International Lithium Announces Multiple High-Grade Lithium Pegmatites Intersected at Mavis Lake Project, Ontario, Canada
International Lithium Announces Multiple High-Grade Lithium Pegmatites
Intersected at Mavis Lake Project, Ontario, Canada
Vancouver, B.C. April 11, 2017: International Lithium Corp. (the “ Company” or “ILC”)
(TSX VENTURE: ILC) is pleased to announce, with strategic partner Pioneer Resources
Limited (“Pioneer”) (ASX: PIO), and further to the Company’s news release of March 13,
2017, the analytical results from the recently completed winter drill program at the Mavis
Lake Lithium Project in Ontario, Canada.
Key Intersections from the Pegmatite 6 Target Area*:
1.47% lithium oxide (“ Li2O”) over 17.90 metres* from 80.00 metres in drill hole
MF17-39;
1.70% Li 2O over 26.30 metres from 111.9m in drill hole MF17-49, including a
zone grading 2.97% Li2O over 7.70m; and
1.45% Li 2O over 16.55 metres from 74.55 metres and 1.40% Li 2O over 23.10
metres from 122.00 metres in drill hole MF17-50.
* All widths reported are drill core widths and have not been converted into true width. True width of the
drill hole intercepts, which may be shorter than those reported, are currently unkn own.
Drilling at the Mavis Lake Lithium Project (“Mavis”) commenced on February 4 , 2017
under the direction of Pioneer (the Co mpany’s strategic partner) and was completed on
March 2, 2017. In total, 12 o riented diamond core drill holes were completed for a total
of 1,305 metres across three target areas: PEG006, PEG006.5 and PEG018 (Fig. 1).
Pegmatite 6 Target Area
Four holes were drilled during the current campaign to follow up on mineralization
encountered in previous drill holes MF -11-12 and MF -12-24 (see Company news
releases dated January 12, 2012 and February 19, 2013). Each of the current drill holes
intersected spodumene-bearing pegmatites of varied thickness (Table 1).
Drill holes MF17-49 and MF17-50 intersected zones of mineralized pegmatite at deeper
depths than previously encountered and represent a new discovery at the Mavis
Project. Hole MF17 -49 returned 1.70% Li 2O over 26.30 metres from 111.9 metres,
including 2.97% Li 2O over 7.70 metres with one sample grading 4.20% Li 2O over 1.15
metres.
1111 Melville Street, Suite 1100
Vancouver, British Columbia
V6E 3V6, Canada
T: 604-700-8912
www.internationallithium.com
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To date, the drilling in the Pegmatite 6 target area has drill tested a horizontal strike
length of 60 metres and down dip to a maximum depth of 145 metres below surface.
Figure 1: Generalized location of the 2017 drill holes relative to known pegmatite
occurances at the Mavis lithium project.
Table 1: Selected assay results from the Pegmatite 6 Target Area.
PEG006 Target Area
Hole From: To: *Width Li2O Comments
(m) (m) (m) (Wt%)
MF17-39 80.00 97.90 17.90 1.47 MF17-40 80.05 92.90 12.85 1.16
MF17-49 49.05 53.20 4.15 2.50
and 78.05 87.30 9.25 1.34
and 111.90 138.20 26.30 1.70 Includes 2.5m of volcanic host
including 122.95 138.20 15.25 2.05 including 130.50 138.20 7.70 2.97
MF17-50 46.45 52.55 6.10 2.15
and 74.55 91.10 16.55 1.45 Includes 1.55m of volcanic host
including 75.55 80.90 5.35 2.33
and 122.00 145.10 23.10 1.36 includes 6.7m of up to 1.20%
Li2O within volcanic host
*All widths reported are core widths and have not been converted to true widths . True width of the drill
hole intercepts, which may be shorter than those reported, are currently unknown.
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Drill hole MF17 -41 drilled at the Pegmatite 6.5 Target Area returned no significant
results.
"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 electr ification of our transportation and energy
storage applications."
Pegmatite 18 Target Area
Seven drill holes were drilled to test the lateral and do wn-dip extent of Pegmatite 18, a
shallow, south -westerly dipping pegmatite that has been traced for 215 metres on
surface (see Company news release dated December 1, 2016).
