Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Canada Lithium Intersects Higher-Grade Lithium and Confirms Depth Potential of Quebec Lithium Project
Toronto, January 20, 2010 -- Canada Lithium Corp. (TSXV: CLQ) announced today that it has intersected higher-grade lithium mineralization including 3.08% Li2O over 8.8 metres and 1.33% Li2O over 19 metres at its Quebec Lithium Project located 60 km north of Val d'Or, Quebec. The drilling has also increased the potential for additional mineralization at depth.
The higher grade intercepts were from the initial holes of a 28-hole, 7,500-metre drill program undertaken to confirm, and potentially expand, the deposit's historical but non-NI 43-101 compliant resource of 15 million tonnes grading 1.14% Li2O.
"The initial assay results demonstrate a very successful program and a strong indication that the current drilling grades may be higher than the historical grades. There is close spacial correlation between the historical drilling and the new twinned holes but more significantly, mineralization was found in holes drilled deeper than those documented in mine records," said Canada Lithium President and CEO Peter Secker.
The Company's geological consultant, Caracle Creek International Consulting Inc. (CCIC), is currently preparing a resource estimate compliant with NI 43-101 requirements. An initial Independent Technical Report produced by CCIC has been filed and is available on SEDAR or at Canada Lithium's website: www.canadalithium.com. This report includes an estimated potential tonnage for the mine area of 29 - 30 million tonnes grading 1.1 - 1.2% Li2O. The potential quantity and grade is conceptual in nature. At this time there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in discovery of a mineral resource.
"We anticipate CCIC will complete an NI 43-101 compliant resource estimate in February, which puts the Company on target to finalize a prefeasibility study later this quarter," Mr. Secker said.
Highlights of the drill program assay results received to date (6 holes complete) include the following:
Hole No. From (metres) To (metres) Intercept Width1 (metres) % Li2O
S09-007 91.68 103.48 11.80 1.47
S09-008 56.25 75.25 19.00 1.33
S09-009 98.02 106.80 8.78 3.08
S09-010 105.39 120.26 14.87 1.75
S09-010 226.60 236.75 10.15 1.53
S09-010 312.30 323.18 10.88 1.25
S09-030 87.78 94.75 6.97 1.30
1 Intercepts have not been corrected for true thickness as interpretation is in progress, but were drilled typically at 45-60 degree inclination across dykes dipping 60 degrees to near vertical.
The latest exploration program also included a 20-tonne surface bulk sample and 500 metres of metallurgical core for processing by SGS Lakefield in the first stage of the previously announced pilot plant metallurgical tests scheduled to begin in February.
Please note that in reference to the historical resource above and the potential tonnage (conceptual target) estimate announced in November, 2009, a Qualified Person has not yet done sufficient work to classify either estimate as current mineral resources and the historical estimate should not be relied upon.
Quality Assurance and Quality Control, Qualified Person
The assay analyses performed during CLQ's drill programs are subject to a formal quality assurance and quality control (QAQC) program. Diamond drill core is logged and sampled on site with sample transport by the Company to SGS Laboratories Ltd. (Toronto), an independent accredited laboratory, for assaying. Duplicate check assay analyses are being carried out by ALS Laboratoy Group (Vancouver), a laboratory that is also independent of the Company. Internal check assays are in progress. Standard and blank analyses for the drill holes S09-007-011 and S09-030 have passed the QAQC checks. Duplicate results are pending.
The Independent Technical Report was prepared by Dr. Michelle Stone, P.Geo., and Dr. Julie Selway, P.Geo., senior geologists with CCIC. The drill program was designed by Dr. Stone and executed by Dr. Tania Ilieva, P.Geo., under the supervision of Dr. Stone. Dr. Stone is an independent Qualified Person as defined by NI 43-101 and has read and approved the contents of this news release.
Mitch Lavery, P.Geo., is the Qualified Person for the Quebec Lithium Project for Canada Lithium Corp. in accordance with NI 43-101. Mr. Lavery has read and approved the contents of this news release.
Canada Lithium Corp. is a Canadian-based resource and exploration company trading under the symbol CLQ on the TSX-V. The Company is in the midst of finalizing a prefeasibility study on the Quebec Lithium Project, which will include environmental, metallurgical, geological and engineering studies. It has an agreement with Japanese metals trading firm, Mitsui and Co. Ltd., to market a portion of Canada Lithium Corp.'s product in China, Korea and Japan. Metallurgical tests have produced battery-grade lithium from deposit samples.
For more information please contact:
Peter Secker, President and CEO (416) 361-2821
Olav Svela, Director, Investor Relations (416) 361-2821 or email osvela@canadalithium.com
Dan Symons, Renmark Financial Communications Inc. (514) 939-3989 or email dsymons@renmarkfinancial.com
Please visit the Canada Lithium website at www.canadalithium.com.
