PRELIMINARY SEISMIC DATA FOR AMERICAN LITHIUM'S NORTH PLAYA FLV PROJECT SHOWS THICKENING OF POTENTIAL LITHIUM CLAY STONE UNIT...
October 31 2018 - 5:58AM
InvestorsHub NewsWire
PRELIMINARY SEISMIC
DATA FOR AMERICAN LITHIUM’S NORTH PLAYA FLV PROJECT SHOWS
THICKENING OF POTENTIAL LITHIUM CLAY STONE UNIT TO THE
SOUTH
Vancouver, BC -- October 31, 2018 -- InvestorsHub
NewsWire -- American Lithium Corp.
(TSXV:
LI) (OTCQB:
LIACF) (Frankfurt: 5LA;) (“American Lithium” or the “Company”)
reports is has received the initial data and
interpretation from the Company’s seismic survey conducted in
August and September, 2018.
Initial interpretation indicates a
general shallowing upward of sediments and unroofing of prospective
Lithium clay stone layers in the west side of the north end of the
Fish Lake Valley (FLV). The target Sediment package that
hosts the neighboring Rhyolite Ridge Lithium deposit is interpreted
to thicken a shallow up on the South end of the Seismic
line.
12 miles, (19km), of seismic line
has been collect over two north-south lines with one east-west tie
line. The
survey was designed to integrate downhole data
from two existing
drill holes and integrate surface mapping to develop a regional
picture of the lithium clay bearing sediment formation seen to the
south in Global Geoscience’s Rhyolite Ridge Lithium Borax
Project.
American Lithium consultant Dr.
John Oldow comments on the preliminary analysis, “The thickness
of the FLV assemblage rocks increases significantly south of the
northwest-trending faults that carry older units including the
Rhyolite Ridge tuff to the surface. South of these faults the
mudstone and sandstone thickens dramatically to over 700
feet.
The thickness of the overlying
sandstone-conglomerate unit does not appear to increase
significantly from north to south. What we may be seeing is
that the rock exposed along the eastern flank of the basin (western
Silver Peak Range) where the thickness of the mudstone-sandstone
greatly thickened to the south; the thickness increase corresponds
to the area where US Borax had high B and Li
concentrations.”
CEO, Mike Kobler states “The
initial interpretation defines sufficient volume of the Rhyolite
Ridge Tuff unit in the Fish Lake Valley sedimentary basin to host a
significant lithium deposit. With receipt of the final
interpretation we expect to be able to speed up the exploration and
definition of potential lithium mineralized zones within this
target member.”
The valley’s prospectivity for
lithium and boron is well known since mining began there in the
1880s. Surging lithium demand and rising prices, along with recent
strategic metal status being declared by the US Government and
breakthroughs in lithium processing methods, have intensified
investment focus onto US domestic lithium production. Principal
among the Fish Lake Valley lithium deposits under evaluation are
lithium claystones, such as the Rhyolite Ridge project undertaken
by Global Geosciences Corp., which adjoins the FLV Project, and is
responsible for Global Geosciences’ $400 million market
cap.
The seismic survey was conducted
by Bird Seismic of Globe Arizona utilizing a Seistronix EX-6 cable
based 24 bit recording system and a United Service Alliance model
AF-450 nitrogen gas accelerated weight drop source and a data
receiver interval of 20” (6m) and a source interval of 20”
(6m).
The technical information within
this news release has been reviewed and approved by Michael
Collins, P.Geo., a consultant to the Company and a qualified person
under National Instrument 43-101.
About
American Lithium Corp.
American Lithium is actively
engaged in the acquisition, exploration and development of lithium
deposits within mining-friendly jurisdictions throughout the
Americas. The Company is currently exploring and developing two
projects, the FLV and TLC Projects, in the highly prospective
Esmeralda Lithium District in Nevada. These projects, within 30
miles of each other, are close to infrastructure, 3.5 hours south
of the Tesla Gigafactory, and in the same basinal environment as
Ablemarle’s Silver Peak Lithium Mine, and the advancing deposits
and resources including Global Geosciences Rhyolite Ridge and
Cypress Development Corp’s Clayton Valley
Project.
For
more information, please contact the Company at info@americanlithiumcorp.com
or visit our 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 release 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.
American Lithium Corp.
Suite 1507-1030 West
Georgia Street, Vancouver, British Columbia, V6E 2Y3
americanlithiumcorp.com
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