Elko, Nevada--(Newsfile Corp. - September 19, 2024) - Lithium Corporation (OTCQB: LTUM) ("LTUM" or "the Company"), a mineral exploration company focused on energy metals for the North American battery supply chain, is pleased to update investors on exploration activities undertaken over the past several months on the Company's new Las Pilas prospect.
Earlier in 2024, Lithium Corporation introduced the newly staked Las Pilas property that is prospective for hosting fluorspar mineralization. Fluorspar is critical to a low carbon future as a result of its use in all three main parts of an electric battery: cathode, electrolyte and anode. It is also essential to processing silicon for solar panels.
Since April, the Las Pilas property has more than doubled in size to over 11,000 acres (4,450 hectares) of highly prospective mining lands. As Lithium Corporation's understanding of controls on mineralization on the property evolved, it became obvious a number of local settings are favorable for hosting mineralization similar to that seen at the nearby past producing Rock Candy fluorspar mine.
Geochemical work has been ongoing and an historic geochemical database was found that augments the work currently being performed in the area. This database was recently digitized and is presently being combined with data generated by Lithium Corporation, along with historic Government Geological Survey data. Combined these data resources are expediting Lithium Corporation's exploration progress on Las Pilas. Stream sediment data to-date indicates several areas on the property may be prospective for hosting Floride mineralization possibly in association with Nickel/Chromium +/- Rare Earth Elements (REE). This may indicate Floride mineralization hosted in fluorcarbonates similar to that seen at the Mountain Pass REE mine on the border of California and Nevada.
Lithium Corporation is extremely heartened by the results of the Company's exploration work to-date and looking forward to finishing before the onset of winter. Should Fall 2024 results warrant, a potentially expanded exploration program will be planned for the next field season.
Considered essential to electrification and a low-carbon future, fluorine and its source material fluorspar are classified as 'critical minerals' by Governments in both the United States and Canada. Fluorinated compounds have an increasing role in next generation lithium-ion batteries where their presence significantly improves thermal stability in tandem with safety. Similarly, fluorinated compounds have been demonstrated to improve battery performance in sub-zero temperatures. Leading battery industry market intelligence firm Benchmark Minerals reports, "fluorspar demand from the lithium-ion battery sector is expected to exceed 1.6 million tonnes by 2030".
Learn more about Lithium Corporation's complete portfolio of lithium, graphite, titanium/rare earth elements and fluorspar prospects:
Lithium Corporation is a Nevada based mineral exploration company devoted to exploring for energy storage related resources throughout North America. The Company is one of only a handful of Project Generators in the critical minerals space in North America. Lithium Corporation's dual operational focus covers exploration activities on several lithium prospects in Nevada, USA, as well as titanium, rare earth elements, graphite and fluorspar properties in British Columbia, Canada. Both Nevada and British Columbia are worldclass mining jurisdictions.
Lithium Corporation concentrates its exploration expertise on the energy metals supply chain to help secure a sustainable future through renewable energy. The Company's newly staked fluorspar prospect is evidence of Lithium Corporation's dynamic approach to maintaining an evolving portfolio growing through new prospects and broadening mineral scope. In Nevada, Lithium Corporation's Fish Lake Valley prospect is in the immediate vicinity of the longest running, large-scale producing lithium-mine in the United States.
This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of minerals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
