International Lithium Corp. discovers over 20 new pegmatites, further Expands Raleigh Lake Lithium and Rubidium project in
NEWS RELEASE
International Lithium Corp. discovers over 20 new pegmatites,
further Expands Raleigh Lake Lithium and Rubidium project in
Ontario, Canada
Vancouver, December 16, 2021. The board of International Lithium Corp. (the “Company” or
“ILC”, TSX Venture: ILC) is pleased to announce the further expansion of its Raleigh Lake
lithium and rubidium project in Ontario, Canada where it now has claims totalling over 47,000
hectares (470 square kilometres), an increase of more than 20,000 hectares from the
previously announced 27,000 hectares (October 25, 2021). At the same time the Company
announces the completion of an exploration program at Raleigh Lake and the discovery of
several new pegmatite occurrences within the expanded claim holdings.
Highlights
Raleigh Lake claims expanded to 47,000 hectares based on structural
interpretations and successful discoveries of pegmatites during short field program
Over 20 new and previously unknown pegmatites discovered throughout the
expanded Raleigh Lake project claim groupings
Potassium and rubidium ratios in several pegmatites sampled indicate a highly
evolved pegmatite system capable of hosting lithium, caesium, rubidium and
tantalum mineralization
International Lithium Corp. carried out a field program at the Raleigh Lake project in October
2021 which included a regional lithogeochemical survey within the newly expanded historical
claim group, a biogeochemical orientation survey over the main pegmatites in Zone 1, regional
prospecting and mapping of cut blocks within the historical claim group and a cursory
examination of highly prospective ground recently acquired through staking. Highlights of the
recent work include the discovery of over 20 new and previously unknown pegmatites within
the newly acquired mineral claims.
Given the sizeable area and the number of new claims, the project is being divided according to
geographic parameters and certain controls on the type of mineralization styles within these
zones (Figure 1):
Raleigh Lake – approximately 14,000 hectares consisting of the original 3,000 hectare
claim group and hosting the spodumene rich mineralization in Pegmatite 1 and
Pegmatite 3. This claim group was divided into 5 zones previously and is now extended
to the south and east encompassing most of the Raleigh Lake Greenstone Belt.
Hawk Lake – is approximately 14,000 hectares southwest of and contiguous with the
Raleigh Lake claims. Hawk Lake encompasses portions of the Bending Lake
Greenstone Belt and has demonstrated pegmatite occurrences.
725 Granville Street, Suite 400
Vancouver, British Columbia
V7Y 1G5, Canada
T: +1-604-449-6520
www.internationallithium.com
Owl Lake – is an independent contiguous block of approximately 5,600 hectares
located 15 kilometres south-southeast of Ignace, Ontario. The claim group is road
accessible yet the lack of historical records suggests it is underexplored. The claims
were acquired based on structural interpretations derived from regional geophysical
data sets and initial prospecting late in the fall 2021 program identified several
pegmatites in outcrop that are worth further investigation.
White Otter – approximately 14,000 hectares immediately south of the Raleigh Lake
block and between the Hawk Lake and Owl Lake blocks. The first White Otter claims
were acquired based on pegmatites reported in drill holes by previous operators.
Subsequent fieldwork revealed an extensive swarm of pegmatites located in road beds,
road cuts and recent harvested cut blocks. Over sixteen pegmatites, with most
exhibiting favourable peraluminous mineralization indicating a highly evolved pegmatite
system, were discovered in a short time within this claim block with analytical and
interpretive results pending.
Figure 1: Raleigh Lake Project Claim Blocks.
Exploration Program
The Fall 2021 exploration program carried out over the month of October included three major
activities that were designed to identify and prioritise targets for future exploration focus, drilling
and eventual resource evaluation.
1. Lithogeochemistry program
A total of 1089 lithogeochemistry samples were collected between September 29th and
October 30th (Figure 2). The primary goal for this component of work was to test for
exomorphic dispersion of lithium and other rare-metals into the volcanic, volcaniclastic and
subvolcanic intrusions of the host greenstone belt. The bedrock sampling program also
ensures a systematic examination of outcrops are completed while conducting traverses.
Sampling lines were designed to mesh seamlessly into the grids of historical work
programs. The sampling procedure at each site mirrored historical procedures with the goal
to minimize levelling of data between seasons. The results for this program will be
evaluated and related to earlier work in order to determine if further levelling is required to
merge with the historic data sets or alternatively be analysed independently of historical
results.
Analytical results are still under process at the time of writing.
Figure 2: Lithogeochemistry sampling coverage for the Raleigh Lake project.
2. Biogeochemistry Orientation Survey program
A biogeochemical survey was conducted over the Pegmatite 1 and Pegmatite 3 areas
following a favourable outcome reported in a paper describing deployment of that same
survey type in the Patterson Lake pegmatite belt by Avalon Advanced Materials Inc. north
of Kenora in 2017. The terrain, biodiversity of boreal terrains, target type and host rock
geology of the Patterson Lake group of rare-metal pegmatites are comparable to Raleigh
Lake. If successful, the results will highlight anomalies within the selected medium that can
be used to directly identify blind pegmatite bodies. The method can be scaled accordingly
to accommodate areas within the Raleigh Lake pegmatite field or other broadly based
regional targets.
A four-line, 66 station vegetation orientation survey was conducted between September
29th and October 1st of 2021. The four survey lines were oriented normal to the projected
strike of pegmatites that were both exposed and buried beneath varying amounts of
overburden. About 100 grams of bark-strip was collected from black spruce trees (picea
mariana) within a 3 metre search radius of the pre-defined station. Sample preference was
given to trees with a larger trunk, longer growing history and wider root base for anomaly
catchment and recognition. To complement the bark samples, leaves and twigs from the
outer 30 centimetres of alder branches were also collected. An equipment failure at the
prep lab has delayed the chemical analysis of the biogeochemistry samples with no
estimated time for completion available at the time of writing.
3. Rock Sampling, Prospecting and Mapping Program
A total of 59 various grab samples were collected during the mapping and prospecting
program conducted as a first pass over sections of the greatly expanded project area. Fifty-
one (51) of the samples were prospective for rare-metal enrichment and the remaining eight
(8) were sent for base-metal and multi-element analysis. The approximate locations and
spatial distribution of the grab samples is shown in Figure 3.
Geological mapping was conducted by crew members in recently harvested clear cut
blocks. Any significant rare or base-metal occurrences were mapped and sampled
appropriately by the mapping crews. Over 20 new pegmatite sites spanning a region 12
kilometres long by 4 kilometres wide were identified within the White Otter claim block with
additional pegmatites discovered in the Hawk Lake, Owl Lake and Raleigh Lake blocks.
The most abundant pegmatite type in the White Otter area was composed predominantly of
megacrystic potassium feldspar, smoky quartz and dark muscovite pegmatite. Occasional
traces of molybdenite and even rarer purple fluorite were observed which increased in
abundance from west to east. Evolved textures like the exsolution of quartz in feldspar
(graphic textures), were identified in many locations. The dominant emplacement
geometries in this location seem to lay in a 070° trend through the centre of the claim block.
The second style pegmatite is albite-muscovite-quartz-garnet, and primarily occurs within
ground mapped as mafic volcanic or bedded to laminated volcaniclastic. These are visually
quite different from the first style, presenting as bright white and not as coarse grained.
Testing For Rare-Element (lithium-caesium-tantalum) Potential
To fully understand the mineral and exploration potential of the newly discovered White
Otter pegmatites to host lithium, caesium, rubidium, tantalum and associated mineralization
typical of LCT-type pegmatites, a total of 48 channel samples were collected across the
claim group (Figure 3). Forty-one (41) were collected from rare-metal prospects and new
pegmatite discoveries and seven (7) were collected from base-metal and gold prospects.
Final results for all channel samples are still pending, however, some mineralogical work
was fast-tracked on the rare-metal pegmatite channel samples and those results have been
released and are currently being fully evaluated. Initial implications are that most of the 16
White Otter pegmatites have reported highly anomalous rubidium values and no associated
lithium bearing minerals indicating that the rubidium is likely to be present in the potassium
feldspar minerals. The elevated rubidium to potassium ratios in these samples coupled with
high rubidium/strontium ratios indicates that these pegmatites are derived from a
peraluminous source and have a high probability to host lithium-bearing deposits enriched
in caesium and rubidium minerals, among others. This conclusion is further supported by
the high manganese values coincident with abundant orange spessartine garnets observed
in some of the samples.
Figure 3: Spatial Distribution of grab and channel samples within the Raleigh Lake project area.
The channel sample locations coincide with new pegmatite discoveries, however, not all new
pegmatite discoveries were sampled and therefore are not indicated on the image.
In conclusion, the Company is highly encouraged by the results of the program whereby such a
high number of previously unknown pegmatites were discovered in such a short time during a
field program originally designed to advance and expand the highly prospective pegmatite
discoveries on the original 3,000 hectare Raleigh Project claim block. The Company is planning
for an extensive exploration campaign in 2022 that will further evaluate the potential of the
entire Raleigh Lake project area.
John Wisbey, Chairman and CEO of International Lithium Corp. commented:
“This was a very encouraging exploration program, with over 20 new pegmatites discovered at
ground level over multiple kilometres. A consistent theme is that the Raleigh Lake project is a
mineral rich area with appreciable anomalous (i.e. high) amounts of rubidium as well as lithium.
This mineral richness and the extent of the pegmatites is why we expanded and expanded
again our claims area beyond what we originally intended. 47,000 hectares is the size of the
city of Stuttgart, and larger than the cities of Montreal, Denver or Detroit - so clearly this
program will require various stages and careful planning. Analysis laboratories are stretched at
the moment, and we are still waiting for some of the results, with an equipment failure at one of
the third party laboratories holding us up even beyond the expected waiting period. Once we
get all these results we will rapidly decide on the optimal drilling program for Raleigh Lake in
2022 with a view to getting some resource estimates in 2022 from a portion of our claims.”
About International Lithium Corp.
International Lithium Corp. believes that the ‘20s will be the decade of battery metals, at a time
that the world faces a significant turning point in the energy market’s dependence on oil and
gas and in the governmental and public view of climate change. Our key mission in this decade
is to make money for our shareholders from lithium and rare metals while at the same time
helping to create a greener, cleaner planet. This includes optimizing the value of our existing
projects in Canada and Ireland as well as finding, exploring and developing projects that have
the potential to become world class lithium and rare metal deposits. In addition, we have seen
the clear and growing wish by the USA and Canada to safeguard their supplies of critical
battery metals, and our Canadian Raleigh Lake property is strategic in that respect.
A key goal has been to become a well funded company to turn our aspirations into reality, and
following the disposal of the Mariana project in Argentina in 2021, the Board of the Company
considers that ILC is already well placed in that respect with a strong net cash position. The
disposal of Mavis Lake, assuming the option is exercised as planned, will add useful further
liquidity.
International Lithium Corp. has a significant portfolio of projects, strong management, and
strong partners. Partners include Ganfeng Lithium Co. Ltd., (“Ganfeng Lithium”) a leading
China-based lithium product manufacturer quoted on the Shenzhen and Hong Kong stock
exchanges (A share code: 002460, H share code: 1772) and Essential Metals Limited, quoted
on the Australian Stock Exchange (ASX:ESS).
The Company’s primary strategic focus is now on the Raleigh Lake lithium and rubidium project
in Canada and on identifying additional properties.
The Raleigh Lake project now consists of over 47,000 hectares (470 square kilometres) of
adjoining mineral claims in Ontario, and is ILC’s most significant project in Canada. The
exploration results there so far, which are on only about 5% of ILC’s current claims, have
shown significant quantities of rubidium and caesium in the pegmatite as well as lithium.
Raleigh Lake is 100% owned by ILC, is not subject to any encumbrances, and is royalty free.
Complementing the Company’s rare metal pegmatite property at Raleigh Lake, are interests in
two other rare metal pegmatite properties in Ontario, Canada known as the Mavis Lake and
Forgan Lake projects, and the Avalonia project in Ireland, which encompasses an extensive 50-
km-long pegmatite belt.
The ownership of the Mavis Lake project is currently 51% Essential Metals Limited (ASX: ESS,
“ESS”) and 49% ILC. In addition, ILC owns a 1.5% NSR on Mavis Lake. ESS has an option to
earn an additional 29% by sole-funding a further CAD $8.5 million expenditures of exploration
activities, at which time the ownership will be 80% ESS and 20% ILC. Mavis Lake is now under
option until January 2022 to Critical Resources Ltd. (ASX:CRR) to buy 100% at which point
ILC’s NSR would also be surrendered. If exercised, that option will bring the Company
approximately CAD$1.4m of cash and shares in CRR, with upto a further CAD$1.4m if certain
resource targets are achieved by CRR. If CRR were to complete its purchase but then sell or
joint venture the Mavis Lake claims in future, this further payment obligation would pass to any
future owner of the claims. ILC and ESS would have a right of first refusal to buy the claims
back if CRR had not achieved and made additional payment for the first additional payment
milestone.
The Forgan Lake project will, upon Ultra Resources Inc. meeting its contractual requirements
pursuant to its agreement with ILC, become 100% owned by Ultra Resources (TSXV: ULT),
and ILC will retain a 1.5% NSR on Forgan Lake.
The ownership of the Avalonia project is currently 55% Ganfeng Lithium and 45% ILC. Ganfeng
Lithium has an option to earn an additional 24% by either incurring CAD$ 10 million
expenditures on exploration activities by September 2024 or delivering a positive feasibility
study on the project, at which time the ownership will be 79% Ganfeng Lithium and 21% ILC. In
the event that ILC does not contribute to the project after that, and its share consequently falls
below 10% of the project, its share will be substituted by a 1% NSR.
With the increasing demand for high tech rechargeable batteries used in electric vehicles and
electrical storage as well as portable electronics, lithium has been designated “the new oil”, and
is a key part of a “green tech” sustainable economy. By positioning itself with projects with
significant resource potential and with solid strategic partners, ILC aims to be one of the lithium
and rare metals resource developers of choice for investors and to continue to build value for
its shareholders in the ‘20s, the decade of battery metals.
Patrick McLaughlin, P. Geo., a Qualified Person as defined by NI 43-101, has verified the
disclosed technical information and has reviewed and approved the contents of this news
release.
On behalf of the Company,
John Wisbey
Chairman and CEO
www.internationallithium.com
For further information concerning this news release please contact +1 604-449-6520
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 or other releases contain certain
“forward-looking information” within the meaning of applicable securities law. Forward-looking
information or forward-looking statements in this or other news releases may include: the effect
of results of anticipated production rates, the timing and/or anticipated results of drilling on the
Raleigh Lake or Avalonia projects, the expectation of resource estimates, preliminary economic
assessments, feasibility studies, lithium or rubidium or caesium recoveries, modeling of capital
and operating costs, results of studies utilizing various technologies at the Company’s projects,
budgeted expenditures and planned exploration work on the Avalonia Joint Venture,
satisfactory completion of the sale of mineral rights at Forgan Lake, increased value of
shareholder investments, and assumptions about ethical behaviour by our joint venture
partners where we have them. 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 “Risks” and “Forward-Looking Statements” in the
interim and annual Management’s Discussion and Analysis which are available at
www.sedar.com. While management believes that the assumptions made are reasonable, there
can be no assurance that forward-looking statements will prove to be accurate. 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 expectations, estimates and opinions of management on the
dates they are made that, while considered reasonable by the Company as of the time of such
statements, are subject to significant business, economic, legislative, and competitive
uncertainties and contingencies. These estimates and assumptions may prove to be incorrect
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.