Lithium Corporation (OTCBB: LTUM) (the "Company", or "Lithco") is pleased to announce that it has recently recommenced drilling on its Salt Wells Lithium property after a three month hiatus due to unseasonably wet conditions on a number of Nevadan Playas.
As previously announced, Lithium Corporation intends to test the area of a large lithium brine anomaly by means of moderate depth drill holes (up to 200' subsurface) in an attempt to better define where economic Lithium concentrations might be located on the property. In addition to the above the company's recent gravity survey has indicated that a large paleosurficial low is located proximal to the brine anomaly. The Company is very encouraged by this finding as it has often been stated that the most prospective areas for finding brine resources are in the vicinity of where the basin is its deepest.
The Company continues to explore, and evaluate prospects in the Great Basin. The company drilled its Cortez/Grass Valley prospect in Lander County, Nevada in July, and has only recently received final analytical results from this program. While the results were anomalous, they were not as encouraging as hoped, and so the Company has decided to drop this prospect.
For further information please contact Samantha White, 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 press release 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 on the Salt Wells Lithium Property.
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.
Contacts:
Lithium Corporation
Samantha White, 888-299-3989
info@lithiumcorporation.com
