Lithium

International Lithium

Developing a Portfolio of Lithium and Rare Metals for the Canadian Battery Supply Chain

This International Lithium profile is part of a paid investor education campaign.*

ILC:CA
TSXV:ILC


Overview

As the demand for clean technologies grows, so too does the demand for high-tech rechargeable batteries used in the green economy. However, the United States and the European Union’s current dependence on Japan, South Korea and China for 80 percent of the world’s battery production is threatening its auto industry. China is the largest processor and producer meaning it can significantly influence pricing and supply chain flows.

The United States and the European Union are working to reduce dependence on these countries and restructure supply chains. Both regions have identified Canada as a secure and stable source of sustainable raw materials such as lithium which is critical to the growing electric vehicle markets. As a result, mining companies with Canada-based mining projects that supply materials needed for high-tech rechargeable batteries such as lithium may be an interesting opportunity for investors to consider.

International Lithium (TSXV:ILC,OTC:ILHMF,FRA:IAH) is a mineral exploration company focused on developing a portfolio of lithium and rare metals projects and royalties in Canada and Ireland. The company is led by an experienced management team with a proven track record of advancing prospective projects with low technical risk in established mining jurisdictions.

International Lithium Battery Type vs Power Density

International Lithium delivers shareholder value through project development, strategic partnerships and project sales. The company’s projects include the Raleigh Lake, Mavis Lake, Avalonia and Forgan Lake projects.

The company’s flagship Raleigh Lake project is a fully-owned and highly prospective lithium, rubidium and caesium project located in Ontario, Canada. The Raleigh Lake project spans 47,700 hectares adjacent to the Trans-Canada highway and CPR railway, just outside the town of Ignace and features promising drill results. Drilling identified stacked tabular dyke-like bodies that gently dip from surface, covering an area of 600 metres along strike by 400 metres downdip with each dyke having grades akin to the 3.78-metre interval grading 1.72 percent lithium oxide and 2829 ppm rubidium in drill hole RL21-03. Recent prospecting on newly acquired claims discovered 20 new pegmatites at surface level over several kilometres.

International Lithium Pegmatite Outcrop

Pegmatite outcrop discovered at the White Otter prospect, Raleigh Lake project area.

International Lithium Raleigh Lake Project

International Lithium’s Avalonia project is a joint venture lithium project located in Leinster, Ireland, spanning 29,200 hectares covering a 50-kilometre belt. Drilling on the Avalonia project returned 2.23 percent lithium oxide over 23.3 metres including 3.43 percent lithium oxide over 6.0 metres and 1.50 percent lithium oxide over 5.60 metres. The Avalonia project is currently under an option agreement. International Lithium currently owns 45 percent.

The company’s Forgan Lake project is a fully-owned lithium project located in the Thunder Bay Mining District in Ontario. The project spans 256 hectares and features mineralization hosted in pegmatite. Channel sample results from the pegmatite include 2.57 percent lithium oxide over 6.4 metres, 4.23 percent lithium oxide over 7.25 metres and 1.98 percent lithium oxide over 7.5 metres. The Forgan Lake project is under a sale and royalty agreement set to be completed soon.

“ILC is now in by far the strongest financial position that it has been since its listing in 2011, and we look forward to building successfully on that both at our lithium and rubidium project at Raleigh Lake in Ontario and on our other present and future projects,” said CEO John Wisbey.

International Lithium Power Line Corridor

Power line corridor through Raleigh lake project area

In October 2021, the company announced the divestment of 100 percent of the Mavis Lake joint venture lithium and caesium project in Ontario, Canada to Critical Resources Ltd. (ASX:CRR). If the Mavis Lake sale option is exercised, International Lithium will be entitled to 50 percent of the divestment proceeds which equals a significant C$1.476 million and a possible further C$1.384 million linked to resource discovery milestones.

In October 2021, the company announced the completion of the transaction to sell its remaining interest in its now formerly owned Mariana project in Argentina for US$13.17 million. This sale, in addition to other planned sales, puts International Lithium in a strong financial position to further increase its liquidity. In 2021 alone, the company raised C$4.9 million in equity financing.

International Lithium is currently focused on conducting further ground surveys, drilling, chemical analyses, financial analysis and a resource estimate for the remainder of 2021 and into 2022 on its Raleigh project. This will allow the company to determine the full scale and economics of the mineral potential. Going forward, the company will continue to identify additional properties to add to its portfolio.

