International Lithium Corp - ILHMF stock
OTC Symbol: ILHMF | OTC Tier: OTCQB | Related ticker symbols: TSXV: ILC
Description[edit]
International Lithium Corp. is a Vancouver-based company that invests in, explores, and develops mineral properties in Canada, Zimbabwe, and Ireland, with a primary focus on lithium, rubidium, caesium, and rare metal deposits; its main project is the Raleigh Lake Lithium and Rubidium Project in Canada, while actively seeking additional properties in Canada and Zimbabwe since its incorporation in 2009.[1]
History[edit]
International Lithium Corp. was incorporated in 2009 as a Canadian-based mineral exploration company. It was established with the primary objective of identifying and developing mineral properties, particularly those rich in lithium, rubidium, caesium, and other rare metals.[2]
The founders and management team of International Lithium Corp. likely recognized the increasing importance and demand for lithium and other rare metals in various industries, including electric vehicles, renewable energy storage, and electronics. These metals play a crucial role in modern technologies due to their unique properties and potential for sustainable applications. As a result, the company set its sights on exploring and developing mineral properties in regions known for their potential lithium and rare metal resources. Canada, Zimbabwe, and Ireland were among the targeted regions due to their geological characteristics and favorable mining regulations.[3]
With a particular focus on the Raleigh Lake Lithium and Rubidium Project located in Canada, the company aimed to extract and produce lithium and other valuable minerals to meet the growing global demand. International Lithium Corp.'s efforts and strategic approach in mineral exploration and development have positioned it as an active player in the lithium and rare metal mining industry, seeking to contribute to the clean energy transition and technological advancements in the 21st century.[2]
Projects[edit]
Canada[edit]
Raleigh Lakes[edit]
The Raleigh Lake Lithium and Rubidium project, situated near Ignace, Ontario, Canada, spans about 48,500 hectares of mineral claims. A Preliminary Economic Assessment (PEA) released on December 4, 2023, indicated an after-tax Net Present Value of CAD$342.9 million (with an 8% annual discount rate) and an after-tax Internal Rate of Return of 44.3% per year, focusing solely on lithium in Zone 1 and excluding the potential value of rubidium, which requires further market analysis. On March 1, 2023, the project’s first Mineral Resource Estimate was published, detailing resources for both lithium and rubidium. In 2022, approximately 10,000 meters of drilling were completed at the site, which lies within 25 kilometers of Ignace.[4]
Firesteel[edit]
The Firesteel Copper project lies less than 10 km west of Upsala, Ontario, along Highway 17, extending 16 km to the Firesteel River. It comprises 17 mining claims spanning about 6,600 hectares. ILC has sought permits for an initial drilling program targeting copper across the property, planning up to 2,000 meters of core drilling to test six key areas. These targets were primarily identified from a 2023 airborne geophysical survey, with promising magnetic and conductive anomalies aligning with surface samples showing copper anomalies and historical drilling records. Four historic holes by the Canadian Nickel Company revealed up to 30-meter sections of massive pyrrhotite with chalcopyrite, pyrite, and sphalerite, though no assay data was recorded.[4] International Lithium Corp. completed the purchase of a 90% interest in the Firesteel Copper Project in May, 2024. The acquisition terms included cash payments totaling CAD $165,000 to the vendor and milestone payments of CAD $1,000,000 each if the project reaches defined copper resource thresholds.[5]
Wolf Ridge[edit]
The Wolf Ridge property, covering about 5,700 hectares across 275 claim units, is situated 20 km southwest of Upsala and 125 km northwest of Thunder Bay, Ontario, near ILC’s Firesteel copper claims. This early-stage lithium prospect was spotlighted in the 2021–2022 Ontario Geological Survey (OGS) Recommendations for Exploration, which identified lithium potential in the Bedivere–Lac des Mille Lacs Lakes area. A lake sediment survey by the OGS revealed significant lithium anomalies near Bedivere Lake, with values ranging from 20.806 to 27.728 ppm, among the highest recorded in the Atikokan region. Located just a few kilometers from the Trans Canada Highway (Highway 17), the property benefits from excellent infrastructure, including forest service roads, electrical power, rail, and proximity to mining-friendly communities, similar to the Raleigh Lake project 125 km northwest. ILC conducted an aeromagnetic survey in summer 2022 as initial exploration, with further work planned for 2024.[4]
Mavis Lake and Foreign Lake[edit]
ILC holds a financial interest in two properties which it previously owned. The Mavis Lake interest is based on the current owner reaching resource estimate milestones, and the Foreign Lake interest is royalty based.[4]
Avalonia[edit]
International Lithium Corp. has agreed to reduce its interest in the Avalonia Project in Ireland to nil in exchange for CAD$2.2 million in payments from Ganfeng and a 2% Net Smelter Royalty. The agreement extends Ganfeng's option period to increase its stake from 55% to 79% until December 31, 2025. Payments will be made between September 2024 and October 31, 2025.[6]
- ↑ Yahoo Finance. ILHMF Stock Profile. Retrieved on 10/1/2023.
- ↑ 2.0 2.1 Investing.com. International Lithium Corp. Retrieved on 10/1/2023.
- ↑ Reuters. Companies - ILC.C. Retrieved on 10/1/2023.
- ↑ 4.0 4.1 4.2 4.3 internationallithium.ca. Canada. Accessed on 4/1/2025. Archive link.
- ↑ Newsfile. nternational ithium Completes Purchase of the Highly Prospective Firesteel Copper Project Near Upsala, Ontario and Application for Drilling Permits. May 21, 2024.
- ↑ Yahoo. International Lithium Corp. to Receive CAD$2.2m plus a 2% Net Smelter Royalty Following Reduction of Interest in Its Non-Core Avalonia Project. September 17, 2024.
