American Lithium Corp. Prepares to Drill TLC Nevada Lithium Claystone Project
TSX VENTURE: LI
Vancouver, British Columbia--(Newsfile Corp. - February 5, 2019) - American Lithium Corp. (TSXV: LI) (OTCQB: LIACF) (FSE: 5LA) ("American Lithium" or the "Company") a leading acquisition, exploration and development operator is pleased to report that it has engaged Harris Exploration Drilling and Associates Inc., of Fallon Nevada, to commence drilling on its 630 ha (1,550 acre), TLC lithium claystone project located minutes from the mining centre of Tonopah, Nevada.
The wholly-owned Tonopah Lithium Claystone (TLC) Project is scheduled for 1,600 m (5,000 feet) of 5.5" diameter reverse circulation drill sampling to increase the scope and eventual valuation of this prospective lithium-bearing claystone-rich environment. Previously, twenty-two (22) grab samples were analysed returning grades ranging from 129.5 to 1380 parts per million (ppm) lithium (Li) with an average grade of 656.5 ppm Li.
- Lithium claystone mineralization is found consistently across nearly four (4) square miles of the project and appears to extend in all directions.
- Preliminary hydrometallurgical testing demonstrates that lithium will effectively leach from the project area claystones with increased extraction quantity and quality relative to immersion times thereby deriving exciting economics and opportunities for highly scalable future commercial extraction scenarios.
The drill program calls for 100m (300 foot) average depths to a maximum of 160m (500 feet) which is projected to penetrate the full lithium claystone potential at depth. A Foremost Explorer 1500 RC Drill, matrix 4-dual tube drill pipe will be utilized for drill operations. All drill pads are located on existing roads in order to minimize environmental impact. A Company-owned Laser Induced Breakdown Spectrometer (LIBS) will be utilized to screen assay samples prior to dispatch to the lab.
Mike Kobler, CEO of American Lithium, notes "With this drilling program, we look forward to determining the depth extension of the regional lithium claystone target which we believe holds great promise as this particular mineralization could represent a highly economically advantageous and game-changing extraction opportunity poised to meet the inevitable resurgence and growth of the domestic lithium resource sector in Nevada."
About American Lithium Corp.
American Lithium is actively engaged in the acquisition, exploration and development of lithium deposits within mining-friendly jurisdictions throughout the Americas. The Company is currently exploring and developing two projects, the FLV and TLC Projects, in the highly prospective Esmeralda Lithium District in Nevada. These projects, within 48 km (30 miles) of each other, are close to infrastructure, 3.5 hours south of the Tesla Gigafactory, and in the same basinal environment as Albemarle's Silver Peak Lithium Mine, and the advancing deposits and resources including Ioneer Inc.'s (formerly Global Geosciences) Rhyolite Ridge and Cypress Development Corp's Clayton Valley Project.
The technical information within this news release has been reviewed and approved by Michael Collins, P.Geo., a consultant to the Company and a qualified person under National Instrument 43-101.
On behalf of the Board,
American Lithium Corp.
Michael Kobler, Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this release that are forward-looking information are subject to various risks and uncertainties concerning the specific factors disclosed here. Information provided in this release is necessarily summarized and may not contain all available material information. All such forward-looking information and statements are based on certain assumptions and analyses made by American Lithium management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include those described under the heading "Risks Factors" in American Lithium's most recently filed MD&A. The Company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information or statements.