Lithium Corporation Acquires BC Sugar Property
RENO, Nev.--(BUSINESS WIRE)-- Lithium Corporation (OTCBB: LTUM) (the "Company", or "Lithco") is pleased to announce that it has recently acquired a new Graphite (BC Sugar) prospect in the Shuswap area of British Columbia, in an under-explored area. In addition to the acquired claim, Lithco has also staked another four claims, to bring the total area to be explored by the Company to 3,405.77 acres (1,378.27 hectares). Although graphite has been identified locally in marbles, it has become apparent that graphite is also hosted here in quartz, biotite/mica gneisses, and also in calc-silicate gneisses. The host rocks at BC Sugar are similar to the host rocks in the area of the Crystal Graphite deposit 55 miles (90 kms) to the Southeast, where Lithium Corporation holds the Mt Heimdal block of claims.
The Company made an outright purchase of a 100% interest in the prospect in exchange for 250,000 shares of Lithco, and there are no further encumbrances or other obligations relating to the purchase.
Lithium Corporation has mobilized a field crew to the prospect to initiate geological mapping & prospecting immediately.
In addition to the BC Sugar property, the Company continues work on its Fish Lake Valley prospect, and its San Emidio property, and continues to generate and evaluate other prospects. The Company anticipates that the next round of drilling at Fish Lake Valley will commence in July, subject to contractor availability.
For further information please contact Andy Dewey at Lithium Corporation at (775) 410-2206 or via email at email@example.com
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. In keeping with its focus on producing materials for lithium ion battery manufacture, the Company now currently has two active graphite prospects in BC - the Mount Heimdal prospect & the BC Sugar property, and anticipates working on both this summer.
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 Canada Nevada
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