Vancouver, BC, January 24, 2019 – American Lithium Corp. (TSXV: LI) (OTCQB: LIACF) (Frankfurt: 5LA;) (“American Lithium” or the “Company”) is pleased to report that preliminary hydrometallurgical tests have been completed on TLC project samples demonstrating that lithium will effectively leach from the project area claystones with increased extraction relative to immersion time.
CEO, Mike Kobler states “This news is very exciting. Our preliminary results from the TLC project validate what we are looking for in lithium projects; shallow deposits, high grade and low-cost extraction opportunities. In fact, test results indicated a greater percentage of leached output in higher grade samples which is really positive.”
Seven TLC samples were sent for testing at America Assay Laboratory and processed using ICP-AEP protocols. The samples were leach tested with a mixed concentrate extraction, beginning with one-hour agitation in purified water, followed by a progression of one hour, six hour and twenty-four-hour agitation in up to a 20% total sulfuric acid solution. Lithium extraction increased progressively through increased formulation strength and duration.
Additional testing will evaluate the consumption of chemicals and the relationship of solution formulation relative to Li extraction within a 24-hour period. Advanced phase column tests will commence once the initial curing process provides consistent data.
American Lithium is evaluating the extraction economics of selected lithium-enriched claystones from both its TLC and FLV Projects and expects to report initial results early in 2019. Employees as well as independent consultants have been tasked with evaluating potential processing requirements and initiating advanced studies. Testing includes, but is not limited to, determination of grain size, agitation requirements, chemical strength and consumption, water consumption, material balance and durations. American Lithium’s consultant has established the testing protocols and management will submit requests for proposals from select engineering firms in the first half of the year.
“The anticipated outcome could see a game-changing opportunity in the growth and development of the domestic lithium resource sector in Nevada,” concludes Kobler. “We are confident our work will be validated rapidly, and if successful, will provide significant impetus to the Company and value to its shareholders. American lithium looks forward to the results of our next phase of quantifiable hydrometallurgical and drilling efforts in the region.”
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 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.
For more information, please contact the Company at info@americanlithiumcorp.com or visit our website at www.americanlithiumcorp.com. Follow us on Facebook, Twitter and LinkedIn.
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.
Forward-looking statements
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.
Source: American Lithium Corp.
Vancouver, British Columbia–(January 21, 2019) – American Lithium Corp. (TSXV: LI) (OTCQB: LIACF) (Frankfurt: 5LA;) (“American Lithium” or the “Company”) today extends its interest in the critical battery minerals sector by signing an agreement with Alaska Nevada Mining to purchase a 100% interest in the Extinction Ridge Vanadium Project. Pursuant to the agreement, and subject to regulatory approval, the Company will pay the vendor $100,000 (US$) and issue 250,000 common shares. The claims are subject to a 2% gross royalty with a 1% buyback for $1,000,000 (US$). With a total of 52 claims, Extinction Ridge is 30 miles north of Eureka and 55 miles south of Carlin, Nevada, and about 6 west of Highway 278 on a County maintained road. The Extinction Ridge project lies in the middle of a north-south trend between Cornerstone Metals Carlin Vanadium project and Prophesy Development’s Gibellini Vanadium Project.
Historic sampling* has returned grades of 1.4% V2O5 over a 9m Section of gray to black mudstone and shale unit in the Vinini Formation, (Berry, WBN, GSA Annual Meeting 2001). 60 Assays from the Vendor’s sampling of shallow oxidized material returned a range of from trace to 0.72% V2O5, including a 30m long trench cross-cutting a mineralized zone averages 0.46% V2O5. This sampling indicates wide spread occurrence of near surface vanadium mineralization.
*The historic and vendor assays have not been verified by the Company, and readers are cautioned not to place undue weight on such results. The historical grades are considered relevant; however the reliability, assumptions, parameters and methods used in preparing the reports are unknown.
