Lithium Corporation, the Nevada-based mineral developer with 6.4k acres of placer claims at their Fish Lake Valley site (lithium-enriched salt pan) and another 1.6k acres at their San Emidio Valley project (lithium-enriched playa), reported some great news today out of their graphite operation some 30 miles northeast of the City of Vernon, as the acreage has been expanded to just over 18.8k acres, with solid prospecting and geological returns from their summer work program.
The BC Sugar property is in prime flake graphite geology within the Shushwap Metamorphic Complex and with the best prospect thus far coming in at 5% flake graphite, it is little wonder LTUM has shifted focus here from their Mt Heimdal property, where prospecting returns from June and July brought back only 3.72% at best. LTUM has subsequently secured an agreement with the Mt Heimdal vendor to exchange the vendor's 100% interest in the property for a 2% net smelter royalty on future production.
With several mineral bearing boulders identified on the BC Sugar site during the extant work that point to the potential for one or multiple mineralized horizons inside the claim block and with such premium flake graphite geology, LTUM is locking horns with the project, hungry for that large flake. Another reason the company is so bullish here is the superb accompanying logistical environment for the BC Sugar's development and production phases. The project sits in the heart of Nevada mining country and has an extensive network of existing logging roads already inside the project area. Work will be progressing at the BC Sugar with a great deal of interest and investors will be keen to keep an eye out for further details about the ongoing prospecting and geological efforts by LTUM.
Meanwhile, the company is getting ready to put drills into the brine over at their Fish Lake lithium property early this September, where work was judiciously postponed due to heavy rains in July. LTUM is making all the right moves to be positioned as a stable supplier of two increasingly crucial, strategic mineral resources; and with all their digs in Nevada, you can bet the cost structure will be tight.
For more information on Lithium Corp., visit LithiumCorporation.com
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