International Lithium Corp. and Pioneer Resources Discover Lost Pegmatite, Increase Claim Area by 80% and Execute Option Agreement at the Raleigh Lithium Pegmatite Project, Ontario, Canada

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[{"type":"text","content":"International Lithium Corp. and Pioneer Resources Discover Lost Pegmatite, Increase Claim Area by 80% and Execute Option Agreement at the Raleigh Lithium Pegmatite Project, Ontario, CanadaVANCOUVER, BC / ACCESSWIRE / July 26, 2016 / International Lithium Corp. (TSXV: ILC) (the \"Company\" or \"ILC\") is pleased to announce that strategic partner Pioneer Resources Limited (\"Pioneer\") (ASX: PIO) has completed their due diligence and formally entered into an Option Agreement to advance through exploration the Company's Raleigh lithium pegmatite project in Ontario, Canada (\"Project\"). In addition, the companies have increased the size of the project to 809 hectares (2,000 acres) through staking.\nKey Highlights: \n\n Preliminary reconnaissance discovers pegmatite obscured by beaver dam; \n Grab sample of host rock adjacent to beaver dam returns highest degree of lithium enrichment reported in the region to date representing intense rare-metals mineralizing system; \n Increase project size by 80% through staking to encompass extensive highly anomalous rare metals' trends known to host high-grade lithium spodumene pegmatites. \n Raleigh Lithium Project Option Agreement executed with Pioneer; and \n Pioneer may earn an initial 51% interest in the Project by expending CAN$1.25 million on exploration activities within three years;\n\nRaleigh Lithium Pegmatite Project\nThe Raleigh Project is situated 7 kilometres south of the Trans-Canada Highway, 60 kilometres southeast from the Company's Mavis Project, 80 kilometres southeast from the town of Dryden, Ontario and approximately 240 kilometres northwest of Thunder Bay. Four unpatented mining claims totalling 368 hectares were recently staked increasing the Project area to 809 hectares. The expanded claim boundaries now cover an extensive zone exhibiting multiple intensely anomalous bands known to host high-grade lithium pegmatites.\nWhen rare-metal pegmatites are emplaced, the host rocks adjacent to the pegmatite body are enriched by the associated fluids forming an observable rare-metals' halo. Normally the rare-metal alteration halo is in the meter scale, but the pegmatite belt at Raleigh, similar to the Company's nearby Mavis project, exhibit some of the most extensive lithium anomalies delineated to date in Ontario.\nOn a recent reconnaissance of the project by ILC and Pioneer repr...

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