Lithium Corporation Receives San Emidio Results
RENO, Nev.--(BUSINESS WIRE)-- Lithium Corporation (OTCBB: LTUM) (the "Company", or "Lithco") is pleased to announce that it has received the analytical results from the most recent round of drilling on its San Emidio property in Washoe County, Nevada.
Lithium Corporation tested an area of the property where prior exploration by the Company discovered elevated lithium levels in subsurface brines. During the recent program a total of 261 meters (856 feet) was drilled at 8 discrete sites. The deepest hole was 48.76 meters (160 feet), and the shallowest hole that produced brine was 27.43 meters (90 feet). The average depth of the seven hole program was 27.43 meters (107 feet). The program better defined a lithium-in-brine anomaly that was discovered in early 2012. This anomaly is approximately one kilometer (0.6 miles) wide at its widest point by more than 5 kilometers (3 miles) long. The peak value seen within the anomaly is 23.7 mg/l lithium, which is 10 to 20 times background levels seen outside the anomaly. The Company believes that the playa at San Emidio may be conducive to the formation of a "Silver Peak" style lithium brine deposit, and the recent drilling indicates that the anomaly occurs at or near the intersection of several faults that may have provided the structural setting necessary for the formation of a buried lithium-in-brine deposit.
Lithium Corporation is compiling all data, and intends to amend its permits with the Bureau of Land Management, and to commence a deeper drilling program here as soon as feasible in 2013.
In addition to drilling the San Emidio prospect, Lithium Corporation continues to generate and evaluate other prospects, and recently finished drilling at its Fish Lake Valley prospect in Esmeralda County Nevada. All samples from this program have been delivered to Inspectorate Laboratories facility in Vancouver, B.C., and the Company is awaiting results.
For further information please contact Andy Dewey at Lithium Corporation at (775) 410-2206 or via email at firstname.lastname@example.org.
About Lithium Corporation
Lithium Corporation is an exploration company based in Nevada devoted to the exploration for new lithium resources within the Great Basin. The Company explores and develops potentially economic lithium-enriched brine fields, with an eye to becoming a long-term producer of this increasingly strategic and economically important commodity. John E. Hiner, Lithium Corporation's Vice President of Geology who is Licensed Geologist in the State of Washington, and Registered Member of SME, a qualified person as defined by National Instrument 43-101 has reviewed and approved the information provided in this news release.
Notice Regarding Forward-Looking Statements
This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, any mineralization, exploration and development of our mineral properties, specifically in regards to any future drilling programs.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of minerals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Andy Dewey, 775-410-2206
KEYWORDS: United States North America Nevada
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