VANCOUVER, Aug. 11, 2016 /CNW/ - American Lithium
Corp. (TSXV: Li) (OTCQB: LiACF) (Frankfurt: 5LA; WKN: A2AHEL) ("American
Lithium" or the "Company"), has received assays from the recently
completed 6 initial shallow (2 m) auger drill holes on the North
Bowl Playa in its Fish Lake Valley
lithium brine project, Esmeralda County,
Nevada. Assays of the samples returned lithium values
from 25 to 389 mg/L Lithium and 58 to 2210 mg/L Boron (see
table below).
Element
|
Li
|
B
|
Mg
|
Reporting
unit:
|
mg/L
|
mg/L
|
mg/L
|
AA
|
389
|
2210
|
0.6
|
BB
|
321
|
1340
|
0.3
|
CC
|
99
|
205
|
1.9
|
EEE
|
39
|
58
|
96.9
|
JJ
|
37
|
113
|
27.8
|
NN
|
25
|
65
|
34.8
|
North Playa Fish Lake Valley Auger Drilling Lithium Brine
samples
The auger drill holes targeted infill drilling in areas of
interest from the 2010-11 Phase I exploration as well as extensions
of these areas. These results show increased lithium brine
grades from the Phase I program which reported maximum values of
150 mg/L Lithium and 2670 mg/L Boron, (NI 43-101 Technical
Report, Fish Lake Valley Lithium-Brine Property, Esmeralda County, Nevada, USA, Nov 2015). The sample results also
continue to demonstrate an inverse relationship between Li and Mg
grades which is beneficial as Mg is seen as a deleterious metal in
processing lithium brines.
"The Lithium values from these brine assays are significantly
higher than the historical brine results from Fish Lake Valley and well within the range
that has been reported in the adjacent Clayton Valley. This
really demonstrates the robust lithium and boron potential in
Fish Lake Valley." commented
Michael Kobler, CEO of American
Lithium. "The Company is excited to move forward with sonic
drilling to test deeper aquifers with the 13 permitted drill sites
this month."
As reported in the July 19, 2016
news release, the Company has also conducted auger sampling in the
South Playa of Fish Lake Valley. Six auger holes were drilled
but did not penetrate the over burden covering the near surface
aquifer and so no samples were taken. The South Playa lithium
brine target will be drill tested in the upcoming deeper sonic
drill program.
The near surface auger program is the first of three drill
stages planned during the 2016 Fish Lake Valley Exploration Program
and will be followed by Sonic drilling up to a maximum depth of up
to 500 feet. A total of 13 drill locations have been
permitted for the Sonic drill programs to date. It is
anticipated that the drill program will give a greater
understanding of the lithium content of playa soils and brines,
along with other potentially economically important minerals, as
well as porosity and permeability of lithium bearing brine aquafers
within the North and South Bowl Playas of the Fish Lake Valley lithium brine project.
The Company continues to integrate results of surface mapping
and sampling with the ongoing gravity survey currently being
conducted by Dr. John Oldow,
Director of the Ellison Miles Center for Geological Field Studies
at the University of Texas, Dallas, to
further define drill targets for the Company's second stage drill
program.
The brine samples were drawn from the bottom of the auger hole
(2m depth), through a perforated PVC pipe. The sampling was
supervised by Dr. Paul Lechler who
delivered them to Florin Analytical Services of Reno Nevada.
The samples were screened for suspended solids and then analyzed by
the ICP OES protocol excepting for Lithium which was analyzed by
AAS.
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.. American Lithium is listed on the TSXV
under the trading symbol "Li". For further
information, please visit the Company's website
at www.americanlithiumcorp.com.
On behalf of the Board,
American Lithium Corp.
Michael Kobler, Chief Executive
Officer
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