International Lithium Finalizes Mariana JV with Ganfeng Lithium

International Lithium Corp. (TSXV:ILC.V) has finalized an earlier joint venture agreement with Ganfeng Lithium International regarding the Mariana Lithium Brine project in Argentina. A detailed budget is currently under development for the project, as is a plan to advance Mariana to pilot scale testing.

As quoted in the press release:

Under the terms of the Loan Conversion and Investment Agreement announced on March 19, 2014 (the “Investment Agreement”), GFL holds an 80% interest in the Mariana project (see March 19, 2014 news release). Further to the Investment Agreement, GFL will make available to ILC a loan of up to US$2,000,000 to cover a portion of, or the entirety of, ILC’s required contribution to the joint venture.

International Lithium president, Kirill Klip, said:

Now that we have finalised the joint venture agreement with Ganfeng Lithium on the Mariana project, an accelerated exploration program leading to pilot scale testing is in the planning stages. Metallurgical testing can be conducted by Ganfeng Lithium using their technological expertise and research facilities. This will greatly reduce costs and improve efficiencies during the feasibility studies. Together we strive to become a primary source of lithium to meet the increasing global demand.

Click here to read the International Lithium Corp. (TSXV:ILC.V) press release