Stock Under $10 with 50-100% upside potential - 14 Days FREE!

Canada Lithium Announces Water Discharge; Mine And Plant Commissioning Continue On Schedule

TSX: CLQ; U.S. OTC: CLQMF    

TORONTO, March 20, 2013 /CNW Telbec/ - Canada Lithium Corp. (" Canada Lithium" or the "Company") (TSX: CLQ) (U.S. OTC: CLQMF) announced today that, on March 18, 2013, the Company became aware of a clear water discharge from a storage cell within the tailings storage facility that held decanted water being used for the process plant commissioning at its Québec Lithium Project near Val d'Or.  At no time were any tailings released into the environment and the Company currently does not expect any delay in commissioning or increase in capital costs relating to the event.

Upon becoming aware of the event, the Company notified the Québec Ministère du Développement durable, de l'Environnement de la Faune et des Parcs (MDDEFP) who attended on site to review the area where the water discharge took place.  Their preliminary assessment indicated that approximately 50,000 cubic metres of water were released.  The Company was allowed to carry on with the commissioning of its lithium carbonate processing plant and its use of the remaining tailings cell; however, it will undertake an inspection and provide a remedial action plan to the MDDEFP.

On March 19, 2013, in accordance with its standard practice of recording and making public every environmental occurrence involving an on-site inspection, the MDDEFP posted a release on its website and issued a news release describing the event.

The Company intends to maintain regular communications with the MDDEFP over the next few days and will proceed to excavate the area of the water discharge and conduct an inspection with its geotechnical consultants and storage facilities' liner contractors to remediate the cause of the water discharge.

The Company will continue to monitor the situation closely and is committed to its ongoing approach to sustainable development and the prevention or mitigation of the impact of its activities on the environment. The Company has developed a number of practical programs for environmental management, which include input from its local communities, as well as from experts in these fields.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
TRY IT FREE

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
Dividend Stock Advisor
TRY IT FREE
New! $49.95/yr

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREE

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Real Money
TRY IT FREE

24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.

Product Features:
  • Jim Cramer + 20 Wall Street pros
  • Intraday commentary & news
  • Real-time trading forum
  • Actionable trade ideas
Real Money Pro
TRY IT FREE

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass + 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
TRY IT FREE

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 15,303.10 8.60 0.06%
NASDAQ 3,459.14 -0.28 -0.01%
S&P 500 1,649.60 -0.91 -0.06%
US 10 Yr 2.011% -0.012

Brokerage Partners

Advertising Partners
Special Features

Free Newsletters from TheStreet

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

We respect your privacy. Manage Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs