- Identifies historic data on lithium and boron mineralization
on eastern margin of Fish Lake
Valley;
- The US Borax report suggests that the mineralization was
deposited from enriched hydrothermal brine fluids
- Exploration teams will be mobilized to sample exposed target
outcrops on American Lithium claims.
VANCOUVER, Aug. 8, 2016 /CNW/ - American Lithium
Corp. (TSXV: Li) (OTCQB: LiACF) (Frankfurt: 5LA; WKN: A2AHEL) ("American
Lithium" or the "Company"), is pleased to announce that the company
has identified historic drilling information from US Borax reports
that identifies a lithium and boron hydro thermal enrichment on the
east side of Fish Lake Valley. This information defines a new
lithium and borax target in the Lower Fish Lake Assemblage ("LFVA")
which outcrops onto the Companies claims on the eastern side of the
Fish Lake Valley.
The historic report contains grades and intervals of lithium and
boron*.
LITHIUM
|
BASIN
|
AREA (MI2)
|
AVG
TW (ft)
|
Range DHD
to Top Li
(avg)
|
AVG
Li (ppm)
|
%
Li
|
TONS CLAY*
X109
|
TONS LI
X 106
|
ALL
|
2.8
|
410
|
30-970
(419)
|
1097
|
0.11
|
2.08
|
2.28
|
BORON
|
BASIN
|
AREA (MI2)
|
AVG
TW (ft)
|
Range DHD
to Top B
(avg)
|
AVG
B (ppm)
|
%
B2O3
|
TONS CLAY*
X
109
|
TONS B2O3 X
106
|
ALL
|
2.8
|
188
|
30-970
(419)
|
5515
|
1.78
|
0.968
|
17.23
|
-Calculations assume a 2.25 gm/cm3 specific gravity
and use 15ft3/ton conversion factor.
*The resource estimate of the Fish Lake Hills deposit, (US
Borax project report, 1987) is a historic resource therefore the
estimate cannot and should not be relied upon. The historic
estimate has been presented here to demonstrate the evidence of
brine and sediment enrichment in lithium. There is no
certainty that the historic grades and intervals identified in US
Borax drilling will extend into the companies claims.
The LFVA that hosts these historic drill holes is laterally
continuous and outcrops on the American Lithium Claims on the east
side of the claim package. The LFVA is also expected to
extend into the Fish Lake basin to the west where the sediments are
down dropped by the faulting that formed the Fish Lake Basin.
"The identification of high grade lithium and boron in clays at
and near surface in Fish Lake
Valley demonstrates both a stand alone lithium clay target
as well as the potential for the presence of lithium enriched
brines." comments Mike Kobler, Chief
Executive Officer of American Lithium. "Furthermore, we are
excited to have this additional information to integrate into our
exploration model as we move to being drilling our Fish Lake
lithium brine targets in August/September
2016."
Under the direction of Dana Brock, P.E., R.G., C.E.G., Vice
President, Geosciences and Engineering, The company will be
mobilizing a field crew to map and sample the exposed LFVA
sediments. Additionally, work by Dr Oldow's basin modelling
group will help define the depth of the intersection of the LFVA
with the basin sediments and qualify that target in relation to the
Upper Fish Lake Assemblage which hosts the lithium brine production
at Ablemarle's wells in the adjacent Clayton Valley.
Michael Collins, P.Geo. is
independent of the company and 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 20,790 acres (8,413 hectares), including 18,552 acres
(7,508 hectares) in Fish Lake
Valley, Esmeralda County,
and the 2,240 acre (907 hectare) San Emidio Project in Washoe
County. The Company's Fish Lake
Valley lithium brine properties are located approximately 38
kilometers from Albemarle's Silver Peak brine extraction plant, 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.
On behalf of the Board,
American Lithium Corp.
Michael Kobler, Chief Executive
Officer
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.
SOURCE American Lithium Corp