Lithium Corporation Receives San Emidio Drill Permit Approval
March 04 2014 - 9:00AM
Business Wire
Lithium Corporation (OTCQB: LTUM) (the "Company", or “Lithco”)
is pleased to announce that it has recently received approval from
the Bureau of Land Management for its application to amend its
permit on its San Emidio Lithium property.
The Company intends to drill up to three deeper lithium brine
tests in an area on the San Emidio playa where lithium enriched
brines have been encountered at shallower depths. Drilling will
occur in the area of a lithium-in-brine anomaly outlined by two
drilling programs in 2012. This anomaly is approximately 3 miles (5
kilometers) long, and 0.6 miles (1 kilometer) wide at its widest
point. The peak value seen within the anomaly is 23.7 mg/l lithium,
which is 10 to 20 times background levels seen outside the anomaly.
The Company believes that the playa at San Emidio may be conducive
to the formation of a “Silver Peak” style lithium brine deposit.
Past drilling may indicate that the anomaly occurs at or near the
intersection of several faults that may have created the structural
setting necessary for the formation of a lithium-in-brine deposit
at depth.
The Company is currently negotiating with drilling contractors,
and ground conditions permitting, the Company intends to begin
drilling this prospect in the second quarter 2014. Lithium
Corporation is looking forward to 2012, and has plans to further
explore its Fish Lake Valley, and BC Sugar prospects as well as
continuing with its generative exploration program.
For further information please contact Andy Dewey at Lithium
Corporation at (775) 410-2206 or via email at info@lithiumcorporation.com
About Lithium Corporation
Lithium Corporation is an exploration company based in Nevada
devoted to the exploration for new lithium resources within the
state of Nevada, and graphite in British Columbia. The Company
currently explores with an eye to develop potentially economic
lithium-enriched brine fields, or flake graphite deposits intending
to capitalize on opportunities within the ever expanding
Lithium-Ion battery market. Lithium Corporation maintains a
strategic alliance with Altura Mining, an ASX listed coal producer
who expects to begin producing Iron Ore from the Mt Webber property
in Western Australia. Additionally Altura is currently searching
for off-take contracts for its 100% owned world-class Pilgangoora
lithium pegmatite property in Western Australia.
Notice Regarding Forward-Looking Statements
This current report contains "forward-looking statements," as
that term is defined in Section 27A of the United States Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Statements in this press release which are not purely historical
are forward-looking statements and include any statements regarding
beliefs, plans, expectations or intentions regarding the future,
including but not limited to, any mineralization, exploration and
development of our mineral properties, specifically in regards to
any future drilling programs.
Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated with
mineral exploration and difficulties associated with obtaining
financing on acceptable terms. We are not in control of minerals
prices and these could vary to make development uneconomic. These
forward-looking statements are made as of the date of this news
release, and we assume no obligation to update the forward-looking
statements, or to update the reasons why actual results could
differ from those projected in the forward-looking statements.
Although we believe that the beliefs, plans, expectations and
intentions contained in this press release are reasonable, there
can be no assurance that such beliefs, plans, expectations or
intentions will prove to be accurate. Investors should consult all
of the information set forth herein and should also refer to the
risk factors disclosure outlined in our most recent annual report
for our last fiscal year, our quarterly reports, and other periodic
reports filed from time-to-time with the Securities and Exchange
Commission.
Lithium CorporationAndy Dewey, 775-410-2206
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