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Results from sampling at Fish Lake Valley North Playa - Grades of up to 537 mg/L Lithium
October 12, 2016, American Lithium Corp. (TSXV: Li) (OTCQB: LiACF) (Frankfurt: 5LA; WKN: A2AHEL) (“American Lithium” or the “Company”), is pleased to report results from ongoing near surface auger sampling on the North Playa, Fish Lake Valley (FLV) Esmeralda County, Nevada. A total of 25 samples are reported here, with the highest grade sample being 537 mg/L Li. The average of the samples was 292.4 mg/L Li and the lowest grade sample was 2.4 mg/L Li.
* Details: http://www.americanlithiumcorp.com/news/2016/american-lithium-reports-near-surface-lithium-brine-results-from-auger-sampling-at-fish-lake-valley-north-playa *
These sample sites were located around the circumference of the North Playa demonstrating pervasive lithium enrichment in near surface brines through the North Playa. Further sampling is currently focused on near surface brine on a north-south line through the middle of the playa. Two sonic drill holes have been completed on the South Playa target and samples sent in for testing. One sonic drill hole has been completed on the North Playa with further drilling planned in the coming weeks. Once the Phase II drilling has been completed on the North Playa, the drill rig will be moved to test the Clayton Valley 1 project just north of the Albemarle lithium plant in Clayton Valley Nevada.
“These sampling results demonstrate that the North Playa is a lithium enriched basin and we are excited to be focused on identifying the most potentially economic aspects of the mineralizing system.” commented Michael Kobler, COO of American Lithium. “Few other lithium exploration companies have been able to develop their projects so quickly in the last year as we have and American Lithium will continue to have a busy fall as our exploration programs progress.”
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 content is measured by ICP analysis with an atomic absorption finish.
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”. For further information, please visit the Company's website at www.americanlithiumcorp.com or call 1-604-689-7422.
On behalf of the Board,
American Lithium Corp.
Michael Kobler,
Executive Director
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.
Ltum Signs Investor Relations Agreement
ELKO, NV / ACCESSWIRE / August 11, 2016 / Lithium Corporation (LTUM) "the Company" is pleased to announce that it has signed an agreement with Tamarind Investments Inc., wherein Tamarind agrees to provide advice, and render assistance to the Company with respect to public relations, transaction structuring, and ongoing introductions to investors for the next year.
Tamarind is based in Kowloon, Hong Kong and focuses primarily on the Pacific Rim countries. The terms of the agreement, provide for Tamarind to receive payment for their services in 3 tranches for a total of 1 million shares over the next six months. These shares are restricted with the restriction on the first tranche of 334,000 shares anticipated to be removed in early October.
http://finance.yahoo.com/news/lithium-corporation-signs-investor-relations-132000493.html
American Lithium announces grades up to 389 mg/L Li and up to 2210 mg/L B
VANCOUVER , Aug. 11, 2016 /CNW/ - American Lithium Corp. (TSXV:LI.V) (OTCQB:LIACF) ( Frankfurt : 5LA; WKN: A2AHEL) ("American Lithium" or the "Company"), has received assays from the recently completed 6 initial shallow (2 m) auger drill holes on the North Bowl Playa in its Fish Lake Valley lithium brine project, Esmeralda County, Nevada . Assays of the samples returned lithium values from 25 to 389 mg/L Lithium and 58 to 2210 mg/L Boron (see table below).
The auger drill holes targeted infill drilling in areas of interest from the 2010-11 Phase I exploration as well as extensions of these areas. These results show increased lithium brine grades from the Phase I program which reported maximum values of 150 mg/L Lithium and 2670 mg/L Boron, (NI 43-101 Technical Report, Fish Lake Valley Lithium-Brine Property, Esmeralda County, Nevada , USA, Nov 2015 ). The sample results also continue to demonstrate an inverse relationship between Li and Mg grades which is beneficial as Mg is seen as a deleterious metal in processing lithium brines.
"The Lithium values from these brine assays are significantly higher than the historical brine results from Fish Lake Valley and well within the range that has been reported in the adjacent Clayton Valley. This really demonstrates the robust lithium and boron potential in Fish Lake Valley ." commented Michael Kobler , CEO of American Lithium. "The Company is excited to move forward with sonic drilling to test deeper aquifers with the 13 permitted drill sites this month."
