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American Lithium Corp (2)
Symbol LI
Shares Issued 60,647,172
Close 2018-10-23 C$ 0.63
Market Cap C$ 38,207,718
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American Lithium samples up to 1,380 ppm Li at TLC

2018-10-23 10:00 ET - News Release

Mr. Michael Kobler reports

AMERICAN LITHIUM VERIFIES LITHIUM POTENTIAL WITH ASSAYS UP TO 1380 PPM ON NEW TONOPAH CLAYSTONE CLAIMS (TLC), PLANS DRILLING AND LEACHABILITY TESTS

American Lithium Corp. has released the results of its first sampling program on the Tonopah lithium claims (TLC project). The TLC project is an early-stage, 1,550-acre lithium claystone project located minutes from the mining centre of Tonopah, Nev., and required infrastructure.

Highlights:

  • Twenty-two grab samples were analyzed, returning grades ranging from 129.5 parts per million to 1,380 parts per million lithium with an average grade of 656.5 parts per million lithium.
  • Sampling was conducted from 12 locations across the TLC claims at a depth of 15 centimetres and again from a depth of 15 centimetres to 45 centimetres to check stratigraphic continuity. Average grades between the two sets were not statistically different.
  • Lithium claystone mineralization is found consistently across the 6.3 square kilometres and appears to be open in all directions.
  • Work by Alaska Nevada Mining Co., the original vendor, suggests the claystone may be amenable to a weak acid leach, and the company is currently verifying these results.

American Lithium has conducted an initial sampling program to confirm and demonstrate the potential of the TLC project. Twenty-two samples were taken at 11 sample sites that confirmed as well as expanded on the sample assays presented by Alaska Nevada. Grab samples were taken at 11 sample sites at depth of 15 centimetres to ensure the claystone was not leached. Grab samples graded ranging from 129.5 parts per million to 1,380 parts per million lithium, with a mean grade of 608.5 parts per million lithium. A second set of chip samples were taken over a depth of 15 centimetres to 45 centimetres to give an understanding on consistency of the grade over a short stratigraphic interval. Chip samples graded ranging from 131.0 parts per million to 1,340 parts per million lithium with a mean grade of 704.5 parts per million lithium.

Alaska Nevada, the project vendor, conducted a comparison test by assaying sample TLC-122 by aqua regia (ME-MS41), a strong nitric and hydrochloric acid leach, against a weak acid leach (ME-MS41W). The lithium values are almost identical: 1,360 parts per million lithium for ME-MS41 and 1,340 parts per million lithium for ME-MS41W. This preliminary testing supports the conclusion that the claystone may be amenable to weak acid leach for recovery of lithium.

American Lithium has prepared six representative samples for assay comparison between aqua regia and weak acid leach. To provide a baseline, the company will also perform a deionized water leach to quantify the amount of chemically free lithium in the claystones.

Mike Kobler, chief executive officer, stated: "Confirmation of the high-grade nature of the TLC lithium claystone results validates the potential of the TLC project. TLC lithium assays are similar to grades at the nearby world-class Rhyolite Ridge claystone deposit and also Cypress Development's Clayton Valley claystone deposit. With great infrastructure and room to grow, the TLC project is well positioned for drill testing and development."

The TLC claystone target is a near-surface, relatively flat-lying, free-digging lithium claystone target which is easily accessible and only 12 miles from the mining centre of Tonopah, Nev. In addition, it is just south of the Crescent Dunes solar energy plant, the cheapest source of electricity in Nevada.

The TLC samples were delivered to and assayed by ALS Minerals in Reno, Nev., utilizing an ME-ICP41 (ICP-OES) analysis package. Quality assurance/quality control blanks and standards have been inserted into the sample stream. The technical information within this news release has been reviewed and approved by Michael Collins, PGeo, a consultant to the company and a qualified person under National Instrument 43-101.

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 two projects -- the FLV and TLC projects -- in the highly prospective Esmeralda lithium district in Nevada. These projects, within 30 miles of each other, are close to infrastructure, 3.5 hours south of the Tesla Gigafactory, and in the same basinal environment as Ablemarle's Silver Peak lithium mine as well as the advancing deposits and resources, including Global Geosciences' Rhyolite Ridge project and Cypress Development's Clayton Valley project.

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