Amerilithium Announces New Technical Report & Provides Exploration Update for Nevada Based Jackson Wash Lithium Project
May 09 2013 - 10:00AM
Marketwired
Amerilithium Corp. (OTCQB: AMEL) ("Amerilithium" or the "Company")
announces that it has received a new technical report (the
"Report") on the Company's Jackson Wash Lithium Brine Project (the
"Jackson Wash Project") in Esmeralda County, Nevada. According to
the Report, the Jackson Wash Project has the potential to contain
economic lithium resources. As such, the Company confirms the
location of its previously identified 4 drill hole locations as
part of a permitted 10-hole drilling exploration plan for the
Jackson Wash Project that is designed to identify the presence,
quantity, and quality of any lithium-bearing groundwater present in
the property's subsurface.
The Company would also like to announce that it is in receipt of
results from initial sampling on the companies Australian
properties. Results will be reported once analysis and evaluation
has been completed.
The Report is available for download on the Amerilithium website
at http://www.amerilithium.com.
The Report is part of Amerilithium's current exploration of its
portfolio of properties with the intent of identifying and
developing lithium resources. Additional reports will follow, one
on each of the Company's remaining Nevada lithium properties. Each
report will provide an update on the respective project's stage of
exploration and potential drilling plans.
Matthew Worrall commented: "The Report as per the one previously
released for our Clayton Deep project, summarizes and confirms
previously released findings of our preliminary stages of
geophysical exploration, and suggests the formations and structures
below are similar to those currently being exploited for lithium
production in nearby Clayton Valley. The report was produced to
provide the clarification we need on the best course to move
forward. The Report has confirmed that the status of the Jackson
Wash Project has been received, disseminated and compiled in
compliance with 43-101 and Guide 7 requirements and we believe its
findings warrant further investigation."
REPORT & EXPLORATION PLAN DETAILS
The Report was authored by Robert M. Allender, Jr., CPG, RG, SME
(May 03, 2013), who has personally inspected the property on
numerous occasions since its acquisition in September 2011, and has
been responsible for the planning and implementation of exploration
activities for the Jackson Wash Project and other
Amerilithium-owned properties in the Clayton Valley area.
Although the report does not state any reserves for the
property, it was prepared as a Canadian National Instrument 43-101
Technical Report, in accordance with Form 43-101F1, and qualifies
to be filed with the US Securities Exchange Commission pursuant to
Guide 7, Description of Property by Issuers Engaged or to be
Engaged in Significant Mining Operations.
The Jackson Wash property is comprised of 65 unpatented placer
claims totaling 2,450 acres (991 hectares). The claims cover the
Jackson Wash Basin Gravity Low, previously identified by a regional
United States Geological Survey gravity investigation. The geologic
formations that compose the surrounding mountain ranges contain
unusually high concentrations of lithium. Amerilithium's past
geophysical investigations have identified geologic formations and
structures that are consistent with the lithium-bearing brine
deposit models that are elsewhere present in Clayton Valley.
Furthermore, the geophysical signature of these formations and
structures suggests they are similar in nature to those currently
being exploited for lithium brines at other facilities. Based on
the results from the preliminary exploration geophysics, the
project warrants further investigation.
The next logical steps in the process of exploration for the
Jackson Wash Project include drilling and sampling of the sediments
and groundwater in the basin. Physical examination of the drill
cuttings and laboratory analysis of water and sediments is the most
cost effective way to determine the presence or absence of economic
lithium deposits beneath the property. The Company has received
approval from USBLM for a 10-hole drilling program on the Jackson
Wash property. The Notice of Intent to conduct exploration drilling
at Jackson Wash was submitted to USBLM on May 7, 2012 and approved
on July 5, 2012. The first four holes are designed to test specific
structural and stratigraphic targets identified by the geophysical
surveys. Based on the success of the first four holes in finding
brine aquifers and anomalous lithium contents, the additional six
holes would be placed to expand on the information about
hydrogeology and lithium mineralization that might be
discovered.
The initial exploration program is proposed to consist of
drilling 4 reverse circulation drill holes to a maximum depth of
2,770 feet (845 meters). Average drill hole depth is anticipated to
be approximately 1,898 feet (579 meters). All drill holes will be
vertical in orientation.
Additional Information
More information on the Jackson Wash Lithium Project, and
additional information regarding the Company, can be found at
Amerilithium's corporate website www.amerilithium.com along with
the facility to sign up for regular news updates.
About Lithium
Lithium is a lightweight metal used in a wide range of consumer
products all over the world: the medical industry uses lithium as
an anti-depressant; industrial uses include glass, ceramic and
porcelain enamel manufacture; and the aviation industry uses
lithium in alloys. Of particular interest is the use of lithium for
battery production, which has expanded significantly in recent
years due to rechargeable lithium batteries being used increasingly
in electrical tools and in the rapidly expanding portable
electronics market. Furthermore, the next generation of hybrid and
electric vehicles are being designed to use high-capacity
lithium-ion batteries as environmentally-friendly fuel
alternatives, while the Obama administration has introduced $5
billion in funding and incentives for the development of a secure,
domestic battery industry with special focus on lithium-ion
batteries.
About Amerilithium
Amerilithium is a publicly traded (OTCQB: AMEL) mining company
committed to progressively developing into one of the leading U.S.
companies in the global lithium industry. The Company is
headquartered in Henderson, NV. Amerilithium has amassed a lithium
portfolio consisting of approximately 719,779 acres, including four
Nevada-based projects nearby the only lithium producing plant in
the U.S., a large project in Alberta, Canada, and a project in
Western Australia.
Forward Looking Statements
The information contained herein includes forward-looking
statements. These statements relate to future events or to our
future financial performance, and involve known and unknown risks,
uncertainties and other factors that may cause our actual results,
levels of activity, performance, or achievements to be materially
different from any future results, levels of activity, performance
or achievements expressed or implied by these forward-looking
statements. You should not place undue reliance on forward-looking
statements since they involve known and unknown risks,
uncertainties and other factors which are, in some cases, beyond
our control and which could, and likely will, materially affect
actual results, levels of activity, performance or achievements.
Any forward-looking statement reflects our current views with
respect to future events and is subject to these and other risks,
uncertainties and assumptions relating to our operations, results
of operations, growth strategy and liquidity. We assume no
obligation to publicly update or revise these forward-looking
statements for any reason, or to update the reasons actual results
could differ materially from those anticipated in these
forward-looking statements, even if new information becomes
available in the future.
Contact: Amerilithium Corp 871 Coronado Center Dr., Ste. 200
Henderson, Nevada 89052 Phone: (702) 583-7790 Fax: (702) 583-7791
Email: info@amerilithium.com Web: www.AmeriLithium.com Investor
Relations: Ryan Troup Toll Free: 1 (888) 982-6374 Email:
ir@amerilithium.com
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