The FLV property sits in the highly productive Esmeralda Lithium District, which includes Fish Lake Valley and it’s lithium occurrences. The property is 2.6 km west of Ioneer Ltd.’s (formerly Global Geoscience’s) Rhylolite Ridge Lithium/Boron project where a measured and indicated resource exceeding 4 million tonnes lithium carbonate (LiCo) in claystones, is currently under feasibility study. The FLV property is approximately 18 miles west of Albemarle’s Silver Peak project in Clayton Valley, the oldest and largest commercial lithium producer in the U.S.
Fish Lake Valley exhibits similar geological and geophysical characteristics to nearby Clayton Valley where over geologic time lithium is liberated from unstable volcanic glass within ancient tuff deposits and then concentrated in claystones, clays, evaporites and brines in fault-bounded sub-basins, or “traps”. Tertiary sediments and rhyolitic tuff, similar to that at Rhyolite Ridge (Ioneer Ltd.) and Clayton Valley (Cypress Development Corp), are exposed on both sides of the Fish Lake Valley Playa and were encountered in exploratory drilling on the property by American Lithium. Geothermal activity, which can enhance the tendency to concentrate minerals is evidenced within and near the project, including a fully explored and approved geothermal power project 4 km to the west.
The property is 3 1/2 hours south of Tesla’s Gigafactory, close to major interstate HWY 6, and near operating electrical transmission lines.
American Lithium completed a national instrument 43-101 report for the property along with an extensive Phase 1 exploration program (2010-2015) that included surface sampling, gravity geophysics, and 3,545 feet of direct push near-surface drilling within 41 holes at 25 sites. In 2016, Phase II exploratory activities added 4 deeper holes (up to 500’ depth) including brine sampling and analysis, additional surface sediment sampling and analysis and preliminary evaluation of the efficacy of lithium extraction from selected sediment samples.