Vancouver, British Columbia--(Newsfile Corp. - February 20, 2023) - Visit International Lithium Corp. (TSXV:ILC) at Booth #3206 at the Prospectors & Developers Association of Canada's (PDAC) Convention at the Metro Toronto Convention Centre (MTCC) from Sunday, March 5 to Wednesday, March 8, 2023.
Stop by our booth and learn about the Raleigh Lake lithium project's maiden lithium resource estimate and the upcoming plans for a preliminary economic study that considers the benefits of the excellent infrastructure that already exists at the Raleigh Lake project.
Located near Ignace, Ontario, the Raleigh Lake project consists of 48,500 hectares (485 square kilometres) of adjoining mineral claims 100% owned by ILC. It is not subject to any encumbrances and is royalty free. It is located less than 20 kilometers directly west of the Township of Ignace, Ontario. It distinguishes itself from other lithium projects in Canada by being very well situated near to major public infrastructure; the Trans-Canada Highway, with direct access to Thunder Bay on Lake Superior, is less than six kilometers north of the project as is the mainline of the Canadian Pacific Railway, natural gas pipelines, and the hydro power line junction at Raleigh Lake.
About PDAC
PDAC 2023: The World's Premier Mineral Exploration & Mining Convention is the leading event for people, companies and organizations connected to mineral exploration.
This annual convention in Toronto, Canada is known for attracting up to 30,000 attendees from over 130+ countries for its educational programming, networking events, outstanding business opportunities and fun. Since it began in 1932, the PDAC Convention has grown in size, stature and influence. Today, it is the event of choice for the world's mineral industry hosting more than 1,100 exhibitors and 2,500 investors.
For more information and/or to register for the conference please visit: https://www.pdac.ca/convention/attend/registration.
We look forward to seeing you there.
About International Lithium Corp.
International Lithium Corp. believes 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. In addition, we have seen the clear and increasingly urgent wish by the USA and Canada to safeguard their supplies of critical battery metals and to become more self-sufficient. Our Canadian projects are strategic in that respect.
Our key mission in the next 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. We have announced separately that we regard Zimbabwe as an important strategic target market for ILC, and we hope to be able to make announcements over the next few weeks and months.
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 and the Mavis Lake project in Canada in January 2022, the Board of the Company considers that ILC is now well placed in that respect with a strong net cash position.
The Company's interests in various projects now consists of the following, and in addition the Company continues to seek other opportunities:
| Name |
Location |
Area
(Hectares) |
Current
Ownership Percentage |
Future Ownership percentage if options exercised or work
carried out |
Operator or JV
Partner |
| Raleigh Lake |
Ontario |
48,500 |
100% |
100% |
ILC |
| Wolf Ridge |
Ontario |
5,700 |
0% |
100% |
ILC |
| Avalonia |
Ireland |
29,200 |
45% |
21% |
Ganfeng Lithium |
| Mavis Lake |
Ontario |
2,600 |
0% |
0%
(carries an extra earn-in payment of CAD $1.4M if resource targets met) |
Critical Resources Ltd
|
Forgan Lake &
Lucky Lake |
Ontario |
< 500 |
0% |
1.5% Net Smelter
Royalty |
Ultra Lithium Inc.
|
The Company's primary strategic focus at this point is on the Raleigh Lake lithium and rubidium project in Canada and on identifying additional properties in Canada and Zimbabwe.
The Raleigh Lake project consists of 48,500 hectares (485 square kilometres) of mineral claims in Ontario and is ILC's most significant project in Canada. The exploration results there so far, which are on only about 8% 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.
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.ca
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 Wolf Ridge 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 Company's projects, increased value of shareholder investments, and assumptions about ethical behaviour by our joint venture partners or third party operators of 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 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/154714
