Lithium Corporation Fish Lake Valley Project Progress

Rhea-AI Summary

Lithium Corporation (LTUM) continues to expand its Fish Lake Valley claim block, now approximately 11,020 acres, enhancing its exploration for lithium-rich brine deposits. A recent magnetotelluric survey identified three new drill targets in the southern section, suggesting significant brine mineralization potential. Morella Corporation, the project's optionee, plans to initiate drilling in the second half of 2022. This strategic advancement may bolster the company's position in the energy storage market.

Positive

• Expansion of Fish Lake Valley claim block to approximately 11,020 acres.
• Identification of three promising drill targets from the magnetotelluric survey.
• Morella Corporation plans initial drilling in the second half of 2022.

Negative

• None.

ELKO, NV / ACCESSWIRE / May 3, 2022 / Lithium Corporation (OTCQB:LTUM) ("LTUM" or "the Company"), a North American company focused on energy metals for the growing energy storage sector and high-tech industries, is pleased to inform shareholders the Fish Lake Valley claim block has been expanded yet again, and the partially completed magnetotelluric (MT) survey identified three stand-alone drill targets in the more southerly areas of the claim block.

Recently, the Fish Lake Valley claim block increased to approximately 11,020 acres (4460 hectares) in order to cover basinal lows identified by the earlier passive seismic survey, which possibly could be traps for Li-in-brine mineralization. Additionally, the recent MT (magnetotelluric) survey, conducted on the southern portions of the claim block, identified 3 conductivity targets suggestive of brine mineralization at depth. Two of these targets are adjacent to previously identified structure that coincides with proximal Li-in-clay at surface. The third target is further east and has not been previously identified as an area of interest.

The Fish Lake Valley project optionee Morella Corporation indicated they are planning to commence an initial drill program here sometime in the second half of 2022.

About Lithium Corporation
Lithium Corporation is an exploration company based in Nevada devoted to the exploration for energy storage related resources throughout North America, and looking to capitalize on opportunities within the ever-expanding next generation energy storage markets. The Company has maintained a strategic alliance with Morella Corporation (the Company's single largest shareholder) for the past nine years, and has recently entered into a formal agreement with Morella with respect to an earn-in on the Company's Fish Lake Valley lithium-in-brine prospect in Esmeralda County, Nevada.

Website: www.lithiumcorporation.com

CONTACT:

Tom Lewis, CEO
Lithium Corporation
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 source version on accesswire.com:
https://www.accesswire.com/699824/Lithium-Corporation-Fish-Lake-Valley-Project-Progress

FAQ

What recent developments has Lithium Corporation (LTUM) announced for the Fish Lake Valley project?

Lithium Corporation announced the expansion of the Fish Lake Valley claim block to approximately 11,020 acres and identified three new drill targets from a recent magnetotelluric survey.

When does Morella Corporation plan to start drilling at the Fish Lake Valley project?

Morella Corporation plans to commence drilling in the second half of 2022.

How large is the Fish Lake Valley claim block after its recent expansion?

The Fish Lake Valley claim block has expanded to approximately 11,020 acres (4460 hectares).

What is the significance of the magnetotelluric survey conducted by Lithium Corporation?

The magnetotelluric survey identified three conductivity targets, suggesting significant brine mineralization potential at depth.