
May 19, 2024
Ongoing data digitisation reveals additional high priority targets
White Cliff Minerals Limited (“the Company”) (ASX: WCN) is pleased to provide an update on its activities as it prepares for its upcoming maiden field campaign in Northwest Territories and Nunavut, Canada. The Company has now prioritised a number of highly prospective targets, which includes additional targets from the initial review of the southern half of the Great Bear Lake Project, Northwest Territories, as new areas are realised through the digitisation and GIS integration of historic datasets.
Highlights:
- Priority targets will include:
- Thompson Showing: a high-grade polymetallic area south of the historic Echo Bay and Eldorado mines that includes untested U anomalies from prior airborne radiometry surveys. Historic rock chips include 14.15% U3O8, 6.22g/t Au, 122g/t Ag.
- Hunter Bay Extension (Sloan): The target is immediately along strike from the historic (non JORC/NI 43-101) estimate of 100,000t at 8.4% Cu at the Sloan Deposit1. Limited sampling in 2006 returned up to 1.69% Cu and 321ppm U3O8 along the NE extension of the vein complex.
- Sparkplug Lake: An E/W trending structure adjacent to an obvious caldera collapse feature similar to the NICO and Sue Dianne IOCG deposits2. Historic grab samples span a strike length of 1.8km returning up to 8.28g/t Au, 44g/t Ag and 3.97% Cu. Several structures of similar orientation exist for a further 2.5km south.
- Spud Bay: Lies along strike from the historic Bonanza Silver Mine3, striking NW/SE between granite and monzodiorite hosts several high grade, Ag, Cu, Co, Zn occurrences. Historic grab samples include 11.7% Cu, 8.3% Zn and 1330g/t Ag and 22.7% Cu and 619g/t Ag.
- Evidence of IOCG and epithermal style mineralisation have been identified in the southern half of the Great Bear Lake Project generating new and additional priority targets:
- Luv Lake: Located 8 km NE of the historic Terra silver mine, a 3km2 IOCG target with historical rock chips that include 10.4% Cu and 23g/t Ag
- OMNI: Located 9.3km east of the Luv Lake target area, a quartz stockwork hosted Au-Cu with historical rock chips that include 5.4% Cu and 4g/t Au
- HD44: Located just 5km SW of the Terra Mine, a polymetallic quartz-carbonate epithermal out cropping vein with historical rock chips that include 2.18% Cu, 1.95% Co and 22.26% Bi
Commenting on the update, White Cliff Managing Director, Troy Whittaker said:
“Historic rock chips results from the southern parts of the Great Bear Lake Project have continued to reveal an underexplored, district scale opportunity which will be assessed during the upcoming 2024 field work. Whilst works continue on this review, these initial results continue to demonstrate the district and regional potential of the entire Project area.
Integration of this historic data, coupled with observations and sample results from the upcoming field program alongside outputs from the MobileMT survey will provide a robust dataset for drill target definition. The diligent and exceptional work done by the team has allowed us to rank priority targets across the Great Bear Lake Project which allow for efficient and appropriate provision of field works and capital allocation ahead of the 2024 season.
Given the target rich environment, and different advancing stages of exploration across the Project, the Company is now in an envious position where it can progress and develop a pipeline of targets“.
Click here for the full ASX Release
This article includes content from White Cliff Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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5h
Livium Expands Clean Energy Waste Recycling Capabilities
5h
Green Technology Metals: Delivering the Next Lithium Hub in North America
Green Technology Metals (ASX:GT1) is progressing Ontario’s first integrated lithium business, anchored by its Seymour, Root, and Junior projects, with plans to supply a proposed lithium hydroxide facility in Thunder Bay.
GT1 is leveraging Canadian policy support for critical minerals, with Ontario’s Building More Mines Act and federal programs. The company has secured conditional approval for C$5.5M from the Critical Minerals Innovation Fund (CMIF) for Seymour infrastructure, a C$100M financing LOI from Export Development Canada, and has pending applications with SIF/NRCan and CMIF Round 2, including C$5M tied to Root. These mechanisms help de-risk financing and advance development.
