ELKO, NV / ACCESSWIRE / September 9, 2022 / 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, is pleased to announce the Company has retained KLM Geoscience, LLC of Las Vegas to conduct an initial Phase I Controlled Source Audio-frequency Magnetotelluric (CSAMT) Survey on the Company's 4,728 acre (1,441 hectare) San Emidio lithium-in-brine prospect in Washoe County, Nevada.
The property had been under a Joint Venture agreement since September 2021, however our Joint Venture partner recently indicated they want to focus their efforts elsewhere, and hence let the agreement lapse. While we are disappointed the arrangement is being discontinued, the Company views this as a great opportunity to move this exciting property forward on the continuum towards development.
Lithium Corporation identified the San Emidio lithium-in-brine property in the early 2010's through geochemical prospecting, ultimately seeing values as high as 80 mg/L lithium (Li) in near-surface brines. The Company conducted a gravity geophysical survey and followed that up with direct push drilling in 2012 that outlined a lithium-in-brine anomaly at moderate depths (up to 124'/38 m subsurface), returning values as high as 23 mg/L Li. Lithium Corporation permitted the property for a deeper drill program but focus on other properties, an earlier option agreement, and two subsequent downturns in the price of Lithium precluded initiating the drill program. In order to return the property back on track, it was decided a CSAMT survey would be a perfect complement to our existing database and a great aid in determining what sites will be permitted for drilling once the survey is complete, and the data compiled and interpreted. KLM, the contractor, indicated they will commence the survey in early November.
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 has maintained a strategic alliance with Morella Corporation (the Company's single largest shareholder) for the past nine years, and apart from the above agreement has also entered into a formal agreement with Morella with respect to earn-ins on the Company's Fish Lake Valley lithium-in-brine prospect in Esmeralda County, and the North Big Smoky lithium-in-brine prospect in Nye County, Nevada.
Website: www.lithiumcorporation.com.
Contact Info
Tom Lewis, CEO
775-410-5287
info@lithiumcorporation.com
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.
Lithium Corporation (OTC-LTUM) 1031 Railroad St. Ste 102B Elko NV 89801 (775) 410-5287 www.lithiumcorporation.com
SOURCE: Lithium Corp.
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