- International Lithium Corp. (ILC) outlines plans for upcoming exploration work at its wholly-owned Raleigh Lake project in Ontario
- The first work of the company’s 2022 exploration program will commence at the end of February
- The program is designed in two stages with the first stage focused on drill targets identified in Zones 1-3 where permits already exist
- Zone 5 is believed to be a high grade source for lithium, tantalum, caesium, and rubidium and Zone 6 contains the highest caesium assays
- International Lithium Corp. (ILC) is down 4.17 per cent trading at $0.11 per share as of 2:59 p.m. EST
International Lithium Corp. (ILC) has announced plans for upcoming exploration work at its wholly-owned Raleigh Lake project in Ontario.
The company’s 2022 exploration program will consist of drilling of up to 5,000 metres, beginning at the end of February.
Stage one work will also include some infill drilling at pegmatites 1 and 3 to define the mineralized zones previously encountered.
Stage two will then carry on after additional permitting is approved for Zone 1 and the newly discovered targets in Zones 5 and 6.
Zone 5 is believed to be the source of rocks for the lithium, tantalum, cesium, and rubidium mineralization on the property.
The recently completed survey confirmed Zone 5 to be a high-priority target area for drilling.
Zone 6 is an entirely new target area that was identified from the same survey and contains the highest cesium assays reported.
The company is also planning to conduct an airborne geophysical survey in the first half of the year over the entire 48,500-hectare Raleigh Lake project area.
John Wisbey, Chairman and CEO of International Lithium Corp. commented,
“International Lithium Corp. is now well funded with around CAD$ 13million of net cash and marketable securities… we have the resources to conduct a significant exploration program at Raleigh Lake and adjoining claims in the next year and beyond, and in addition that we have sufficient cash to invest in other projects.”
International Lithium Corp. (ILC) is down 4.17 per cent trading at $0.11 per share as of 2:59 p.m. EST.