Corporate Office: 401 Bay St., Suite 2010, P.O. Box 118, Toronto, Ont. M5H 2Y4
http://www.canadalithium.com/s/NewsReleases.asp?ReportID=381351&_Type=News-Releases&_Title=Canada-Lithium-Intersects-Higher-Grade-Lithium-and-Confirms-Depth-Potential...
Canada Lithium Launches Pilot-Scale Metallurgical Test; Undertakes Review of Open-Pit Potential
Toronto, November 23, 2009 - Canada Lithium Corp. (TSXV: CLQ) announced today that a 20-tonne bulk sample comprised of drill core obtained during the current 7,000-metre drill program and from bulk pegmatite material taken from the former mine site has been sent for metallurgical pilot plant test work in the first stage of a Bankable Feasibility Study for the Quebec Lithium Project.
The 20-tonne bulk sample has been sent to SGS Lakefield, which will commence the first stage of pilot plant metallurgical testwork to produce a battery-grade lithium carbonate product. As previously reported, bench-scale metallurgical tests at SGS successfully produced battery-grade 99.6% lithium carbonate (Li2CO3) using standard flow-sheet processes.
"This pilot-scale test work is the next phase of metallurgical tests for our project development, following a successful first stage," said Canada Lithium President and CEO Peter Secker. "Results from this pilot metallurgical test will be used for the feasibility study next year. The material will also provide additional samples under the terms of our marketing agreement with Mitsui in Japan."
In addition, the Company has commissioned engineering firm BBA Inc. to determine the potential for an open-pit operation rather than an underground mine. The analysis was initiated following the announcement in early November that the conceptual target had doubled to 29-30 million tonnes grading 1.1%-1.2% Li2O. (The potential quantity and grade is conceptual in nature and there has been insufficient exploration to define a mineral resource. It is uncertain if further exploration will result in the discovery of a mineral resource. This estimate cannot be considered current and reliable.)
"Our initial concept was a ramp-access underground operation, but with the geological studies undertaken to date, we have commissioned our engineering consultants BBA Inc. to model the open-pit potential," Mr. Secker said.
The digitizing and modeling of all historical data from the 400 holes drilled when the mine was operating up to the mid-1960s was undertaken by Caracle Creek International Consulting (CCIC) this past fall. This work culminated in the new conceptual target estimate of 29-30 million tonnes, well above the historical NI 43-101 non-compliant resource of 15 million tonnes grading 1.4% Li2O.The CCIC-supervised 7,000-metre drill program is now 70% complete and initial assays are expected in the near future. The majority of the drill program is focused on twinning historical drill holes in order to prepare a 43-101 compliant resource estimate. The pre-feasibility study currently under way is on track for completion in the first quarter of 2010.
The historical estimate of 15 million tonnes at 1.14% Li2O is not compliant with NI-43-101 due to the fact that the original core samples from the historic drilling programs were lost when the mine closed down in 1965 and the assay data cannot be verified. A Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources; Canada Lithium Corp. is not treating the historical estimate as current mineral resources; and the historical estimate should not be relied upon.
The conceptual tonnage exploration target was prepared by Michelle Stone, P.Geo., a Senior Geologist with CCIC. Ms. Stone is an independent Qualified Person as defined by NI 43-101. Ms. Stone has read and approved the contents of this news release.
Mitch Lavery, P.Geo., is the Qualified Person for the Quebec Lithium Project in accordance with NI 43-101. Mr. Lavery has read and approved the contents of this news release.
As noted above, test samples were processed by SGS Lakefield. Gary Pearse, B.Sc Geol Engineering, M.Sc Econ., is the designated QP within the meaning of the term in NI 43-101. Mr. Pearse has reviewed and approves the content of this release.
Canada Lithium Corp. is a Canadian-based resource and exploration company trading under the symbol CLQ on the TSX-V. The Company has initiated a prefeasibility study on the Quebec Lithium Project, which will include environmental, metallurgical, geological and engineering studies. It has an agreement with Japanese metals trading firm, Mitsui and Co. Ltd., to market a portion of Canada Lithium Corp.'s product in China, Korea and Japan. Metallurgical tests have produced battery-grade lithium from deposit samples.
For more information please contact:
Peter Secker, President and CEO (416) 361-2821
Olav Svela, Director, Investor Relations (416) 361-2821 or email osvela@canadalithium.com
Dan Symons, Renmark Financial Communications Inc. (514) 939-3989 or email dsymons@renmarkfinancial.com
Please visit our new updated Canada Lithium website at www.canadalithium.com.