GT1’s three-phase strategy starts with Seymour production using a DMS concentrator, followed by construction of the Thunder Bay lithium hydroxide facility with EcoPro Innovation, and finally, development of Root as a larger, long-life mining hub feeding Thunder Bay.
Company Highlights
- Integrated strategy in Ontario: The Seymour and Root projects form the foundation for a vertically integrated lithium business, supported by a proposed lithium hydroxide plant in Thunder Bay, Ontario, with rail, port, power, gas and water access.
- Marketing and offtake secured: LG Energy Solution has a binding offtake for 25 percent of Seymour concentrate and has invested directly into the company, demonstrating strong downstream demand.
- Strategic process partner: EcoPro Innovation is co-developing the conversion facility. Pilot work has already produced battery-grade lithium hydroxide with high recoveries.
- Government backing: GT1 has secured conditional approval for significant funding programs, including C$5.5 million for road upgrades, a C$100 million project financing support LOI from EDC, and additional CMIF and SIF applications.
- Resource base: A combined inventory of over 30 Mt @ ~1.2 percent lithium oxide across Seymour and Root, providing both near-term production and long-life scale.
- By-product upside: Seymour hosts a significant rubidium resource in mica streams that could be recovered alongside lithium, creating an additional revenue line.
This Green Technology Metals profile is part of a paid investor education campaign.*
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9h
Green Technology Metals
Investor Insight
Green Technology Metals aims to build Ontario’s first integrated lithium business, developing two mining hubs and a downstream conversion facility to supply North America’s fast-growing EV and battery industry. The company’s approach is straightforward: bring Seymour into production, secure the downstream footprint at Thunder Bay with EcoPro, and then layer in Root as a long-life second feed. The plan is underpinned by offtake agreements, government funding and a management team with direct experience building lithium mines.
Overview
Green Technology Metals (ASX:GT1) is building Ontario, Canada’s first integrated lithium business, anchored by three upstream assets and a planned downstream conversion facility. The portfolio consists of the flagship Seymour project, the large-scale Root lithium project, and the Junior exploration project, which together provide a clear pipeline of feed into a proposed lithium hydroxide facility in Thunder Bay, Ontario.
The company is actively leveraging Canadian policy support for critical minerals development and supporting a growing number of EV and battery manufacturers in Ontario. The province’s Building More Mines Act, alongside several federal programs, is creating a supportive funding environment for new projects. GT1 has already received conditional approval for C$5.5 million from the Critical Minerals Innovation Fund (CMIF) to support road and infrastructure upgrades at Seymour. In addition, the company has received a letter of intent for a C$100-million project financing support from Export Development Canada, and has pending applications with SIF/NRCan and CMIF Round 2, including a C$5-million submission tied to the Root project. These mechanisms substantially de-risk the financing path and provide tangible momentum toward development.
The strategy is being executed in three phases. First, Seymour will be brought into production with a concentrator based on a dense media separation flowsheet, taking advantage of coarse spodumene mineralogy and proven metallurgical performance. Second, GT1 will construct the Thunder Bay lithium conversion facility in partnership with EcoPro Innovation, replicating proven hydrometallurgical technology to produce battery-grade lithium hydroxide. Finally, Root will be developed as the company’s second, larger mining hub, designed to provide long-life scale and additional feed into the Thunder Bay facility.
Pilot processing of 600 kg of Seymour concentrate produced exceptional overall recoveries averaging >94 percent.
Strategic partnerships reinforce this integrated model. LG Energy Solution has secured a binding offtake for a portion of Seymour’s concentrate production and has invested directly into GT1, providing early validation of the project’s place in the EV supply chain. EcoPro Innovation, as the company’s technical partner on the Thunder Bay facility, has already piloted Seymour concentrate into high-purity lithium hydroxide.
Company Highlights
- Integrated strategy in Ontario: The Seymour and Root projects form the foundation for a vertically integrated lithium business, supported by a proposed lithium hydroxide plant in Thunder Bay, Ontario, with rail, port, power, gas and water access.
- Marketing and offtake secured: LG Energy Solution has a binding offtake for 25 percent of Seymour concentrate and has invested directly into the company, demonstrating strong downstream demand.