Company Highlights

  • International Lithium is developing a portfolio of lithium and rare metals projects and royalties in Canada and Ireland, aiming to deliver shareholder value through project development, strategic partnerships and project sales.
  • The company’s flagship Raleigh Lake project is a fully-owned and highly prospective lithium, rubidium and caesium project located in Ontario, Canada. The Raleigh Lake project spans 47,700 hectares just outside the town of Ignace and adjacent to perfect infrastructure. Stacked tabular dyke-like bodies gently dip from surface, covering an area of 600 metres along strike by 400 metres downdip and exhibit grades of 3.78-metres with 1.72 percent lithium oxide and 2829 ppm rubidium in drill hole RL21-03.
  • International Lithium’s Avalonia 29,200-hectare project is a joint venture lithium project located in a large belt in Leinster, Ireland. Drilling on the project returned 2.23 percent lithium oxide over 23.3 metres including 3.43 percent lithium oxide over 6.0 metres and 1.50 percent lithium oxide over 5.60 metres.
  • The company’s Forgan Lake project is a 256-hectare, fully-owned lithium project located in the Thunder Bay Mining District in Ontario. Channel sample results from the pegmatite include 2.57 percent lithium oxide over 6.4 metres, 4.23 percent lithium oxide over 7.25 metres and 1.98 percent lithium oxide over 7.5 metres.
  • The company is led by an experienced management team with a proven track record of advancing prospective projects with low technical risk in established mining jurisdictions.

Key Projects

Raleigh Lake

International Lithium Drilling at Raleigh Lake

Drilling at Raleigh lake

The flagship Raleigh Lake project is a fully-owned lithium, rubidium and caesium project located immediately west of Ignace in Ontario, Canada. The Raleigh Lake project spans 47,700 hectares and is accessible via the Trans-Canada Highway. The project also features access to the Canadian Pacific railway, natural gas pipelines and a hydropower line that crosses through the property.

Drilling on the property first began in April 2021 which returned promising grades of lithium, sizable amounts of rubidium and small amounts of caesium. Drilling identified mineralization hosted in at least four main pegmatites and more observed in outcrops. Drill results include 2.80 of lithium oxide over 9.0 metres as well as 1.05 metres grading 2.69 percent lithium oxide from 31.04 metres and 1.18 metres grading 4210 ppm rubidium from 29.86 metres within a 3.78-metre interval grading 1.72 percent lithium oxide and 2829 ppm rubidium.

International Lithium focused in 2021 on evaluating the regional potential for additional lithium bearing pegmatites in and around the Raleigh Lake area and has as a result expanded the project from 3000 hectares to more than 47,700 hectares, based on analysis of regional geophysical and geological data. The company is planning on conducting further ground surveys, drilling, chemical analyses and financial analysis for the remainder of 2021 and into 2022. Going forward, the company hopes to produce a Maiden Resource Estimate on the project in 2022. This will allow the company to determine the full scale and economics of the mineral potential.

International Lithium Pegmatite Outcrop Uncovered

Pegmatite outcrop uncovered at the White Otter prospect, Raleigh Lake project area.

Mavis Lake

The Mavis project is a joint venture and royalty lithium and caesium project located 15 kilometres northeast of Dryden, Ontario. The property spans 2,624 hectares and is accessible via the Trans-Canada Highway. Mavis Lake features mineralization hosted by mafic metavolcanic rocks. Drilling returned 1.70 percent rare metal mineralization in zoned pegmatites including lithium oxide over 26.30 metres as well as 2.97 percent lithium oxide over 7.70 metres.

International Lithium owns 49 percent of the Mavis Lake project and 1.5 percent NSR while Essential Metals Ltd. owns 51 percent of the project. Essential Metals Ltd. has the option to earn up to 80 percent by funding C$8.5 million in exploration expenditures. This scenario would leave International Lithium with 20 percent in the project.

The Mavis Lake property is currently under an option for sale until January 2022 to Critical Resources Ltd. to purchase 100 percent of the property. If the option is exercised, International Lithium’s NSR would no longer be in effect. International Lithium would be entitled to approximately C$1.476 million of cash and shares in Critical Resources Ltd. The company may be entitled to up to C$1.384 million if resource discovery milestones are achieved.

Avalonia

Spodumene in boulder at Avalonia

Spodumene in boulder at Avalonia

The Avalonia project is a joint venture lithium project located in Leinster, Ireland. The property spans 29,200 hectares covering a 50-kilometre belt with around 29 significant lithium pegmatite occurrences. Drilling on the Avalonia project returned 2.23 percent lithium oxide over 23.3 metres including 3.43 percent lithium oxide over 6.0 metres and 1.50 percent lithium oxide over 5.60 metres. However, some drill results on the property are still pending.

