Lithium Corporation Expands Portfolio with New Fluorspar Property

Rhea-AI Summary

Lithium (LTUM) expands its portfolio by acquiring the Las Pilas claim block in British Columbia, Canada, with high potential for fluorspar mineralization. The property is strategically located near a past producing mine, indicating promising geological similarities and significant mineralization potential.

ELKO, NV / ACCESSWIRE / April 09, 2024 / Lithium Corporation (OTCQB:LTUM) ("LTUM" or "the Company"), a North American exploration mining company focused on energy metals for the growing energy storage sector and high-tech industries, is pleased to inform investors the Company recently expanded its portfolio with the addition of a newly staked property prospective for hosting fluorspar mineralization.

The Las Pilas claim block, staked by Lithium Corp. in February 2024, is located in the Greenwood Mining Division in south central British Columbia, Canada. The approximately 5,178 acre (2095.54 hectare) property lies roughly three kilometers from the past producing Rock Candy Fluorspar mine. The mine produced around 51,500 tonnes of ore with an average grade of 68% CaF2, 22% SiO2 between 1918 and 1929. It closed during the Great Depression and never reopened. Another 60,000 tonnes of probable ore is estimated contained in the previously mined workings. While fluorite epithermal vein mineralization is known to extend from this area more than a kilometer north to Fluorine Lake, no modern work has been conducted to expand the size of the deposit.

Lithium Corporation's claim block was staked on the basis of similar geology, stream sediment and water geochemistry as seen in the vicinity of the Rock Candy Mine. The highest fluorine value in the general area (750 ppm) was collected from a stream that drains northern portions of the Company's block. This is believed to be a strong indicator that similar or better mineralization occurs in the general area. The Company is excited about the potential of this prospective property, and anticipates commencing geochemical and geological surveys here within the month.

The US Government classifies fluorine, and its source mineral fluorspar, as critical and ‘essential to national security and economic prosperity'. Fluorinated compounds have a growing role in advancing clean energy technology through their use in electrolyte salts, binders, and separator coatings in lithium-ion batteries. The presence of fluorinated additives imparts critical benefits to lithium-ion batteries including significantly improving thermal stability of the electrolyte and the related safety performance of the battery. A relationship between fluorinated additives and improved performance of lithium-ion batteries in sub-zero temperatures has also been demonstrated. Leading battery industry market intelligence firm Benchmark Minerals reports, "fluorspar demand from the lithium ion battery sector is expected to exceed 1.6 million tonnes by 2030".

Critical Mineral status includes fluorspar in targeted efforts by Government to facilitate and expand domestic mining, production, processing, and recycling in North America. Currently, 100% of US fluorspar consumption is satisfied by imports. China has a commanding lead in global fluorspar supply with 65% of world mine production.

Learn more about Lithium Corporation's complete portfolio of lithium, graphite, titanium/rare earth elements and fluorspar prospects:
https://lithiumcorporation.com/projects/

About Lithium Corporation
Lithium Corporation is a Nevada based mineral exploration company devoted to exploring for energy storage related resources throughout North America. The Company is one of only a handful of Project Generators in the critical minerals space in North America. Lithium Corporation's dual operational focus covers exploration activities on several lithium prospects in Nevada, USA, as well as titanium, rare earth elements, graphite and fluorspar properties in British Columbia, Canada. Both Nevada and British Columbia are worldclass mining jurisdictions.

Lithium Corporation concentrates its exploration expertise on the energy metals supply chain to help secure a sustainable future through renewable energy. The Company's newly staked fluorspar prospect is evidence of Lithium Corporation's dynamic approach to maintaining an evolving portfolio growing through new prospects and broadening mineral scope. In Nevada, Lithium Corporation's Fish Lake Valley prospect is in the immediate vicinity of the only large-scale producing lithium-mine in the United States.

On behalf of the Board of Directors
"Tom Lewis"
Tom Lewis,
President & CEO

Website: www.lithiumcorporation.com

Contact Info:
Tom Lewis, CEO
775-410-5287
info@lithiumcorporation.com

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.

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 Corporation (OTC-LTUM) 1031 Railroad St. Ste 102B Elko NV 89801 (775) 410-5287 www.lithiumcorporation.com

SOURCE: Lithium Corporation

View the original press release on accesswire.com

FAQ

What is the recent expansion in Lithium 's portfolio mentioned in the press release?

Lithium recently acquired the Las Pilas claim block in British Columbia, Canada, known for its potential for hosting fluorspar mineralization.

Where is the Las Pilas claim block located?

The Las Pilas claim block is located in the Greenwood Mining Division in south central British Columbia, Canada.

What is the historical production data of the Rock Candy Fluorspar mine near the Las Pilas claim block?

The Rock Candy Fluorspar mine produced approximately 51,500 tonnes of ore with an average grade of 68% CaF2, 22% SiO2 between 1918 and 1929.

What indicators led Lithium to stake the Las Pilas claim block?

Lithium staked the claim block based on similar geology, stream sediment, and water geochemistry as observed near the Rock Candy Mine, with high fluorine values suggesting significant mineralization potential.

Why is the Company excited about the newly acquired property?

The Company is excited about the Las Pilas claim block due to its geological similarities to the past producing Rock Candy Mine, indicating potential for valuable fluorspar mineralization.

What is the significance of the stream with the highest fluorine value in the general area of the claim block?

The stream with the highest fluorine value (750 ppm) in the general area of the claim block is a strong indicator of potential mineralization in the vicinity, enhancing the prospectivity of the property.