American Lithium talks 2018 FLV, TLC project work

Dec 20, 2018

2018-12-19 09:43 ET – News Release

Mr. Michael Kobler reports

AMERICAN LITHIUM SUMMARIZES 2018 ACHIEVEMENTS AND EARLY 2019 OUTLOOK

American Lithium Corp. has concluded a successful year in the in the company’s continued exploration and development of its sediment-hosted lithium projects at the FLV project in Fish Lake Valley and the nearby TLC project near Tonopah, Nev. Due to rising interest in Nevada lithium and particularly sedimentary-hosted lithium clay and claystone deposits as demonstrated by Lithium America’s Thacker Pass and Ioneer Ltd.’s (formerly Global Geoscience’s) Rhyolite Ridge projects, American Lithium anticipates increased attention and development in 2019.

At its Fish Lake Valley project, the company completed 19 kilometres of seismic survey, two stratigraphic drill holes and gravity survey infill work. This effort has defined an integrated geophysical basinal model that indicates the depth and thickness of claystone sedimentary parcels with the potential to host significant lithium mineralization at shallow depths.

As a result, the company elected to expand the FLV project holdings by optioning and staking additional claims to the north and northeast on highly prospective ground. Initial research into the new claim area resulted in the identification of outcropping lithium claystones with historical assays of up to 930 parts per million lithium and 500 parts per million bismuth. These values are comparable with the results seen at Ioneer’s Rhyolite Ridge project in what appears to be a contiguous claystone unit located to the south of the American Lithium’s claims. Recent testing with a laser-induced breakdown spectroscope (LIBS) in-field analytical instrument confirmed grades averaging over 1,000 parts per million lithium on samples in the same zone (see news release dated Dec. 12, 2018).

American Lithium has also leveraged its basin modeling and understanding of lithium claystone targets to secure the 1,550-acre TLC project just a 30-minute drive to the east.

Initial work on the TLC project has confirmed the grade and extent of the lithium mineralization and already resulted in the staking of additional claims. The TLC project is located close to the town of Tonopah, with logistics support, power and several options for water supply. The terrain is flat lying with a thin layer of sediments on top of the claystones, allowing for low stripping ratios to access the mineralized claystones for exploration and potentially future production.

Looking ahead to 2019, American Lithium has secured a drill permit for the FLV project and has applied for a similar permit at TLC. The company has secured and tested its SciAps Inc. Z300 laser-induced breakdown spectroscope (LIBS), which allows operators to prospect for lithium with real-time assays in the field and quickly separate moderately mineralized claystones from potentially economic lithium claystones. The company is also evaluating leachability of selected lithium-enriched claystones and expects to report initial results early in 2019. Company-employed as well as independent consultants have been tasked with evaluating potential processing requirements.

Mike Kobler, chief executive officer of American Lithium, stated: “Exploration results in 2018 provided us with an exceptional basin model at Fish Lake and great assays to vector in on as we look to developing claystone lithium resources and to further demonstrate scale and leachability of the claystones. Our assessment and quick acquisition of the TLC project, which is now being expanded, has brought forward a second lithium claystone basin that can be advanced rapidly. Two thousand nineteen will be a watershed year for American Lithium in Nevada.”

The technical information within this news release has been reviewed and approved by Michael Collins, PGeo, a consultant to the company and a qualified person under National Instrument 43-101.

About American Lithium Corp.

American Lithium is actively engaged in the acquisition, exploration and development of lithium deposits within mining-friendly jurisdictions throughout the Americas. The company is currently exploring and developing two projects, the FLV and TLC projects, in the highly prospective Esmeralda lithium district in Nevada.

We seek Safe Harbor.

https://www.americanlithiumcorp.com/news/