American Lithium Corp. (“American Lithium” or the “Company”)
(TSX-V:LI | OTCQB:LIACF | Frankfurt:5LA1) is pleased to provide an
update on recent developments at its Tonopah Lithium Claims Project
located close to Tonopah, Nevada (“TLC”).
Highlights:
- The U.S. Bureau of Land Management
(BLM) has confirmed that American Lithium’s Plan of Operations,
submitted in January 2021, (the “PO”) has been accepted for review
and is deemed complete
- Biological and Cultural Baseline
Surveys prepared by American Lithium, in conjunction with EM
Strategies Inc. of Reno, conducted in 2020 confirmed that
“no species or habitat protected under the Endangered
Species Act are present within the Project Area”.
- BLM has confirmed that a standard
Environmental Assessment (“EA”) is sufficient for approval of this
PO. Approval of PO anticipated within 3 months, enabling next phase
of development.
- Next phase at TLC to include a drill
program of up to 95 drill holes to extend, expand and upgrade
existing resource and complete up to 5 test pits for metallurgical
bulk sampling.
- Company remains focused on becoming
a secure, sustainable, environmentally responsible supplier of
battery-grade lithium products for the North American Battery / EV
markets.
- Strong alignment with 100-Day Review
focused on strengthening Critical Supply Chains, including domestic
lithium supply, recently announced by The White House.
Simon Clarke, Chief Executive Officer & Director of American
Lithium stated, “We are very pleased that the BLM has accepted the
Company’s Plan of Operations as complete. This is a key step
towards the approval of the PO and the launch of the next phase of
development and operations at TLC. The proactive and early steps
taken by the Company to ensure that no major environmental issues
exist at TLC are helping us move the project ahead as quickly as
possible and differentiate us positively from several other
claystone projects in Nevada.
At the same time, securing water rights for TLC early in the
process, while recognizing the need to be as water efficient as
possible and to minimize impacts to the land and water surrounding
TLC, has also shown our commitment to be as environmentally
responsible as possible and the retaining of Minviro further
underlines this commitment. Our focus is not only on implementing a
flowsheet to produce battery-grade lithium products at TLC which is
as cost-effective as possible but also one that minimizes any
potential environmental impacts. Our flow-sheet design work and
process engineering continue at a fast pace while we await approval
of the PO and the launch of the next phase of drilling.
TLC’s unique characteristics provide it with the potential to be
amongst the best lithium projects globally from a cost and
environmental perspective.”
TLC Project Update
Plan of OperationsAs reported on January 13th,
2021, the Company filed an Application for a Plan of Operations
(“PO”) for its next phase of development and operations at TLC.
This PO increases the surface disturbance allowance to 168 acres in
two phases, 84.5 acres in Phase 1, and 78.5 acres in Phase 2, and
includes all necessary descriptions of environmental and
reclamation planning for the next phase of operations, which
includes:
- Up to 95 new drill holes to further
understand, characterize and high-grade the extensive TLC resource
and to enable resource expansion to the north, south and west of
the current resource and to upgrade existing resource
classifications. Click here for latest TLC Plan of Operations
Map.
- Up to 5 large test pits planned to
provide bulk sample material for metallurgical testing as the
Company moves to finalize and optimize its flow-sheet design to
produce battery-grade lithium products and to maximize project
economics while minimizing environmental footprint.
- One 5-acre laydown area intended for
future pilot plant work for feasibility phase.
- Biological and cultural surveys that
can be used for future permitting work for feasibility phase and
future mine plan, without additional cost.
The American Lithium team prioritized all environmental and
cultural work early on to fast-track the project towards this next
phase of drilling and testing. The biological surveys conducted for
the PO Application found no species or habitat protected under the
ESA (Endangered Species Act) within the project area, expediting
the Company’s ability to move towards this next phase of
development. Information gained under the proposed new drilling /
testing program will lead to finalization of a preliminary economic
assessment (“PEA”) and a mine plan.
The BLM has accepted and deemed the PO complete with no
significant issues. At this stage of development, and based on the
environmental work conducted to date, the BLM has commenced an
Environmental Assessment (EA) for the TLC Project as opposed to the
more arduous Environmental Impact Study (EIS). With the PO
application now being deemed complete and the EA commenced, the
Company can now focus on the National Environmental Policy Act
(NEPA) requirements for the permitting of future phases of the TLC
project.
