American Lithium Summarizes 2018 Achievements
and
Early 2019 Outlook
Vancouver,
B.C. -- December
19, 2018 --
InvestorsHub NewsWire -- American
Lithium Corp. (TSXV: LI) (OTCQB: LIACF) (Frankfurt: 5LA;
)
("American
Lithium" or the "Company") is pleased to report
on the conclusion
of a
successful year in the in the Company's continued exploration and
development of its sediment hosted
lithium
projects at the FLV Project in
Fish Lake
Valley and
the nearby TLC Project near
Tonopah, Nevada. Due to rising interest in
Nevada lithium and particularly sedimentary hosted lithium clay and
claystone deposits as demonstrated by
Lithium America's
Thacker Pass and Ioneer Ltd.'s (formerly
Global
Geoscience's) Rhyolite Ridge
projects, American Lithium
anticipates
increased
attention
and development
in 2019.
At its
Fish Lake
Valley project the Company completed
19 kilometers
of seismic
survey, two stratigraphic drill holes, and gravity survey infill
work. This effort has defined an integrated
geophysical basinal model that indicates the depth and thickness of
claystone sedimentary parcels with the potential to host
significant lithium mineralization at shallow depths.
As a result, the
Company elected to expand the FLV Project
holdings
by
optioning and
staking additional claims to the north and north
east on
highly prospective ground. Initial research into
the
new claim
area resulted in the
identification of outcropping lithium claystones
with historic
assays of up to 930 ppm Li and 500 ppm B. These values are
comparable with the results seen at Ioneer Ltd.'s Rhyolite Ridge project
in what
appears to be a contiguous claystone unit located to the south
of the
American Lithium claims. Recent testing with a LIBS
in-field analytical instrument
(defined below) confirmed grades averaging over 1,000 ppm lithium
on samples in the same zone (see News Release dated
December 12, 2018).
American Lithium
has also leveraged its basin modeling
and understanding of lithium claystone
targets to secure the
1,550-acre
TLC
Project just a 30 minute drive to the
east.
Initial work on
the TLC project has confirmed the grade and extent of the lithium
mineralization and already resulted in the staking of additional
claims. The TLC project is located
close to the town of Tonopah, with logistics support, power and
several options for water supply. The terrain is flat lying with a
thin layer of sediments on top of the
claystones, allowing for low stripping ratios to
access the mineralized claystones
for
exploration and
potentially future production.
Looking ahead to
2019,
American Lithium has secured a drill permit for the FLV
Project and has applied for a similar
permit at TLC. The Company has secured and
tested its SciAps Inc. Z300 Laser-induced
breakdown spectroscope ("LIBS"), which allows
operators
to prospect for
lithium
with real time assays in the field and quickly separate moderately
mineralized claystones from potentially economic lithium claystones.
The Company is also evaluating
leachability of selected lithium enriched claystones
and expects to
report initial results early in 2019. Company employed
as well as
independent
consultants have been tasked with evaluating
potential
processing requirements.
Company
CEO, Mike Kobler
states "Exploration results in 2018 provided us with an exceptional
basin model at Fish Lake and great assays to vector in on as we
look to developing claystone lithium resources and
to further
demonstrate scale
and leachability of the claystones. Our assessment and quick
acquisition of the TLC Project, which is now being expanded, has
brought forward a second lithium claystone
basin that can be advanced rapidly. 2019 will be a watershed year
for American Lithium in Nevada."
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 Albemarle's
Silver Peak
lithium mine and the advancing deposits and resources,
including Ioneer Ltd.'s 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. Follow us on
Facebook,
Twitter and
LinkedIn.
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.