American Lithium
Reports
1,109 Li ppm
over
61
Meters
on
1st
Drill
Hole
at
TLC Project
Vancouver,
British Columbia -- March 19, 2019 -- InvestorsHub NewsWire
-- American
Lithium Corp. (TSXV: LI) (OTCQB: LIACF) (FSE:
5LA) ("American
Lithium" or the "Company") a leading acquisition, exploration and
development operator is extremely
pleased
to announce
outstanding
assay
results from the first phase-one drill hole
on its
630 ha (1,550 acre), TLC lithium claystone project located
just
outside the mining centre of
Tonopah, Nevada.
Highlights
-
First
results
of
18-hole
drill
program
-
1,109
Li
ppm over
61 meters from a
near
surface depth of
11m,
including
1.5m of 1,615 ppm Li
-
Consistent lithium
surface results over 4 square miles, (10 km2) and open in all
directions
-
The
Company is actively staking
additional ground
Drill
hole TLC-1901
|
Top
(m)
|
Bottom
(m)
|
Interval
(m)
|
Grade (Li
ppm)
|
Cut off
(Li ppm)
|
1.5
|
91.5
|
90
|
835
|
300
|
10.7
|
71.7
|
61
|
1109
|
600
|
10.7
|
45.7
|
35
|
1177
|
1000
|
|
|
|
|
|
Mike
Kobler, CEO of American Lithium notes, "We
identified this
initial
discovery
based on
favorable surface grab sampling that returned initial grades as
high as 1,380 ppm Li. Given the consistency
of surface
mineralization
across
the project, we elected the middle
of the claim block as a starting point. From here, we
aim
to maximize our
step-out and build upon
the initial drill hole, outcrop and geochemical
data to
shape
our
drill
targeting
and
understanding of the basin. Based on the
excellent
initial
results, we're
actively
staking additional
surrounding
lands."
As
previously announced, the wholly-owned
Tonopah Lithium Claystone (TLC) Project is scheduled for
an
extensive phase one drill program undertaken by Harris Exploration
Drilling and Associates Inc., of Fallon, Nevada.
The first phase began mid February and calls for
a series
of holes at 100m (300 foot)
average depths to a maximum of 160m (500 feet) and will encompass a
total of 1,600 m (5,000 feet)
of 5.5 diameter reverse circulation drill sampling to increase the
scope and eventual valuation of this prospective lithium-bearing
claystone-rich environment.
In
summary, the Company reports the results from
the first discovery
drill
hole indicate limited overburden approximately 1.5
meters
thick, with a
significant near surface
72-meter-thick
lithium
enriched area of
mineralization. Additional drill
results
anticipated within the next two weeks should aid in the
determination of area-wide grade and thickness assessment. Company
management looks forward to providing further results as they
become available.
QA/QC
Statement
Drilling
was conducted by Harris Exploration Drilling and Associates Inc.,
of Fallon, Nevada utilizing a "1500 Explorer" reverse circulation
rig with a 5 diameter hole with face centred bit. Sampling was
conducted using a riffle splitter or a cyclone splitter depending
on the moisture content of the sampled material. Sampling was
conducted over 5-foot (1.52m) intervals. Sample custody was
maintained by the company's consultants throughout the sampling and
logging process. The company has a rigorous QA/QC program utilizing
blanks, duplicates and a high and a low-grade lithium standard
material. Duplicates and standard material are inserted into the
sample stream on a 5% and 5% basis, and blank material was inserted
at the start and finish of drill hole sample set. Samples were sent
to American Assay Laboratories in Sparks Nevada for analysis
utilizing the ICP-MS analysis protocol. Selected check assays
samples were sent to the Bureau Veritas in Reno/Vancouver for
analysis by ICP-MS.
About
American Lithium Corp. (TSX.V: Li) (OTCQB:
LIACF) (FSE:
5LA)
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 its
TLC
and
FLV Projects
located
in the
highly prospective Esmeralda Lithium District in Nevada. These
projects, within 48 km (30 miles) of each other, are close to
infrastructure, 3.5 hours south of the Tesla Gigafactory,
and similar
mineralization characteristics as Albemarle's Silver
Peak Lithium Mine, and the advancing deposits and resources
including Ioneer Inc.'s (formerly Global Geosciences) Rhyolite
Ridge and Cypress Development Corp's Clayton Valley
Project.
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.
American
Lithium is a TSX
Venture
50 company. 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.