Lithium Corporation Wraps up 2013 Exploration
Lithium Corp. (OTCBB: LTUM) (the "Company", or “Lithco”) is pleased to announce that it has received final assays from its October prospecting and geological program at its BC Sugar property in British Columbia. Lithium Corp. has recently increased the size of the property to roughly 19,664 acres (7,957 hectares). Prospecting and geological work has been ongoing at the property since the Company started assembling a land position in June, and several graphite prospects have been discovered in a belt of metamorphic rocks which stretches at least 8 miles (13 kms) through the claim block.
In the latest round of work, prospecting increased the area known to be underlain by graphitic bearing gneisses, and further evaluations were made in the area of the Sugar Lake, Weather Station, and Taylor Creek showings. In the general vicinity of the Weather Station showing a further 13 samples were taken, and hand trenching was performed at one of several outcrops in the area. In the trench a 5.2 meter interval returned an average of 3.14% graphitic carbon, all in an oxidized relatively friable gneissic host rock. Additionally a hydrothermal or vein type mineralized graphitic quartz boulder was discovered in the area which graded up to 4.19% graphitic carbon. The source of this boulder was not discovered during the latest round of work. Samples representative of the mineralization encountered here were taken for petrographic study, and also for studies relating to the qualities of the graphite flakes.
The BC Sugar property is within the Shushwap Metamorphic Complex, in a geological environment favorable for the formation of flake graphite deposits, and is in an area of excellent logistics, with a considerable network of logging roads within the project area. Additionally the town of Lumby is approximately 19 miles (30 kms) to the south of the property, while the City of Vernon is only 30 miles (50 kms) to the southwest of the western portions of the claim block.
For further information please contact Andy Dewey at Lithium Corp. at (775) 410-2206 or via email at info@lithiumcorporation.com
About Lithium Corporation
Lithium Corp. is an exploration company based in Nevada devoted to the exploration for new lithium ion battery related resources in western North America. The Company is currently in the exploration phase at two potentially economic lithium-enriched brine fields, and two flake graphite prospects, with an eye to becoming a long-term producer of these increasingly strategic and economically important commodities.
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.
Contact
Lithium Corp.
Andy Dewey, (775) 410-2206
info@lithiumcorporation.com
