International Lithium Reports on 2019 Raleigh Lake UAV Magnetic Survey Results
NEWS RELEASE
International Lithium Reports on 2019 Raleigh Lake UAV
Magnetic Survey Results
Vancouver, B.C. October 1, 2019: International Lithium Corp. (the “Company” or “ILC”) (TSXV:
ILC) is pleased to announce the receipt of the final results from an unman ned aerial vehicle
magnetometer (“UAV-MAG”) survey designed to collect high-resolution magnetic field data over
the Raleigh Lake project area. The resulting magnetic images confirm that a geologic body with
elevated magnetic response, previously interpreted to be a gabbroic intrusive hosting the lithium
bearing pegmatites, continues onto the adjacent group of claims acquired by ILC in 2018.
The 2019 UAV-MAG survey was conducted by Pioneer Aerial Surveys Ltd., a subsidiary of Global
UAV Technologies Ltd. It covered a total of just under 500 line -kilometres using a 40 metre line
spacing. The data were merged with the 2016 UAV-MAG survey which covered an additional 189
line-kilometres for almost 700 line-kilomtres of continuously profiled magnetic data recorded at an
approximate ground clearance of 50 metres.
A map showing a gridded image of the merged data sets is given in Figure 1. The magnetic body
interpreted to be the gabbroic host to the pegmatites is clearly visible in the eastern-central portion
of the map. It measures approximately 3 kilometres by 1 kilometre which is comparable in size to
the gabbroic rocks hosting the mineralized pegmatites at the Tanco mine.
The Two-mica granite is coarsely mapped in at the south-western extent of the survey area. It is
thought to be the parental magma source for the spodumene bearing pegmatites at Raleigh Lake.
It is located between four and six kilometres from the gabbro indicating that the gabbro is the
optimal distance from the magmatic source body for fractionation to favor the crystallization of
spodumene, a lithium rich mineral (Figure 2).
Several regional structures can be interpreted from the magnetic image shown in Figure 1. Some
of these strucures transcend from the Two -mica granite to the Raleigh Lake gabbro. The
structures cut the gabbro at its northern terminus, in the vicinity of the historic drilling, and in the
central (thickest) portion of the body. No drill holes have tested the main gabbro body and all the
historic drill holes at the terminus have intersected spodumene bearing pegmatites that dip gently
southeasterly and flatten as they intrude the edge of the gabbro. There is a striking resemblence
to the emplacement style of mineralized pegmatites at Tanco making the Raleigh Lake gabbro a
highly prospective target.
The Company is planning to investigate these interpretations with a proposed 2 ,000 metre drill
program, focusing on stepping out from the known mineralization both along strike to the
southwest (toward the Two-mica granite) and down dip into the gabbroic body.
1030 West Georgia Street, Suite 1910
Vancouver, British Columbia
V6E 2Y3, Canada
T: +1-604-449-6520
www.internationallithium.com
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Figure 1. Total magnetic intensity image from the Raleigh Lake UAV -MAG surveys. Regional
structures can be interpreted emanating from the Two -mica granite to the gabbro which is hosting
the mineralized pegmatite.
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Figure 2. Schematic section of a zoned fertile granite -pegmatite system (Cern y, 1989). Note the
tendancy for pegmatites to form along structural corridors.
John Wisbey, Chairman and CEO of International Lithium Corp. stated, “We are delighted that
the magnetometer survey at Raleigh Lake reinforces our belief that the geology is very promising.
With an increasing awareness in Canada and the USA of the need for North Amer ican self
sufficiency in lithium and other battery metals, we are also very pleased that the mineral rights
remain wholly owned by International Lithium Corp. with no royalty or encumbrance over the
property. The surrounding infrastructure is excellent with immediate access to the Trans Canada
Highway, electricity and rail services to Lake Superior and the industrial heartland of North
America. This remains a project that our board place a very high strategic value on.”
Afzaal Pirzada, P. Geo., a Qualified Person as defined by NI 43-101 and a consultant to the
Company, has reviewed and approved the technical content in this news release.
About International Lithium Corp.
International Lithium Corp. has a significant portfolio of proj ects, strong management, and a
strategic partner and key investor, Jiangxi Ganfeng Lithium Co. Ltd., (“Ganfeng Lithium”) a leading
China-based lithium product manufacturer.
The Company’s primary strategic focus is now on the Mariana project in Argentina and on the
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Raleigh Lake project in Canada.
The Company has a strategic stake in the Mariana lithium-potash brine project located within the
renowned South American “Lithium Belt” that is the host to the vast majori ty of global lithium
resources, reserves and production. The Mariana project strategically encompasses an entire
mineral rich evaporite basin, tota lling 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, now
owned 85.8% by Ganfeng Lithium and 14.2% by ILC. In addition, ILC has an option to acquire
10% in the Mariana project through a back-in right.
The Raleigh Lake project, now consisting of 3,027 hectares of adjoining mineral claims in
Ontario, is now regarded by ILC management as ILC’s most significant project in Canada. It
is 100% owned by ILC, is not subject to any encumbrances, and is royalty free.
Complementing the Company’s lithium brine project at Mariana and 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 now 51% Pioneer Resources Limited (ASX:PIO,
“Pioneer”) and 49% ILC. In addition, ILC owns a 1.5% NSR on Mavis Lake. Pioneer 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% Pioneer and 20% ILC.
The Forgan Lake p roject will, upon Ultra Lithium meeting its contractual requirements
pursuant to its agreement with ILC, become 100% owned by Ultra Lithium (TSXV: ULI), and
ILC will retain a 1.5% NSR on Forgan Lake.
The ownership of the Avalonia project is currently 55% Ganfeng Lithum and 45% ILC.
Ganfeng Lithium has an option to earn an additional 24% by either incurring CAD $10 million
expenditures on exploration activities or delivering a positive feasibility study on the project,
at which time the ownership will be 79% Ganfeng Lithum and 21% ILC.
With the increasing demand for high tech rechargeable batteries used in electric vehicles and
electrical storage as well as portable electronics, lithium has been designa ted “the new oil”,
and is a key part of a “green tech”, sustainable economy. By positioning itself with solid
strategic partners and projects with significant resource potential, ILC aims to be one of the
lithium and battery metals resource developers of choice for investors and to continue to build
value for its shareholders.
International Lithium Corp.’s mission is to find, explore and develop projects that have the
potential to become world class lithium and rare metal deposits. A key goal is to become a
well funded company to turn that aspiration into reality.
On behalf of the Company,
Anthony Kovacs
Director and COO
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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 contains 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 the
preliminary economic assessment of the Mariana Joint Venture Project, timing of publication of
the PEA technical report, anticipated production rates, the timing and /or anticipated results of
drilling on the Raleigh Lake or Mavis Lake projects, the expectation of feasibility studies, lithium
recoveries, modeling of capital and operating costs, results of studies utilizing membrane
technology at the Mariana Project, budgeted expenditures and planned exploration work on the
Avalonia J oint Venture, satisfactory completion of the sale of mineral rights at Forgan Lake ,
satisfactory completion of the purchase of additional mineral rights at Raleigh Lake , increased
value of shareholder investments, and continued agreement between the Company and Jiangxi
Ganfeng Lithium Co. Ltd. regarding the Company’s percentage interest in the Mariana project.
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 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.