- Strategic process partner: EcoPro Innovation is co-developing the conversion facility. Pilot work has already produced battery-grade lithium hydroxide with high recoveries.
- Government backing: GT1 has secured conditional approval for significant funding programs, including C$5.5 million for road upgrades, a C$100 million project financing support LOI from EDC, and additional CMIF and SIF applications.
- Resource base: A combined inventory of over 30 Mt @ ~1.2 percent lithium oxide across Seymour and Root, providing both near-term production and long-life scale.
- By-product upside: Seymour hosts a significant rubidium resource in mica streams that could be recovered alongside lithium, creating an additional revenue line.
Key Projects
Seymour Lithium Project
The Seymour lithium project, near Armstrong, Ontario, contains a total resource of 10.3 million tonnes (Mt) @ 1.03 percent lithium oxide, including 6.1 Mt indicated @ 1.25 percent lithium oxide. Mineralization is hosted in the North and South Aubry pegmatites, which remain open along strike and at depth. An optimized preliminary economic assessment (PEA) demonstrated strong project economics based on a DMS-only concentrator producing 130 ktpa. Key numbers include a C1 cash cost of US$680/t, an after-tax NPV of US$251 million, an IRR of 33 percent, and a three-and-a-half-year payback.
The project benefits from existing road and rail access, low strip ratios, and simple metallurgy with coarse spodumene that responds well to dense medium separation (DMS). Mining leases were granted in August 2025, the environmental assessment submission has been lodged, and the closure plan is nearing completion.
An offtake agreement with LG Energy Solution secures sales for 25 percent of initial concentrate production. Seymour also includes a maiden rubidium resource (8.3 Mt @ 0.27 percent rubidium oxide, with a 3.4 Mt high-grade core at 0.40 percent), which can be recovered from mica streams already separated in the flow sheet, creating potential for a by-product circuit.
Thunder Bay Lithium Conversion Facility
GT1 and EcoPro Innovation are developing a lithium hydroxide monohydrate facility in Thunder Bay. The selected site is fully serviced with rail access, 44 kV power, municipal water and gas, and port facilities. The plant will replicate EcoPro’s operating hydromet trains, with two parallel ~13 ktpa back-end lines designed to scale with Seymour and Root concentrate supply.
Pilot-scale processing of 600 kg of Seymour concentrate at EcoPro’s Pohang facility achieved battery-grade lithium hydroxide, meeting downstream specifications with >94 percent overall recovery. This demonstration significantly de-risks the conversion step and supports ongoing financing discussions with Invest Ontario, SIF and EDC. The project is being advanced through PFS-level engineering, with permitting and JV structuring underway.
Root Lithium Project
Located in Northwestern Ontario, Root is GT1’s scale project, hosting 14.6 Mt @ 1.21 percent lithium oxide (10.0 Mt Indicated @ 1.32 percent). The April 2025 optimized PEA outlined a combined open-pit and underground mining scenario producing ~213 ktpa. The project carries a C1 cost of ~US$677/t, an after-tax NPV of US$668 million, an IRR of 53.5 percent, and a three-year payback.Root enjoys outstanding infrastructure advantages: road and rail access, proximity to port, and most critically, grid hydro power delivered by the Watay transmission line, reducing both operating costs and upfront capex for power infrastructure. Drilling has confirmed stacked pegmatite bodies that remain open along strike and down dip, leaving scope for significant resource expansion. A bulk sample has been completed, with further testwork and pilot runs at EcoPro planned. Permitting is in its early stages, with a PFS targeted for 2026 and potential construction by late 2027.
Junior Lithium Project
The Junior project is located near Seymour and contains three drill-ready targets. Its proximity to the planned Seymour concentrator makes it a strategic satellite project, with the potential to extend Seymour’s mine life and provide incremental feed. Drilling is expected to test these targets in upcoming campaigns, potentially increasing the overall feed available for the Seymour hub.
