American Lithium Corp (AMLI)

[chico237]

JULY 12th 2023 - American Lithium Intersects Highest Grade Lithium and Cesium Samples Encountered to Date at Falchani - Up to 5,645 ppm Lithium and up to 12610 ppm Cesium

https://mailchi.mp/americanlithiumcorp/surgeinvestmentclose-8224263?e=1f0e41ab3d
American Lithium Intersects Highest Grade Lithium and Cesium Samples Encountered to Date at Falchani - Up to 5,645 ppm Lithium and up to 12610 ppm Cesium

VANCOUVER, BRITISH COLUMBIA, July 12, 2023 – American Lithium Corp. (“American Lithium” or the “Company”) (TSX-V:LI | NASDAQ:AMLI | Frankfurt:5LA1) is pleased to provide details of assay results from three diamond drill holes recently drilled at the Falchani Lithium project in Puno, southeastern Peru (“Falchani”). These 3 holes were drilled under the ten-hole Environmental Impact Assessment (“EIA”) hydrology drilling program launched at Falchani last fall as part of the EIA hydrology study designed by EDASI SAC and SRK Peru with field work overseen by EDASI. This program has successfully demonstrated that there are no water table issues within proposed development areas across Falchani and the program has also enabled the drilling and analysis of core down to a depth of 120 metres (“m”). Once full results from this program are complete all data and assays will be incorporated into an updated resource report on Falchani to be prepared by Stantec Consulting, Inc (“Stantec”).

Core logging and assay results from these three diamond holes intersected intervals of typical Falchani volcanic tuff as well as large sections of breccias with highlights including Lithium up to 5,645 ppm and Cesium up to 1.22%, the highest grades of both metals encountered to date from 1 m drill core interval samples at Falchani. These holes were drilled in key areas both within and outside the current Falchani resource footprint and will add additional information to the planned mineral resource estimate update with a focus on expanding the overall resource and reclassifying the existing resource. Full details of the results from these three holes are set out below:

EIA Drill Program and Initial Results
Link to: Figure 1 – Falchani EIA Hydrology and Previous Drill Hole Location Map (also see below)
EIA diamond drill hole Pz04-TV (vertical) intersected lithium mineralization over the entire vertical drill hole; 0-120 m averaged 2,186 ppm Lithium (Li); 841 ppm Cesium (Cs); 1,215 ppm Rubidium (Rb); and 2.62% Potassium (K) - (see Table 1 – Drill Hole Pz04-TV results, below):
Several substantial sub-intervals of +3,000 ppm Li intersected;
Maximum Li of 5,645 ppm Li over 1 m at 54 m downhole; and
This drill hole is the westernmost drill hole reported at Falchani and extends the drilled mineralization approximately 250 m further west. Mineralization remains open at depth (>120 m).
EIA diamond drill hole Pz03-TV (vertical) intersected the strongest Cesium mineralization to date with associated moderate lithium mineralization over the upper 63 m downhole averaging 1,428 ppm Li; 4,770 ppm Cs; 1,188 ppm Rb; and 2.67 %K (see Table 2 – Drill Hole Pz03-TV results, below):
The upper interval (0-23 m) is richer in Li with the lower interval (23-63 m) much richer in Cs, including the highest 1 m Cs interval sample encountered at Falchani of 12,160 ppm Cs (1.2% Cs);
Cs mineralization is associated with more intense brecciation and hydrothermal overprint observed in this hole, drilled from within the natural valley separating the east and western parts of the Falchani resource. This hole establishes the deposit thickness/bottom within the valley.
EIA diamond drill hole Pz06-TV (vertical) intersected typical Falchani tuff over the entire 86 m drilled and analyzed to date averaging 2,739 ppm Li; 338 ppm Cs; 1,292 ppm Rb; and 2.87% K (see Table 3 – Drill Hole Pz06-TV results, below); drilling at this location continues in Li mineralization.
Ground water has yet to be encountered in any holes within the 120 m reporting drill depth, so EDASI and the Company is requesting permission from ANA, the National Water Authority, to drill deeper:
10 diamond drill holes were approved for EIA drilling, including installation of downhole piezometers to monitor water table and local groundwater parameters where water is encountered;
Every 5m EDASI collects drill hole wall-rock measurements of moisture content, water, etc. resulting in very slow drill advancement, but essential data and information for feasibility study;
Drill core chemical analysis is required under the EIA, and reporting mineralization is allowed; and
EIA Program is close to completion and additional results will be reported when available.
Simon Clarke, CEO of American Lithium states, “We are excited to have intersected thick, high grade lithium mineralization west of the current Falchani resource footprint, which should allow for resource expansion. The strong cesium and lithium mineralization encountered in the central valley bisecting Falchani is also very interesting from a strategic perspective with higher than previously recorded cesium grades. The entire EIA program will provide valuable additional data to the existing drill results from Falchani.
We are also very pleased to be back working constructively and successfully in Peru. We received the first new permits for the new Quelcaya targets several weeks ago and have also launched a new drill program on some of our best targets across the Macusani Plateau. We anticipate receiving our next drill permits for additional infill and expansion drilling at both the Falchani Deposit and the Macusani Uranium Project shortly. Expanding and reclassifying the resource is a key piece of the updated PEA we are targeting for the end of Q3.



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Form your own opinions & conclusions above!
FALCHANI & TLC PROJECTS ARE GAINING TRACTION - (I think production 2027/2028 is in the cards... keep adding, trading as each investor sees fit!) IMHO

STELLANTIS, FORD,VW & OTHER AUTOMAKERS NEED LITHIUM AS THEY BUILD OUT BATTERY MANUFACTURING SUPPLY CHAINS! AMERICAN LITHIUMS TWO PROJECTS ARE WELL ADVANCED & MY GUESS 3- YEARS OUT @ 2027 timeframe. LOOK FORWARD TO PEA's, then F.S. & Finance & OFF-Take agreements or a BUY-OUT FROM larger Lithium producer...

Chico