Lithium Corporation (LTUM) in orbit, stocks soar on sampling discovery

Posted on: Thursday, April 28th, 2011
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Lithium Corporation (OTCBB: LTUM) saw its stock skyrocket 347.8% to $1.03 Thursday, on the release of results from the first phase of sampling of its spring program at Fish Lake Valley, Nevada. Volume for the stock was nearly 12 million shares.

Near-surface brine sampling on its Fish Lake Valley prospect has discovered lithium-enriched brines with results of up to 140 milligrams per liter (mg/L). In addition to these strongly anomalous lithium values, boron is also enriched with values up to 2500 mg/L., and potassium is also elevated, with results up to 7200 mg/L.

The highest values appear to be confined to an area approximately one-half-mile square that is within a larger zone of moderate to highly anomalous lithium and boron, which is 1 ½ miles long by one mile wide.

Lithium Corporation’s president Tom Lewis remarked, “I am tremendously pleased by these results, and I am eagerly looking forward to drilling in this area when access conditions improve later this year.”

Lithium Corporation is an exploration company based in Nevada devoted to the exploration for new lithium resources within the state of Nevada. The Company explores and develops potentially economic lithium-enriched brine fields, with an eye to becoming a long-term producer of this increasingly strategic and economically important commodity.

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Category: Energy Stocks, OTCBB, Penny Stocks
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