- International Lithium reports the company has finished the maiden drilling program at its Raleigh Lake Lithium Project
- The Raleigh Lake project is located near Ignace, Ontario
- The program finished a total of 1,504 metres of NQ core drilling covering eight holes
- The project is royalty-free and 100-per-cent-owned by International Lithium
- International Lithium is unchanged on the day, with shares trading at C$0.085 at 11:50 am ET
International Lithium reports the company has finished the maiden drilling program at its Raleigh Lake Lithium Project.
The Raleigh Lake project is located near Ignace, Ontario. The program finished a total of 1,504 metres of NQ core drilling covering eight holes to test the continuity of spodumene-bearing pegmatites and their associated lithium, tantalum and cesium mineralization down-dip and along strike from outcrop and previous operators’ drilling.
The Raleigh Lake project is made up of a total of 3,027 hectares and hosts a number of outcropping pegmatite bodies. The project is also royalty-free and 100-per-cent-owned by International Lithium. The recent drilling focused on what the company refers to as Zone 1, an area of approximately one square kilometre that hosts Pegmatites 1 and 3.
“This was an encouraging drilling program for ILC with what appear to be good and solid results in Raleigh Lake Zone 1 that build significantly on our confidence of the project’s potential. If the chemical analysis received over the next few weeks is favourable, that may well be sufficient to warrant follow-up with some preliminary economic analyses prior to further drilling in Zone 1. The board also believes that investment in further drilling in Zones 2 to 5 is highly warranted and remains hopeful, based on earlier geological analysis, that it could deliver even greater potential than we are defining at Zone 1,” said International Lithium Chairman and CEO John Wisbey.
Seven of the company’s eight widely dispersed holes, covering an area approximately 600 by 300 metres, intersected pegmatite. The core has been logged and cut with samples submitted for chemical analysis.
Assay results are expected by mid-May.
International Lithium is unchanged on the day, with shares trading at C$0.085 at 11:50 am ET.