- American Lithium has received 25 samples from near surface
auger samples with grades of up to 537 mg/L at depths of
1.4m.
- Sonic drilling has commenced on the North Playa and results
will be reported as they become available.
- Near surface sampling continues on the North Playa
VANCOUVER, Oct. 12, 2016 /CNW/ - American Lithium
Corp. (TSXV: Li) (OTCQB: LiACF) (Frankfurt: 5LA; WKN: A2AHEL) ("American
Lithium" or the "Company"), is pleased to report results from
ongoing near surface auger sampling on the North Playa,
Fish Lake Valley (FLV)
Esmeralda County, Nevada. A
total of 25 samples are reported here, with the highest grade
sample being 537 mg/L Li. The average of the samples was 292.4 mg/L
Li and the lowest grade sample was 2.4 mg/L Li.
Sample
Number
|
mg/L
|
Sample
Number
|
Mg/L
|
1431001
|
434
|
1431014
|
503
|
1431002
|
321
|
1431015
|
369
|
1431003
|
537
|
1431016
|
397
|
1431004
|
479
|
1431017
|
102
|
1431005
|
510
|
1431018
|
47.9
|
1431006
|
398
|
1431019
|
94.2
|
1431007
|
401
|
1431020
|
24.5
|
1431008
|
488
|
1431021
|
23.8
|
1431009
|
380
|
1431022
|
2.4
|
1431010
|
47.0
|
1431023
|
98.7
|
1431011
|
382
|
1431024
|
412
|
1431012
|
286
|
1431025
|
188
|
1431013
|
385
|
|
|
These sample sites were located around the circumference of the
North Playa demonstrating pervasive lithium enrichment in near
surface brines through the North Playa. Further sampling is
currently focused on near surface brine on a north-south line
through the middle of the playa. Two sonic drill holes have
been completed on the South Playa target and samples sent in for
testing. One sonic drill hole has been completed on the North
Playa with further drilling planned in the coming weeks. Once
the Phase II drilling has been completed on the North Playa, the
drill rig will be moved to test the Clayton Valley 1 project just
north of the Albemarle lithium plant in Clayton Valley Nevada.
"These sampling results demonstrate that the North Playa is a
lithium enriched basin and we are excited to be focused on
identifying the most potentially economic aspects of the
mineralizing system." commented Michael
Kobler, COO of American Lithium. "Few other lithium
exploration companies have been able to develop their projects so
quickly in the last year as we have and American Lithium will
continue to have a busy fall as our exploration programs
progress."
In previous programs, near surface brines were sampled using a
conventional hand held auger to sample sub surface brines at a
depth of 78" (2m), The brine was sampled at the bottom of the auger
hole and then separated from residual clays before being sent for
analysis. For this expanded near surface brine sampling
program the Company has developed a new methodology for
sampling. Instead of an auger system, a four inch diameter
pipe is driven into the ground to a depth of approximately 55"
(1.4m) and then pulled out of the hole. A 2.5" (6.3cm)
perforated pvc pipe is placed in the hole to keep it open while
clay solids settle to the bottom of the hole. The brine is
then sampled just above the settled material at the bottom of the
hole. Samples are collected and shipped to Florin Analytical
Services in Reno, Nevada where the
lithium content is measured by ICP analysis with an atomic
absorption finish.
Michael Collins, P.Geo. is the
Company's designated Qualified Person within the meaning of
National Instrument 43-101, and has reviewed and approved the
technical information contained in this news release.
ABOUT American Lithium Corp.
American Lithium Corp.
is actively engaged in the acquisition, exploration and development
of lithium deposits within mining-friendly jurisdictions throughout
the Americas. American Lithium holds options to acquire
Nevada lithium brine claims totaling 22,332 acres (9,038 ha),
including 18,552 contiguous acres (7,508 ha) in Fish Lake Valley, Esmeralda County; 2,240 acre (907 ha) San
Emidio Project in Washoe County;
and the 1,540 acre (623 ha) Clayton-Valley-1 Project. The
Company's Fish Lake Valley lithium
brine properties are located approximately 38 kilometers from
Albemarle's Silver Peak, the largest lithium operation in the U.S.,
approximately 3.5 hours from the Tesla Gigafactory. American
Lithium is listed on the TSXV under the trading symbol
"Li".
On behalf of the Board,
American Lithium Corp.
Michael Kobler,
Executive Director
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 document 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