- International Lithium (ILC) announced complete assay results from the Phase 2 drilling program at its Raleigh Lake Lithium project
- Phase 2 took place between May 12 and June 30, 2022
- Roughly 4,200 meters were drilled in 26 holes
- Six holes were targeted in Zone 2 and 20 holes in Zone 1
- In total, 8 holes have been drilled in Zone 2 and 28 in Zone 1 so far in 2022
- Shares of International Lithium are steady, trading at C$0.07 at 11:50 a.m. EDT
International Lithium (ILC) announced complete assay results from the Phase 2 drilling program at its Raleigh Lake Lithium project in Ontario.
The company said that Phase 2 drilling took place between May 12 and June 30, with roughly 4,200 meters drilled between 26 holes.
Six holes targeted Zone 2, and 20 holes were targeted within Zone 1, bringing eight holes drilled in Zone 2 and 28 in Zone 1 over the course of 2022 so far.
At least 20 of the 26 holes drilled during Phase 2 were cored in Zone 1 and tested the up-dip and eastern extent of Pegmatites 1 and 3. The Zone 1 pegmatites have been defined by drilling and surface exposures across an area spanning over 600 meters by 400 meters for Pegmatite 1.
Meanwhile, six holes from Phase 2 were cored into Zone 2, targeting structures that were interpreted from airborne magnetic data and are supported by lithogeochemical surveys that show elevated lithium concentrations.
A third phase of drilling is now being prepared by the company, where an additional 1,500 meters of drilling will test portions of the up-dip component to Pegmatite 1. Roughly 1,000 meters will also test a range of shallow targets identified in Zones 5 and 6.
John Wisbey, CEO of International Lithium, said the company remains on track to produce a maiden resource estimate for the project by the end of the year.
Shares of International Lithium are steady, trading at C$0.07 at 11:50 a.m. EDT.