Canada Lithium appoints BBA Inc. to conduct definitive Feasibility Study and recruits Project Director
TSXV: CLQ; U.S. OTC: CLQMF
TORONTO, May 12 /CNW/ - Canada Lithium Corp. (TSXV: CLQ; U.S. OTC: CLQMF) announced today the appointment of engineering group BBA Inc. to conduct the definitive Feasibility Study for the Quebec Lithium Project. BBA is the Montreal-based engineering firm that recently completed the Pre-Feasibility Study for the Project. The Company also announced it has engaged Peter Woodhouse, P.Eng, as Project Director.
"I am very pleased to announce the appointment of BBA to conduct our definitive Feasibility Study (FS). It was a relatively easy choice: BBA delivered on-time and within budget a positive Pre-Feasibility Study announced in late March," said Canada Lithium President and CEO Peter Secker. (The PFS is available at www.canadalithium.com or on SEDAR.) In addition, Mr. Secker noted, a key factor in the selection process is that BBA has an impressive roster of high-profile projects, such as Osisko Mining Corporation's Canadian Malartic Project (Val d'Or), Detour Gold Corporation's Detour Project (northeastern Ontario) and the Consolidated Thompson Iron Ore Mine (southern Labrador Trough in Quebec).
"In addition, we are delighted to welcome Peter Woodhouse to our management team. He has a wealth of experience gained in 30 years of the full spectrum of EPCM (engineering, procurement, construction, management) involving both resource development and mining operations. This skill set precisely suits our needs as we bring the Quebec Lithium Project towards production in 2012," Secker said.
Mr. Woodhouse's career spans over 30 years in engineering and project management and has included projects in Australia, Argentina, Brazil, Peru, Turkey, Portugal, the United States and Canada. Peter most recently provided project construction and commissioning management for Xstrata plc's $975-million Nickel Rim South Mine construction (completed in 2010). He has also provided project and engineering management for design and construction of the Sudbury area project's $60-million backfill plant. Prior to that he was involved with Barrick's Goldstrike Mine, Meridian Resources at Campo Miralda and BHP's Cannington Mine in Australia.
The Quebec Lithium Project FS is scheduled for completion during the first quarter of 2011 and the Company expects to begin the commissioning/production phase by late 2012 on a mine and processing plant with an initial annual capacity of approximately 19,300 tonnes (42.6 million pounds) of battery-grade lithium carbonate. The Quebec Lithium Project is approximately 60 km north of Val d'Or, Quebec.
About Canada Lithium Corp.
Canada Lithium Corp. is a Canadian-based resource and exploration company trading under the symbol CLQ on the TSX-V and CLQMF on the U.S. OTC market. The Company is currently preparing a definitive Feasibility Study on the Quebec Lithium Project, which will include environmental, metallurgical, geological and engineering studies. It has an agreement with Japanese metals trading firm, Mitsui and Co. Ltd., to market a portion of Canada Lithium Corp.'s product in China, Korea and Japan. Metallurgical tests have produced battery-grade lithium carbonate from deposit samples.
Annual and Special Meeting of Shareholders: You are invited to attend the Company's Annual and Special Meeting on Thursday, May 20 at 4:30 p.m., One King West Hotel and Residences, Melinda Gallery, 3rd Floor, 1 King St. W., Toronto.
Please visit the Canada Lithium website at www.canadalithium.com.
Corporate Office: 401 Bay St., Suite 2010, P.O. Box 118, Toronto, Ont. M5H 2Y4
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Forward-looking Information
The statements made in this press release may contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial condition and other aspects of Canada Lithium Corp. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of Canada Lithium Corp. management as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the Company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the Company. Canada Lithium Corp. disclaims any obligation to update information contained in any forward-looking statement.
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For further information: Peter Secker, President and CEO, (416) 361-2821; Olav Svela, Director, Investor Relations, (416) 361-2821, osvela@canadalithium.com; Dan Symons, Renmark Financial Communications Inc., (514) 939-3989, dsymons@renmarkfinancial.com
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