Lithium Corporation Exploration Update Spring 2024
Lithium (OTCQB: LTUM) has provided an update on its exploration activities. The company recently added 3,957 acres to its Las Pilas claim block in southern British Columbia, bringing the total to approximately 8,775 acres. Geochemical analysis indicates potential fluorspar mineralization, a critical component for lithium-ion batteries. The company plans to intensify exploration efforts in the coming months. Leveraging AI and advanced analytical tools, Lithium continues its systematic work on critical minerals, primarily focused in Nevada's Great Basin.
- Increased total holdings at Las Pilas to 8,775 acres.
- Geochemical work indicates strong potential for fluorspar mineralization.
- Fluorspar is classified as a 'critical mineral' important for lithium-ion batteries.
- Plans to ramp up exploration efforts in the summer months.
- Employs advanced AI and analytical tools for exploration.
- No confirmed commercial fluorspar deposits yet.
- Additional expenses anticipated for intensified exploration efforts.
- Dependence on the speculative success of geochemical indicators.
Elko, Nevada--(Newsfile Corp. - June 6, 2024) - Lithium Corporation (OTCQB: LTUM) ("LTUM" or "the Company"), a North American mineral exploration company focused on energy metals for the growing energy storage sector and high-tech industries, is pleased to update investors on exploration activities undertaken by the Company over the past several months.
In a press release dated April 09, 2024, Lithium Corporation first introduced the newly staked Las Pilas claim block prospective for hosting fluorspar mineralization. Las Pilas is an approximately 5,178 acre (2,095.54 hectare) property proximal to the past producing Rock Candy fluorspar mine in the Greenwood Mining Division, in southern British Columbia, Canada. Since that time, the Company staked an additional 3,957 acres in the area for total holdings of approximately 8,775 acres (3,551 hectares). Geochemical work has been undertaken to confirm and expand on previous regional work done in the area that identified up to 750 ppb fluorine in streams emanating from portions of the Company's block. This is believed to be a strong indicator of similar or better mineralization in the general area, comparative to that seen at the Rock Candy mine. Lithium Corporation eagerly anticipates further exploring the Las Pilas property and plans to ramp up efforts here in the coming summer months.
Considered essential to electrification and a low-carbon future, fluorine and its source material fluorspar are classified as 'critical minerals' by Governments in both the United States and Canada. Fluorinated compounds have an increasing role in next generation lithium-ion batteries. Their presence significantly improves thermal stability along with safety and have been demonstrated to improve battery performance in sub-zero temperatures. 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".
To-date, Lithium Corporation has been performing ongoing systematic generative work on critical minerals focused mainly on Nevada's Great Basin, but occasionally looking further afield when opportunities present. The Company employs a proprietary geochemical database, augmented by public domain and private geophysical and geological data, along with Artificial Intelligence (AI) to generate prospective targets worthy of follow-up. Field work commenced on the first targets identified, with personnel aided by the newest in handheld analytical equipment (XRF & LIBS) in the evaluation of these targets. Going forward, the Company is working to determine how advanced levels of AI may best assist exploration work.
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
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/211818
FAQ
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