International Lithium currently owns 45 percent of the project while Ganfeng Lithium owns 55 percent. Ganfeng Lithium has the option to acquire 79 percent of the project by spending C$10 million for exploration activities by September 2024 or by producing a positive feasibility study. If the option is exercised, International Lithium will retain 21 percent of the Avalonia project which may reduce further if the company does not contribute to the project. However, if the company’s ownership becomes less than 10 percent then its share will convert to a 1 percent NSR.

Forgan Lake

The Forgan Lake project is a fully-owned lithium project located 125 kilometres northeast of Thunder Bay, Ontario. The project spans 256 hectares in the Thunder Bay Mining District. Forgan Lake features mineralization hosted in pegmatite. Channel sample results from the pegmatite include 2.57 percent lithium oxide over 6.4 metres, 4.23 percent lithium oxide over 7.25 metres and 1.98 percent lithium oxide over 7.5 metres.

In September 2018, International Lithium entered into a sale and royalty agreement with Ultra Resources Inc. The agreement granted Ultra Resources the option to earn up to 100 percent in the Forgan Lake project should they pay $191,000 and spend $500,000 on exploration in a combination of cash and shares over three years. International Lithium will retain a 1.5 percent NSR on any future production of Forgan Lake as well as from an adjoining property, called Lucky Lake, owned by Ultra Resources Inc.

Management Team

John Wisbey - Chairman and CEO

John Wisbey joined the board of ILC in 2017. After a few months, he became deputy chairman and then he became chairman and CEO in March 2018. He has personally invested significant funds in ILC since joining the board and is now ILC’s largest shareholder. He has had a career as a technology entrepreneur and is also a former banker. More recently, Wisbey was a green energy entrepreneur. He founded two London AIM-listed companies –– IDOX plc which provides software for the UK local government and Lombard Risk Management plc which specializes in software for bank risk management and regulation. He also established CONVENDIA Ltd. which is a private company that specializes in software for cash flow forecasting, project valuation and M&A financial analysis. Wisbey holds various non-executive director roles in the UK and Switzerland. He was formerly a banker at Kleinwort Benson. At Kleinwort Benson, he held various roles, including a director in the derivatives group, head of options and corporate lending. Wisbey has acted as a public company chairman, CEO or director for twenty years. He is a graduate of Cambridge University.

Maurice Brooks - Director and CFO

Maurice Brooks joined the board of ILC in 2017. He is a licensed senior statutory auditor in the UK. Since 2000, he has been a senior partner at Johnson Smith & Co. in Staines, Surrey. Before that, Brooks was a senior partner in Johnsons Chartered Accountants in the London Borough of Ealing. His commercial and investment experience includes executive directorships in manufacturing and an investment accountant role to the superannuation fund of the Western Australian state government. His early professional employment includes Ball Baker Leake LLP and LLC and Price Waterhouse Coopers-UK.

Anthony Kovacs - Director and COO

Anthony Kovacs joined the board of ILC in 2018 and has worked with the company since 2012. He has over 25 years of experience in mineral exploration and development. Before joining ILC, he held senior management roles in which he sourced and advanced iron ore and industrial minerals projects. Kovacs was involved in early-stage work at the Lac Otelnuk Iron Ore project in Quebec, Canada and the Mustavaara Vanadium Mine in Finland. Before that, Kovacs worked for Anglo American where he focused on Ni-Cu-PGE and IOCG projects. At Anglo-American, Kovacs was directly involved in several discoveries internationally. Kovacs has significant experience with industrial minerals, ferrous metals, non-ferrous metals and precious metals projects throughout the Americas, Europe and Africa.

Ross Thompson - Non-Executive Director

Ross Thompson joined the board of ILC in 2017 and is the chair of the audit and remuneration committees. He is a speaker and expert in marketing behavioural science. In 1995, he founded Giftpoint Ltd. which is now one of the largest specialist promotional merchandise businesses in the UK. with offices in London and Shanghai. Giftpoint Ltd.’s clients include L’Oreal, Oracle, Ocado and Pernod Ricard among others. Thompson was president of IGC Global Promotions, one of the world’s oldest and largest global networks of premium resellers, for seven years. He is an active investor with a special interest and understanding of natural resources businesses.

*Disclaimer: This profile is sponsored by International Lithium ( ILC:CA ). This profile provides information which was sourced by the Investing News Network (INN) and approved by International Lithium in order to help investors learn more about the company. International Lithium is a client of INN. The company's campaign fees pay for INN to create and update this profile.

INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.

The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with International Lithium and seek advice from a qualified investment advisor.

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