Lithium Corporation (OTCMKTS:LTUM) Updates Fish Lake Valley Project
North American company focused on energy metals for the growing energy storage sector and high-tech industries, Lithium Corporation (OTCMKTS:LTUM) on May 3, 2022, informed shareholders the Fish Lake Valley claim block has expanded again. The company also said that the partially completed magnetotelluric survey had identified three stand-alone drill targets. These targets are in southerly areas of the claim block.
Market Stats
On Wednesday, LTUM stock gained 2.52% to $0.3255 with more than 125K shares, compared to its average volume of 764K shares. The stock moved within a range of $0.3200 – 0.3299 after opening trading at $0.3299.
Lithium Corporation Fish Lake Valley Project Progress
The Fish Lake Valley claim block augmented to 11,020 acres (4460 hectares) for covering basinal lows recently, which can be traps for Li-in-brine mineralization. In addition, the survey conducted on southern portions identified three conductivity targets. These are suggestive of brine mineralization at depth.
Two of the three targets are adjacent to previously identified structure coinciding with proximal Li-in-clay at surface. Third target is more towards the east and has not been identified as an area of interest.
The Fish Lake Valley project optionee Morella Corporation said that they are aiming to start initial drill program in second half of 2022.
Lithium Corporation is looking to capitalize on opportunities in the energy storage markets. The firm has maintained a strategic alliance with Morella Corporation for almost nine years and had entered into a formal agreement with Morella for earn-in on its Fish Lake Valley lithium-in-brine prospect in Esmeralda County, Nevada.
Traders Corner
LTUM stock is trading above the 20-Day and 50-Day Moving averages of $0.32 and $0.28 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.30.
