International Lithium Corp. has announced a
preliminary budget of $4m with its development partner
Gangfeng Lithium Co. Ltd for the exploration
and development of its Mariana and Avalonia joint venture (JV)
projects, based in Argentina and Ireland, respectively.
Of this total, $3.19m has been allocated
to the Mariana project, with the remainder going to Avalonia.
The company is preparing to commence fieldwork on both projects
in January 2016.
For Mariana, the funds will be used to
investigate a natural evaporation concentration process for the
project’s brines. Bench testing of the brine will
then be carried out, to be followed by onsite field
Noting the recent change of government in
Argentina to a more economically liberal-minded ruling party,
Kirill Klip, International Lithium’s president,
said: "The results of the recent elections have managed to give
foreign corporations greater confidence in the future of
business and mineral resource development in Argentina."
International Lithium also recived
confirmation this week from the Exploration and Mining Division
of the Department of Communications, Energy and Natural
Resources of Ireland.
All eight prospecting licences covering
the Avalonia project were renewed after the department accepted
the company’s work reports and its six-year review
process. The licences are now valid until 6 August 2021.
The company hopes that the "stark
contrast" in the physical properties of the rocks that make up
the resource and its country rock should enable it to develop
an accurate and efficient method of developing drill targets
based on magnetometer surveys.
Also headquartered in Candada, British
Columbia-based Nevada Sunrise Gold Corp. has
announced the signing of a definitive agreement for an option
to purchase the Clayton Northeast (Clayton NE) lithium property
in Clayton Valley, Nevada.
The claims cover 2.76km2 and
are contiguous to the Silver Peak lithium mine operated by
Albemarle Corp., Nevada Sunrise said. The
Silver Peak lithium production well is located 45 metres from
the western boundary of the property, the company added.
A 1982 drill hole on the project
encountered lithium values of 24-110 parts per million (ppm)
lithium in the brine samples obtained at the time, for an
average value of 69.3 ppm over 11 samples.
"Nevada Sunrise believes that drilling
deeper holes at Clayton NE could intersect additional aquifers
potentially hosting brines of similar or better contents of
lithium than were encountered in the relatively shallow
historical hole," the company said.
In Montreal, Quebec, Glen Eagle
Resources Inc. has proposed a JV arrangement for its
Authier lithium asset with the nearby Canada Lithium
"Glen Eagle has commissioned a detailed
business plan from experienced operators, engineers and
managers to support its proposal; which has been presented to
potential European project offtakers, strategic funding
partners and current parties involved in the liquidation of
Canada Lithium including Investissement Quebec," the company
"The proposal also made clear to all
participants that a restart of Canada Lithium operations in the
area has a better chance to succeed with the contribution of
Authier by bringing to the Canada Lithium project a more
favourable strip ratio and a longer mine life," Glen Eagle
Meanwhile, Calgary, Alberta-headquartered
Bacanora Minerals Ltd said that it "continues
to develop" strategic relationships with international lithium
trading and mining companies for the sale of its products.
"As part of this strategy, the company has
already completed a number of detailed site and plant visits
with potential offtake partners to facilitate and expedite
lithium sample optimisation," Bacanora said.
Peter Secker, Bacanora’s CEO,
said that the project "is now receiving a significant amount of
interest from major trading houses in Asia and Europe" for the
supply of lithium products.
Elsewhere, Cypress Development
Corp. has acquired the 7.2km2 Alkali Valley
lithium brine project located in Esmeralda County, Nevada,
The project area covers the central and
northeast portions of the bottom of the Alkali Lake Playa, and
is contiguous with Dajin Resources’ Alkali Lake
Cypress said that, like Nevada
Sunrise’s new project area, the Alkali Valley
claims are located nearby to Albemarle’s Silver
Peak production facility.
TSX-V-listed Alix Resources
Corp. has commenced work on its Electra lithium
project, which is located adjacent to Bacanora
and Rare Earth Minerals
Plc’s Sonora lithium project in Sonora,
The 22.6km2 project area will
see preliminary reconnaissance including geological mapping,
prospecting and sampling. High priority areas will be targeted
by the geologists.
"The company is pleased to now have boots
on the ground on our Mexican concession and to commence
exploration on the property. Our team is well experienced in
the area and we look forward to announcing further news as they
progress with the exploration programme," Mike England,
Alix’s president, said.
ASX-listed Lithium Australia
NL announced the creation of its first lithium
hydroxide (LiOH) sample on 11 December.
"The hydroxide product results from the
conversion of carbonate and in present markets commands a
premium of around 25%," the company said. "The upgrade of
product is a significant value-add process."
Perth-based European Metals
Holdings Ltd, which is developing the Cinovec lithium
project in the Czech Republic, has announced its admission to
the Alternative Investment Market (AIM) stock exchange in
Beaumont Cornish Ltd
acted as the company’s broker and nomad for the
listing, which Keith Coughlan, the company’s
managing director, said would provide the company with greater
flexibility and a wider investor base.
The company, which is also listed on the
ASX, is now working on an infill drilling programme on the
project. Core from the programme will be used in the
metallurgical assessment of the property’s