Tuesday, November 29, 2011

ILC.v Commencement of Drilling soon! ILC.v ORL.to RM.v LAC.to LI.v CLQ.v

Months after the much fan-fared public listing with Ganfeng Lithium - the prominent lithium junior, International Lithium (ILC:TSXV) is finally slated to commence their exploration program in Argentina.

After a relatively quiet period in the lithium space - analysts are starting to pay attention again with the likes of Rodinia quickly achieving a quick Net Present Value (NPV) of over $900 million (NPV estimate of $964-million). Yet the company is trading at only $30 million market cap!

ILC is very much the same way, with a even higher trajectory of growth. See Value Realization curve above, at Feasibility ILC can potentially realize 10 times the current market cap, based on comparables in the sector such as Lithium One.

Orocobre (ORL) is slated to start production in 2012 and Lithium Americas (LAC) has a quarter of their lithium brine pumps producing already.

News release on ILC below - we are long ILC from the TNR Gold spinoff.

Vancouver B.C.: International Lithium Corp. (“ILC” or the “Company”) is pleased to announce a Reverse Circulation drill rig has been secured for the forthcoming drill program at the Mariana lithium brine project in the province of Salta, northwestern Argentina.

Key Highlights:

· Mariana Phase 1 resource delineation drill program commencing within two weeks;

· Objective is to characterize the subsurface brine across different regions within the salar;

· Extensive Phase 2 drill program planned for early next year; and

· Inferred Resource estimate targeted for Q3-2012.

“We are anticipating not only the commencement of drilling within the next two weeks, but the first real step in quantifying the subsurface potential of the Mariana salar” Mike Sieb, President of International Lithium Corp. states. “This Phase 1 resource delineation drill program will provide a wide spaced characterization of the subsurface brine in preparation for an extensive follow-up program early next year.”

Mariana Drill Program

The Company will commence a 4-6 hole Phase 1 drill program on the Mariana lithium brine property in Argentina within the next two weeks. The goals include a) geochemical characterization of the subsurface brine across different regions within the basin, b) identification of the stratigraphy for a geological model of the salar, and c) identification and characterization of the aquifer potential of the basement of the salar. The Company’s intent is to utilize this drill program as a first step towards a resource classification of the brine. A more extensive drill program is planned for early next year that will focus on the priority areas of the salar identified through the current program. The objective of the subsequent Phase 2 drill program will be to continue to delineate, characterize and add to the confidence level of the geochemistry of the host aquifer; with an Inferred Resource estimate targeted for Q3-2012.

The site preparation for the Phase 1 drill program at Mariana is complete and a drill rig has been secured. Through April to June 2011 a 20-person fully operational camp was erected at site, a 25 kilometre drill road network was constructed across the salar and 8 drill platforms were prepared.

About the Mariana Project

The Mariana lithium brine project in Argentina, covering an expansive 160 square kilometres, revealed highly compelling geochemistry from a preliminary investigation that returned average grades of 440 mg/L lithium and 12,700 mg/L potassium. The potassium levels were unexpected and represent one of the highest grades comparative to any of the neighbouring salars outside of the world class operation on the Atacama salar in Chile.

John Harrop, P.Geo, is the company's Qualified Person on the project as required under NI 43-101 and has reviewed the technical information contained in this press release.


International Lithium Corp. is an international rare element metals (“REM”) exploration company with an outstanding portfolio of projects, strong management ownership, robust financial support and a strategic partner, Jiangxi Ganfeng Lithium Co. Ltd., a leading China based lithium product manufacturer, as a keystone investor.

ILC currently has 9 active REM projects, well balanced between lithium brines in Argentina and Nevada and hard-rock pegmatites in Canada and Ireland. The Company’s primary focus is the Mariana lithium brine project, a salar or ‘salt lake’, covering 160 square kilometres and strategically encompassing the entire basin. Mariana is located in the renowned South American ‘Lithium Belt’ centred on the junction of Argentina, Bolivia and Chile that is host to the vast majority of global lithium resources, reserves and production. The Mariana lithium brine project ranks as one of the more prospective salars in the region.

Complementing the Company’s lithium brine projects are the REM pegmatite properties. The key characteristics shared by the hard-rock REM projects are their limited past exploration, excellent accessibility, limited assaying for rare metals, clear potential for additional exploration to add project value and development potential to meet the global technological growth in demand for the REM suite of elements.

International Lithium Corp.’s mandate is to increase shareholder value through aggressive advancement of its core projects and to source joint venture partners to expand the scope and diversify risk of its exploration effort.

On behalf of the Board,

Mike Sieb

President – International Lithium Corp