Management Team
John Young – Non-executive Chairman
John Young co-founded Pilbara Minerals and played a key role in transforming it into a multi-billion-dollar lithium producer. His background as a geologist spans more than three decades, with significant contributions across discovery, development and financing of lithium and gold projects. At GT1, Young provides strategic oversight and proven operational expertise to scale a lithium developer into a fully integrated producer.
Cameron Henry – Managing Director
Cameron Henry was appointed managing director in June 2024, stepping up from his earlier role as executive director. A founder and substantial shareholder of GT1, Henry has over 20 years’ experience in minerals processing and project delivery. Prior to GT1, he built Primero Group into a respected global leader in lithium infrastructure EPC, successfully executing major projects in Australia and globally. His role is to drive Seymour into production and to lead the execution of the Thunder Bay downstream strategy.
Patrick Murphy – Non-executive Director
Patrick Murphy brings nearly two decades of experience in resource sector investment and deal-making. He has held senior positions at Macquarie and AMCI Group, with expertise in capital deployment, project financing and strategic partnerships. His presence on GT1’s board ensures strong connectivity to the financial community and a disciplined approach to structuring project funding.
Robin Longley – Non-executive Director
With more than 30 years of experience in exploration and project evaluation, Robin Longley is a seasoned geologist who has led successful exploration and development programs across lithium, gold and other critical minerals in Australia, Canada and Africa. His practical technical knowledge and management experience strengthen GT1’s ability to evaluate and expand its Ontario portfolio.
Han Seung Cho – Non-executive Director
Representing EcoPro Innovation, Han Seung Cho serves as a direct link between GT1 and its strategic partner on the Thunder Bay conversion facility. As general manager of EcoPro’s strategic business team, he brings decades of experience in lithium procurement, downstream offtake structuring, and project development for LHM plants. His position ensures that GT1’s downstream ambitions remain closely aligned with end-user requirements in the battery sector.
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23h
Livium Signs Binding Term Sheet with Iondrive related to DES Technology for Clean Energy Waste Recycling
Livium Ltd (ASX: LIT) ("Livium" or the "Company") is pleased to announce it has signed a binding term sheet (“Term Sheet”) with Iondrive Limited (ASX: ION) (“Iondrive”), an Australian company developing an innovative metal extraction process using Deep Eutectic Solvent technology (DES), via their subsidiary Iondrive AU Pty Ltd.
HIGHLIGHTS
- Livium has signed a binding Term Sheet with Iondrive to advance the recycling of clean energy waste using Iondrive’s innovative Deep Eutectic Solvent (DES) technology
- Livium will supply Iondrive with end-of-life solar panels, lithium-ion battery black mass, rare earth element (REE) magnets, to support evaluation of Iondrive's high-recovery DES process
- Partnership combines Livium’s customer and feedstock access with Iondrive’s novel technology, positioning both to become leaders in Australian clean energy waste processing
- Partnership compliments the recently announced collaboration with the University of Melbourne1, which also relies on the sourcing of waste by Livium
- This significant step further advances Livium’s strategic aim of deploying its recycling capabilities into broader waste markets
In accordance with the Term Sheet, Livium will supply Iondrive with a range of end-of-life materials, including solar panels, lithium-ion battery black mass, rare earth magnets, and other samples. This collaboration will support the continuous development and commercialisation of Iondrive’s DES process, which already demonstrates over 95% recovery rates in testing and offers a sustainable, closed-loop alternative to conventional methods2.
This deal, which follows the recently announced partnership with the University of Melbourne, is a significant step in strengthening the Company’s recycling capabilities across a range of adjacent market opportunities. The results of these programs will inform techno-economic assessments and pave the way for future commercial supply and co-location agreements.
Summary of Key Terms:
- Livium will provide Iondrive with defined waste streams of solar panels, lithium-ion battery black mass, rare earth magnets, and other samples.
- Iondrive will apply its DES processes to evaluate recovery pathways and commercial scalability.
- Iondrive will retain ownership of all DES intellectual property (IP) and results, Livium retains IP in Sample generation.
- Both parties will use their best endeavours to commence negotiations of binding commercial agreements for supply and co-location of DES processing units within 21 months.
- The Term Sheet includes limited exclusivity provisions in Australia during the evaluation period.
