ELKO, NV / ACCCESSWIRE / October 11, 2022 / Lithium Corporation (OTCQB:LTUM) ("LTUM" or "the Company"), a North American company focused on energy metals for the growing energy storage sector and high-tech industries, is pleased to announce a Controlled Source Audio Frequency Magnetotelluric (CSAMT) geophysical survey has commenced on our San Emidio Lithium-in-brine prospect in Washoe County, Nevada. Additionally, our optionee at the North Big Smoky (NBS) prospect, Morella Corporation (OTCQB:ALTAF, ASX:1MC), recently completed a CSAMT survey and playa sediment geochemical sampling program on that property. Both geophysical surveys were slated to start in November but the contractor, KLM Geoscience, was able to move up the schedule.
Under the terms of the North Big Smoky option agreement, Morella may earn a 60% interest in the NBS Project over a four-year period by conducting exploration and incurring expenditures relating to exploration and assessments, including associated resource and feasibility studies on the Project ("Expenditure Requirement"). The Expenditure Requirement is to be no less than $1,000,000 (all dollar amounts are USD) in aggregate over the four-year period. For details about the agreement refer to Lithium Corporation's August 2022 release 'Lithium Corporation and Morella Sign Formal Agreement for North Big Smoky'.
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 has maintained a strategic alliance with Morella Corporation (the Company's single largest shareholder) for the past nine years, and also entered into a formal agreement with Morella with respect to earn-ins on the Company's Fish Lake Valley lithium-in-brine prospect in Esmeralda County, and the North Big Smoky lithium-in-brine prospect in Nye County, Nevada.
Website: www.lithiumcorporation.com
Contact Info
Tom Lewis, CEO
775-410-5287
info@lithiumcorporation.com
About Morella Corporation
Morella is an exploration and resource development company focused on lithium and battery minerals. Morella is currently engaged in exploration, resource definition and development activities with projects strategically located, in Tier 1 mining jurisdictions in both Australia and the United States of America. Morella will secure and develop lithium raw materials to support the surging demand for battery minerals, critical in enabling the global transition to green energy.
Contact Info
James Brown, Managing Director
info@morellacorp.com
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 Corporation
View source version on accesswire.com:
https://www.accesswire.com/719381/CSAMT-Survey-Commences-on-San-Emidio-Prospect
