FOR IMMEDIATE RELEASE OTCQB: LTUM
LITHIUM CORPORATION EXPLORATION UPDATE
Elko, NV – May 4, 2023 – Lithium Corporation (OTCQB:LTUM) (“LTUM” or “the Company”), a North American company focused on energy metals for the growing energy storage sector and high-tech industries, is pleased to announce, despite a somewhat wetter than normal winter in many parts of Nevada, exploration work has been ongoing on the Company’s properties, most notably the North Big Smoky (NBS) lithium-in-brine prospect in both Nye and Lander Counties, and the newly acquired PLR lithium claystone project in Nye County, Nevada.
At North Big Smoky, Lithium Corporation’s single largest shareholder, Morella Corporation, is currently striving to earn an initial 60% interest in the project. Geophysical surveys (Controlled Source Audio Frequency Magnetotelluric, Passive Seismic, and Magnetotelluric) have been ongoing throughout the winter, with final interpretation of results released in April. Among other geological features (depth to basement, faulting, etc.), these surveys outline several conductivity anomalies that are interpreted to be related to brine mineralization at depth at various locations on this two discrete and separate block property. Discussions are currently underway with drilling contractors, and permit applications are being readied for a Phase I shallow drilling program. For more detail please view Morella’s May 01st release at the below link:
At Lithium Corporation’s 100% owned PLR project, where the Company previously identified lithium-in-claystone mineralization over 1000 ppm’s in a Fall 2022 geochemical survey, field personnel have taken a number of repeat and other samples to confirm earlier sampling and attempt to determine possible pathways for mineralizing fluids. Preliminary mapping was undertaken in an effort to determine controls on the mineralization found there to date. Lithium Corporation anticipates further work on this property in the coming months, as well as expanding on the knowledge gained here to identify other areas that may potentially host similar or better lithium-in-claystone mineralization.
About Lithium Corporation
Lithium Corporation is an exploration company based in Nevada devoted to the exploration for energy storage related resources throughout North America, and looking to capitalize on opportunities within the ever-expanding next generation energy storage markets. The Company has maintained a strategic alliance with Morella Corporation (the Company’s single largest shareholder) for the past nine years, and apart from the above agreement has also entered into a formal agreement with Morella with respect to an earn-in on the Company’s Fish Lake Valley lithium-in-brine prospect in Esmeralda County, Nevada.
Tom Lewis, CEO
About Morella Corporation
Morella is an exploration and resource development company focused on lithium and battery minerals. Morella is currently engaged in exploration, resource definition and development activities with projects strategically located in Tier 1 mining jurisdictions in both Australia and the United States of America. Morella will secure and develop lithium raw materials to support the surging demand for battery minerals, critical in enabling the global transition to green energy.
James Brown, Managing Director
Notice Regarding Forward-Looking Statements
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.
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