- Either party may terminate the agreement on 30 days’ notice, subject to customary conditions.
Adjacent Market Opportunities
Australia's transition to a clean energy future is creating a wealth of adjacent market opportunities in e-waste recycling, with the country's early adoption of renewable technology now generating a substantial and growing stream of end-of-life products.
The most prominent of these is solar panel (PV) recycling, where an estimated 100,000 tonnes of PV waste is projected annually by 20303, creating a significant feedstock opportunity for a nascent industry. Australia stands to unlock over A$1 billion in recoverable materials from end-of-life solar panels by 20354. Capturing this market domestically presents a major opportunity to secure a local supply of critical minerals like lithium, cobalt, and nickel.
The market for lithium-ion battery black mass recycling also represents a major growth opportunity within the circular economy. As a key component of end-of-life batteries, black mass is rich in critical minerals such as lithium, cobalt, and nickel. The global market, valued at US$14.4 billion in 2024, is projected to surge to US$51.7 billion by 20325, driven by the explosive adoption of electric vehicles and a global push for sustainable supply chains.
Beyond solar and batteries, the growing e-waste stream is also creating a business case for rare earth element (REE) recycling. While the global REE recycling market is still relatively small, valued at around US$248 million in 2021, it is projected to surpass US$422 million by 20266. This growth is driven by the demand for magnets in EVs and wind turbines, coupled with a global push to reduce reliance on primary REE mining and strengthen supply chain security. Despite low current recycling rates of less than 1%, the high value and critical importance of REE elements create a strong commercial incentive to develop innovative recycling solutions in Australia, ultimately helping to close the loop on the nation's strategic mineral supply.
Click here for the full ASX Release
This article includes content from Livium Ltd, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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10 September
CATL Mine Restart Pressures Australian Lithium Market
Australia’s lithium sector is facing pressure on the back of news that Chinese battery giant Contemporary Amperex Technology (CATL) (SZSE:300750,HKEX:3750) is expected to resume production at its Jianxiawo mine.
Operations were halted in August when the mine’s licence expired, with the suspension expected to last three months.
Located in Yichun, Jiangxi province, Jianxiawo produces about 65,000 tonnes of lithium carbonate equivalent annually, roughly 6 to 8 percent of global supply. It is the largest mine in Yichun, often referred to as China’s “lithium capital.”
The restart is expected to tighten competition for Australian producers, which had briefly benefited from the closure and from renewed interest in non-Chinese supply following tariffs announced by US President Donald Trump.
ASX lithium stocks take a hit
ASX lithium stocks saw share price declines after news of the CATL restart hit, with Liontown Resources (ASX:LTR) falling nearly 17 percent and losing more than half of what it gained after the mine was suspended.
Even mining giants BHP (ASX:BHP,NYSE:BHP,LSE:BHP) and Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) succumbed to the situation, with both seeing 1.7 percent drops on Wednesday (September 10).
Pilbara Minerals (ASX:PLS,OTC Pink:PILBF) saw a significant decrease as well, dropping 15 percent. MarketScreener states that this was the company’s worst daily performance since June 1, 2022.
Mineral Resources (ASX:MIN,OTC Pink:MALRF) also experienced a drop, falling 8 percent.
These miners have been making strategic moves toward addressing lithium demand.
Rio Tinto acquired Arcadium Lithium in March and is progressing its Rincon project in Argentina.
In August, Mineral Resourced entered into a joint venture with Livium (ASX:LIT) to commercialise the LieNA lithium-processing technology, which is designed to recover lithium from spodumene.
In its latest financial report, Pilbara Minerals underlined progress at its Colina project, which it secured through its acquisition of Latin Resources. As of 2025, Pilbara Minerals’ Pilgangoora mine has dethroned the Greenbushes mine in terms of resource size, at 446 million tonnes at 1.28 percent lithium oxide.
For its part, Liontown commenced commercial production at its Kathleen Valley plant in January. Kathleen Valley produced over 300,000 wet metric tonnes of spodumene concentrate during its first 11 months of operation.
Australia taking steps to support lithium
While the lithium sector remains susceptible to market changes, the Australian government has been making an effort to help mining companies move their projects forward.
