Canada Lithium Appoints Geological Consultant to Conduct Independent Review of the Company's Mineral Resources TSX: CLQ; U.S. OTC: CLQMF TORONTO, Feb. 28 /CNW/ - Canada Lithium Corp. (TSX: CLQ; U.S. OTC: CLQMF) announced today that it has appointed Roscoe Postle and Associates Inc. to undertake a preliminary independent review of its previously announced mineral resources. The independent evaluation has been initiated following an internal review that indicated a material reduction in the measured, indicated and inferred mineral resources incorporated in the 43-101-compliant report announced Oct. 28, 2010. The Company was unable to reconcile the results of the internal review, which incorporated various resource estimation methodologies, with the reported 43-101 resources announced in October 2010. Michelle Stone, Ph.D., P. Geo., a Qualified Person as defined by NI 43-101, was the author of the 43-101 report. The Company anticipates that the independent review could be completed within two weeks. A detailed audit (including a new 43-101 report prepared by an independent consulting group) will follow and could require up to a number of months to complete. On-going detailed engineering and design of the Company's planned lithium carbonate mine and processing plant near Val d'Or, Quebec, will continue during the review/audit period. In October 2010, Canada Lithium reported measured and indicated mineral resources of 46 million tonnes grading 1.19% Li2O (at a 0.8% Li2O cut-off), plus an inferred mineral resource of 57 million tonnes grading 1.18% Li2O. This resource was used to develop a mine plan with a schedule to process one million tonnes of ore per year over an initial mine life of 14.8 years. The current mine plan will be reviewed following the review/audit.
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