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Salt Wells Lithium Project - 750 ppm Li


Guest American For Progress
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Guest American For Progress

Lithium Corporation (OTCBB: LTUM) (the "Company", or "Lithco") announced the acquisition of an additional lithium brine prospect in Central Nevada. The Company recently acquired through staking a 12,320 acre parcel that covers the Eightmile Basin, a playa, which lies approximately 15 miles to the southeast of Fallon, the county seat of Churchill County, Nevada.

 

Exploratory sediment sampling of the playa was conducted in the summer and fall of 2009 and 83% of the samples taken within the claim area to date have returned anomalous values in lithium, with the highest value being in the order of 750 ppm Li.

 

The strong lithium values coupled with proximity to a geothermal field and Quaternary faulting indicate that conditions may be favorable for the formation of a subsurface lithium brine pool similar to that currently being exploited at Silver Peak in Esmeralda County, Nevada.

 

Tom Lewis the president of Lithium Corporation stated that "Due to all these positive attributes, we are excited about this prospect, and look forward to conducting more exploration work on this newly acquired property."

 

U.S. Highway 50 cuts across the northern portions of the claim block and the Salt Wells all-weather gravel road traverses the Western portions of the block. Power is provided by a high voltage transmission line that runs parallel to the highway as well as another that originates at the geothermal power plant at the southern edge of the claim block.

 

Lithco plans further exploration work, and more study before drilling in summer of 2010.

 

About Lithium Corporation

 

Lithium Corporation is an exploration company based in Nevada devoted to discoveries of new, cleaner energy related resources. Currently we are in the process of acquiring, and exploring lithium properties in our home state, as well as investigating other lithium opportunities in various locales. For further information please visit the Company's website

 

http://www.lithiumcorporation.com

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