Corporate Office: 401 Bay St., Suite 2010, P.O. Box 118, Toronto, Ont. M5H 2Y4
http://www.canadalithium.com/s/NewsReleases.asp?ReportID=373165&_Type=News-Releases&_Title=Canada-Lithium-Launches-Pilot-Scale-Metallurgical-Test-Undertakes-Review-of...
Canada Lithium Focuses on Advanced Quebec Project; Relinquishes Interest in Grassroots Nevada Brines Play
Toronto, November 5, 2009 - Canada Lithium Corp. (TSXV: CLQ) announced today that it has relinquished its interest in the Nevada brines joint venture with Gold Summit Corporation (TSXV: GSM) to focus exclusively on the Company's Quebec Lithium Project near Val d'Or, Quebec. Canada Lithium held a 75% interest while Gold Summit held the remaining 25%.
"Strategically, we can't justify devoting resources, both manpower and money, to a grassroots brines prospect in distant Nevada when we have an advanced project perhaps only two years from construction startup in our own backyard," said Canada Lithium President and CEO Peter Secker.
The decision follows the completion of a single test hole drilled in October and the recently announced conceptual tonnage increase in Quebec. (For the latest news on the Quebec Project, please see press release dated Nov. 2, 2009.)
Canada Lithium Corp. is a Canadian-based resource and exploration company trading under the symbol CLQ on the TSX-V. The Company has initiated a prefeasibility study on the Quebec Lithium Project, which will include environmental, metallurgical, geological and engineering studies. It has an agreement with Japanese metals trading firm, Mitsui and Co. Ltd., to market a portion of Canada Lithium Corp.'s product in China, Korea and Japan. Metallurgical tests have produced battery-grade lithium from deposit samples.
For more information please contact:
Peter Secker, President and CEO (416) 361-2821
Olav Svela, Director, Investor Relations (416) 361-2821 or email osvela@canadalithium.com
Dan Symons, Renmark Financial Communications Inc. (514) 939-3989 or email dsymons@renmarkfinancial.com
Please visit our new updated Canada Lithium website at www.canadalithium.com.
Corporate Office: 401 Bay St., Suite 2010, P.O. Box 118, Toronto, Ont. M5H 2Y4
http://www.canadalithium.com/s/NewsReleases.asp?ReportID=370062&_Type=News-Releases&_Title=Canada-Lithium-Focuses-on-Advanced-Quebec-Project-Relinquishes-Interest-in-...
Canada Lithium Doubles Conceptual Target Estimate To 29-30 Million Tonnes Grading 1.1%-1.2% Li2O
Toronto, November 2, 2009 - Canada Lithium Corp. (TSXV: CLQ) announced today that Caracle Creek International Consulting Inc. (CCIC) has completed the digitizing and modeling of all historical data from the former Quebec Lithium Mine located 60 km north of Val d'Or, Quebec.
The modeling by CCIC has increased the target estimate for the mine area to 29-30 million tonnes grading 1.1%-1.2% Li2O.
"We are extremely encouraged by the modeling for the project as it has doubled the 15 million tonnes of the historical estimate previously reported when the mine closed in the 1960s," said Peter Secker, President and CEO of Canada Lithium Corp.
"The modeling suggests that the Quebec Lithium Project can be developed into a lithium carbonate operation with a mine life in excess of 15 years," he noted.
In order to upgrade the conceptual estimate to a National Instrument 43-101 compliant, classifiable resource estimate, the Company recently commenced a 7,000-metre verification/delineation drill program at the Quebec Lithium site. This program will "twin" approximately 28 of the more than 400 historic surface and underground holes as well as drill a number of holes to approximately 500 metres vertical depth to demonstrate ore continuity at depth in the area of the existing mine workings.
Core from this drilling program will also be used to provide a bulk metallurgical sample for ongoing metallurgical testing. This work program is part of the pilot metallurgical test work that will be used for a Bankable Feasibility Study and also to deliver additional marketing samples to Mitsui in Japan.
The 29-30 million tonne potential tonnage estimate by CCIC was based on previous drill results that defined the approximate length, thickness, depth and grade of the historic estimate. This incorporated over 60 surface diamond drill holes, 340 underground drill holes and 21 underground stopes. A three-dimensional geological model was developed from this data to aid in deposit evaluation. The potential quantity and grade is conceptual in nature and there has been insufficient exploration to define a mineral resource. It is uncertain if further exploration will result in the discovery of a mineral resource.
As noted, the historical estimate outlined 15 million tonnes at 1.14% Li2O. This resource is not compliant with NI-43-101 due to the fact that the original core samples from the historic drilling programs were lost when the mine closed down in 1965 and the assay data cannot be verified. This resource estimate cannot, therefore, be considered current and reliable.
