HENDERSON, NV, July 2, 2012 /PRNewswire/ -- AmeriLithium Corp.
(OTC Bulletin Board: AMEL; "AmeriLithium" or "the Company") is
pleased to announce the completion of its geophysical study of the
Company's three properties in Western
Australia for the purpose of identifying possible gold
mineralization in addition to possible lithium resources.
The interpreted results from the geophysical study indicate
geology that is consistent with [Ausgold Limited's nearby
5-million-ounce (Moz) Katanning gold discovery]. In particular,
AmeriLithium's Bare Rocks license block is considered highly
prospective due to a series of structural features (faults and
shear zones) that appear to be relatively unique for the Katanning
area. Analysis of the existing geophysical data also identified 13
viable exploration drill targets.
The geophysical study was commissioned through AmeriLithium's
Australia-based joint venture
("JV") partner, Strategic Resource Management Pty Ltd. The purposes
of the JV are to acquire, manage and administer mining properties
held by or to be held by AmeriLithium in Australia, including the Company's three
current Western Australia
assets.
AmeriLithium's CEO, Matthew
Worrall, commented: "While our main focus remains our
lithium projects in Nevada, our JV
with Strategic Resource Management continues to enable us in
exploring and developing our Australian holdings. And with the
geophysical study pointing to the potential for gold
mineralization, we're looking forward to moving ahead with our 2012
drilling program to better assess the gold and lithium potential of
our holdings."
GEOPHYSICAL STUDY DETAILS
The geophysical study focused on the three mineral tenements
currently held by AmeriLithium within the Katanning Greenstone Belt
in Western Australia. Core
Geophysics ("Core") of Perth
performed a detailed analysis of available geophysical data
covering the three tenements with the purpose of identifying
possible gold mineralization in addition to possible lithium
resources.
Data was acquired and reviewed for the Bare Rocks (E70/3702),
Hoffman Hills (E70/3703), and Normans Lake (E70/3704) projects. A
suite of geophysical images was generated for each property,
showing the structural interpretation of publically-available
airborne geophysical survey magnetic data acquired within the past
5 to 10 years. A review of competitor activity in the region was
also undertaken to determine the level of exploration activity and
the techniques being employed to more fully delineate the Katanning
gold discovery as well as the entire Katanning Greenstone Belt.
Structural interpretation of magnetic data within the
AmeriLithium tenements shows a highly complex geological terrain
interspersed with abundant intrusive dike swarms. This interpreted
geology is consistent with that of the Katanning discovery.
Patterns in magnetic data indicate a possible mafic-ultramafic
layered intrusion at the south end of the Bare Rocks license block.
This interpreted intrusion is also in close proximity to the
Ausgold Katanning Gold Project and, according to Core, may be a
significant feature in relation to known mineralization. Bare Rocks
is considered highly prospective due to a series of structural
features (faults and shear zones) that appear to be relatively
unique for the Katanning area.
Core identified 13 viable exploration drilling targets from its
analysis of the existing geophysical data:
- Four targets were delineated for the Normans Lake block.
Targets are identified structural features and possible granitic
intrusions.
- Six targets were identified for the highly prospective Bare
Rocks block. These include geophysical signatures similar to the
Katanning discovery that are on the strike of the Katanning
mineralized trend. Priority targets include the set of faults and
shears identified by the geophysical surveys and a geophysical
signature identified as that of a layered-intrusive body.
- Three targets were identified for the Hoffman Hills block.
Existing geophysical data for this area is of generally poor
quality, according to Core. Additional work in this area is
suggested to gain a better understanding of the geology and
structure given its close proximity to the expanding Katanning
discovery. Targets are identified structural features with major
offset, fault splays and shear zones, and greenstone with multiple
intersecting fractures
FOR MORE INFORMATION
More information on the Australian holdings, and additional
information regarding the Company, can be found at AmeriLithium's
corporate website www.amerilithium.com along with the facility to
sign up for regular news updates.
ABOUT LITHIUM: Lithium is a lightweight metal used in a wide
range of consumer products the world over: the medical industry
uses Lithium as an anti-depressant; industrial uses include glass,
ceramic and porcelain enamel manufacture; the aviation industry
uses Lithium in alloys. Of particular interest is the use of
Lithium for battery production, which has expanded significantly in
recent years due to rechargeable Lithium batteries being used
increasingly in electrical tools and in the rapidly expanding
portable electronics market. Furthermore, the next generation of
hybrid and electric vehicles are being designed to use
high-capacity Lithium-ion batteries as environmentally-friendly
fuel alternatives.
ABOUT AMERILITHIUM: AmeriLithium is a publicly traded (OTCBB:
AMEL), mining company committed to progressively developing into
one of the leading American players in the global Lithium industry.
The Company is headquartered in Henderson, NV. AmeriLithium has amassed a
Lithium portfolio consisting of ~727,319 acres, including four
Nevada-based projects nearby the
only Lithium producing plant in the
United States, a large project in Alberta, Canada, and a project in Western Australia.
ON BEHALF OF THE BOARD OF DIRECTORS,
AmeriLithium Corp.
Matthew Worrall, Chief Executive
Officer
FORWARD-LOOKING STATEMENTS
The information contained herein includes forward-looking
statements. These statements relate to future events or to
our future financial performance, and involve known and unknown
risks, uncertainties and other factors that may cause our actual
results, levels of activity, performance, or achievements to be
materially different from any future results, levels of activity,
performance or achievements expressed or implied by these
forward-looking statements. You should not place undue
reliance on forward-looking statements since they involve known and
unknown risks, uncertainties and other factors which are, in some
cases, beyond our control and which could, and likely will,
materially affect actual results, levels of activity, performance
or achievements. Any forward-looking statement reflects our
current views with respect to future events and is subject to these
and other risks, uncertainties and assumptions relating to our
operations, results of operations, growth strategy and
liquidity. We assume no obligation to publicly update or
revise these forward-looking statements for any reason, or to
update the reasons actual results could differ materially from
those anticipated in these forward-looking statements, even if new
information becomes available in the future.
Contact:
AmeriLithium Corp
871 Coronado Center Dr.
Ste. 200
Henderson
Nevada
89052
Phone: (702) 583-7790
Fax: (702) 583-7791
Email: info@amerilithium.com
Web: www.AmeriLithium.com
INVESTOR RELATIONS:
Toll Free: 1-888-982-6374
Email: ir@amerilithium.com
SOURCE AmeriLithium Corp.