Canada Lithium Finishes Debt Drawdown, Begins Lithium Project

Canada Lithium Corp. (TSX:CLQ,OTC:CLQMF) announced it has completed the first drawdown of $35 million as it begins its Quebec lithium project.

As quoted in the press release:

The project continues to meet its budget and scheduled milestones for commissioning of the spodumene circuit by the end of 2012. During the past few weeks, pre-stripping of the deposit and construction of the first phase of the Tailings Management Facility (TMF) have been under way.  Last week, the Company began mining operations in a series of blasts that excavated about 80,000 tonnes of waste rock to expose the lithium-bearing deposit and provide material for the TMF containment berms, mine-haulage roadbed and crusher access ramp. Over the next six weeks, the Company anticipates excavating more than 600,000 tonnes of waste rock in order to undertake the initial phase of mining and spodumene plant commissioning scheduled for December, 2012.

Click here to read the Canada Lithium Corp. (TSX:CLQ) press release.