American Lithium Corp. (“American Lithium” or the “Company”)
(TSX-V: LI) (OTCQB: LIACF) (Frankfurt: 5LA1) is pleased to announce
additional promising results on process development at its Tonopah
Lithium Claims (“TLC”) Project located close to Tonopah, Nevada.
Highlights:
- New leaching
test work run by TECMMINE in Lima, Peru demonstrates an initial
95.1% lithium extraction using hydrochloric acid leach processing
(“HCI”).
- This HCI option
also allows a large amount of the hydrochloric acid to be
regenerated through pyrolysis and then reused, further lowering
potential reagent and operational costs.
- Metallurgical
work on the TLC claystone mineralization has now demonstrated it is
amenable to three ways of extracting lithium into solution.
- i) leaching with
sulfuric acid (H2SO4) at 80°C (92% extraction)
- ii) salt
roasting followed by water leaching (initial 82% extraction)
- iii) leaching
with hydrochloric acid (HCl) at 90°C (initial 95% extraction)
- This
demonstrates exceptional flexibility to multiple process options
which, coupled with the ability to pre concentrate / upgrade TLC
claystones, positions the Project well.
- Ongoing process
work is focused on optimizing all processing options and flow-sheet
designs to enable a robust Preliminary Economic Assessment (“PEA”)
with economic benefits maximized and environmental impacts
minimized
Dr. Laurence Stefan, COO of American Lithium,
stated “American Lithium continues to explore all relevant
processing options. These new results not only demonstrate the
highest lithium extraction achieved to date, but further indicates
that a variety of lithium extraction options are available to us
for our TLC Claystones and positions us well to deliver a robust
PEA late this year / early next year. All three processes offer us
the ability to produce lithium carbonate. We will focus on
optimizing the best approach from an economic and environmental
perspective.”
American Lithium Provides TLC Process
Update:
Process work has already demonstrated that the
TLC claystones are amenable to rapid lithium extraction using warm
sulfuric acid leaching, reaching 92% lithium extraction in 10
minutes. In addition, up to 82% lithium extraction has been
achieved using salt roasting followed by water leaching (refer to
previous news release, dated June 29, 2021). Recent test work run
at TECMMINE generated 95.1% lithium extraction using HCI at
temperatures of 90°C for 60-minutes.
Like sulfuric acid leaching, HCI leaching
results in impurities in the resulting solution which then need to
be removed, but in this case with the advantage of higher lithium
extraction. Another advantage of hydrochloric acid leaching is the
potential to rejuvenate acid through pyrolysis for reuse. This
could ultimately materially reduce reagent use and the potential
operating costs of a future lithium production operation at
TLC.
Optimization test work will continue into Fall
2021 using all three potential process options: hydrochloric acid,
sulfuric acid as well as salt roasting/water leaching. American
Lithium is committed to producing a world class process to supply
cost competitive lithium products in an environmentally sound
manner.
Qualified PersonsMr. 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 & DirectorTel: 604 428
6128
For further information, please contact:
American Lithium Corp.Email:
info@americanlithiumcorp.comWebsite:
www.americanlithiumcorp.com
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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