Canada Lithium Announces Project Update
TORONTO, Oct. 4, 2013 /CNW Telbec/ - Canada Lithium Corp. ("Canada Lithium" or the "Company") (TSX: CLQ) (U.S. OTC: CLQMF) today announced that commissioning of its open-pit mine and processing plant near Val d'Or, Québec, is proceeding as per the revised schedule. Mining operations continued at a reduced level and approximately 100,000 tonnes of ore remain on stockpile at the crusher. The mining operation is scheduled to resume at the end of the month.
Crushing, grinding and concentrator circuits are fully operational and ramp-up to design capacity could be achieved quickly as the hydro-metallurgical commissioning advances. The kiln is operating at its design temperature of approximately 1,000 degrees and the kiln throughput is being systematically increased over 50%.
The commissioning of the hydro-metallurgical circuit is ongoing, including the sulphate, neutralisation, lithium carbonate and purification circuits. The previously planned upgrades to the carbon dioxide process have been completed and lithium carbonate product currently in the system will be processed through the new circuit. Through the commissioning phase, the Company continues to monitor working capital levels. Product shipments to Tewoo in China are scheduled to resume at the end of October.
About Canada Lithium Corp.
The Company holds a 100% interest in the Québec Lithium Project near Val d'Or, the geographical heart of the Québec mining industry. It has completed construction and is in the commissioning phase of an open-pit mine and on-site processing plant with estimated capacity to produce approximately 20,000 tonnes of battery-grade lithium carbonate annually. Metallurgical tests have produced battery-grade lithium carbonate samples. A five-year off-take agreement for a minimum of 12,000 tonnes per year was recently signed with Tewoo-ERDC, one of China's largest commodities traders. A second off-take for up to 5,000 tonnes per year was recently signed with Marubeni Corp., a major Japanese commodities trading company. Lithium carbonate is used in lithium-ion batteries that power consumer electronics (laptops, tablets, etc.), power-grid storage facilities and electric and hybrid vehicles. For more information regarding the Company, please refer to the Company's public filings available at www.sedar.com and www.canadalithium.com including, in particular, the Company's Management Discussion and Analysis for the year ended December 31, 2012 and its Annual Information Form for the year ended December 31, 2012 and the Financials and MD&A for the three-month and six-month periods ended June 30, 2013. The Company trades under the symbol CLQ on the TSX and on the U.S. OTCQX under the symbol CLQMF.