A technical report describing the potential tonnage estimate will be filed on SEDAR within 45 days of this release. It is expected that the NI-43-101-compliant resource estimate will be completed during the first quarter of 2010.
The potential tonnage exploration target was prepared by Michelle Stone, P.Geo., a Senior Geologist with CCIC. Ms. Stone is an independent Qualified Person as defined by NI 43-101. Ms. Stone has read and approved the contents of this news release.
Mitch Lavery, P.Geo., is the Qualified Person for the Quebec Lithium Project in accordance with NI 43-101. Mr. Lavery has read and approved the contents of this news release.
Canada Lithium Corp. is a Canadian-based resource and exploration company trading under the symbol CLQ on the TSX-V. The Company has initiated a prefeasibility study on the Quebec Lithium Project, which will include environmental, metallurgical, geological and engineering studies. It has an agreement with Japanese metals trading firm, Mitsui and Co. Ltd., to market a portion of Canada Lithium Corp.'s product in China, Korea and Japan. Metallurgical tests have produced battery-grade lithium from deposit samples.
For more information please contact:
Peter Secker, President and CEO (416) 361-2821
Olav Svela, Director, Investor Relations (416) 361-2821 or email osvela@canadalithium.com
Dan Symons, Renmark Financial Communications Inc. (514) 939-3989 or email dsymons@renmarkfinancial.com
Or visit our new updated Canada Lithium website at www.canadalithium.com.
Corporate Office: 401 Bay St., Suite 2010, Toronto, Ont. M5H 2Y4
http://www.canadalithium.com/s/NewsReleases.asp?ReportID=370061&_Type=News-Releases&_Title=Canada-Lithium-Doubles-Conceptual-Target-Estimate-To-29-30-Million-Tonnes-G...
found the answer i was looking for. it appears that nevada has become quite the lithium source.
do you know where the area of nevada the projects are located?
Canada Lithium produces 99.6% battery-grade lithium from test samples at Quebec Project
Canada Lithium Corp
CLQ /CLQMF
TORONTO, Sep. 29, 2009 (Canada NewsWire via COMTEX News Network) --
TSXV: CLQ / PINKSHEET: CLQMF
Canada Lithium Corp. (TSXV: CLQ) announced today that metallurgical tests of sample material from its Quebec Lithium Project have successfully produced battery-grade lithium carbonate using standard flow-sheet processes.
The test samples, processed by SGS Lakefield, were designed to achieve the standard 99% lithium carbonate; however, the program exceeded initial design criteria and actually achieved a grade of 99.6% Li2CO3 (lithium carbonate). Additional polishing is expected to produce a higher grade product.
"As an initial trial run with this material, we were cautiously optimistic that we might at best approach the 99.5% threshold for battery-grade lithium," Company President and CEO Peter Secker said. "So we're very pleased that we have exceeded the benchmark at this stage of the project using conventional processing techniques."
The samples were processed and analyzed in several batches and consistent results were achieved. The processed material will be shipped to Mitsui and Co. Limited in Japan. Mitsui is an international trading house that signed a marketing agreement with Canada Lithium in April 2009, granting Mitsui exclusive rights to market lithium (produced from Canada Lithium's Quebec Project) in Japan, Korea and China until April 2010. Mitsui retains an option to extend the agreement annually for six subsequent years.
As a result of this early success, Canada Lithium is working with SGS Lakefield to develop a pilot scale test, planned to commence in January 2010, to produce additional battery-grade material for pre-marketing purposes.
As noted above, test samples were processed by SGS Lakefield. Gary Pearse, B.Sc Geol Engineering, M.Sc Econ., is the designated QP within the meaning of the term in NI 43-101. Mr. Pearse has reviewed and approves the content of this release.
Canada Lithium Corp. is a Canadian-based resource and exploration company trading under the symbol CLQ on the TSX-V. The Company plans to develop a former lithium mine near Val d'Or, Que., which operated from 1955 to 1965. It hosts an historical resource (not compliant with NI 43-101) of 15 million tonnes grading 1.14% Li2O. Canada Lithium is also exploring the potential of several lithium brine deposits in Nevada.
<< Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. >>
Forward-looking Information
The statements made in this press release may contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial condition and other aspects of Canada Lithium Corp. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of Canada Lithium Corp. management as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the Company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the Company. Canada Lithium Corp. disclaims any obligation to update information contained in any forward-looking statement.
%SEDAR: 00007891E
SOURCE: Canada Lithium Corp.
Peter Secker, President and CEO, (416) 361-2821; Olav Svela, Director, Investor Relations, (416) 361-2821; Dan Symons, Renmark Financial Communications Inc. (514) 939-3989; Or visit the Canada Lithium website at www.canadalithium.com. (Please note, the website is undergoing an update and re-design.)