As reported in the July 19, 2016 news release, the Company has also conducted auger sampling in the South Playa of Fish Lake Valley. Six auger holes were drilled but did not penetrate the over burden covering the near surface aquifer and so no samples were taken. The South Playa lithium brine target will be drill tested in the upcoming deeper sonic drill program.
http://finance.yahoo.com/news/american-lithium-announces-grades-25-123000406.html
Lithium Corporation Business Alliance for Lithium Exploration in Nevada
COEUR D'ALENE, Idaho--(BUSINESS WIRE)--
Idaho North Resources (OTC Pink:IDAH) (“IDAH” or the “Company”) announced today that it has formed a business alliance with Lithium Corporation (LTUM) (“LTUM”) for the purpose of locating and exploring lithium-bearing properties in the state of Nevada.
The alliance will allow for a free flow of information, data, concepts, and techniques to be shared between the companies for their mutual benefit and to guide joint exploration efforts. This alliance is not a partnership unless a prospective property is identified and both parties agree to a form 50-50 joint venture to explore that specific property.
IDAH President Lane Griffin stated, “The increased interest in lithium, close proximity to one of the world’s largest battery plants in Reno and the only active American lithium mine near Tonopah, makes this a logical business opportunity for our company. Our focus and experience has been in Nevada and this alliance fits our objective of building shareholder value through the creative acquisition of superior mineral properties.”
http://finance.yahoo.com/news/idaho-north-resources-lithium-corporation-001600761.html
American Lithium’s to conduct a brine auger sampling program
"American Lithium’s geological team also plans to conduct a brine auger sampling program to test for the presence of lithium brine in the shallow soil system of the South Bowl Playa. Sampling will be carried out utilizing 500 m grid spacing to a maximum depth of one meter below surface. Brine samples will undergo ICP-AES analyses for metals and classification of accumulated levels of lithium, boron, potassium and magnesium.
American Lithium’s team has conducted further geophysical surveys on both the North and South Bowl playas, and is updating the Company’s proprietary gravity model for its entire 18,552 acre lithium brine portfolio in Fish Lake Valley, Nevada."
http://www.americanlithiumcorp.com/news/2016/american-lithium-launches-comprehensive-drill-campaign-in-fish-lake-valley-lithium-brine-project-nevada
American Lithium Acquires San Emidio
"Project generator Lithium Corporation completed exploration programs on the San Emidio property from 2009 to 2012, including sediment and brine geochemical studies, gravity geophysics, and two phases of direct push drilling. Anomalous lithium values were detected during the brine sampling program with assays ranging from trace to the highest lithium value of 80 mg/L.
(...)
As is the case at Clayton Valley, lithium concentrations in brines at San Emidio may be reasonably be expected to increase at depth.
(...)
To acquire an eighty (80%) interest in the San Emidio Property, 1067323 is required to make payments of cash and common shares, and incur exploration expenditures, as follows:
An initial cash payment of US$100,000.
Incurring exploration expenditures of not less than US$600,000, consisting of US$100,000 on or before the first anniversary, an additional US$200,000 on or before the second anniversary, and an additional US$300,000 on or before the third anniversary.
Issuing 300,000 common shares of the Company, with 100,000 common shares issuable following the acquisition of 1067323, 100,000 common shares issuable on or before the first anniversary, and 100,000 common shares issuable on or before the second anniversary.
Once 1067323 has earned an eighty (80%) interest in the San Emidio Property, it can acquire the balance of the property, subject to a two-and-one-half (2.5%) percent net smelter returns royalty, through the payment of US$1,000,000."
http://finance.yahoo.com/news/american-lithium-acquires-7-110-210900067.html
American Lithium = Menika Mining = 1032701 B.C. LTD
American Lithium is former Menika Mining. The company changed its name last month. American/Menika bought all shares of 1032701 B.C. LTD. 1032701 B.C. LTD and Lithium Corporation signed a definitive agreement two months ago. Thus LTUM will receive $300.000 and 400.000 shares from American Lithium (trading at about CAD§ 1.20 at the moment) now. Further American Lithium will spend $1,100,000 over the next three years to earn an 80% interest in LTUMs Fish Lake property.