Life Cycle Assessment - Minviro Sustainability
Consultants In addition to the fact that the TLC Project
has no endangered species or plants, the characteristics of the
clays-hosted lithium mineralization also provide several
environmental advantages for the recovery of lithium products. The
mineralization is near surface, easy to mine and highly
leachable.
American Lithium has retained Minviro Ltd (“Minviro”) to
complete a Life Cycle Assessment for the production of
battery-grade lithium products at TLC, integrating environmental
impact data into the decision-making process as the Company looks
to finalize and optimize its flow-sheet design. The sustainability
expertise provided by the Minviro life cycle assessment will be a
huge step in ensuring that the flow-sheet design selected leverages
the unique characteristics of TLC claystone mineralization into the
best lithium recovery process from an environmental
perspective.
Minviro, a Registered Sustainability Consultancy headquartered
in London, England, is a team composed of industry experts on
environmental impacts in the mining industry. Robert Pell, PhD.,
Founder and CEO at Minviro, holds a degree on life cycle assessment
of critical metal projects, positioning him as a global expert in
determining the impacts of various mining operations and processing
methods. The Minviro team is rounded out by a team of experienced
engineers and scientists who are passionate about improving the
environmental performance of critical global resource projects.
Qualified PersonMr. Ted O’Connor, P.Geo., a
Director of American Lithium, and a Qualified Person as defined by
National Instrument 43-101 Standards of Disclosure for Mineral
Projects, has reviewed and approved the scientific and technical
geological information contained in this news release.
About American
LithiumAmerican Lithium is actively engaged in the
acquisition, exploration and development of lithium projects within
mining-friendly jurisdictions throughout the Americas. The company
is currently focused on enabling the shift to the new energy
paradigm through the continued exploration and development of its
strategically located TLC lithium claystone project in the richly
mineralized Esmeralda lithium district in Nevada as well as
continuing to advance its Falchani lithium and Macusani uranium
development projects in southeastern Peru. Both Falchani and
Macusani have been through preliminary economic assessments,
exhibit strong additional exploration potential and are situated
near significant infrastructure.
Please watch our informative project update
videos and related background information
at https://www.americanlithiumcorp.com
For more information, please contact the Company
at info@americanlithiumcorp.com or visit our website
at www.americanlithiumcorp.com. Follow us
on Facebook, Twitter and LinkedIn.
On behalf of the Board of Directors of
American Lithium Corp.
“Simon Clarke”
CEO & Director
Tel: 604 428 6128
For further information, please contact:
American Lithium Corp. |
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Email: info@americanlithiumcorp.com |
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Website: www.americanlithiumcorp.com |
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Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press release.
Cautionary Statement Regarding Forward
Looking InformationThis news release contains certain
forward-looking information and forward-looking statements
(collectively “forward-looking statements”) within the meaning of
applicable securities legislation. All statements, other than
statements of historical fact, are forward-looking statements.
Forward-looking statements in this news release include, but are
not limited to, statements regarding the plans, objectives and
advancement of the TLC, Falchani and Macusani Projects (the
“Projects”), exploration drilling plans, in-fill and expansion
drilling plans, results of exploration and development plans,
expansion of resources and testing of new deposits, environmental
and social community permitting, and any other statements regarding
the business plans, expectations and objectives of American
Lithium. Forward-looking statements are frequently identified by
such words as "may", "will", "plan", "expect", "anticipate",
"estimate", "intend", “indicate”, “scheduled”, “target”, “goal”,
“potential”, “subject”, “efforts”, “option” and similar words, or
the negative connotations thereof, referring to future events and
results. Forward-looking statements are based on the current
opinions and expectations of management are not, and cannot be, a
guarantee of future results or events. Although American Lithium
believes that the current opinions and expectations reflected in
such forward-looking statements are reasonable based on information
available at the time, undue reliance should not be placed on
forward-looking statements since American Lithium can provide no
assurance that such opinions and expectations will prove to be
correct. All forward-looking statements are inherently uncertain
and subject to a variety of assumptions, risks and uncertainties,
including risks, uncertainties and assumptions related to: American
Lithium’s ability to achieve its stated goals, including the
anticipated benefits of the acquisition of Plateau Energy Metals
Inc. (“Plateau”); the estimated costs associated with the
advancement of the Projects; risks and uncertainties relating to
the COVID-19 pandemic and the extent and manner to which measures