Mike Kobler, Chief Executive Officer of American Lithium, stated: “Extinction Ridge is a high-quality exploration asset that represents another critical metal in today’s energy sector and its location affords us the ability to conduct exploration programs concurrent with our related operations in Nevada. Although we have yet to decide the role this asset will play within our longer term asset strategy, its location, acquisition cost and surface exploration results, presented a decisive project opportunity to be seized.”
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 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.
For more information, please contact the Company at info@americanlithiumcorp.com or visit our website at www.americanlithiumcorp.com. Follow us on Facebook, Twitter and LinkedIn.
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.
Forward-looking statements
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.
Source: American Lithium Corp.
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American Lithium Corp. (TSXv: Li, OTCQB: LIACF, XFRA: 5LA1) is actively engaged in the acquisition, exploration and development of lithium resources within mining-friendly jurisdictions throughout the Americas. American Lithium currently holds over 1,500 acres at our TLC project near Tonopah, NV, one of the most promising and underdeveloped lithium claystone basins in North America today. Our Fish Lake Valley Project consists of over 25,000 acres within the highly prospective Esmeralda Lithium District located approximately 3.5 hours south of the Tesla Gigafactory in the same basinal environment as Ablemarle’s Silver Peak Lithium operation and Global Geoscience, Cyprus Minerals, and Noram Ventures lithium clay deposits.
The evolution of battery chemistry means minerals that were once predictable sources of marginal revenue have almost overnight become some of the most sought-after commodities on the planet.
The explosive and exciting transformation of industrialized western nations from massive carbon abusers to environmental champions is driving extraordinary new avenues of growth in the resource sector.
Lithium has been leading the way and lithium demand is expected to double in the next five years (20% year on year) and continue on the same growth trajectory for many years to come. Now is the time that junior mining operators with foresight and vision can begin to see their early-stage efforts pay off.
Here at American Lithium Corp. we aim to reward investors with the imagination and capital to understands that not all battery mineral projects are the same, and that fundamentals matter.
We started with the basics:
…and have already achieved significant milestones:
– Claystone identified in significant potential quantity and grade.
– Sampled claystone grades of over 1,690 ppm lithium at TLC project
– Improved our understanding of the regional claystone potential through historic assessment and ongoing studies.
We have the advantage of years of watching, learning and adapting our plans based on the advancement of a number of exciting new and future production techniques deployed or under development at other productive operations regionally and around the world.
Moving ahead, we will continue to prove our resource, but perhaps most importantly, we aren’t locked into pre-existing technologies or long term facility investments predicated on outdated extraction and production technologies and methods.
We have an opportunity and an obligation to develop the basis for the most efficient, ecologically sound, and economically productive lithium extraction environment right here in Nevada, and to make our Company a leader in the 21st century renaissance of American resource innovation and industrial transformation which is clearly poised to impact generations to come.
Excerpted from: Presidential Executive Order on a Federal Strategy to Ensure Secure and Reliable Supplies of Critical Minerals
The United States is heavily reliant on imports of certain mineral commodities that are vital to the Nation’s security and economic prosperity. This dependency of the United States on foreign sources creates a strategic vulnerability for both its economy and military to adverse foreign government action, natural disaster, and other events that can disrupt supply of these key minerals. Despite the presence of significant deposits of some of these minerals across the United States, our miners and producers are currently limited by a lack of comprehensive, machine-readable data concerning topographical, geological, and geophysical surveys; permitting delays; and the potential for protracted litigation regarding permits that are issued. An increase in private‑sector domestic exploration, production, recycling, and reprocessing of critical minerals, and support for efforts to identify more commonly available technological alternatives to these minerals, will reduce our dependence on imports, preserve our leadership in technological innovation, support job creation, improve our national security and balance of trade, and enhance the technological superiority and readiness of our Armed Forces, which are among the Nation’s most significant consumers of critical minerals.
We are ideally situated to leverage the convergence of supply & demand in the historically oldest and largest lithium prospective region in North America.
As the demand for lithium batteries grows, driven by the demand for electric vehicles and ever-larger power storage capacity, we aim to be the answer to growing lithium demand by presenting an effective lithium extraction-to-market project scenario with attractive economics and production upside.