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International Lithium Corp. Enters Letter of Intent with GFL International Co.Ltd
Jul. 30, 2012 08:57AM PST
Battery MetalsInternational Lithium Corp.(TSXV:ILC) announced optioning out its Blackstairs project in Ireland. The Company entered into a Letter of Intent with GFL International Co.Ltd.
International Lithium Corp.(TSXV:ILC) announced optioning out its Blackstairs project in Ireland. The Company entered into a Letter of Intent with GFL International Co.Ltd.
As quoted in the press release:
Under the terms of the LOI GFL will earn a 75% interest in the Blackstairs project by:
- Producing a bankable feasibility study within ten years of entering into the venture,
- Incurring a minimum of $150,000 in exploration expenditures per year, and
- Making $500,000 in cash payments to ILC over a three year period, $100,000 upon signing of a final agreement, $100,000 on the first anniversary and $300,000 on the second anniversary.
Click here to read the International Lithium Corp. (TSXV:ILC) press release
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