Among these is the Battery Breakthrough Initiative, announced in the 2024/2025 federal budget. It seeks to provide AU$500 million in funding to promote the development of battery-manufacturing capabilities in Australia.
The Battery Breakthrough Initiative forms part of the Future Made in Australia agenda, and may provide funding through capital grants, production incentives and the like.
Western Australia has an incentive of its own called the Lithium Support Program, aiming to provide AU$150 million in lithium support via a loan facility for miners and the waiving of port charges and mining tenement fees.
A recent study from the Geological Survey of Western Australia, Curtin University and the University of Western Australia states that Western Australia supplies around 35 percent of the world's lithium, highlighting its potential.
The federal government also passed the Critical Minerals Production Tax Incentive in February to provide a 10 percent tax break on processing and refining costs for critical minerals, including lithium.
“The incentives are valued at AU$7 billion over the decade,” said Federal Resources Minister Madeleine King, calling the legislation a “historic moment” for the industry.
The incentive is applicable from 2028 to 2040, for up to 10 years per project.
There’s also the National Reconstruction Fund (NRF) and Critical Minerals Facility. The latter’s initial AU$2 billion amount has been doubled to AU$4 billion, plus new investments through the NRF.
Included in the NRF’s recent investments is AU$50 million to support Liontown’s Kathleen Valley.
Fastmarkets was optimistic about the lithium landscape in a February report, projecting that the surplus will shrink to 10,000 tonnes in 2025. After that, it anticipates a deficit of 1,500 tonnes in 2026.
“We’re expecting a rebalancing of market dynamics over the next few years,” a producer told the firm.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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09 September
International Lithium Corp.
Investor Insight
International Lithium offers investors exposure to the growing critical metals sector through its advanced-stage Raleigh Lake lithium-rubidium project in Ontario, early-stage copper-cobalt exploration at Firesteel in Ontario, and strategic focus on Southern Africa, all supported by strong infrastructure and a seasoned leadership team.
With strategic divestments, a robust financial position, and a focused growth strategy, International Lithium is well-positioned to meet the rising demand for lithium and other critical metals
Overview
International Lithium (TSXV:ILC,OTC:ILHMF,FRA:IAH,OTCQB:ILHMF) is a Canada-based mineral exploration company focused on the discovery and development of lithium and other critical metals essential for the transition to a cleaner, greener planet. With a portfolio of projects located in mining-friendly jurisdictions, the company’s primary objective is to build shareholder value by advancing its key assets towards production while expanding its presence in emerging critical metals regions.
International Lithium's flagship asset is the 100 percent owned Raleigh Lake lithium and rubidium project in Ontario. A preliminary economic assessment (PEA) for the Raleigh Lake project, completed in December 2023, demonstrated strong project economics and significant resource growth potential, including an annual after-tax cash flow of C$634 million, NPV of C$342.9 million and IRR of 44.3 percent, with a nine-year mine life and project duration of 11 years. This assessment did not yet include rubidium, which represents significant additional potential pending further market analysis.
Complementing its lithium focus, the company is advancing the Firesteel copper-cobalt project in northwestern Ontario, targeting high-grade base metal mineralization to further diversify its critical metals exposure.
In addition to its Canadian projects, International Lithium is positioning for further international growth with a strategic focus on Southern Africa. It has applied for exclusive prospecting orders (EPOs) in Zimbabwe, one of the world's most prospective regions for hard rock lithium exploration.
Recent strategic divestments, including the sale of the Avalonia project stake, have strengthened ILC's financial position, enabling focused investment in its core projects.
In 2025, International Lithium acquired an option from Lepidico (Canada) Inc. to purchase 100 percent of Lepidico (Mauritius) for C$975,000. Lepidico Mauritius holds an 80 percent stake in Lepidico Chemicals Namibia (Pty) Ltd., which owns the Karibib Lithium, Rubidium and Cesium Project in Namibia.
The project comprises two areas with fully permitted mining licences, known as Rubicon and Helikon. It also hosts one of the largest disclosed rubidium resources in Africa, along with significant lithium and cesium mineralization.
