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Lithium Corporation Message Board

  • rsptn66 rsptn66 May 9, 2011 10:47 AM Flag

    LTUM drill approval PR not yet on the wires

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    • that's my guess. The PR comes up under scottrade.

      • 1 Reply to jzinckgra
      • Lithium Corporation Receives Salt Wells Drill Permit Approval

        ----------------------------

        Press Release Source: Lithium Corporation On Monday May 9, 2011, 11:00 am

        RENO, Nev.--(BUSINESS WIRE)-- Lithium Corporation (OTCBB:LTUM.ob - News) (the "Company", or “Lithco”) is pleased to announce that it has recently received approval from the Bureau of Land Management for its permit application to drill on its Salt Wells Lithium property.



        The Company recently reported that it had discovered lithium enriched brine mineralization in the immediate subsurface on its Salt Wells prospect of up to 38 mg/L. This lithium anomaly occurs in an area of limited sampling density that is about one and a half miles long & up to three quarters of a mile wide. Although the levels of lithium in the brine should be characterized as only moderately anomalous, the company believes that it may be indicative of a lithium brine reservoir at depth.



        The Eightmile Flat portion of the Salt Wells basin where the prospect is located is large, and possibly deep, so it is anticipated that more work at intermediate depths is necessary before committing the resources to a deep drilling program. To that end a number of holes will be drilled in the upcoming drill program to depths of 150 to 300 feet subsurface in an effort to acquire information that will aid delineation of the areas containing the best lithium-in-brine mineralization.



        The Company intends to begin drilling as soon as practical this spring. Weather patterns have been quite unusual across the continental US over the past several months. Portions of Nevada received above normal precipitation since late October of last year. One of the Company’s concerns has been when to mobilize drill equipment to its sites that occur in closed basins, which collect and hold all the precipitation that runs off from the surrounding mountains. The combination of large volumes of water and the very fine sediments in the basins can create conditions in which it is both inadvisable to work in, unsafe, and would cause considerable surface disturbance, which is not allowed under the provisions of the BLM permits.



        The Company continues to explore, and our personnel are considering options for collecting increasingly deeper brine samples from the two playas (Salt Wells and Fish Lake Valley) which are traversable on foot at this time.



        For further information please contact Lithium Corporation at (888) 299-3989 or via email at info@lithiumcorporation.com.

 
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