Lithium Corporation (OTCQB:LTUM) (“LTUM” or “the Company”), a North American company focused on energy metals for the growing energy storage sector, and high tech industries announced October 26, 2017, that it has recently excavated a “mini bulk” sample at the Company’s BC Sugar flake graphite prospect in British Columbia. This sample has been submitted to SGS Lakefield’s laboratory in Burnaby BC.
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 how amenable this material is to processing, and what the size distribution and other properties of these graphite flakes are. Typically larger, flat flakes that are purer tend to command a better price than those that are smaller, somewhat bent, and/or contain inclusions or impurities. This work is anticipated to take up to two months to complete, and will be summarized by a short report from the lab.
Elsewhere in British Columbia, Lithium Corporation has ceased work on the Bormal option properties, and is currently awaiting final assay results from these exciting new Rare Earth Element/Tantalum-Niobium prospects. These results will include further assays from a zone discovered in July of this year where initial assays indicated Total Rare Earth Element (TREE) content was up to 0.75%.
About Lithium Corporation
Lithium Corporation is an exploration company based in Nevada devoted to the exploration for energy storage related resources throughout North America, and 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.
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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.