VANCOUVER, British Columbia, April 15, 2020 (GLOBE NEWSWIRE) — American Lithium Corp. (TSXV: LI) (OTCQB: LIACF) (Frankfurt: 5LA1) (“American Lithium” or the “Company”) a leading lithium exploration and development operator is pleased to report the engagement of Stantec Consulting Ltd. to prepare an estimate of the lithium resources on the Company’s wholly owned TLC Lithium Project outside Tonopah, Nevada, US (“TLC”). The results of this estimate will be presented in a Technical Report prepared in accordance with the requirements of National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Stantec has extensive experience in surface mineable stratiform deposits in North American and internationally. In addition, Stantec has been involved in evaluation and design of several lithium projects in North and South America with services spanning from environmental studies, resource delineation, to advanced engineering studies.
Since mid-2018, American Lithium has advanced TLC, through reverse circulation, rotary and core drilling to establish high grade lithium over an area of several square miles. In addition to the drilling and subsequent assay analysis, metallurgical and process testing has been completed. The project is now at a point where a maiden in-pit lithium resource can be determined.
Company CEO Mike Kobler stated, “It was of utmost importance to American Lithium to find a firm that would understand the potential and importance of these newly emerging Lithium Claystone Deposits. We look forward to working with the Stantec team on this and future phases of the TLC project development.”
Allan Turner, MSc., P.Geol. and A.C. (Chris) Hunter, P.Geol., with Stantec Consulting Ltd., are the Qualified Persons (as defined under National Instrument 43-101) responsible for the preparation of the technical report.
Please watch our corporate video at https://www.americanlithiumcorp.com/our-company/ and review our informative short project update videos and related background information at https://www.americanlithiumcorp.com/projects/tlc-nevada/.
About the TLC Discovery
The TLC sedimentary lithium discovery is an exploration and development project located 12 kilometres northwest of Tonopah, Nev., and easily accessible by paved highway. The fieldwork to date indicates a near-surface, relatively flat-lying, free digging lithium sedimentary region that offers the potential of hosting a wide area of high-grade lithium mineralization. With drilling continuing, the company expects to deliver a maiden resource and early stage economic study in 2020. Just south of the Crescent Dunes solar energy plant, the project is favourably located for future production given the immediate access to some of the cheapest electricity in Nevada.
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 the TLC project located in the highly prospective Esmeralda lithium district in Nevada. TLC is close to infrastructure, 3.5 hours south of the Tesla Gigafactory, and in the same basinal environment as Albemarle’s Silver Peak lithium mine, and several advancing deposits and resources, including Ioneer Ltd.’s (formerly Global Geoscience) Rhyolite Ridge and Cypress Development Corp.’s Clayton Valley project.
The technical information within this news release has been reviewed and approved by Bruce Kienlen, P.Geo., a consultant to the Company and a qualified person under National Instrument 43-101.
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.
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 release 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.Source: American Lithium Corp.
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