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Canada Lithium Updates on Lithium Carbonate Project

Canada Lithium Corp. said that the follow up drilling program at the lithium carbonate project located 60 km north of Val d’Or had been favorable. The 56 hole follow up drilling was conducted at the $200 million project to ensure site clearance for the mine and mill.

The Chief Executive Officer of Canada Lithium Corp., Peter Secker said that the results continued to demonstrate the consistency in both grade and width across the deposit of the mineral spodumene and they have received provincial environmental approval to start construction of the processing plant

The company confirmed that it had placed orders for key equipment such as crushing and flotation circuits and electric switching gear. The company had already ordered the mine haulage trucks, the bar mill, rod mill and kiln.

As per Mr Secker the company is also in negotiations with financial institutions regarding the terms of a debt financing. As the prices for lithium carbonate continue to rise he is sure that they will be successful. Lithium carbonate is used as a key ingredient of second-generation lightweight batteries for electric cars and hybrids.

Joel Scanlon

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Joel Scanlon

Joel emigrated to Australia in 1995 and worked for five years in the mining industry as an exploration geotechnician, using GIS mapping and CAD software. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm. After that, he ran a successful business providing web services to businesses along the eastern seaboard of Australia. During this time, he developed and launched News-Medical.Net. Joel has been working with AZoNetwork since the company was founded in 2000.

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