ELKO, NV / ACCESSWIRE / October 31, 2019 / 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 work has continued apace on its Yeehaw Titanium/Rare Earth Element (REE) prospect in Southern British Columbia, and its 25% owned Hughes Gold-Silver prospect in Tonopah, Nevada. Current market conditions preclude investing significant labor or capital on the Company's Fish Lake Valley and San Emidio Lithium Brine prospects. The Company views this as the natural outcome of a recalibration in the sector which will be followed by a return to positive growth and development in the not too distant future.
The Company's current focus has been on the Yeehaw prospect where Company geologists determined the main constraints that localize the emplacement of the Horseshoe Bend Ti/REE mineralized zone, which appears to extend laterally at least 500 meters, and is still open along strike. Unfortunately, winter conditions have occurred above 1500 meters elevation extremely early in the Monashee Mountains, therefore work there has concluded for the year. It appears a trade agreement between the US and China will circumvent the threat of China imposing quotas on REE's with a resultant spike in prices, however the fundamentals remain strong for a robust REE market for quite some time due to increasing demand related to their use in an ever expanding variety of technological applications.
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 Lithium mining company that is rapidly approaching the 245,000 ton per annum nameplate production at its 100% owned world-class Pilgangoora lithium pegmatite mine in Western Australia. Website: www.lithiumcorporation.com
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 Corporation
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