RENO, Nev.--(BUSINESS WIRE)--Lithium Corporation (OTCBB: LTUM) (the "Company", or “Lithco”) is pleased to announce that it has recently acquired, at a nominal cost to the Company, a new lithium-brine property through staking in Washoe County, Nevada.
Lithium Corporation has been conducting preliminary surveys on the San Emidio playa for the past year and recently decided to stake a 1600 acre parcel of claims over the most prospective area of the playa. Geochemical sampling in 2010 indicated that the playa here contains elevated levels of lithium in sediments. Since this time the company has completed a subsurface brine survey which has outlined a lithium-in-brine anomaly, where lithium values range from 10 mg/liter up to a high of 66.4 mg/liter. This anomaly is about 1.6 miles long and has not been closed off in both directions along its long axis. This information corresponds well with the results from the gravity survey that was recently completed here, and which indicates the anomaly is proximal to an inferred fault that forms the margin of a strong basement low that the gravity survey has indicated occurs here. These elements coupled with the known geothermal resources in the valley possibly indicate it could be highly prospective for hosting a lithium-brine reservoir at depth.
Logistics are excellent at the San Emidio prospect as it lies only about 60 miles to the northeast of Reno, Nevada, is served by a network of various roads and is only about 8 miles by road from Nevada State Highway 447. Power is available in the valley, as there is a geothermal generating plant at the south end of the prospect.
The Company intends to begin the permitting process shortly on this prospect, and expects to conduct a short, shallow drilling program on the property early in 2012.
The Company is conducting ongoing Gravity geophysical surveys on several prospects, and is exploring options for drilling its Fish Lake Valley prospect, which has remained unusually wet throughout the year. The Company is also currently exploring or evaluating various other prospects. Additionally Lithium Corporation is expecting results from its recently completed Salt Wells drilling program within the next few weeks.
For further information please contact Samantha White at Lithium Corporation at (888) 299-3989 or via email at info@lithiumcorporation.com
About Lithium Corporation
Lithium Corporation is an exploration company based in Nevada devoted to the exploration for new lithium resources within the state of Nevada. The Company explores and develops potentially economic lithium-enriched brine fields, with an eye to becoming a long-term producer of this increasingly strategic and economically important commodity.
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