International Lithium Announces Multiple High-Grade Lithium Pegmatites Intersected at Mavis Lake Project, Ontario, Canada
“We are very pleased with the results Pioneer have achieved at Mavis and look forward to continued exploration success,” stated Kirill Klip, CEO of ILC. “Our concept of the Upper Canada Lithium Pool is moving forward and ILC has another lithium project in its portfolio moving toward a more advanced exploration stage. This success supports our strategy utilizing strategic partnerships to advance projects with the ultimate goal to secure lithium supply for the ongoing electrification of our transportation and energy storage applications.”
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"A pivotal drilling project undertaken by International Lithium Corp (TSXV: ILC)(“International Lithium”) last winter has revealed what the company long suspected; a large quantity of high-grade lithium present throughout their Mavis Lake project in Ontario. International lithium has enjoyed the support of Chinese lithium giant Ganfeng, as well as North-American and Australian exploration specialists Pioneer Resources for some years now, and the trio’s particular spread of bets is consistently proving to be a compelling investment.
In total, twelve diamond core drill holes were completed over a total of 1,305 metres across three distinct targets, and the results have been eagerly anticipated. As previously stated, the Ontario deposit features extensive formations and historical measurements that provided hints of the presence of high-grade material. Key results from the exploration work feature 1.47% Li2O over 17.90 metres, 1.70% Li2O over 26.30 metres (including a zone grading 2.97% over 7.70m), a further 1.45% Li2O over 16.55 metres, and 1.40% Li2O over 23.10 metres. Clearly, the project has followed through on its promises, and furthermore, a particular pegmatite area has demonstrated exceptional value.
The section marked as “Pegmatite 6 Target Area” even featured a 1.15 meter sample of an astonishing 4.20% Li2O, more than triple the commonly expected lithium presentation in these particular geological formations. Exploration of the region’s features has so far proven a horizontal strike length of 60 metres, and down dip to a maximum depth of 145 metres below the surface, providing ample evidence to drive the project forward. Mining at-surface provides its own immediate benefits, and given the emerging proof-of-concept, expect movement on international lithium stocks very shortly.
When asked to comment on the results of Mavis lake, CEO Kirill Klip had this to say:
“We are very pleased with the results Pioneer have achieved at Mavis and look forward to continued exploration success. Our concept of the Upper Canada Lithium Pool is moving forward and International Lithium has another lithium project in its portfolio moving toward a more advanced exploration stage. This success supports our strategy utilizing strategic partnerships to advance projects with the ultimate goal to secure lithium supply for the ongoing electrification of our transportation and energy storage applications.”
The company’s concept is to target what they call the “Upper Canada Lithium Pool” to provide the essential ingredients for the ever-growing energy storage market from the most profitable sources. In addition to Mavis Lake, two other pegmatite-based projects known as Raleigh and Forgan complete the Canadian pool, and their proximity to existing infrastructure is a huge boost to productivity. One further pegmatite project in Ireland is under option to Ganfeng and hosts a 50km belt of the crystallized volcanic rock.
Ganfeng will soon take over the management of Avalonia as well as international Lithium’s pride and joy, the Mariana brine project in Argentina, freeing up the company to focus on its Canadian developments with Pioneer. Mariana is embedded in the famous lithium triangle region of South America, and requires only evaporation time to reach full production, whereas processing pegmatite rocks requires a little more elbow grease. Thankfully, the grades now proven at Mavis mean that this will be more a labour of love than toil.
Strong relationships from the get-go provide significant advantages throughout any project, and the expertise, finance and global reach provided by International Lithium’s deals with Ganfeng and Pioneer have created a set of companies more capable than most of offering significant growth to any investor who wishes to participate in the great lithium race of our age. Often compared to the 1848 California gold-rush, the material has been aggressively sourced to prepare for the coming explosion in battery technologies fuelled largely by the increasing popularity of electric vehicles; the road so far has produced the results, and the equity boom is just around the corner."