Lithium Corporation Makes Application to Drill San Emidio Prospect
Elko, Nevada (FSCwire) - Lithium Corporation [OTCQB – LTUM] “the Company” is pleased to announce that it has recently submitted a notice level permit application to the BLM in support of a proposed three hole reverse circulation drill program on its San Emidio lithium-in-brine prospect in Washoe County Nevada.
The drilling is slated to investigate at depth the subsurface lithium-in-brine anomaly that the Company discovered through drilling in 2012. The anomaly is approximately 3 miles (5 kilometers) long, and 0.6 miles (1 kilometer) wide, and is thought to represent faulting and possibly reservoir conditions similar to that at the Silver Peak lithium mine in Clayton Valley Nevada. The Company intends to drill this property in Spring 2019, once ground conditions permit.
Also the Company is pleased to announce that it has recently closed a financing consisting of 909,091 units at $0.11, with each unit consisting of one common share and a warrant for the purchase of a further share of the Company’s common stock at $0.15 for up to two years.
About Lithium Corporation
Lithium Corporation is an exploration company based in Nevada devoted to the exploration for energy storage related resources throughout North America, and looking to capitalize on opportunities within the ever expanding next generation energy storage markets. The Company maintains a strategic alliance with Altura Mining, an ASX listed natural resource development company that has recently commenced commercial production on its 100% owned world-class Pilgangoora lithium pegmatite property in Western Australia.
Tom Lewis, CEO
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.
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.
Source: Lithium Corp. (OTCQB:LTUM)
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