Lithium Corporation Receives Results from BC Sugar Trenching Program
Elko, Nevada (FSCwire) - Lithium Corporation (OTCQB:LTUM) (“LTUM” or “the Company”), a North American explorer focused on energy metals for the growing energy storage sector and high tech industries, is pleased to announce that it has received the results from the Spring 2018 trenching program at its BC Sugar Flake Graphite prospect in South Central British Columbia.
During the program twelve test pits were excavated and three of these pits intersected weak to moderate graphitic mineralization with the best pit of the three exhibiting mineralization up to 2.62% graphitic carbon. Another six pits terminated at varying depths and ended in non-mineralized metamorphic bedrock. The remaining three pits were excavated to the full extent of the capacity of the excavator utilized for the program but bottomed in glacio-fluvial till, and did not encounter graphitic mineralization or bedrock.
As per the permit requirements the Company will be remediating these sites, before determining the next steps forward with respect to this prospect. Lithium Corporation remains bullish on the future of graphite in North America, due to increased consumption because of new battery manufacturers coming on line. Also continued closures of graphite mines in China in 2017 and 2018 appear to indicate that Chinese battery producers may move from a state of oversupply of graphite for battery anodes to that of undersupply and hence may need to source graphite from other locales. These factors possibly indicate that at some point in the not-so-distant future the balance will tip and prices may increase.
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 at 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.
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Source: Lithium Corp. (OTCQB:LTUM)
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