VANCOUVER, Nov. 3, 2016 /CNW/ - American Lithium
Corp. (TSXV: Li) (OTCQB: LiACF) (Frankfurt: 5LA; WKN: A2AHEL) ("American
Lithium" or the "Company"), is pleased to report a second round of
results from near surface auger sampling on the North Playa,
Fish Lake Valley, Esmeralda County, Nevada.
Highlights:
- Second successful shallow auger program at North Playa
Fish Lake Valley, Nevada
- 26 of 29 shallow auger drill holes returning Lithium grades
in excess of 150 mg/L; the average for all holes being 254
mg/L
- Continuation of excellent shallow Lithium mineralization and
strong inverse relationship of high Lithium grades with low
Magnesium grades
- 54 auger holes in total now completed by Company to date,
demonstrating consistency of shallow high grade lithium enrichment
across North Playa
A total of 29 samples are reported here, with the highest-grade
sample being 426 mg/L Li. The average of the samples was 254 mg/L
Li and the lowest grade sample was 10 mg/L Li. The previously
reported low Magnesium levels continues to be the case with
Magnesium grades being sub 0.1 mg/L on average.
Element:
|
Li
|
Mg
|
Element:
|
Li
|
Mg
|
Detection
Limit:
|
0.1
|
0.1
|
Detection
Limit:
|
0.1
|
0.1
|
Reporting
Unit:
|
mg/L
|
mg/L
|
Reporting
Unit:
|
mg/L
|
mg/L
|
1431026
|
198
|
<0.1
|
1431041
|
314
|
<0.1
|
1431027
|
269
|
<0.1
|
1431042
|
324
|
<0.1
|
1431028
|
233
|
<0.1
|
1431043
|
319
|
<0.1
|
1431029
|
240
|
<0.1
|
1431044
|
310
|
<0.1
|
1431030
|
292
|
<0.1
|
1431045
|
301
|
<0.1
|
1431031
|
263
|
<0.1
|
1431046
|
271
|
<0.1
|
1431032
|
249
|
<0.1
|
1431047
|
265
|
<0.1
|
1431033
|
144
|
<0.1
|
1431048
|
222
|
<0.1
|
1431034
|
10
|
<0.1
|
1431049
|
187
|
<0.1
|
1431035
|
91
|
<0.1
|
1431050
|
197
|
<0.1
|
1431036
|
179
|
0.3
|
1431051
|
330
|
<0.1
|
1431037
|
243
|
<0.1
|
1431052
|
348
|
<0.1
|
1431038
|
246
|
<0.1
|
1431053
|
312
|
<0.1
|
1431039
|
288
|
<0.1
|
1431054
|
426
|
<0.1
|
1431040
|
310
|
<0.1
|
|
|
|
For a detailed sample location map please click the link here :
http://www.americanlithiumcorp.com/assets/img/news/2263E94E-2D07-4BD8-9204-C12C9D40916C.jpg
This is the second set of near surface brine samples from the
North Playa and the samples were located around the circumference
of the North Playa, inside of the first sample series as well as in
the central southern portion of the North Playa. The results
presented here demonstrate pervasive lithium enrichment in near
surface brines throughout the sampled areas of the North
Playa.
"These sampling results are very consistent with the previous
series of auger results. We believe they demonstrate the robust
lithium distribution throughout the near surface of the North
Playa. Exploration results from the North Playa have thus far
have exceeded our expectations." commented Michael Kobler, COO of American Lithium.
"American Lithium will continue to focus on exploration on the
Fish Lake Valley and Clayton Valley projects as we work toward our
goal of becoming Nevada's premier
lithium exploration company."
In previous programs, near surface brines were sampled using a
conventional hand held auger to sample sub surface brines at a
depth of 78" (2m), The brine was sampled at the bottom of the auger
hole and then separated from residual clays before being sent for
analysis. For this expanded near surface brine sampling
program the Company has developed a new methodology for
sampling. Instead of an auger system, a four-inch diameter
pipe is driven into the ground to a depth of approximately 55"
(1.4m) and then pulled out of the hole. A 2.5" (6.3cm)
perforated pvc pipe is placed in the hole to keep it open while
clay solids settle to the bottom of the hole. The brine is
then sampled just above the settled material at the bottom of the
hole. Samples are collected and shipped to Florin Analytical
Services in Reno, Nevada where the
Lithium is being determined by AAS (Atomic Absorption Spectrometry)
and other elements are determined by ICP-AES (Inductively-coupled
Plasma - Atomic Emission Spectrometry).
Michael Collins, P.Geo. is the
Company's designated Qualified Person within the meaning of
National Instrument 43-101, and has reviewed and approved the
technical information contained in this news release.
ABOUT American Lithium Corp.
American Lithium Corp.
is actively engaged in the acquisition, exploration and development
of lithium deposits within mining-friendly jurisdictions throughout
the Americas. American Lithium holds options to acquire
Nevada lithium brine claims
totaling 22,332 acres (9,038 ha), including 18,552 contiguous acres
(7,508 ha) in Fish Lake Valley,
Esmeralda County; 2,240 acre (907
ha) San Emidio Project in Washoe
County; and the 1,540 acre (623 ha) Clayton-Valley-1
Project. The Company's Fish Lake
Valley lithium brine properties are located approximately 38
kilometers from Albemarle's Silver Peak, the largest lithium
operation in the U.S., approximately 3.5 hours from the Tesla
Gigafactory. American Lithium is listed on the TSXV under the
trading symbol "Li".
On behalf of the Board,
American Lithium Corp.
Michael Kobler,
Executive Director, COO
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 document 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.
SOURCE American Lithium Corp