Lithium Corporation Receives Salt Wells Analytical Results
Lithium Corporation (OTCBB: LTUM) (the 'Company', or 'Lithco?) is
pleased to announce that it has recently received results from its
drilling program on the Salt Wells playa prospect in Churchill County,
Nevada.
During the October program the Company probed 31 sites, a total of 3,437
feet, and obtained 46 samples from various discrete intervals. Brines
were encountered in 23 of the 46 samples taken, with another 4 samples
being classified as near-brines, and 3 samples can be characterized as
brackish water. The remainder of the samples taken were fresh water. The
deepest hole drilled during the program was 155 feet and sampling depths
ranged from 32 to 125 feet subsurface during the program. The average
sample depth was approximately 68 feet. Due to extremely wet ground
conditions the Company elected to use a lightweight, tracked machine
that in many locations was not capable of penetrating the hard compact
sands encountered in most locales below approximately 90 feet in depth.
The shallow drilling at Salt Wells has confirmed an elongate
Lithium/Boron/Potassium/Phosphorous anomaly on the property that is
proximal to the basinal feature delineated by the recently completed
gravity geophysical survey. This lithium-in-brine anomaly is greater
than 3 miles in length, and is from three-quarters to one and one half
miles wide. Lithium values range from 20 to 30 milligrams per liter
within this anomaly, and it is apparent that lithium concentrations are
increasing with depth. Temperature anomalies were noted during the
course of the program, which may be indicative of proximity to faults
carrying geothermal fluids, a component considered necessary for the
formation of a Silver Peak type lithium-brine deposit.
Lithium Corporation′s president, Tom Lewis remarked, 'I am pleased with
the results to date at Salt Wells, and look forward to resuming work on
this prospect as soon as possible in 2012.? The company is planning a
deeper drilling program here in 2012.
The Company is also planning a shallow drilling program at its newly
acquired San Emidio prospect, where surficial brines have returned
results up to 66.4 milligrams per liter lithium.
Lithium Corporation is currently consulting with contractors as to how
best approach the Fish Lake Valley Playa, where the Company has received
its best results to date. The Company has not been able to drill this
prospect the last two field seasons due to unusually wet conditions, and
wants to explore all options to enable drilling in 2012.
For further information please contact Lithium Corporation at (888)
299-3989 or via email at info@lithiumcorporation.com
About Lithium Corporation
Lithium Corporation is an exploration company based in Nevada devoted to
the exploration for new lithium resources within the state of Nevada.
The Company explores and develops potentially economic lithium-enriched
brine fields, with an eye to becoming a long-term producer of this
increasingly strategic and economically important commodity.
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, including but not
limited to, any mineralization, exploration and development of our
mineral properties, specifically in regards to any future drilling
programs.
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
Samantha White, 888-299-3989
info@lithiumcorporation.com
