TSX: CLQ; U.S. OTC: CLQMF
TORONTO, July 10, 2012 /CNW/ - Canada Lithium Corp. ("Canada Lithium" or
the "Company") (TSX: CLQ) (OTCQX: CLQMF) announced today that major
components of the process plant are now on-site at its Québec Lithium
Project near Val d'Or, Québec, and the project is on schedule for
Long lead-time items ordered in 2011 will be installed in July and
August. This includes crushers, flotation cells, kiln, rod mill and
ball mill, high voltage transformers, conveyors and other equipment.
Inside the process plant, the foundations and structural steel for the
ball mills, rod mills and flotation circuit have been completed, and
installation of the equipment will commence. The foundations for the
hydrometallurgical kiln have been poured and welding of the kiln shell
will begin. Foundations for the crusher circuit have been completed and
the fine ore bin structure has been erected. In addition, high voltage
transformers and switchgear have arrived on site and will be installed.
The mining fleet, composed of three 100-tonne mine trucks, hydraulic
excavator, 992 front-end loader, grader and D9 dozer are on-site and
operational. Pre-stripping of the deposit is scheduled to commence in
As part of its focus on Asian lithium battery manufacturers, the Company
has set up a marketing team in China, which will be opening a full-time
marketing office in Shanghai in September to market battery-grade
lithium carbonate products. The lithium carbonate will be sold under
the trade name "Québec Lithium™."
Commissioning of the mine and spodumene plant is expected to occur late
this year, while production of battery-grade lithium carbonate is
anticipated to begin in the first quarter of 2013, building up to a
20,000-tonne-per-annum Li2CO3 capacity by the end of 2013. Project construction is currently on-time
and on-budget. Recent photographs from the site can be viewed at the
Company's website: www.canadalithium.com. Select the button "Click to view Photo Gallery".
About Canada Lithium Corp.
The Company holds a 100% interest in the Québec Lithium Project near Val
d'Or, the geographical heart of the Québec mining industry. The Company
is in the midst of building an open-pit mine and processing plant
on-site with capacity to produce approximately 20,000 tonnes of
battery-grade lithium carbonate annually. Metallurgical tests have
produced battery-grade lithium carbonate samples. The Company trades
under the symbol CLQ on the TSX and on the U.S. OTCQX under the symbol
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking information" within the
meaning of applicable Canadian securities legislation. Generally,
forward-looking information can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or statements that
certain actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved".
Forward-looking information is based on reasonable assumptions that have
been made by the Company as at the date of such information and is
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance or
achievements of the Company on to be materially different from those
expressed or implied by such forward-looking information.
Although the Company has attempted to identify important factors that
could cause actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can be
no assurance that such information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such information. Accordingly, readers should not place
undue reliance on forward-looking information. The Company does not
undertake to update any forward-looking information referenced herein,
except in accordance with applicable securities laws.
SOURCE CANADA LITHIUM CORP.
For further information:
Peter Secker, President and CEO (416) 361-2821
Olav Svela, Director, Investor Relations (705) 848-9192 or (416) 479-4355 or email firstname.lastname@example.org
Christine Stewart, Renmark Financial Communications Inc. (416) 644-2020 or email email@example.com
For more information, please visit the Canada Lithium website at www.canadalithium.com.
The Company's corporate office is at 401 Bay Street, Suite 2010, P.O. Box 118, Toronto, ON, M5H 2Y4