American Lithium Corp.

(TSX-V:LI) (OTCQB:LIACF)

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AMERICAN LITHIUM PRELIMINARY HYDROMETALLURGICAL TESTING DEMONSTRATES POTENTIAL LOW COST EXTRACTION OPPORTUNITY

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 FacebookTwitter 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.

American Lithium Adds Vanadium Opportunity to Nevada Asset Mix

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 FacebookTwitter 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.

About American Lithium Corp.

We are the dominant land holder in two exciting NEW Nevada lithium claystone projects at over 25,000 acres and growing

 

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.

 

Overview

 

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:

 

  • Identified and secured Lithium Clay enriched projects within a geological region as close as possible to, and where possible, adjoining areas well understood for claystone lithium deposits.
  • Aggressively commenced activities to prove our assets as part of a strategic plan that anticipates the probability of production, environmental and/or economic stressors on the long-term regional producers.
  • Projected economic bottlenecks in the development path and de-risked them by securing key rights, developing land option packages and identifying low-cost infrastructure options.

 

…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.

 

Lithium: A Critical Mineral

 

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.

 

 

Leadership

 

Michael Kobler, B.Sc., CEO & Director

 

Over the past 35 years, Michael Kobler has specialized in identifying, acquiring, developing and producing natural resource opportunities throughout the world as well as overseeing the design and construction of a number of infrastructure projects. He has served in a variety of roles for early stage companies including, Chairman, Chief Executive Officer, President, Technical Advisor, Engineer and Project Manager, and has been a founder and a major shareholder in a number of these ventures. Mr. Kobler has a strong record of success in the exploration, permitting and de-risking of resource projects. His expertise in identifying opportunities through detailed examination of all available information combined with his in-depth knowledge of permitting processes, including detailed environmental work, and dealing with issues related to water supply have positioned him for projects across North and South America. In 2005, Mr. Kobler was a Co-Founder and the original CEO of Osum Oil Sands Corp. (“Osum”) where he oversaw the analysis and acquisitions of the original oil sands leases that form the core of Osum’s projects at Cold Lake and the Saleski carbonates, both in Alberta. During his tenure with Osum, Mike oversaw the growth of the company from start-up to a valuation approaching $500 million; he also hired his successors to ensure the smooth transition of the Company to its next phase of growth and an equity value approaching $2 Billion. Mr. Kobler holds a BSc in Mining Engineering from Montana Tech.

 

Andrew Bowering, B.A., Director

 

Andrew Bowering is a venture capitalist with 30 years of operational experience and leadership in mineral exploration and development worldwide. He has founded, funded and built teams that have operated numerous companies in the pursuit of precious, base and industrial metals from early exploration through to production. Mr. Bowering is an owner and founder of Sunrise Drilling Ltd. and has owned and operated drilling companies for the past 20 years. Mr. Bowering has held senior management positions in a variety of capacities. He has been responsible for the acquisition and sale of several assets and the raising of upwards of $250 million in development capital. He has operated and managed programs throughout North and South America and abroad. He is a founder, director and shareholder of Millennial Lithium Corp, and other publicly traded companies primarily focused in the battery metals space.

 

Andrew Squires, B.Sc., Director

 

Mr. Squires brings over three decades of resource development experience in the energy and natural resources industries both domestic and international. In this time, he has established a proven history of success in creating strong management teams and helping grow new resource ventures into prosperous operations. His entrepreneurial spirit combined with his all-encompassing technical, operational, and financial knowledge on the logistics and complexity in this sector are the talents that have led to his success in helping create and monetize value in the resource development sector. Of recent note, Mr. Squires was part of the original executive team of Osum Oil Sands Corp., a successful junior oil sands company, in which he was instrumental in creating the team and helping raise over $1 Billion in private equity taking the company to commercial production. Prior to starting Osum Oil Sands, Mr. Squires worked for his own consulting firm providing services for clients including Exxon, Pemex, PetroCanada and Chevron. Mr. Squires’ engineering and management skills were honed working for companies such as Dominion Exploration, Paramount Resources and Amoco. Mr. Squires is currently an executive advisor for Osum Oil Sands Corp., President of AXS Industries – a global energy investment advisory firm, a Senior Associate of Renown AMG (upstream energy asset management company), and is actively engaged in a number of start-ups and financings in the energy storage, oilfield equipment, and aerospace fields. Mr. Squires holds a B.Sc. in Mechanical Engineering from the University of Alberta.

