FOR IMMEDIATE RELEASE OTCQB: LTUM
Elko, NV – June 6, 2017 – Lithium Corporation (OTCQB:LTUM) (“LTUM” or “the Company”), a North American company focused on lithium and graphite for the growing energy storage sector, is pleased to announce that its permit application in support of the proposed trenching at the Company’s BC Sugar property has been approved by the British Columbia Ministry of Energy and Mines. LTUM is looking to ground truth frequency domain EM anomalies that resulted from a geophysical survey conducted in the area in 2015. Preliminary work consisting of access upgrade, prospecting, and a brief geophysical survey will be conducted shortly, with trenching to follow in the late summer 2017.
Trenching on the prospect in the area of the “Weather Station” showing in 2015 intercepted a broad zone of mineralization with a core area of almost 30 meters where weathering was as deep as 8 meters subsurface, and average grades were 2.73% graphitic carbon. After establishing that weathered, easily extractable graphite mineralization exists on the property; the Company is looking to determine which areas on the property are most prospective for the development of larger deposits of this style of mineralization.
Elsewhere, Lithium Corporation is continuing to work on its generative program for lithium-brine mineralization in Nevada, and is looking to commence work on its British Columbia Tantalum-Niobium properties shortly.
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 energy storage 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.