American Lithium Submits Plan of Operations to the Bureau of Land Management for the Next Phase of Operations
January 13 2021 - 9:00AM
American Lithium Corp. (TSXV: LI) (OTCQB: LIACF)
(Frankfurt: 5LA1) (“American Lithium” or the “Company”), a
leader in acquisition, exploration and development, reports it has
submitted its Plan of Operations to the Bureau of Land Management
(BLM) moving it towards its next phase of development and
operations at its flagship Tonopah Lithium Project (TLC) project
near Tonopah, Nevada.
Drilling during 2019 and 2020 resulted in the
discovery of a high-quality lithium deposit that is amenable to
leaching with a measured and indicated resource of 5.37 million
tonnes lithium carbonate equivalent (LCE) and another 1.76 million
LCE inferred. As ongoing process and flowsheet engineering
continues, it is critical to move towards further understanding of
the deposit and to the development of a pilot plant for process
stream testing to refine the economics of the project.
The Plan of Operations increases the surface
disturbance allowance to 168 acres in two phases, 84.5 acres in
Phase 1, and 78.5 acres in Phase 2, and includes all necessary
descriptions of environmental and reclamation planning for the next
phase of operations, which includes:
-
95 new drill sites to further characterize the extensive TLC
resource
-
5 large test pits to provide bulk sampling for
metallurgical testing
-
One 5-acre laydown area intended for the future pilot plant
-
Biological and cultural surveys that can be used for further
permitting without additional cost
The American Lithium team prioritized all
environmental and cultural work early on to fast-track the project
towards this next phase of drilling and testing. The biological
survey found no species or habitat protected under the ESA
(Endangered Species Act) within the project area expediting company
ability to move towards the next phase. Information gained under
the proposed new drilling program will lead to a mining plan.
Michael Kobler, CEO of American Lithium, states
“We are pleased to submit this application for a Plan of Operations
to the BLM as we move this project forward. There have been no
significant environmental issues, so the project is ready to move
forward and produce bulk sampling for our extensive metallurgical
testing program and planned pilot plant operation. This exciting
development will further advance TLC toward the development of a
large-scale, lithium mine in the United States.”
The Plan of Operations, along with the
associated Biological and Cultural Surveys were produced in
conjunction with EM Strategies, Inc. of Reno, Nevada.
Stock Option Grant
American Lithium also announces that, pursuant
to its Stock Option Plan, it has granted stock options to certain
consultants to purchase an aggregate of 500,000 common shares of
the Company at a price of $1.98 per share for a period of 5 years
from the grant date. This stock option grant is subject to
acceptance by the TSX Venture Exchange.
About the TLC Property
The TLC sedimentary lithium discovery is an
exploration and development project located 12 kilometres northwest
of Tonopah, Nev., and easily accessible by paved highway. Work to
date has identified a 5.3-million-tonne measured and indicated
lithium carbonate equivalent resource, with an additional 1.7
million tonnes inferred, placing the Company's resource amongst a
handful of potential lithium deposits in Western North America
capable of development. TLC is near surface, relatively flat-lying
and a free-digging lithium sedimentary deposit that the company
expects to advance through an early-stage economic study in 2021.
Just south of the Crescent Dunes solar energy plant, the project is
favourably located for future production given the immediate access
to some of the cheapest electricity in Nevada.
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 the TLC 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.
The technical information within this news
release has been reviewed and approved by Bruce Kienlen, P.Geo., a
consultant to the Company and a qualified person under National
Instrument 43-101.
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
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.
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