 

Dana Brock, P.E., R.G., C.E.G., Consultant

 

Dana Brock is a field oriented Civil Engineer, Geologist and Engineering Geologist. For over 30 years, he has performed and directed investigations, designed facilities and supported large scale construction and remediation projects. His experience spans a broad range of projects in the U.S. and ten other countries, including facilities development for geothermal well fields (Calpine, Unocal Geothermal, Kiewit, CalEnergy, Coso Operators); exploration, drilling and resource management for low temperature and mineralized waters (Sonoma Mission Inn, City of Calistoga and 29 Palms, Crystal Geyser and Mendocino Mineral Water); private and municipal water supply, distribution, impoundment and disposal (Cities of San Francisco, Santa Rosa, and Burlingame, Kendall-Jackson Wines and DeLoach Wines); basin management and due diligence and technical support for legal issues involving geothermal and oil well fields, mineral prospects and underground construction (Deutsche Bank, Florida Power and Light, Mission Energy, Gordon & Rees and Los Angeles Metropolitan Transportation Authority).

 

Dr. John S. Oldow, Ph.D. , Technical Consultant

 

Dr. Oldow was retained as Technical Consultant to the Company effective June 1, 2016. He recently retired after 42 years in academia as Professor of Geological Sciences at Rice University, the University of Idaho, and the University of Texas at Dallas and is now working as a geological consultant. He has published over 100 papers in structure, tectonics, and basin analysis in the western United States, Arctic Alaska, Venezuela, and southern Italy. During his career, he has served as a consultant to ExxonMobil, Shell Oil, ARCO, CONOCO, Petroleos de Venezuela, Union Texas Petroleum, Barrick Gold Corporation, Kennecott, and numerous smaller exploration companies. Dr. Oldow’s work includes application of structural and stratigraphic analysis, potential field geophysics, seismic reflection interpretation, GPS geodesy, and terrestrial laser scanning to solve regional tectonic problems. Dr. Oldow has worked in and around Fish Lake Valley for over 25 years. By integrating geologic mapping, structural analysis, and detailed gravity surveys, he defined the geometry and depth of the deep basins underling the North and South Bowl Playas of Fish Lake Valley and established the geometry and history of movement on the faults that controlled the formation of the basins. His ongoing structural and stratigraphic analysis of basin-fill deposits is optimizing our exploration for lithium brine and lithium-mudstone deposits in the region.

 

PROJECTS

 

 

Tonopah Lithium Claystone Project

 

Preliminary grab samples over an area over 2 square miles run up to 1,690 ppm lithium, with 28% of samples over 1,000 ppm lithium.

 

The Tonopah Lithium Claystone (TLC) Project is a lithium claystone deposit located near the regional hub and county seat in the town of Tonopah, Nevada. Consequently, logistics (paved roads, power, etc.) are superior for development and water resources are not constricted as at Clayton Valley.

 

Samples at TLC run low in calcium, indicating the potential of utilizing low-cost heap leach process for recovery of lithium. Similar to Lithium America’s Kings Valley claystone deposit, TLC is on the periphery of an area of former uranium exploration, though none of the TLC samples taken carry appreciable uranium or thorium. Data from the uranium exploration indicates that sediments in this (sub) basin are at least 600 feet deep (Appendix B; Nevada Bureau of Mines Bulletin 92 indicates the sediments might be 1000 feet deep).

 

Fish Lake Valley, Nevada

 

American Lithium holds over 24,000 acres in the Fish Lake Valley (FLV) of west-central Nevada, one of the most promising lithium basins in North America.

 

The FLV property sits in the highly productive Esmeralda Lithium District, which includes Fish Lake Valley and it’s lithium occurrences. The property is 2.6 km west of Global Geoscience’s Rhylolite Ridge Lithium/Boron project where a measured and indicated resource exceeding 4 million tonnes lithium carbonate (LiCo) in claystones, is currently under feasibility study. The FLV property is approximately 18 miles west of Albemarle’s Silver Peak project in Clayton Valley, the oldest and largest commercial lithium producer in the U.S.

 

Fish Lake Valley exhibits similar geological and geophysical characteristics to nearby Clayton Valley where over geologic time lithium is liberated from unstable volcanic glass within ancient tuff deposits and then concentrated in claystones, clays, evaporites and brines in fault-bounded sub-basins, or “traps”. Tertiary sediments and rhyolitic tuff, similar to that at Rhyolite Ridge (Global Geoscience Corp) and Clayton Valley (Cypress Development Corp), are exposed on both sides of the Fish Lake Valley Playa and were encountered in exploratory drilling on the property by American Lithium. Geothermal activity, which can enhance the tendency to concentrate minerals is evidenced within and near the project, including a fully explored and approved geothermal power project 4 km to the west.

 

The property is 3 1/2 hours south of Tesla’s Gigafactory, close to major interstate HWY 6, and near operating electrical transmission lines.

 

American Lithium completed a national instrument 43-101 report for the property along with an extensive Phase 1 exploration program (2010-2015) that included surface sampling, gravity geophysics, and 3,545 feet of direct push near-surface drilling within 41 holes at 25 sites. In 2016, Phase II exploratory activities added 4 deeper holes (up to 500’ depth) including brine sampling and analysis, additional surface sediment sampling and analysis and preliminary evaluation of the efficacy of lithium extraction from selected sediment samples.

 

SOURCE:  https://www.americanlithiumcorp.com/

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