AmeriLithium Reports Positive Results From Additional Exploration on Nevada Lithium Project
HENDERSON, NV, Sept. 10 /PRNewswire/ — AmeriLithium Corp. (OTC Bulletin Board: AMEL; “AmeriLithium” or “the Company”) is pleased to report it has completed the evaluation of its additional exploration of the Paymaster Canyon Lithium brine project in Nevada, USA, and that its geophysical examination has identified an additional location of potentially Lithium-enriched brine in groundwater underlying the Paymaster property, that encompasses part of the northeastern Clayton Valley playa.
The additional data interpretation was requested after small anomalies were discovered in the previously completed report. This report is currently being updated to incorporate the additional findings and will be released on week beginning September 13, 2010. Details from the amended report will be released at that time along with a copy of the report and animations of the survey results on the Company’s website at http://www.amerilithium.com.
“The previously recovered data was originally omitted from the report as it was seen to be insignificant. It is only as a result of due diligence being carried out by both our Chief Geologist, Robert Allender, and the combined team of GeoXplor and Hasbrouck Geophysics, Inc. that we have re-evaluated the data to reveal this significant target location,” commented Matthew Worrall, AmeriLithium’s Chief Executive Officer. “It is extremely significant to AmeriLithium’s future that we have such a great team on hand. The re-evaluation of this data has not only found another area of significant potential, but it will also allow us to amend our impending drilling program to incorporate the findings.”
SIGNIFICANT ADDITIONAL FINDINGS
The additional data was reviewed by Jim Hasbrouck of Hasbrouck Geophysics, Inc. and Robert Allender, AmeriLithium’s VP of Exploration and Chief Geologist, who made the following observations: “Further interpretation of the recently acquired gravity data in the southern end of the Paymaster property confirms a significant bedrock depression clearly connected to the main Clayton Valley sedimentary basin. The gravity data, considered in conjunction with the EM survey results indicate that lithium-bearing brines are present in this area. The geophysical investigations clearly show that the south end of the Paymaster property encompasses part of the northeastern Clayton Valley playa.”
PAYMASTER SURVEY DETAILS
The additional geophysical work was carried out to supplement the data acquired from the initial Gravity Survey that was completed on May 5th, 2010. The report from the previous Gravity Survey, dated May 26, 2010 can be found on the companies corporate website. http://www.amerilithium.com. The purpose of the additional survey was to map bedrock depths in an area omitted from the previous Gravity Survey. The surveys purpose is to show increased bedrock depths or lower bedrock elevations. These areas may be conducive for concentration of lithium-bearing brines.
PAYMASTER PROJECT BACKGROUND
AmeriLithium’s domestic Paymaster Project represents a 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.(1)
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 50 million kg (55,000+ tons) of Lithium to date from the region’s rich brines.(2)
FOR MORE INFORMATION
More information on the Paymaster Project exploration program, 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 ~724,000 acres, including three 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, AmeriLithium Corp. Matthew Worrall, Chief Executive Officer Contact: AmeriLithium Corp. 871 Coronado Center Dr. Ste. 200 Henderson Nevada 89052 Phone: (702) 583-7790 Fax: (702) 583-7791 Email:firstname.lastname@example.org INVESTOR RELATIONS: Toll Free: 1-888-982-6374 Email:email@example.com
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) NI 43-101 Technical Report by Coast Mountain Geological Ltd for Rodinia Minerals Inc, Mar. 12, 2009
(2) Rodinia Minerals Inc website, Feb. 25, 2009
SOURCE AmeriLithium Corp.