Copyright (C) 2009 CNW Group. All rights reserved.
CANADA LITHIUM ANNOUNCES CLOSING OF $15 MILLION BOUGHT DEAL PRIVATE PLACEMENT
Canada Lithium Corp. (TSXV: CLQ)(the "Company") is pleased to announce that it has closed its previously announced bought deal private placement with a syndicate of underwriters co-led by Cormark Securities Inc. and Blackmont Capital Inc. and including Northern Securities Inc., Byron Securities Limited and Primary Capital Inc. (the "Underwriters"). The Company issued an aggregate of 27,746,799 units ("Units") of the Company on a bought deal private placement basis at a price of $0.55 per Unit for aggregate gross proceeds of $15,260,739. Each Unit consists of one common share of the Company and one-half of one common share purchase warrant. Each whole warrant is exercisable for one common share at a price of $0.80 per share for a period of two years following closing.
The Company paid the Underwriters a cash commission of $915,644 and issued broker warrants to acquire up to 1,664,805 Units at a price of $0.55 per Unit for a period of 12 months following the closing date.
The net proceeds of the offering will be for continued exploration and development of the Quebec
Lithium Project and the Nevada brines and for general working capital purposes.
The securities issued pursuant to the placement are subject to a four-month hold period. The private placement is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange.
The securities described herein have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States unless registered under the Act or unless an
exemption from registration is available.
The Company also announces that it has granted an aggregate of 3,730,000 options to purchase common shares of the Company exercisable at a price of $0.55 per share for a period of five years, to certain directors, officers, consultants and employees of the Company. The common shares issuable upon exercise of the options are subject to a four month hold period from the original date of grant.
For further information, contact Peter Secker, President and Chief Executive Officer at (41...
or visit our web site at www.canadalithium.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources and reserves, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.
http://www.canadalithium.com/news_.php?url=http%3A%2F%2Fthenewswire.ca%2Freleases%2F420%3F
Quebec Lithium Project
Property Highlights - June 2008
Commodities: Lithium
Location: La Corne Township, 60 km north of Val d’D’Or, Quebec
Size of property: 12 claims, 405 hectares
Status: Scoping study & metallurgical testing
Ownership: 100% Canada Lithium
Acquisition and Planned Work
In May 2008, Canada Lithium obtained TSX Venture Exchange approval and closed
the transaction to acquire Quebec Lithium near Val D’Or, Quebec from IAMGOLD
Corporation ("IAMGOLD"). Canada Lithium Corp. has issued six million shares to
IAMGOLD and paid $350,000 in cash as well as IAMGOLD's costs to complete
the transaction.
Canada Lithium Corp. plans to commence an economic scoping study
metallurgical testing in summer 2008 to determine the viability of taking the
Quebec Lithium property to production. An additional systematic program of
exploration drilling followed by confirmation drilling to define and verify the extent
of the deposit and its resources is also planned.
Location
Quebec Lithium Property is located in the north-east corner of Lacorne Township,
approximately 38 km south-east of Amos, 15 km west of Barraute and 60 km
north of Val-d’Or, Quebec. The property consists of 12 contiguous claims
covering 404.69 hectares. Quebec is one of the top rated mining jurisdictions in
the world and electricity costs are amongst the lowest in North America.
Property Description and Previous Work
Quebec Lithium is a system of underground spodumene-rich dikes. The mine
was operated under the former Quebec Lithium Corporation as an underground
mine, surface concentration plant and refinery from 1955 to 1965, to produce
ceramic grade and chemical grade spodumene concentrates, lithium carbonate,
lithium hydroxide monohydrate as well as a small quantity of lithium chloride and
feldspar.
When mining operations were suspended, the proven ore reserve was stated to
be 15,612,300 tonnes at a grade of 1.14% Li2O calculated down to the 150 metre
level in the proven, probable and possible categories. The reserve was
calculated using an 85% recovery rate and a 7% dilution factor. Over a period of
10 years of operation, the ore hoisted from underground works averaged a grade
of 1.25% of LiO2 against the composed 1.13%, derived from geological sections.
Note: This resource calculation is considered historical and is not considered
National Instrument 43-101 compliant. In addition, the Company has not
completed sufficient work to classify this historical estimate as a current under
the guidelines set forth by the Canadian Institute of Mining and Metallurgy and
should not be relied upon. However, given the quality of the work completed, the
company believes the resource estimate to be relevant enough to base its
exploration programs.
