- International Lithium Corp. (ILC) has acquired an additional 14,000 hectares of claims around the Raleigh Lake lithium and rubidium project in Ontario
- The company intends to conduct an airborne geophysical survey as the first phase of exploration on the newly acquired claims
- So far, the company has only explored about five per cent of the Raleigh Lake property,
- International Lithium is in the process of exploring and investing in mineral properties in Argentina, Canada, and Ireland
- Shares in International Lithium Corp. (ILC) are steady, trading at $0.06 per share
International Lithium Corp. (ILC) has acquired an additional 14,000 hectares of claims around the Raleigh Lake lithium and rubidium project in Ontario.
This purchase brings the Raleigh Lake project area to just over 17,000 hectares in the Raleigh Lake Greenstone Belt.
The company’s exploration of the region determined that the surrounding greenstone belt is significantly underexplored and has the potential to host additional mineral deposits.
John Wisbey, Chairman and CEO of International Lithium, commented on the new claims.
“Expanding the area of our claims in the area significantly was a logical move,” he said. “The money we have raised this year will allow us to make good progress with further exploration and in being able to publish some initial minimum estimates of the size of resource.”
The company intends to conduct an airborne geophysical survey as the first phase of exploration on the newly acquired claims.
“Our drilling earlier this year in Zone 1 of the claims,” added Mr. Wisbey, “validated interesting quantities of lithium oxide in the areas we drilled, and commercially very interesting quantities of rubidium oxide.”
So far, the company has only explored about five per cent of the Raleigh Lake property, which contains significant quantities of rubidium and cesium in addition to lithium.
International Lithium is in the process of exploring and investing in mineral properties in Argentina, Canada, and Ireland.
The company believes that the 2020s will be the decade of battery metals, at a time that the world faces a significant turning point in the energy market.
Shares in International Lithium Corp. (ILC) are steady, trading at $0.06 per share as of 2:58 pm ET.
