Business
International Lithium Announces Resignation of Director
Vancouver, British Columbia--(Newsfile Corp. - November 13, 2018) - International Lithium Corp...
About this update from Ilc Critical Minerals Limited
[{"type":"text","content":"International Lithium Announces Resignation of DirectorVancouver, British Columbia--(Newsfile Corp. - November 13, 2018) - International Lithium Corp. (TSXV: ILC) (the \"Company\" or \"ILC\"), announces the resignation of Kirill Klip from the Board of Directors, effective today. This follows a Board vote, following consultation with major shareholders, not to put Mr. Klip forward for re-election at the Company's AGM to be held on December 10, 2018.Mr. Klip was Chairman and CEO of the Company from January 2017 until he was removed by the board in March 2018. Previously he served as President of the Company and before that, Non-Executive Co-Chairman.The Board thanks Mr. Klip for his service to the Company over several years.About International Lithium Corp.International Lithium Corp. has a significant portfolio of projects, strong management, and a strategic partner and key investor, Jiangxi Ganfeng Lithium Co. Ltd., (\"Ganfeng Lithium\") a leading China-based lithium product manufacturer.The Company's primary strategic focus is now on the Mariana project in Argentina and on the Raleigh Lake project in Canada. The Company has a strategic stake in the Mariana lithium-potash brine project located within the renowned South American \"Lithium Belt\" that is the host to the vast majority of global lithium resources, reserves and production. The Mariana project strategically encompasses an entire mineral rich evaporite basin, totalling 160 square kilometres that ranks as one of the more prospective salars or 'salt lakes' in the region. Current ownership of the project is through a joint venture company, Litio Minera Argentina S. A., a private company registered in Argentina, owned 82.754% by Ganfeng Lithium and 17.246% by ILC. In addition, ILC has an option to acquire 10% in the Mariana project through a back-in right.The Raleigh Lake project, now consisting of 3,027 hectares of adjoining mineral claims in Ontario, is now regarded by ILC management as ILC's most significant project in Canada. It is 100% owned by ILC, is not subject to any encumbrances, and is royalty free. Complementing the Company's lithium brine project at Mariana and rare metal pegmatite property at Raleigh Lake, are interests in two other rare metal pegmatite properties in Ontario, Canada known as the Mavis Lake and Forgan Lake projects, and the Avalonia project in ...