Canada Lithium Enters Into Marketing Agreement With Japanese Trading House
Tue Apr 28, 2009 6:28pm EDT
TORONTO, ONTARIO, Apr 28 (MARKET WIRE) --
Canada Lithium Corp. (TSX VENTURE: CLQ) (the "Company") is pleased to
announce that it has entered into a marketing agreement with a large
Japanese trading house. The agreement gives the trading house the
exclusive marketing rights for Japan, Korea and China for one year, until
April 2010, for the lithium products from the Company's Quebec Lithium
Project. After one year, the trading house has the option to renew the
marketing right annually for up to six subsequent years. Canada Lithium
Corp. will commence shipping lithium carbonate samples to the trading
house in the second quarter of 2009.
The marketing agreement is instrumental in the advancement of the
Company's Quebec Lithium Project through feasibility. The trading house
is experienced in marketing and sales in these countries and will exert
its efforts to solicit and obtain orders for Canada Lithium Corp.
Canada Lithium Corp. recently announced that it has materially advanced
its lithium carbonate metallurgical process and has produced lithium
carbonate that is comparable to the battery market specifications that
are widely accepted by the industry. Canada Lithium's product
significantly exceeds specifications with respect to aluminum and iron
which are considered deleterious.
Canada Lithium Corp. is the 100% owner of the Quebec Lithium Project
located 60 km northwest of Val d'Or, Quebec. The project is a large
lithium spodumene deposit with excellent infrastructure and favourable
metallurgy.
Quebec Lithium was an underground mine, surface concentration plant and a
refinery from 1955 to 1965 which produced 272,000 tonnes of ceramic grade
and chemical grade spodumene concentrates, lithium carbonate, lithium
hydroxide monohydrate as well as a small quantity of lithium chloride and
feldspar. At the time of the suspension of mining operations the ore
reserve was 15 million tonnes at a grade of 1.14 % Li2O calculated down
to the 150m level. The actual recovered grade during the ten years of
production was 1.25% Li2O.
Canada Lithium Corp. is working in conjunction with SGS Lakefield
Research to complete metallurgical test-work for the production of
spodumene concentrate, lithium carbonate as well as high grades and
purities of lithium carbonate. Metallurgical processing test-work has
resulted in the production of a spodumene concentrate grading 7.17% Li2O
with an 80% recovery and production of lithium carbonate that is
comparable to the battery market specifications that are widely accepted
by the industry. The Company will continue to optimize its lithium
carbonate processing methodology and will start continuous process for
metallurgical purposes in the third quarter of 2009.
In conjunction with optimizing the metallurgical processing activity, the
Company is evaluating project economics including capital and operating
costs, as well as downstream market off-take and pricing. The most recent
industry forecast for lithium demand is a four-fold increase over ten
years from the 2007 market demand of 100,000 tonnes of lithium carbonate
equivalent (Li2CO3).
The previous reserve is being treated as a historical resource and is not
National Instrument 43-101 compliant as it was completed prior to the
implementation of these requirements. However, given the quality of the
work completed, and the fact that the operation was a going concern over
a decade, the Company believes the historical resource to be relevant and
reliable. In addition, a qualified person has not done sufficient work to
classify the historical resource as a current mineral resource and the
issuer is not treating the historical resource as current. Hence, the
historical resource should not be relied upon. Mitch Lavery (P.Geo), is
the Company's qualified person as required under NI 43-101 and has
reviewed the technical information contained in this press release.
Canada Lithium Corp. would also like to thank board member Kerry Knoll
for his contribution to the Company. Kerry Knoll has stepped down from
the board of directors to pursue other interests.
The TSX Venture
Exchange has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.
Contacts:
Canada Lithium Corp.
Judy Baker
President and CEO
(416) 361-2821
jbaker@canadalithium.com
www.canadalithium.com
Copyright 2009, Market Wire, All rights reserved.
http://www.reuters.com/article/pressRelease/idUS270163+28-Apr-2009+MW20090428
Great Basin Lithium Brine Team
Sidney Alderman
Alderman, Slothower & Associates
Sidney Alderman started his mining career as a project geologist for the American Metal Company Ltd. (Parent of AMAX), on the development of the Southwest Potash ore body near Carlsbad, New Mexico. He was one of the founding partners of Agricultural & Industrial Minerals Inc. (AIM), an international consulting firm specializing in potash and other evaporites, including solar salt, borates, and trona. AIM acquired the Owens Lake trona operation from Morrison & Weatherly Chemical Co. in 1975, and developed it into a successful trona producer, which was sold to COMINCO in 1980. As AIM's Vice President and chief geologist, Alderman was involved in the early development and start-up of the Lake McCleod solar salt project in Western Australia, now one of the world's largest salt producers. Mr. Alderman has been associated with numerous major evaporite projects.
