MinRes to put lithium mine on ice, to cut 300 jobs
The company will put its Bald Hill lithium mine in Western Australia under care and maintenance starting this week.
Toronto, May 30, 2011 – Canada Lithium Corp. (TSX: CLQ; OTCQX: CLQMF) announced Monday that it has received a construction permit from the Municipality of La Corne, Que., for construction of surface service infrastructure at its Québec Lithium Project.
The company has proposed construction of an open pit mine and processing plant at the site, 60 km. north of Val d’Or, Que., to produce lithium carbonate, a key component in lithium-based batteries that power electric and hybrid vehicles; hand-held tools, such as cordless drills; yard landscaping tools; and a full range of consumer electronics. The construction permit is the first of a number of permits required before the project can go ahead.
Default status update
In a press release dated May 2, 2011, Canada Lithium Corp. announced that the Ontario Securities Commission (“OSC”) had noted the Company in default of its continuous disclosure obligations under Ontario securities law due to the company’s announcement on February 28, 2011 that an internal review had indicated a material reduction in the measured, indicated and inferred mineral resource for its Québec Lithium Project (the “Project”) announced on October 28, 2010.
The February 28th announcement stated that the company had appointed Roscoe, Postle & Associates (“RPA”) to undertake a preliminary independent review of the October 28, 2010 mineral resource estimate. On March 16, 2011, the company announced that RPA had confirmed there were significant issues with the geological modelling that had produced the mineral resource estimate announced on October 28, 2010. The company also confirmed that it had appointed AMC Mining Consultants (Canada) Ltd. (“AMC”) to independently conduct a mineral resource estimate for the Project and expeditiously prepare a new technical report compliant with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”).
In a press release dated May 16, 2011, the company announced that AMC had completed its mineral resource estimate for the project. The press release disclosed that the AMC mineral resource estimate, together with the previous October 28, 2010 estimate, is as follows:
Click here to read the full news release
Canada Lithium Corp. holds a 100% interest in the Québec Lithium Project near Val d’Or, the geographical heart of the Québec mining industry. The company plans to build an open-pit mine and processing plant on-site. 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 CLQMF.
Image by Canada Lithium Corp.
