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International Lithium, Pioneer Resources, Plan Drilling For Mavis Joint Venture
Apr. 20, 2016 09:28AM PST
Battery MetalsInternational Lithium (TSXV:ILC) announced that its partner, Pioneer Resources (ASX:PIO), has advised that it wishes to advance an exploration program at International Lithium’s Mavis Lithium project in Ontario. As quoted in the press release: The program comes ahead of the final decision on an option and joint venture agreement announced by the companies on March …
International Lithium (TSXV:ILC) announced that its partner, Pioneer Resources (ASX:PIO), has advised that it wishes to advance an exploration program at International Lithium’s Mavis Lithium project in Ontario.
As quoted in the press release:
The program comes ahead of the final decision on an option and joint venture agreement announced by the companies on March 14, 2016 whereby Pioneer was granted an exclusive right to conduct due diligence over a three month period prior to finalizing an option agreement (see Company news release March 14, 2016).
The proposed work program will include 6 diamond drill holes to test key spodumene intersections made at the Fairservice and Pegmatite 18 prospects during 2011 and 2012. Ground magnetic surveys totalling approximately 170 line-kilometres are proposed to help define the pegmatite targets and will be followed up with soil geochemical surveys. Subject to drilling results, and to the outcomes of the ground magnetic and geochemistry programs, drilling is expected to continue.
Mr. Kirill Klip, President, International Lithium Corp. comments, “We are very pleased to see a rapid advancement on the Mavis Lithium project in Ontario with Pioneer Resources Limited. International Lithium is now fully active on 3 continents with high quality projects and strategic partners. This initial program at Mavis, scheduled for June 2016, will allow ILC to begin its multi-project “Upper Canada Lithium Pool” targeting raw materials for the lithium supply chain to North America”
