American Lithium Co-recipient of U.S. Department of Energy Grant For US$4.5M Lithium Processing Pilot Plant
March 04 2021 - 6:00AM
American Lithium Corp. (TSXV: LI) (OTCQB: LIACF)
(Frankfurt: 5LA1) (“American Lithium” or the “Company”), a
global leader in the exploration and development of lithium
projects, reports being selected by the U.S. Department of Energy
Advanced Manufacturing Office (“DoE”), with co-recipient American
Battery Technology Company (formerly called American Battery Metals
Corporation) (“ABTC”) and another industry partner, to receive
grant funding totalling 50% of the capital cost for a US$4.5
million lithium extraction/hydroxide pilot plant.
The grant provides funding to complete field
demonstration of selective leaching, targeted purification, and
electro-chemical production of battery grade lithium hydroxide
precursor from US claystone deposits, and more specifically
American Lithium’s TLC Project, near Tonopah, Nevada (“TLC”). The
funding is part of US government agencies’ efforts to reduce
American dependence on foreign supply of important critical
minerals including battery metals required for American energy
storage needs, including the electrification of the vehicle sector.
Further details on the project are available here.
Specifically, this project will look to utilize
ABTC’s proprietary lithium extraction technologies to extract
lithium from American Lithium’s unique TLC claystone deposits. The
lithium mineralization at TLC has a number of unique properties and
has shown the potential, utilizing more traditional methods of
extraction, for fast, efficient, and cost-effective lithium
extraction. While the Company will proceed with its own initiatives
to establish the best, commercially viable process for lithium
extraction from TLC, it will concurrently take part in this DoE
funded pilot project utilizing ABTC’s technologies in combination
with TLC claystone deposits.
Mike Kobler, CEO of American Lithium, stated,
“We are extremely pleased to partner with ABTC on this high profile
pilot project with funding from the Department of Energy. We
believe that it is a strong validation of the unique
characteristics of lithium mineralization at TLC that the US
Government selected this project to back and provide funding for.
It’s exciting to be working with ABTC and others on this
multi-year, industry led partnership to improve the production of
lithium hydroxide from domestic sources. Together, we can be
leaders in the growth of lithium chemical supply in the burgeoning
field of large-scale battery manufacturing in the United
States.”
Injunction Granted to Plateau Energy
Metals Peruvian Subsidiary Relating to Disputed Peruvian
Concessions
American Lithium is also pleased to refer
readers to the announcement made by Plateau Energy Metals
(‘Plateau”) on March 2, 2021 confirming that its subsidiary,
Macusani Yellowcake S.A.C (“Macusani”), has now been granted
injunctive protection in relation to 32 concessions which are
currently subject to an ongoing judicial review in Peru. This
judicial process relates to claims from local regulators, disputed
by Macusani, that it was late in paying its 2017 annual validity
rights relating to these concessions.
This injunction is a precautionary measure
(“Medida Cautelar”) which restores the ownership, rights and
validity of the disputed concessions to Macusani while the legal
process is ongoing. Both American Lithium and Plateau Energy Metals
view this as a very positive development as it eliminates the
possibility of any of the disputed concessions being transferred to
other parties while the legal process is ongoing. The full
announcement by Plateau can be viewed at:
https://plateauenergymetals.com/plateau-energy-metals-announces-grant-of-injunction-to-macusani-for-concessions-in-peru/
Simon Clarke, Director of American Lithium,
stated, “Our recently announced acquisition of Plateau is made on
the basis of the assets and team in place at the time of
announcement and is not predicated in any way upon these disputed
concessions being fully restored. We believe there are strong
synergies between the two companies and a strong rationale for
combining them.”
About American Lithium
American Lithium, a TSX Venture 50 Company, is
actively engaged in the exploration and development of lithium
deposits within mining-friendly jurisdictions throughout the
Americas. The company is currently exploring and developing
the TLC lithium project located in the highly prospective Esmeralda
lithium district in Nevada. TLC is 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 several
advancing deposits and resources, including Ioneer Ltd.’s (formerly
Global Geoscience) Rhyolite Ridge and Cypress Development Corp.’s
Clayton Valley Project.
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
statementsStatements 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.
For further information, please contact:
American Lithium Corp.Email:
info@americanlithiumcorp.comWebsite: https://www.americanlithiumcorp.com/
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