Vancouver, BC – January 24, 2019 – American Lithium Corp. (TSXV: LI) (OTCQB: LIACF) (FSE: 5LA;) (“American Lithium” or the “Company”) is pleased to report that preliminary hydrometallurgical tests have been completed on TLC project samples demonstrating that lithium will effectively leach from the project area claystones with increased extraction relative to immersion time.
CEO, Mike Kobler states “This news is very exciting. Our preliminary results from the TLC project validate what we are looking for in lithium projects; shallow deposits, high grade and low-cost extraction opportunities. In fact, test results indicated a greater percentage of leached output in higher grade samples which is really positive.”
Seven TLC samples were sent for testing at America Assay Laboratory and processed using ICP-AEP protocols. The samples were leach tested with a mixed concentrate extraction, beginning with one-hour agitation in purified water, followed by a progression of one hour, six hour and twenty-four-hour agitation in up to a 20% total sulfuric acid solution. Lithium extraction increased progressively through increased formulation strength and duration.
Additional testing will evaluate the consumption of chemicals and the relationship of solution formulation relative to Li extraction within a 24-hour period. Advanced phase column tests will commence once the initial curing process provides consistent data.
American Lithium is evaluating the extraction economics of selected lithium-enriched claystones from both its TLC and FLV Projects and expects to report initial results early in 2019. Employees as well as independent consultants have been tasked with evaluating potential processing requirements and initiating advanced studies. Testing includes, but is not limited to, determination of grain size, agitation requirements, chemical strength and consumption, water consumption, material balance and durations. American Lithium’s consultant has established the testing protocols and management will submit requests for proposals from select engineering firms in the first half of the year.
“The anticipated outcome could see a game-changing opportunity in the growth and development of the domestic lithium resource sector in Nevada,” concludes Kobler. “We are confident our work will be validated rapidly, and if successful, will provide significant impetus to the Company and value to its shareholders. American lithium looks forward to the results of our next phase of quantifiable hydrometallurgical and drilling efforts in the region.”
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. These projects, within 30 miles of each other, are 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 the advancing deposits and resources including Ioneer Inc.’s (formerly Global Geosciences) Rhyolite Ridge and Cypress Development Corp’s Clayton Valley Project.
The technical information within this news release has been reviewed and approved by Michael Collins, 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.