Dr. Anthony P. Taylor
Dr. Taylor brings over 40 years of international minerals exploration experience to the group, with hands-on experience and management in discovery of nickel, platinum, copper-zinc, and gold deposits. He has managed projects in Australia, South Africa, and the United States with Cominco, Selection Trust, BP Minerals, Kennecott, and Gencor. He currently is President, Chief Executive Officer and Director of Gold Summit Exploration and a Director of Hecla Mining Company.
Ruth A. Carraher
Ms. Carraher has 28 years of experience exploring for gold, silver, and base metals in the United States, Mexico, Bolivia, Argentina, and China. She has worked for Hanna Mining Co., Freeport Exploration, Amselco, Coeur Exploration, and Barrick Gold Corp. She is one of the founders of the Women’s Mining Coalition, a grass-roots group who lobby on behalf of the US mining industry, and Vice President - Project Development for Gold Summit Exploration.
Management Team
Peter Secker, Chief Executive Officer and Director
Mr. Secker was Chief Executive Officer of JMS Civil and Mining, located in Brisbane, Australia. JMS is a civil and mining engineering firm with revenues of $300 million. Previous to that he was Chief Executive Officer of Michelago Ltd., which is now part of Sino Gold. Under his stewardship, Michelago built a 150,000 oz gold mine in Shandong province, China. Mr. Secker was also Vice-president, Operations for Sino Gold, at the time it was a joint venture between the Chinese Government and Macquarie Bank and during which time he directed the construction of the Jianchaling Gold Mine. His career also includes periods as Mine Manager of Emperor Mines Ltd. in Fiji, Operations Manager of the Youanmi Gold Mine in Australia, and Mine Captain at the Rand Mine in South Africa.
Mark N. J. Ashcroft, M.Sc., P.Eng - Executive Vice-President, Corporate Development
Mark is the Executive Vice-President, Corporate Development of the corporation. Mark has been involved in various capacities in the global mining and finance industries since 1990. From 2007 to 2008, Mark worked at Versant Partners, where he was responsible for successfully developing a mining finance business for that firm in sales, trading and corporate finance. Prior to joining Versant, Mark had been employed with Toll Cross Securities, a boutique institutional firm in Toronto where he became Managing Director and Head of Investment Banking. >From 1999 to 2003, Mark worked in mining project finance in London and New York. From 1996 to 1998 he worked in Mines Technical Services at Inco Limited's Ontario Division, where he qualified as a Professional Engineer in Ontario. From 1990 to 1996, through his undergraduate studies, Mark worked in various operating roles in North and South America and Australia. Mark holds his Bachelor of Engineering (Mining) from Laurentian University and a Master of Science (Finance, Regulation and Risk Management) from the ISMA Centre of the University of Reading. Mark is also currently President and Chief Executive Officer of Stonegate Agricom Ltd., a private company engaged in the acquisition, exploration and development of agricultural nutrient projects.
Gary Pearse, Chief Operating Officer
Mr. Pearse is an engineer, economic geologist, and mineral economist with over 40 years experience including geological survey work in Canada and Nigeria, exploration and development in North America and Africa, government mineral economist and consulting. For much of his career he has worked as a rare metals and industrial minerals consultant, in project management, feasibility, and development. He is recognized for his thorough, unequivocal market studies, based on in-depth knowledge of the mineral-based manufacturing industry.
Andres Tinajero, Chief Financial Officer
Andres Tinajero has been CFO for Black Pearl Mineral Consolidated Inc. since March 2008. Mr. Tinajero is a Certified Management Accountant and holds an MBA and a BA in Finance. He has more than 13 years experience in financial
management focused on the areas of cost accounting, cost analysis, budgeting and financial strategy. He has worked for major organizations in North America, including LaFarge Canada, International Monetary Fund, United Nations and
currently as CFO for Vena Resources Inc, and CFO for Trelawney Resources Inc.
Charles Merivale, Consultant
Senior Vice President, Amalgamet Canada, Division Premetalco Inc.
Mr. Merivale has been with Amalgamet, a global metal trader, for over 30 years serving both metal and industrial mineral segment clients around the world including securing product, international banking, shipping and bulk chartering arrangements. Charles is a specialist in the lithium market having acted as a sales agent for TANCO, as well as written numerous industry journal articles and delivered many presentations to industry groups and conferences on the merits of lithium. Charles has a track record of market development for new industrial minerals projects and is known for developing long-term customer relationships.
Followers
|
1
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
65
|
Created
|
10/15/09
|
Type
|
Free
|
Moderators |
Canada Lithium Corporation
CANADIAN: CLQ.V PINKSHEET: CLQMF.PK
COMPANY WEBSITE
http://www.canadalithium.com/index.php
OVERVIEW
Canada Lithium Corp. (TSX.V:CLQ) is acquiring and testing the economics of several spodumene pegmatite deposits in Canada. As well, the company has initiated lithium brine exploration in the Great Basin of the United States.