All seven drill holes intersected Pegmatite 18 with the intercepts varying in spodumene
content (5-45%) and drill hole intersections (1.5 - 9.85m).
Table 2: Selected assay results from the Pegmatite 18 Target Area.
PEG018 Target Area
Hole From: To: *Width Li2O Comments
(m) (m) (m) (Wt%)
MF17-42 9.85 15.25 5.40 1.04 includes 1.7m of volcanic host
including 9.85 12.10 2.25 1.57
MF17-43 10.00 15.00 5.00 1.29
MF17-44 12.85 18.85 6.00 0.96
MF17-45 38.15 42.85 4.70 1.50
MF17-46 27.55 30.35 2.80 1.50
MF17-47 57.45 60.45 3.00 1.27
MF17-48 - - - - no significant results
*All widths reported are core widths and have not been converted to true widths . True width of the drill
hole intercepts, which may be shorter than those reported, are currently unknown.
Laboratory work was conducted by Activation Laboratories Ltd . of Ancaster, Ontario ,
with samples submitted by Pioneer’s representatives to their preparation facilities in
Dryden, Ontario. Activation Laboratories Ltd. is an ISO 17025:2005 and CAN -P-1579
certified laboratory. Analysis was performed using a Na -peroxide fusion digestions
followed by an ICP-OES and ICP-MS finish.
Afzaal Pirzada, P. Geo., a “Qualified Person” for the purposes of Canadian Securities
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Administrators’ National Instrument 43 -101 - Standards of Disclosure for Mineral
Projects, and Consultant to the Company, has reviewed and approved the scientific and
technical information contained in this news release.
Table 3: Preliminary drill hole collar location summary.
Hole ID
East
(m)
North
(m)
RL
(m)
Datum
Azimuth
(o)
Dip
(o)
Hole
Depth
(m)
MF17-39 524,382 5,518,032 420 UTM15N/NAD83 80 -75 179
MF17-40 524,380 5,518,032 420 UTM15N/NAD83 40 -70 194
MF17-41 524,680 5,517,858 428 UTM15N/NAD83 0 -51 68
MF17-42 525,916 5,519,124 437 UTM15N/NAD83 60 -50 113
MF17-43 525,911 5,519,128 437 UTM15N/NAD83 5 -50 62
MF17-44 525,941 5,519,111 438 UTM15N/NAD83 130 -50 68
MF17-45 525,907 5,519,081 442 UTM15N/NAD83 135 -50 77
MF17-46 525,883 5,519,099 443 UTM15N/NAD83 10 -70 71
MF17-47 525,856 5,519,051 439 UTM15N/NAD83 100 -55 80
MF17-48 525,854 5,519,050 439 UTM15N/NAD83 0 -70 68
MF17-49 524,388 5,518,035 415 UTM15N/NAD83 93 -63 161
MF-17-50 524,404 5,518,036 415 UTM15N/NAD83 94 -63.0 164
Other News
In recent meetings of the Management Committees for the Avalonia lithium pegmatite
project in Ireland and the Mariana lithium brine project in Argentina, it was decided that
Ganfeng Lithium Co. Ltd., will take over the role as Manager of each project and
continue to carry out the exploration work pursuant to the respec tive option and joint
venture agreements.
About International Lithium Corp.
International Lithium Corp. has a 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 strategic stake in the Mariana lithium -potash brine
project 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 project,
strategically encompasses an entire mineral rich evaporite basin, totalling 160 square
kilometres, that ranks as one of the more prospective salars or ‘salt lakes’ in the re gion.
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 Ganfeng
Lithium Co. Ltd. (“GFL”), and 20% by ILC. In addition, ILC has an option to acquire 10%
in the Mariana project through a back-in right.
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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 GFL, that currently owns 55%
of the project. The Mavis and Raleigh projects are under option to strategic partner
Pioneer Resources Limited (ASX:PIO) pursua nt 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 previous ly 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
Executive Chairman
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 certain “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 other 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 risks,
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 oral
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.