FOR IMMEDIATE RELEASE OTCQB: LTUM
Elko, Nevada – October 3, 2016 – Lithium Corporation [OTCQB – LTUM] “the Company”, is pleased to announce that it has jointly staked with Idaho North Resources Inc. [OTC – IDAH] a block of claims on the Gabbs Valley playa in Mineral County Nevada totaling approximately 4,790 acres. The property is 54 kilometers to the Northeast of Hawthorne, the county seat of Mineral County, Nevada. Infrastructure is excellent in the area, with roads and power nearby.
The geologic setting of the Big Lithium prospect is quite similar to that of Albemarle’s Silver Peak lithium brine operation in Clayton Valley, Nevada. The property is located in the Walker Lane structural belt within the Great Basin. It is in close proximity to the Rawhide caldera, a center of Miocene era extrusive volcanism, of generally more lithium rich felsic volcanics. Geothermal activity is present along the periphery of the playa as exhibited by the Rawhide Hot Springs located just outside the claim boundary.
Exploratory sediment sampling of the playa was conducted in 2010 & 2011, and several samples taken within the claim area returned anomalous values in Lithium. The highest value of 720 ppm Li was taken in the vicinity of the interpreted junction of structural features that are similar to those that give rise to the subsurface lithium-in-brine deposit currently being exploited at Silver Peak in Esmeralda County, 135 kilometers to the southeast.
For further information with regard to Lithium Corporation, or our properties please contact Tom Lewis or Brian Goss at (775) 410-2206 or via email at info@lithiumcorporation.com
About Lithium Corporation
Lithium Corporation is an exploration company based in Nevada devoted to the exploration for energy storage related resources throughout North America, looking to capitalize on opportunities within the ever expanding next generation battery markets. The Company maintains a strategic alliance with Altura Mining, an ASX listed natural resource development company that is currently developing its 100% owned world-class Pilgangoora lithium pegmatite property in Western Australia.
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.
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.