International Lithium And Pioneer Resources Announce the Completion of Drilling at the Mavis Lithium Project
International Lithium And Pioneer Resources Announce
the Completion of Drilling at the Mavis Lithium Project
Vancouver, B.C. March 13, 2017: International Lithium Corp. (the “Company” or “ILC”)
(TSX VENTURE: ILC.V) is pleased to announce , with strategic partner Pioneer
Resources Limited (“Pioneer”) (ASX: PIO), the completion of the first phase of Pioneer’s
drill program at the Mavis Lake Lithium Project in the province of Ontario, Canada.
Further to the Company’s news releases dated February 7 and February 8 announcing
the commencement and certain progress of exploratory drilling activities at the Mavis
Lake lithium pegmatite project currently under option to Pioneer , ILC has received
confirmation from Pioneer, the operator of the project , that the drilling program is now
complete.
Analytic results are not yet available for the recently completed drill program and ILC
has not yet had the opportunity to have a “Qualified Person” for the purposes of
National Instrument 43 -101 - Standards of Disclosure for Mineral Projects of the
Canadian Securities Administrators, review and approve the scientific and technical
information collected and presented by Pioneer.
Results of the drilling program will be presented as they become available.
About International Lithium Corp.
International Lithium Corp. is an exploration company with significant portfolio of
projects, strong management, 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 strate gic stake in the Mar iana lithium-potash brine
project, a joint venture with Ganfeng Lithium Co. Ltd. (“GFL”), located within the
renowned South American “Lithium Belt” that is the host to the vast majority of global
lithium resources, reserves and production. The Mariana proj ect strategically
encompasses an entire mineral rich evapor ite basin, totalling 160 square kilometres,
that ranks as one of the more prospective salars or ‘salt lakes’ in the region. Current
ownership of the project is through a joint venture company, Litio Minera Argentina S. A.
a private company registered in Argentina , owned 80% by Gfl 20% by ILC. In addition,
ILC has an option to acquire 10% in the Mariana project through a back-in right.
1111 Melville Street, Suite 1100
Vancouver, British Columbia
V6E 3V6, Canada
T: 604-700-8912
www.internationallithium.com
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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 the
Avalonia project in Ireland, which encompasses an extensive 50km -long pegmatite
belt. The Avalonia project is under option to strategic partner G FL, that currently owns
55% of the project. The Mavis and Raleigh projects are under option to strategic partner
Pioneer Resources Limited (ASX:PIO) pursuant to which Pioneer can acquire up to a
51% interest in the projects.
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.
With the increasing demand for high tech rechargeable batteries used in vehicle
propulsion technologies and portable electronics, lithium is paramount to tomorrow’s
“green-tech”, sustainable economy. By positioning itself with solid strategic partners and
acquiring high quality assets for the Energy Revolution supply chain, ILC aims to be the
partner of choice for investors in green -tech and to continue to build value for its
shareholders.
About Pioneer Resources Limited
Pioneer explores for key, global demand -driven commodities in prospective geological
domains, in areas with low geopolitical risk and w ith established infrastructure. Its
property portfolio includes lithium assets in Canada and mining regions of Western
Australia, plus strategically located gold and nickel projects in Western Australia.
In addition to the Mavis Lake and Raleigh Lithium Projects, Pioneer has been advancing
its 100%-owned Pioneer Dome Lithium Caesium Tantalum Project.
On behalf of the Board of Directors,
Kirill Klip
Chairman, President and CEO, International Lithium Corp.
For further information concerning this news release please contact +1 604-700-8912
Neither 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.
Cautionary Statement Regarding Forward-Looking Information
Except for statements of historical fact, this news release contains cert ain “forward -
looking information” within the meaning of applicable securities law. Forward -looking
information is frequently characterized by words such as “plan”, “expect”, “project”,
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“intend”, “believe”, “anticipate”, “estimate”, “will”, “could” and othe r similar words, or
statements that certain events or conditions “may” or “could” occur. Such forward -
looking information is based on a number of assumptions and subject to a variety of
risks and uncertainties, including but not limited to those discussed in the sections
entitled “Forward -Looking Statements” in the interim and annual Management’s
Discussion and Analysis which are available at www.sedar.com. While our management
believes that the assumptions made are reasonable, should one or more of the ris ks,
uncertainties or other factors materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described in forward -looking
information. Forward -looking information herein, and all subsequent written and ora l
forward-looking information are based on estimates and opinions of management on the
dates they are made and are expressly qualified in their entirety by this cautionary
statement. Except as required by law, the Company assumes no obligation to update
forward-looking information should circumstances or management’s estimates or
opinions change.