AmeriLithium Provides Positive Update on Drilling Progress & Confirms Completion of First Drill Hole
HENDERSON, NV, March 24, 2011 /PRNewswire/ — AmeriLithium Corp. (OTC Bulletin Board: AMEL; “AmeriLithium” or “the Company”) is pleased to provide a progress update on the Company’s 8-hole drill program on the Paymaster Canyon Lithium brine project in Nevada, USA, and confirms the completion of the first drill hole. The Company’s corporate website (http://amerilithium.com/) has been updated to provide pictures of the drilling setup and operation on the Paymaster asset as well as all information from the previous exploration phases already completed and details on AmeriLithium’s other Lithium-focused projects.
As of Tuesday, March 22nd, the drilling of hole one had been completed. The crew will continue to work 10-hour shifts to finish the remaining two holes in a timely manner, with completion of the second hole expected within the next 7 days. (Detailed drilling progress notes are provided further below.)
Members of the AmeriLithium management and advisory team that were on-site to oversee the start of the operation included Matthew Worrall, CEO; Robert Allender, VP of Exploration & Chief Geologist; and Robert Craig, P.E., Chief Mining Advisor.
“So far, the drilling is providing physical confirmation of what the geophysical surveys from our previous phase of exploration predicted,” said Matthew Worrall, AmeriLithium’s CEO. “We’ve already encountered areas within hole one that look positive for brine, and we are looking forward to the successful completion of the next hole.”
The program’s 3 initial holes will test areas of significant Lithium brine potential identified by the Company’s exploration program (i.e., areas marked by gravity lows and low resistivity), followed by the remaining 5 holes depending on the initial drilling results.
DETAILED DRILLING PROGRESS NOTES: TUESDAY, MARCH 22
Robert Allender, VP of Exploration & Chief Geologist, provided the following update for the first hole, “Our first drill hole in Paymaster Canyon has been successfully completed. Casing and screen have been installed. The well is being conditioned today in anticipation of water sample collection this afternoon. The borehole penetrated the same stratigraphic sequence that is evident in wells drilled in Clayton Valley to the southwest and in Alkali Flats to the east of Paymaster Canyon. This stratigraphy includes carbonate rocks interbedded with volcanic ash-fall and ash-flow tuffs of the bimodal basalt-rhyolite assemblage that occupies this area of Nevada. These tuffs are the water-bearing units that contain lithium in Clayton Valley and from which Chemetall-Foote has been producing lithium for over 50 years. Perforated well screen was placed in two zones that exhibited lithologic and water quality characteristics consistent with Clayton Valley-type lithium-rich brines. Temperature and conductivity measurements were collected throughout both zones using field instruments. Water temperatures ranged from 33 to 34.3 degrees centigrade in the zone from a depth of between 325 feet and 390 feet. Water temperature ranged from 34.6 to 35 degrees centigrade in the zone from 490-580 feet. These temperature readings are indicative of Clayton Valley-type brines. Field-measured relative conductivities in these zones are also positive indicators of lithium-bearing brine.
Water samples will be collected this afternoon and delivered to ALS Chemex for analysis. ALS will analyze each sample for 27 elements including lithium, potassium, sodium, calcium, and magnesium by the ICP-AES technique (inductively coupled plasma (ICP) – atomic emission spectrophotometric (AES). ALS Chemex will also analyze all samples for brine quality parameters including pH, conductivity, total dissolved solids, and total alkalinity.”
TEAM DISCUSSION OF THE AREA & ITS PLAYERS
While on the field trip, the above mentioned management and advisory team members took advantage of the opportunity to research opportunities to expand AmeriLithium’s North American properties and potential Lithium resources by visiting potential Lithium properties currently available for acquisition in the area, which is one of the most Lithium-rich regions in the USA. The Clayton Valley playa, in particular, is home to Lithium-rich brines and evaporates that 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)
The group also discussed recent Lithium discoveries of other local mining exploration companies. Included among these companies was Rodinia Lithium, which recently released updated potential Lithium reserves (averaging 285 mg/L Li over 146.3 meters) for their Clayton Valley properties, which are in close proximity to both AmeriLithium’s Paymaster and Clayton Deep properties.(2)
Also in close proximity is the only US-based Lithium producing plant, operated by 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.(3)
The group also discussed American Lithium and its nearby Borate Hills Project, a large co-product Lithium and Boron deposit located only 20 miles north of the Chemetall plant. A 15 RC drill hole program on the project has identified significant intercepts of Lithium and Boron mineralization along a strike length of over 1.7 kilometers.(4)
FOR MORE INFORMATION
More information on the Paymaster Project drill 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,
Matthew Worrall, Chief Executive Officer
871 Coronado Center Dr.
Phone: (702) 583-7790
Fax: (702) 583-7791
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) NI 43-101 Technical Report by Coast Mountain Geological Ltd for Rodinia Minerals Inc, Mar. 12, 2009
(3) Rodinia Minerals Inc website, Feb. 25, 2009
SOURCE AmeriLithium Corp.