AMERICAN LITHIUM VERIFIES LITHIUM POTENTIAL WITH ASSAYS UP TO 1380 PPM ON NEW TONOPAH CLAYSTONE CLAIMS (TLC), PLANS DRILLING...
October 23 2018 - 9:00AM
InvestorsHub NewsWire
AMERICAN LITHIUM VERIFIES LITHIUM POTENTIAL WITH ASSAYS UP TO 1380
PPM ON NEW TONOPAH CLAYSTONE CLAIMS (TLC), PLANS DRILLING AND
LEACHABILITY TESTS
Vancouver,
BC, CANADA -- October
23,
2018 -- InvestorsHub NewsWire -- American
Lithium Corp. (TSXV: LI) (OTCQB: LIACF) (Frankfurt:
5LA;)
("American Lithium"
or the "Company") is
pleased
to announce the results of its
first
sampling program on the Tonopah Lithium
Claims, (TLC
Project).
The TLC
Project is an early stage 1,550 acre
lithium
claystone project located minutes from the mining centre of
Tonopah, Nevada, and required infrastructure.
-
22
grab
samples
were analysed
returning
.656.5
ppm Li grade of
average
with
a thium
Li)ppmparts
per million (grades ranging from
129.5 to 1380
-
Sampling
was conducted from
12
locations across the TLC
claims at a depth of 15
centimetres
(cm) and
again
from 15
to 45cm depth to check stratigraphic
continuity.
Average grades between the two sets were not statistically
different.
-
Lithium
claystone mineralization is found consistently across the
6.3
square kilometres and
appears
to be open in all
directions.
-
Work
by Alaska Nevada Mining
Co., the original vendors, suggests
the
claystone may be amenable to a weak acid leach and the Company is
currently verifying
these
results.
American
Lithium has conducted an initial sampling program to confirm and
demonstrate the potential of the TLC project. 22 samples were taken
at 11 sample site that confirmed as well as expanded on the
sample
assays presented by the vendors Alaska Nevada. Grab samples were
taken at 11 sample sites at
depth of 15 cm to ensure the claystone
was not leached. Grab
samples graded
ranging
from 129.5 to 1380
ppm Li with a mean grade
of 608.5
ppm Li. A second set of
chip samples were taken over a depth of
15 to 45
cm to give an understanding on
consistency of the grade over a short stratigraphic
interval. Chip
samples graded ranging from 131.0
to 1340
ppm Li with a mean grade
of 704.5
ppm Li.
Alaska
Nevada Mining Co., the project vendors, conducted
a
comparison test by
assaying
sample
TLC-122 by Aqua Regia (ME-MS41), a strong nitric and
hydrochloric acid leach, against
a weak
acid leach (ME-MS41W). The lithium values are almost
identical; 1360 ppm Li for
ME-MS41 and
1340 ppm
Li for ME-MS41W. This preliminary
testing supports the conclusion that the claystone may be amenable
to weak acid leach for recovery of lithium.
American
Lithium has prepared 6
representative samples for assay
comparison between Aqua Regia and weak acid leach. To provide a
base line the Company will
also perform
a
deionized water leach to quantify the amount of chemically free
lithium in the claystones.
CEO, Mike
Kobler states "Confirmation
of the high grade nature of the TLC Lithium claystone results
validates the potential of the TLC Project. TLC lithium assays are
similar to grades at the nearby world class
Rhyolite Ridge Claystone deposit and also Cypress Development's
Clayton Valley Claystone deposit. With
great infrastructure and room to grow, the TLC project is well
positioned for drill testing and development."
The TLC
claystone target is a near surface, relatively flat
laying, free digging
lithium claystone
target
which is easily
accessible
and
only
12
miles
from the
mining center of Tonopah Nevada. In addition, it is
just south of the Crescent Dunes Solar Energy Plant, the cheapest
source of electricity in Nevada.
The
TLC samples were delivered
to and assayed by ALS Minerals in Reno Nevada utilizing an
ME-ICP41, (ICP-OES) analysis package. QA/QC
Blanks
and Standards have been inserted into the sample
stream. 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.