taken by governments and their agencies, American Lithium or others
to attempt to reduce the spread of COVID-19 could affect American
Lithium, which could have a material adverse impact on many aspects
of American Lithium’s businesses including but not limited to: the
ability to access mineral properties for indeterminate amounts of
time, the health of the employees or consultants resulting in
delays or diminished capacity, social or political instability in
Peru which in turn could impact American Lithium’s ability to
maintain the continuity of its business operating requirements, may
result in the reduced availability or failures of various local
administration and critical infrastructure, reduced demand for the
American Lithium’s potential products, availability of materials,
global travel restrictions, and the availability of insurance and
the associated costs; risks related to the certainty of title to
the properties of American Lithium, including the status of the
“Precautionary Measures” filed by American Lithium’s subsidiary
Macusani Yellowcake S.A.C. (“Macusani”), the outcome of the
administrative process, the judicial process, and any and all
future remedies pursued by American Lithium and its subsidiary
Macusani to resolve the title for 32 of its concessions; risks
regarding the ongoing Ontario Securities Commission regulatory
proceedings; the ongoing ability to work cooperatively with
stakeholders, including but not limited to local communities and
all levels of government; the potential for delays in exploration
or development activities due to the COVID-19 pandemic; the
interpretation of drill results, the geology, grade and continuity
of mineral deposits; the possibility that any future exploration,
development or mining results will not be consistent with our
expectations; risks that permits will not be obtained as planned or
delays in obtaining permits; mining and development risks,
including risks related to accidents, equipment breakdowns, labour
disputes (including work stoppages, strikes and loss of personnel)
or other unanticipated difficulties with or interruptions in
exploration and development; risks related to commodity price and
foreign exchange rate fluctuations; risks related to foreign
operations; the cyclical nature of the industry in which American
Lithium operates; risks related to failure to obtain adequate
financing on a timely basis and on acceptable terms or delays in
obtaining governmental approvals; risks related to environmental
regulation and liability; political and regulatory risks associated
with mining and exploration; risks related to the uncertain global
economic environment and the effects upon the global market
generally, and due to the COVID-19 pandemic measures taken to
reduce the spread of COVID-19, any of which could continue to
negatively affect global financial markets, including the trading
price of American Lithium’s shares and could negatively affect
American Lithium’s ability to raise capital and may also result in
additional and unknown risks or liabilities to American Lithium.
Other risks and uncertainties related to prospects, properties and
business strategy of American Lithium are identified in the “Risks
and Uncertainties” section of Plateau’s Management’s Discussion and
Analysis filed on January 19, 2021, in the “Risk Factors” section
of American Lithium’s Management’s Discussion and Analysis filed on
January 29, 2021, and in recent securities filings available at
www.sedar.com. Actual events or results may differ materially from
those projected in the forward-looking statements. American Lithium
undertakes no obligation to update forward-looking statements
except as required by applicable securities laws. Investors should
not place undue reliance on forward-looking statements. Cautionary
Note Regarding Macusani Concessions Thirty-two of the 151
concessions held by American Lithium’s subsidiary Macusani, are
currently subject to Administrative and Judicial processes
(together, the “Processes”) in Peru to overturn resolutions issued
by INGEMMET and the Mining Council of MINEM in February 2019 and
July 2019, respectively, which declared Macusani’s title to 32 of
the concessions invalid due to late receipt of the annual validity
payments. In November 2019, Macusani applied for injunctive relief
on 32 concessions in a Court in Lima, Peru and was successful in
obtaining such an injunction on 17 of the concessions including
three of the four concessions included in the Macusani Uranium
Project PEA. The grant of the Precautionary Measure (Medida
Cautelar) has restored the title, rights and validity of those 17
concessions to Macusani until a final decision is obtained at the
last stage of the judicial process. A Precautionary Measure
application was made at the same time for the remaining 15
concessions and was ultimately granted by a Court in Lima, Peru on
March 2, 2021 which has also restored the title, rights and
validity of those 15 remaining concessions to Macusani, with the
result being that all 32 concessions are now protected by
Precautionary Measure (Medida Cautelar) until a final decision on
this matter is obtained at the last stage of the judicial process.
A final date for the last stage of the judicial process has not yet
been set. If American Lithium’s subsidiary Macusani does not obtain
a successful resolution of the Processes, its title to the
concessions could be revoked.
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