International Lithium Update on Mariana Lithium Brine Project, Argentina
International Lithium Update on Mariana Lithium Brine
Project, Argentina
Vancouver, B.C. August 28, 2017: International Lithium Corp. (the “ Company” or
“ILC”) (TSX VENTURE: ILC) is pleased to announce , with JV partner Ganfeng Lithium
Co. Ltd., (“GFL”) and together the “Companies”, an update for the Mariana lithium brine
project (the “Project”) located in Salta, Argentina.
Mariana Lithium JV Update
Further to the Company’s news release dated April 10 , 2017, announcing a maiden
resource estimate for the Mariana lithium brine project , the following activities have
been ongoing at the project site as the project advan ces toward the commencement of
preliminary economic and pre-feasibility studies.
On April 25, 2017, the Company was informed by manager of the Mariana Joint Venture
that three large evaporation ponds measuring 14 x 14 metres have been constructed at
site and filled to 30 centimetres depth with raw brine from Salar de Llullaillaco to
conduct large scale evaporation tests and begin the development of a natural
evaporation concentration process for the brine. Two smaller ponds that are to be used
for the lat er stages of the brine concentration were also constructed at the site. A field
laboratory and l iming plant are currently under construction with the field laboratory
expected to be completed by the end of August or early September and the liming plant
targeted for mid-September.
A series of snow storms in the property region in late May and early June, 2017
seriously impacted access to the site and throughout the district. Access to the camp
facilities was limited to 4x4 pickup trucks during this period . Large truck access was
restored to the site by July 17, 2017.
Natural evaporation concentration field t ests continued through June and July with
recorded evaporation rates reported to be low due to the cooler temperatures and the
introduction of freshwater into the ponds by snowfall events.
Environmental impact studies were completed in the period and a draft report is
expected by the end of August.
Upcoming work consists of geoph ysical surveys, including electromagnetic surveys to
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highlight possible freshwater sources and a second phase of gravity surveying to
provide a more complete map of the depth of the basin.
Pumping test well MA17 -20PW (Figure 1) was drilled to an approximate depth of 232
metres before being placed on hiatus in May due to the winter storms . It will now be
completed to its final depth of 256 metres. Pump test results will be reported as they
become available.
Figure 1: Well location map at Salar de Llullaillaco.
Community relations continue to form an integral part of the site wor k. Additionally, ILC
is informed that the vetting process for the first feasibility study to be conducted on the
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project is nearing completion with the goal to begin preliminary economic studies later
this year.
Afzaal Pirzada, Geological Consultant of the Company, and a “Qualified Person” for the
purposes of National Instrument 43 -101 - Standards of Disclosure for Mineral Projects ,
has reviewed and approved the scientific and technical information contained in this
news release.
Other News
The Company also announces that d irectors, Xiaoshen Wang and David Shen have
resigned from the board of directors.
"I would like to thank Xiaoshen and David for their positive contribution s to International
Lithium. We are pleased to have completed a maiden resource estimate that includes
both an indicated and inferred resource estimate, published in a technical report and
available at SEDAR http://www.sedar.com. As we no longer have a p otential conflict of
interest, we are looking forward to working with Xiaoshen and David and building our JV
operations with Ganfeng on an arms ’ length basis and in the most efficient way, for the
benefit of both companies ," stated Kirill Klip , Executive Chairman of International
Lithium.
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 or forward -looking statements in this news release include: the timing and
anticipated results of environmental impact studies and p ump tests, timing of
preliminary economic studies on the Mariana project, the expectation of feasibility
studies, timing of completion of a laboratory and plant, and the Company’s continued
ownership in the Mariana, Mavis and Raleigh projects. 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 Managemen t’s Discussion and
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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 al l 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 signific ant 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.