VANCOUVER, British Columbia, Feb. 9, 2012 /PRNewswire/ -- International Lithium Corp. ("ILC" or the "Company") (TSXV: ILC) is pleased to announce the successful completion of the Phase 1 resource delineation reverse circulation drill program at the Company's 100% Mariana lithium-potash brine project in the province of Salta, northwestern Argentina.
- Phase 1 resource delineation drilling completed at the Mariana lithium-potash brine project;
- Extensive, brine hosting sand rich layers intersected below halite horizon;
- Brine flow measurements recorded during drilling increased markedly below halite horizon;
- Brine densities ranging from 1,190 to 1,298 g/L reflect persistent, significant salt content; and
- Analytical results pending.
"We are very encouraged by the granular stratigraphic units intersected, which in conjunction with the brine density measurements and flow observations, indicate the potential for a significant brine aquifer at the Mariana lithium-potash project," states Mike Sieb, President of the Company.
Mariana Drill Program
The Company has successfully completed reverse circulation drilling on the Phase 1 Resource Delineation program at the Company's 100% Mariana lithium-potash brine project. Four (4) widely spaced drill holes (totaling 444 metres), were positioned approximately 5 km apart to characterize the subsurface strata and brine across several previously identified geological and geochemical domains within the 10 x 15 km salar (salt lake) basin. In addition, the objective was to add to the geological model of the salar and determine the aquifer potential of the stratigraphy encountered.
As expected, the upper stratigraphic interval was primarily halite varying in depth from 18 to 32 metres in the peripheral areas (hole MA12-04 in the south, MA12-05 in the north and MA12-06 in the western region of the salar) and 66 metres depth in hole MA12-07 proximal to the center of the salar. Below this predominantly halite layer an extensive mixed evaporite layer approximately 32-52 meters thick, consisting of greater than 60% fine to coarse sand, was encountered in the three peripheral holes. Below the evaporite sequences in all holes an extensive medium to coarse grained, dark coloured, basaltic sand interval was encountered. Brine flow measurements recorded during drilling increased markedly below the halite sequence throughout the sand rich layers.
Unconsolidated stratigraphic units with a significant granular or sand component possess physical characteristics that allow them to maintain a higher degree of permeability and porosity at greater depths than halite (salt) units. Consequently, they represent a potential aquifer for hosting brine at depth and are an important target in the lithium-potash brine exploration model. The measured brine densities, ranging from 1,190 to 1,298 g/L, reflect a considerable quantity of dissolved salts, approximately 10 times the salinity of seawater. All brine samples have been delivered for analysis. Results are pending and when received and reviewed will be released in entirety.
Drilling to competent basement rock was not achieved with all drill holes remaining in unconsolidated basin material to depth. Hole MA12-07 in the central region of the salar intersected a predominantly halite unit, similar to evaporite sequences observed near surface, at 118 metres depth and to end-of-hole at 122 metres.
Subsequent to completion and analysis of results, a more extensive Phase 2 drill program will be planned that will focus on the priority areas of the salar identified through the current program. The objective of the Phase 2 drill program will be to continue to delineate and characterize both the geochemistry and hydrogeology of the salar in support of an Inferred Resource estimate targeted for late 2012.
Reverse circulation drilling services were provided by Compania Argentina de Perforaciones S.A (CAPSA) of Salta, Argentina.
About the Mariana Project
The Mariana lithium brine project in Argentina, covering an expansive 160 square kilometres, revealed highly compelling geochemistry from a preliminary investigation that returned average grades of 440 mg/L lithium and 12,700 mg/L potassium. The potassium levels were unexpected and represent one of the highest grades comparative to any of the neighbouring salars outside of the world class operation on the Atacama salar in Chile.
John Harrop, P.Geo, is the company's Qualified Person on the project as required under NI 43-101 and has reviewed the technical information contained in this press release.
ABOUT INTERNATIONAL LITHIUM CORP.
International Lithium Corp. is an international rare element metals ("REM") exploration company with an outstanding portfolio of projects, strong management ownership, robust financial support and a strategic partner, Jiangxi Ganfeng Lithium Co. Ltd., a leading China based lithium product manufacturer, as a keystone investor.
ILC currently has 9 active REM projects, well balanced between lithium brines in Argentina and Nevada and hard-rock pegmatites in Canada and Ireland. The Company's primary focus is the Mariana lithium brine project, a salar or 'salt lake', covering 160 square kilometres and strategically encompassing the entire basin. Mariana is located in the renowned South American 'Lithium Belt' centred on the junction of Argentina, Bolivia and Chile that is host to the vast majority of global lithium resources, reserves and production. The Mariana lithium brine project ranks as one of the more prospective salars in the region.
Complementing the Company's lithium brine projects are the REM pegmatite properties. The key characteristics shared by the hard-rock REM projects are their limited past exploration, excellent accessibility, limited assaying for rare metals, clear potential for additional exploration to add project value and development potential to meet the global technological growth in demand for the REM suite of elements.
International Lithium Corp.'s mandate is to increase shareholder value through aggressive advancement of its core projects and to source joint venture partners to expand the scope and diversify risk of its exploration effort.
For further information on this press release, on the Company or other Company projects, please visit our website at www.internationallithium.com.
On behalf of the Board,
President – International Lithium Corp.
Neither the 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. Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. News release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
Stock Symbol: ILC:TSXV
Shares CUSIP: #459820 10 6
Warrants Symbol: ILC.WT
Warrant CUSIP: #459820 11 4
620 - 650 West Georgia Street
Vancouver, British Columbia
V6B 4N9, Canada
Voice: (604) 687-7551
Fax: (604) 687-4670
SOURCE International Lithium Corp.