To cut a long story short: American Lithium is our JV partner.:)
Summer-2016 Development Plans for Fish Lake
"We anticipate American Lithium Corp. will follow through with a development program in the range of US$1 million – $1.5 million for its Fish Lake Valley Lithium Project; building out ~3 – 4 miles of roads further into the playa (cost ~$15K/mile), and following additional ground gravity surveys, the team will probably set up a sonic drilling program, which is the most cost effective way (relatively inexpensive) to get the samples geologists need from the sediments. The team should be able to keep to under 5 acres of disturbed land, thus avoiding major permitting issues. The team will also conduct brine recovery, and evaporating testing. In short, the team will hone in on structures and sweet spots. A fault system has already been mapped leading directly through the claim blocks.
Brine is by far the easiest and lowest cost type of lithium resource to process (compared to rock and clays), generally easier to explore, has a small environmental footprint, is faster to put into production, and requires less capital."
http://www.keyc.com/story/31944952/american-lithium-corp-executing-large-scale-strategy-with-goal-of-becoming-largest-resource-holder-in-nevada
Lithium Corporation Signs Formal Agreement on San Emidio Prospect
ELKO, NV / ACCESSWIRE / May 11, 2016 / Lithium Corporation (LTUM) "the Company" is pleased to announce that it has signed a definitive agreement with 1067323 NV LTD, and 1067323 B.C. LTD., private Nevada, and British Columbia companies with respect to the San Emidio lithium brine property in Washoe County, Nevada.
The terms of the formal agreement are: payment of $100,000, issuance of 300,000 common shares of 1067323 B.C. LT., or of the publicly traded company anticipated to result from a Going Public Transaction, and work performed on the property by the Optionee in the amount of $600,000 over the next three years to earn an 80% interest in the property. 1067323 then has a subsequent Earn-In option to purchase Lithium Corporation's remaining 20% working interest within three years of earning the 80% by paying the Company a further $1,000,000, at that point the Company would retain a 2.5% Net Smelter Royalty, half of which may be purchased by 1067323 for an additional $1,000,000. Should the Purchaser elect not to exercise the Subsequent Earn-In, a joint venture will be established. During the Joint Venture, should either party be diluted below a 10% working interest - their interest in the property will revert to a 7.5% Net Smelter Royalty. The first tranche of cash and shares are to be issued within 30 days of the signing of the formal agreement.
For further information with regard to Lithium Corporation, please contact Tom Lewis or Brian Goss at (775) 410-2206 or via email at info@lithiumcorporation.com
About Lithium Corporation
Lithium Corporation is an exploration company based in Nevada devoted to the exploration for energy storage related resources throughout North America, looking to capitalize on opportunities within the ever expanding next generation battery markets. The Company maintains a strategic alliance with Altura Mining, an ASX listed natural resource development company that is currently developing its 100% owned world-class Pilgangoora lithium pegmatite property in Western Australia.
Notice Regarding Forward-Looking Statements
This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of minerals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
http://finance.yahoo.com/news/lithium-corporation-signs-formal-agreement-120000866.html
gravity lows or basement troughs beneath the Lithium Corp acreage.
From our joint venture partner:
"By combining the geologic data sets generated by both Lithium Corp. and Nevada Sunrise Gold Corporation in the Fish Lake Valley , American Lithium has determined that the geologic and structural features are strongly analogous to the structural and geologic settings at Albemarle's Silver Peak Lithium-Brine operation at Clayton Valley, 25 miles to the southeast. Detailed gravity data acquired by Nevada Sunrise last season confirms gravity lows or basement troughs beneath both the Nevada Sunrise and the Lithium Corp acreage. The structural data confirms a bounding northeasterly striking fault, with northeasterly crossing faults, rich in hydrothermal enriching conduits. The team at American Lithium, given the new data, is now implementing a development program to exploit the Fish Lake Valley assets."
http://finance.yahoo.com/news/american-lithium-acquire-atlantis-property-123000143.html
Very encouraging news from our joint venture partner.
American Lithium, our joint venture partner regarding fish Lake, this week completed a $CAD 2 million financing and also seems to comply the same team which was/ is in charge at OSUM oil sands, a 1 billion company. Also impressing: The share price of American Lithium (former Menika Mining) went from 0.05 $CAD to 1.15 $CAD within one year.