Exercising the Karibib option would position International Lithium to capitalize on an upswing in the lithium market while also cementing its role as one of the leading global players in rubidium. The project would expand its portfolio of some of the most significant cesium resources held by any non-Chinese company, strengthening its standing in three critical minerals that are increasingly vital to global supply chains.
The company is led by an experienced management team with a strong technical background in mineral exploration, project development and corporate finance. Supported by access to established infrastructure, a commitment to sustainable development practices, and a clear strategic focus, International Lithium is well-positioned to capitalize on the increasing global demand for lithium and other essential materials critical to the clean energy transition.
Company Highlights
- International Lithium is focused on developing lithium and critical metals projects in Canada and Southern Africa, aiming to deliver shareholder value through project development, strategic partnerships and project sales.
- Raleigh Lake is ILC’s wholly owned flagship lithium-rubidium project in Ontario, Canada, with a positive PEA completed in December 2023.
- ILC holds a 90 percent interest in the Firesteel copper and cobalt project in Northwestern Ontario, with exploration permits filed and drilling programs planned.
- The company has applied for exclusive prospecting orders (EPOs) in Zimbabwe and is continuing to review further exploration opportunities in Southern Africa.
- ILC is debt-free with a robust financial position. It has monetized its non-core assets, including the sale of its stake in the Avalonia project in Ireland, resulting in a C$2.5 million payment and a 2 percent net smelter royalty.
- ILC secured an option to acquire 100 percent of Lepidico (Mauritius), which owns an 80 percent interest in Lepidico Chemicals Namibia, the owner of the Karibib Lithium, Rubidium and Cesium Project in Namibia.
- The company is led by an experienced management team with a proven track record in advancing mineral exploration projects.
Key Projects
Raleigh Lake
The Raleigh Lake project is ILC’s flagship asset, located approximately 25 kilometres west of Ignace, Ontario. The project covers a contiguous land package of 32,900 hectares and is 100 percent owned by the company. Raleigh Lake benefits from excellent infrastructure access, situated near the Trans-Canada Highway, a Canadian Pacific Railway line, and existing natural gas and hydroelectric infrastructure.
Major public infrastructure relative to the Raleigh Lake project
Raleigh Lake is notable for its dual potential to host both lithium and rubidium mineralization. The lithium is found primarily in spodumene-bearing pegmatites, while rubidium is associated with microcline-rich zones of the same lithium-cesium-tantalum pegmatite system. In 2023, International Lithium published a maiden mineral resource estimate (MRE) that delineated significant resources for both lithium and rubidium using separate cutoff criteria.
For lithium (Li₂O), the project hosts a measured and indicated resource of 5.88 Mt grading 0.79 percent Li₂O, and an inferred resource of 2.07 Mt grading 0.77 percent Li₂O, primarily within pegmatite #1. This lithium resource forms the basis of the company’s PEA, which demonstrated robust project economics with an after-tax NPV (8 percent) of C$342.9 million and an IRR of 44.3 percent.
The rubidium component, though not included in the PEA due to current market constraints, represents an additional potential value stream. The company has reported a measured and indicated resource of 133,000 tons at 6,163 ppm rubidium (0.67 percent Rb₂O) and an inferred resource of 123,000 tons at 4,224 ppm rubidium (0.46 percent Rb₂O), using a 4,000 ppm cutoff. The rubidium zones are found in association with potassic feldspar, offering a potentially recoverable byproduct pending further market and technical evaluation.
Given the project’s strong infrastructure position, mineral endowment, and defined development path, Raleigh Lake represents a compelling advanced-stage opportunity in North America's lithium supply chain. International Lithium is continuing infill and expansion drilling, environmental baseline studies, and metallurgical testing to support project advancement toward pre-feasibility.
Firesteel Project
The Firesteel project is an early-stage copper-cobalt exploration property located in northwestern Ontario, approximately 10 km west of Upsala along Highway 17. Spanning a 16-km corridor to the Firesteel River, the property lies within a geologically favorable region characterized by Archean metavolcanic and metasedimentary rocks, which are prospective for volcanogenic massive sulphide (VMS) and sedimentary copper systems.
