Lithium Corp. (LTUM) Positive Drilling Results on San Emidio Validate Lithium Resource Model, Company Plans Deeper Drilling
Lithium Corp. is reporting good news today, as the analytical results come in from the most recent round of drilling at their San Emidio site in Nevada, showing peak value returns as high as 23.7 mg/l lithium in the previously identified, lithium-in-brine anomaly (values 10 to 20 times the background levels outside the anomaly).
The some 1,600-acre block of claims that makes up the San Emidio playa prospect in northwestern Nevada’s lithium-rich Washoe county are starting to look extremely appealing to LTUM as one of their most exciting properties. This most recent drilling’s ability to further delineate the targeted anomaly that was previously kicked up by sediment and brine sampling efforts has reinforced the company’s analytical model for the playa. LTUM has put together the proximity of several faults from this latest data, and the notion that we are looking at a buried lithium-in-brine deposit with geologic (and productive potential) characteristics similar to the famous Silver Peak-style of deposit, is starting to look like a no-brainer.
The structural features all add up and the company will be pursuing this idea with all due haste in 2013, pending feasibility of a deeper drilling program and the compilation of extant data on the site, with amendments to the BLM permits following in suit. Sampling in this latest program has been carted off to the Vancouver facility of Inspectorate Laboratories for validation and LTUM is currently awaiting these results.
As for the drilling program itself, we have some 856 feet in eight carefully chosen sites, corresponding to the choice targets previously identified within this massive 3 mile long by 0.5-mile wide (at the widest point) anomaly. The range of depths that hit brine span from 90 to 160 feet (107 average) and in general the program has been a huge success in helping to define this part of the anomaly. The exceptional peak value returns far surpass outlying levels of lithium and the company sees the economics of such a lithium-rich field in their proper context, as lithium literally powers the burgeoning mobile computing space, as well as the rapidly emerging EV battery space (in addition to a whole range of the standard applications). Whether it’s in EVs like the Chevy Volt and Tesla Model S or the latest mobile device, lithium has a bright future and the domestic/global demand will only continue to grow.
The company has an enticing portfolio of lithium properties in Nevada, and for investors looking to get into a strong commodity with tremendous future upside through investment in a competitive developer, a lightweight yet heavy-hitter like LTUM could be just the ticket. Properties like the Fish Lake Valley prospect that recently finished drilling further south in prolific Esmeralda County show just how solid LTUM’s overall footprint in Nevada lithium is and investors are encouraged to take a further look at the company’s website to get a better sense of just how much potential there is to be developed.
For more information on Lithium Corp., visit www.LithiumCorporation.com
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