AmeriLithium Confirms Completion of Geophysical Exploration on its Four Nevada-Based Lithium Brine Projects
HENDERSON, NV, Dec. 19, 2011 /PRNewswire/ — AmeriLithium Corp. (OTC Bulletin Board: AMEL; “AmeriLithium” or “the Company”) is pleased to announce the completion of both stages of geophysical exploration on all 4 of the Company’s Nevada-based lithium brine properties: Paymaster, Clayton Deep, Full Monty, and Jackson Wash. First stage gravity surveys were followed by Controlled-source audio frequency magnetotelluric (CSAMT) surveys to further refine the Company’s understanding of the geology and lithium brine potential for each property. Preliminary findings suggest good potential for lithium resources on all 4 of the properties, warranting further exploration activities.
Interpretive reports from each of the gravity surveys have been received and analyzed by the Company. Final interpretive reports for the CSAMT surveys for the Clayton Deep, Full Monty and Jackson Wash properties, meanwhile, are pending from the Company’s consulting geophysicist, Jim Wright of JL Wright Geophysics, and are expected in January 2012.
The next phase of exploration and development of the properties will involve identifying potential drill targets to extend AmeriLithium’s current 8-hole drill program, which began in Q1 2011 on the Paymaster property. Results taken during the drilling of the initial 3 holes on Paymaster produced very promising results, confirming the presence of lithium brines. The next stage of AmeriLithium’s drill program will take into account the results from the first 3 holes drilled, and will include drilling new holes to test and sample groundwater at each site to determine the nature and extent of lithium-bearing brines. Following approval of the required permitting by the BLM, drilling will likely commence in the second quarter of 2012 on specific targets identified by the geophysical surveys.
In the interim, AmeriLithium has begun the process of contracting a third-party assessment to evaluate the quality and accuracy of the Company’s geophysical program to date. The assessment will be contained in a technical report that is expected to comply with the requirements of Canadian National Instrument (NI) 43-101 and US Securities Exchange Commission Industry Guide 7. NI 43-101 is a codified set of rules and guidelines for reporting and displaying information related to mineral properties owned by, or explored by, publicly traded companies. Industry Guide 7 contains the SEC’s basic mining disclosure policy, which provides standards and guidelines for the description of mineral properties by companies engaged in mineral exploration or mining operations.
The third-party assessment consultant will review the existing technical data and property information, and draw conclusions regarding the quality of project information generated to date, including the Company’s quality assurance and quality control program. The independent NI 43-101 report will also contribute to defining the next stage of AmeriLithium’s drill program by confirming whether the Company has defined exploration concepts and specific exploration targets that are worthy of follow-up work, primarily exploration drilling on defined targets.
AmeriLithium’s Chief Geologist, Robert Allender, commented: “The exploration program to date has been a great success in my opinion. The contractors, Magee Geophysical and Zonge International, ran the gravity and CSAMT surveys very efficiently. The data quality has been excellent. The interpretation and reporting on the survey results by J.L. Wright Geophysics has been outstanding. The drilling in Paymaster Canyon yielded considerable useful data and provided valuable information on that property as well as drilling conditions and challenges in Clayton Valley. In particular, the anomalous lithium concentrations and water temperatures at the south end of the Paymaster property recommended further investigations in the area. And the recent geophysical investigations at the Clayton Deep, Full Monty, and Jackson Wash properties all showed strong indications of possible lithium brine accumulations. Additional investigations are clearly warranted in those areas as well, and we’re looking forward to expanding our drill program to achieve that goal.”
LITHIUM PROJECT SUMMARIES
PAYMASTER: 5,880-acre claim block adjacent to the Clayton Valley playa, where lithium-rich brines and evaporates have been accumulating for more than 30,000 years, resulting in the highest lithium content found in any brines tested by the US Geological Survey (USGS) in southwestern US playas and basins. Clayton Valley is home to the only US-based lithium producing plant, operated by neighboring Chemetall Foote Corporation, a subsidiary of Rockwood Holdings, Inc. The plant has been in production since 1967, producing an estimated 40 million kg (44,000+ tons) of lithium to date from the region’s rich brines.
CLAYTON DEEP: AmeriLithium owns 100% of the 5,280-acre (8.25 square mile) Clayton Deep lithium brine project assets, covering the entire Southwest Gravity Low in Clayton Valley. The Clayton Deep project’s placer claims lie less than 10 miles southwest of the Chemetall lithium producing plant.
FULL MONTY: 5,300-acre block (9 square miles) of federal placer mining claims in Nye County, Nevada, 25 miles north of Clayton Valley’s prime lithium-mining region. The project covers the gravity low of the intersection of the Montezuma Trough (gravity) lineament with the Big Smoky Valley lineament. Gravity lows such as the Full Monty Gravity Low are thought to be traps for lithium-bearing groundwater.
JACKSON WASH: AmeriLithium has a 100% interest in the Jackson Wash lithium brine project in Esmeralda County, Nevada. The project’s 65 placer mining claims total ~2,450 acres (3.83 square miles), covering the center of an identified gravity low to the east of Nevada’s lithium-producing Clayton Valley. The project lies to the immediate east of the Montezuma Range; to the immediate west of the range lies the Clayton Valley playa.
FOR MORE INFORMATION
More information on the AmeriLithium’s projects, 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 while the Obama administration has introduced $5 billion in funding and incentives for the development of a secure, domestic battery industry with special focus on Lithium-ion batteries.
ABOUT AMERILITHIUM: AmeriLithium is a publicly traded (NASD OTC BB: 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 US, a large project in Alberta, Canada, and a project in Western Australia.
ON BEHALF OF THE BOARD OF DIRECTORS,
Matthew Worrall, Chief Executive Officer
871 Coronado Center Dr.
Toll Free: 1-888-982-6374
Certain statements in this press release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. AmeriLithium Corp. bases these forward-looking statements on current expectations and projections about future events, based on information currently available. The forward-looking statements contained in this press release may also include statements relating to AmeriLithium Corp.’s anticipated financial performance, business prospects, new developments, strategies and similar matters. AmeriLithium Corp. disclaims any obligation to update any of its forward-looking statements, except as may be required by law.
1. Harrop, John, 2009. Technical Report on the Clayton Valley Lithium Property, Esmeralda County, Nevada, prepared for Rhodinia Minerals, March 12, 2009, 31p.
SOURCE AmeriLithium Corp.