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International Lithium Announces Measured + Indicated Resource of 6.85 Million Tonnes LCE at Mariana Lithium Brine Project
Vancouver, British Columbia--(Newsfile Corp. - July 8, 2021) - International Lithium Corp. (TS...
About this update from Ilc Critical Minerals Limited
[{"type":"text","content":"International Lithium Announces Measured + Indicated Resource of 6.85 Million Tonnes LCE at Mariana Lithium Brine ProjectVancouver, British Columbia--(Newsfile Corp. - July 8, 2021) - International Lithium Corp. (TSXV: ILC) (the \"Company\" or \"ILC\") is pleased to announce an update on its Mariana project in Argentina. As at December 31, 2020 the Company owned 11.243% of the joint venture company owning Mariana called Litio Minera Argentina (\"LMA\"), and this stake has since then diluted to around 10%, a number which is subject to audit. The Company currently enjoys a back in right to increase its stake in LMA by a further 10%. If exercised, this back in right would increase the Company's stake in LMA to around 20%. The remainder of the shares in LMA are owned by Mariana Lithium Co. Ltd. (\"MLC\"), a wholly owned subsidiary of Ganfeng Lithium. MLC has also since 2017 been the manager of the Mariana project. The Company currently has no representation on the board of LMA and participates on the management committee only to the extent of its percentage ownership in LMA.The Company has now received a 300 page report (the \"Report\") from strategic partner Ganfeng Lithium Co. Ltd., (\"GFL\") that contains an updated mineral resource estimate for the Mariana lithium brine project (the \"Project\") located in Salta, Argentina. This Report was not prepared for public NI 43-101 reporting standards, and therefore the Company is unable to disclose it fully. However, in the interests of investor transparency and to avoid selective disclosure, we are disclosing the following details from the Report which have already been disclosed in a news release issued by Ganfeng Lithium on 06 July 2021, and/or in a news release by the Salta Government in Argentina on 16 June, 2021. Highlights from the Report which are already in the public domain are as follows:The resource estimate contained in the Report, detailed in the table below, includes:6,854,000 tonnes of lithium carbonate (\"Li2CO3\") equivalent (LCE) in the Measured and Indicated Resource categories, an increase of 55% over the 2019 estimate of 4,410,000 tonnes of Measured and Indicated Resource (Company news release, February 6, 2020)an additional 1,267,000 tonnes of Li2CO3 in the Inferred Resource categorythese amount are also now stated as 7,863,000 tonnes of lithium chloride equivalen...