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International Lithium and Ganfeng Lithium Move to Advance the Blackstairs Lithium Project, Ireland
(via Thenewswire.ca) Vancouver, B.C. / TNW-ACCESSWIRE / July 30, 2014 / International ...
About this update from Ilc Critical Minerals Limited
[{"type":"text","content":"International Lithium and Ganfeng Lithium Move to Advance the Blackstairs Lithium Project, Ireland(via Thenewswire.ca)\n\n \nVancouver, B.C. / TNW-ACCESSWIRE / July 30, 2014 / International Lithium Corp. (the \"Company\" or \"ILC\") (TSX VENTURE:ILC.V) is pleased to announce that further to the Company's news release dated March 19, 2014 (Mar19_2014_NewsRelease) Blackstairs Lithium Ltd. (\"BLL\"), a company incorporated under the laws of Ireland, has issued shares to GFL International Co., Ltd. (\"Ganfeng Lithium\" or \"GFL\") and International Lithium Corp. in the amounts of 51% to GFL and 49% to ILC. BLL holds all rights to the prospecting licences that comprise the Blackstairs Lithium project located in Leinster, south-east Ireland.\n\n \n \nPursuant to the joint venture agreement between ILC and GFL, BLL will act as the joint venture company and carry out all activities required to advance the project. GFL has agreed to fund an initial program of EUREUR1,600,000 (approximately CAN$2,300,000). The first cash advance of the multi-phase program of EUREUR500,000 (approximately CAN$725,000) will be used to conduct property scale geological mapping and geochemical surveys in preparation for drill target selection. The newly acquired results will be compiled with existing data and known mineralized occurrences to prioritize exploratory drilling and resource delineation drilling in subsequent phases. ILC is initially appointed manager of the project and will receive a management fee of 10% of the exploration expenditures.\n\n \n \nMr. Kirill Klip, President, International Lithium Corp. comments, \"We are excited to spearhead this international collaboration and program that sets a precedent for sourcing metals that are imperative to the advancement of mobile devices, electric vehicles and alternative energy. The demand for Lithium is continually on the rise and there are shortage concerns which could impede on the growth of the green technology sector worldwide. The Irish government has taken this risk very seriously and pledged to facilitate the advancement of lithium production as part of an initiative to improve strategic metal supply chains. Together with Ganfeng Lithium, ILC has the opportunity to be part of this development and we are optimistic that we have a new potential source for the lithium battery supply chain\".\n\n \n...