release January 12, 2012
All widths reported are drill core widths and have not been converted into true width.
Fig. 3: Coarse grained pegmatite from drill hole MF11-12, interval from 149.3-166.2m.
John Harrop, PGeo, FGS, Vice President of Exploration of the Company is a "Qualified Person" as defined under NI 43-101 has reviewed and approved the technical content of this website.