International Lithium completed the acquisition of a 90 percent interest in the Firesteel project in May 2024, aiming to diversify its critical metals portfolio beyond lithium. Historical sampling on the property has returned encouraging results, including copper assays up to 2.6 percent and cobalt values reaching 309 ppm. Notably, the "Roadside 1" occurrence features semi-massive sulphide mineralization comprising pyrite, pyrrhotite, chalcopyrite and bornite. These findings suggest the presence of a highly metamorphosed VMS or sedimentary copper system, potentially up to 20 meters wide and extending over a kilometer in length.
The project's proximity to major infrastructure, including highways and railways, coupled with its strategic location near the company's Raleigh Lake project, enhances its development potential. International Lithium plans to conduct systematic exploration, including geochemical sampling and geophysical surveys, to refine targets for future drilling campaigns.
Wolf Ridge Project
Wolf Ridge is a 5,700-hectare grassroots lithium project located 20 km southwest of Upsala and near ILC’s Firesteel copper claims. The area benefits from excellent infrastructure, including proximity to Highway 17, power, and road access.
The project was highlighted by the Ontario Geological Survey (2021–2022) for its standout lake sediment anomalies - among the highest lithium values in the region - indicating strong potential for LCT pegmatite mineralization.
Read more on page 54 of the report here.
Southern Africa Exploration Initiative
Southern Africa is recognized as a prospective region for hard rock lithium, and International Lithium’s strategic focus reflects a proactive move to establish a presence in this emerging jurisdiction.
As part of its strategy to expand its critical metals footprint, International Lithium has applied for Exclusive Prospecting Orders (EPOs) over several prospective areas in Zimbabwe. The targeted regions are known for hosting spodumene, lepidolite and petalite-bearing pegmatites, indicating potential for significant lithium resources.
Although the EPO applications are still pending approval, the company has already conducted initial due diligence, including geological reviews and desktop studies, to prioritize exploration targets once access is granted. Zimbabwe’s growing importance as a global lithium supplier, combined with favorable mining policies, offers a compelling backdrop for the company's expansion efforts. International Lithium intends to leverage its technical expertise and exploration experience to quickly evaluate and develop these opportunities upon receiving the necessary permits
Management Team
John Wisbey – Chairman and CEO
John Wisbey joined International Lithium in 2017, initially serving as deputy chairman before being appointed chairman and CEO in March 2018. Under his leadership, the company has undergone a significant transformation, including achieving 100 percent ownership of the Raleigh Lake project, divesting non-core assets, and expanding into new jurisdictions such as Zimbabwe. He founded two London AIM-listed companies: IDOX, which provides software for the UK local government; and Lombard Risk Management, which specializes in software for bank risk management and regulation. He also established CONVENDIA, a private company that specializes in software for cash flow forecasting, project valuation and M&A financial analysis. With a background in banking and financial technology entrepreneurship, Wisbey brings extensive experience in corporate leadership and strategic development. He is also the company's largest shareholder.
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 in 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 behavioral 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.
Geoffrey Baker – Non-executive Director
Geoff Baker joined the board of ILC at the end of 2022 and is a member of the audit committee. He has a career in the natural resource and finance industries. He is a director of Tim Trading, a company offering consultancy services in the oil and gas industry. During his tenure as manager of Insch Black Gold Funds, Baker received the Investors' Choice Swiss Fund Manager of the Year Award. He is a co-founder of a digital collectible non fungible token CryptoChronic and of Cannastore, a pilot e-commerce website. Baker holds a bachelor's degree from the University of Windsor in Ontario.
Muhammad Memon – Corporate Secretary and Financial Controller
Muhammad Memon became corporate secretary of ILC in 2021. He has over 10 years of experience in managing finance and compliance functions of public companies in various sectors including mining exploration, investment management, real estate and technology. He assists companies with debt and equity financings, cash flow management and forecasting, legal and regulatory compliance, investor communications, stakeholder engagement and risk management. He is a member of the Chartered Professional Accountants of Canada and a fellow of the Association of Chartered Certified Accountants, United Kingdom.
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