Lithium Corporation (LTUM)

[hazardpay]

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