Canada Lithium Corp. is located in Toronto and trades on the TSX Venture Exchange – Symbol : CLQ
Peter Secker, Chief Executive Officer and Director
Mr. Secker was Chief Executive Officer of JMS Civil and Mining, located in Brisbane, Australia. JMS is a civil and mining engineering firm with revenues of $300 million. Previous to that he was Chief Executive Officer of Michelago Ltd., which is now part of Sino Gold. Under his stewardship, Michelago built a 150,000 oz gold mine in Shandong province, China. Mr. Secker was also Vice-president, Operations for Sino Gold, at the time it was a joint venture between the Chinese Government and Macquarie Bank and during which time he directed the construction of the Jianchaling Gold Mine. His career also includes periods as Mine Manager of Emperor Mines Ltd. in Fiji, Operations Manager of the Youanmi Gold Mine in Australia, and Mine Captain at the Rand Mine in South Africa.
Mark N. J. Ashcroft, M.Sc., P.Eng - Executive Vice-President, Corporate Development
Mark is the Executive Vice-President, Corporate Development of the corporation. Mark has been involved in various capacities in the global mining and finance industries since 1990. From 2007 to 2008, Mark worked at Versant Partners, where he was responsible for successfully developing a mining finance business for that firm in sales, trading and corporate finance. Prior to joining Versant, Mark had been employed with Toll Cross Securities, a boutique institutional firm in Toronto where he became Managing Director and Head of Investment Banking. >From 1999 to 2003, Mark worked in mining project finance in London and New York. From 1996 to 1998 he worked in Mines Technical Services at Inco Limited's Ontario Division, where he qualified as a Professional Engineer in Ontario. From 1990 to 1996, through his undergraduate studies, Mark worked in various operating roles in North and South America and Australia. Mark holds his Bachelor of Engineering (Mining) from Laurentian University and a Master of Science (Finance, Regulation and Risk Management) from the ISMA Centre of the University of Reading. Mark is also currently President and Chief Executive Officer of Stonegate Agricom Ltd., a private company engaged in the acquisition, exploration and development of agricultural nutrient projects.
Gary Pearse, Chief Operating Officer
Mr. Pearse is an engineer, economic geologist, and mineral economist with over 40 years experience including geological survey work in Canada and Nigeria, exploration and development in North America and Africa, government mineral economist and consulting. For much of his career he has worked as a rare metals and industrial minerals consultant, in project management, feasibility, and development. He is recognized for his thorough, unequivocal market studies, based on in-depth knowledge of the mineral-based manufacturing industry.
Andres Tinajero, Chief Financial Officer
Andres Tinajero has been CFO for Black Pearl Mineral Consolidated Inc. since March 2008. Mr. Tinajero is a Certified Management Accountant and holds an MBA and a BA in Finance. He has more than 13 years experience in financial management focused on the areas of cost accounting, cost analysis, budgeting and financial strategy. He has worked for major organizations in North America, including LaFarge Canada, International Monetary Fund, United Nations and currently as CFO for Vena Resources Inc, and CFO for Trelawney Resources Inc.
Charles Merivale, Consultant
Senior Vice President, Amalgamet Canada, Division Premetalco Inc.
Mr. Merivale has been with Amalgamet, a global metal trader, for over 30 years serving both metal and industrial mineral segment clients around the world including securing product, international banking, shipping and bulk chartering arrangements. Charles is a specialist in the lithium market having acted as a sales agent for TANCO, as well as written numerous industry journal articles and delivered many presentations to industry groups and conferences on the merits of lithium. Charles has a track record of market development for new industrial minerals projects and is known for developing long-term customer relationships.
PROJECTS
Quebec
http://www.canadalithium.com/property_quebec_lithium.php
Maps & Sections
http://www.canadalithium.com/property_quebec_maps.php
Tully Gold
http://www.canadalithium.com/property_nickel_offsets_tully_gold.php
Maps & Sections
http://www.canadalithium.com/project_tully_maps.php
Ni43-101 Technical Report[/b]
http://www.canadalithium.com/pdfs/Tully_43-101_January_2008_Technical_Report.pdf
NEWS LINK for CANADIAN LITHIUM
http://www.canadalithium.com/news.php
FINANCIAL REPORTS
http://www.canadalithium.com/news.php
SHARE STRUCTURE
115.85Million - Outstanding
INVESTOR RELATIONS
Olav Svela, Director, Investor Relations, (416) 361-2821, osvela@canadalithium.com
Dan Symons, Renmark Financial Communications Inc., (514) 939-3989, dsymons@renmarkfinancial.com
Or visit the Canada Lithium website at www.canadalithium.com
STOCKCHART
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |