International Lithium Provides Update on Exploration Strategy For Mavis Lithium Project, Ontario, Canada
International Lithium Provides Update on Exploration
Strategy For Mavis Lithium Project, Ontario, Canada
Vancouver, B.C. October 17, 2017: International Lithium Corp. (the “ Company” or
“ILC”) (TSX VENTURE: ILC) is pleased to announce , with strategic partner Pioneer
Resources Limited (“Pione er”) (ASX: PIO), and further to the Company’s news release
of April 11, 2017, an update on the Mavis Lake Lithium Project in Ontario, Canada.
Drilling at the Mavis Lake Lithium Project (“Mavis”) conducted in February 2017 under
the direction of Pioneer (the Com pany’s strategic partner) resulted in several key
intersections at the Pegmatite 6 Target Area (Fig. 1).
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.
Pegmatite 6 Target Area
As previously reported, f our holes were drilled during the 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
new 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.
To date, the drilling in the Pegmatite 6 target area has drill tested a ho rizontal strike
length of 60 metres and down dip to a maximum depth of 145 metres below surface.
1111 Melville Street, Suite 1100
Vancouver, British Columbia
V6E 3V6, Canada
T: 604-700-8912
www.internationallithium.com
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Figure 1: Generalized location of the 2017 drill holes relative to known pegmatite
occurrences 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.
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The companies now report that a crew will be dispatched to follow up on and ascertain
adequate locations for the next round of drilling to occur at the Pegmatite 6 target area.
"The new deeper discoveries at the Pegmatite 6 area is cause for our joint venture
partner, Pioneer Resources to investigate the prospectivity of this target in more detail
in upcoming drilling campaigns,” stated Kirill Klip, Executive Chairman of ILC. “To build
on the successful discoveries here at Mavis Lake will add sig nificantly to our concept of
the Upper Canada Lithium Pool. Our strategy to utilize strategic partnerships to advance
projects with the ultimate goal to secure lithium supply for the ongoing electrification of
our transportation and energy storage applications is proving to be successful."
Afzaal Pirzada, P. Geo., a “Qualified Person” for the purposes of Canadian Securities
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.
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”,
“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
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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.