American Lithium Starts Drilling at Fish Lake Valley North Playa, Nevada, USA
Vancouver, British Columbia, September 20th, 2016 – American Lithium Corp. (TSXV: LI) (OTCQB: LIACF) (Frankfurt: 5LA; WKN: A2AHEL) (“American Lithium” or the “Company”), is pleased to announce that, further to its release of September 6th, the Company has now started sonic drilling at the 7,840 acre/3,172 ha. North Playa zone of its Fish Lake Valley project, located in Esmeralda County, Nevada. The drill program is designed to collect information on aquifer characteristics and lithium values in aquifer brines in order to support development of the Company’s lithium resources.
The Company will utilize a sonic drill which is unique in that it can both take continuous samples of drill core while also being able to sample subsurface water in intersected aquifers and pump test these same aquifers. This unique ability will allow the Company to derive more information from the program than either an RD or diamond drill program. The sonic drill can effectively sample sediments and test aquifers to a depth of 150m (500’). The Company recently completed a grid sampling project at the Fish Lake Valley North Playa project area where one-metre deep brine samples were collected over a 300 metre grid area.
“We are excited to now be drilling the North Playa area. The North Playa has historically produced good lithium results from both surface testing and the deeper (15 meter) direct push programs. We will now be able to test to see if those results continue to a depth of 150 to 200 meters.” commented Michael Kobler, Executive Director and COO of American Lithium.
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 call 1-604-689-7422 or visit the Company’s website at www.americanlithiumcorp.com.
On behalf of the Board,
American Lithium Corp.
President and 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.
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.