chico237
1 year ago
JULY 12th 2023 - American Lithium Intersects Highest Grade Lithium and Cesium Samples Encountered to Date at Falchani - Up to 5,645 ppm Lithium and up to 12610 ppm Cesium
https://mailchi.mp/americanlithiumcorp/surgeinvestmentclose-8224263?e=1f0e41ab3d
American Lithium Intersects Highest Grade Lithium and Cesium Samples Encountered to Date at Falchani - Up to 5,645 ppm Lithium and up to 12610 ppm Cesium
VANCOUVER, BRITISH COLUMBIA, July 12, 2023 – American Lithium Corp. (“American Lithium” or the “Company”) (TSX-V:LI | NASDAQ:AMLI | Frankfurt:5LA1) is pleased to provide details of assay results from three diamond drill holes recently drilled at the Falchani Lithium project in Puno, southeastern Peru (“Falchani”). These 3 holes were drilled under the ten-hole Environmental Impact Assessment (“EIA”) hydrology drilling program launched at Falchani last fall as part of the EIA hydrology study designed by EDASI SAC and SRK Peru with field work overseen by EDASI. This program has successfully demonstrated that there are no water table issues within proposed development areas across Falchani and the program has also enabled the drilling and analysis of core down to a depth of 120 metres (“m”). Once full results from this program are complete all data and assays will be incorporated into an updated resource report on Falchani to be prepared by Stantec Consulting, Inc (“Stantec”).
Core logging and assay results from these three diamond holes intersected intervals of typical Falchani volcanic tuff as well as large sections of breccias with highlights including Lithium up to 5,645 ppm and Cesium up to 1.22%, the highest grades of both metals encountered to date from 1 m drill core interval samples at Falchani. These holes were drilled in key areas both within and outside the current Falchani resource footprint and will add additional information to the planned mineral resource estimate update with a focus on expanding the overall resource and reclassifying the existing resource. Full details of the results from these three holes are set out below:
EIA Drill Program and Initial Results
Link to: Figure 1 – Falchani EIA Hydrology and Previous Drill Hole Location Map (also see below)
EIA diamond drill hole Pz04-TV (vertical) intersected lithium mineralization over the entire vertical drill hole; 0-120 m averaged 2,186 ppm Lithium (Li); 841 ppm Cesium (Cs); 1,215 ppm Rubidium (Rb); and 2.62% Potassium (K) - (see Table 1 – Drill Hole Pz04-TV results, below):
Several substantial sub-intervals of +3,000 ppm Li intersected;
Maximum Li of 5,645 ppm Li over 1 m at 54 m downhole; and
This drill hole is the westernmost drill hole reported at Falchani and extends the drilled mineralization approximately 250 m further west. Mineralization remains open at depth (>120 m).
EIA diamond drill hole Pz03-TV (vertical) intersected the strongest Cesium mineralization to date with associated moderate lithium mineralization over the upper 63 m downhole averaging 1,428 ppm Li; 4,770 ppm Cs; 1,188 ppm Rb; and 2.67 %K (see Table 2 – Drill Hole Pz03-TV results, below):
The upper interval (0-23 m) is richer in Li with the lower interval (23-63 m) much richer in Cs, including the highest 1 m Cs interval sample encountered at Falchani of 12,160 ppm Cs (1.2% Cs);
Cs mineralization is associated with more intense brecciation and hydrothermal overprint observed in this hole, drilled from within the natural valley separating the east and western parts of the Falchani resource. This hole establishes the deposit thickness/bottom within the valley.
EIA diamond drill hole Pz06-TV (vertical) intersected typical Falchani tuff over the entire 86 m drilled and analyzed to date averaging 2,739 ppm Li; 338 ppm Cs; 1,292 ppm Rb; and 2.87% K (see Table 3 – Drill Hole Pz06-TV results, below); drilling at this location continues in Li mineralization.
Ground water has yet to be encountered in any holes within the 120 m reporting drill depth, so EDASI and the Company is requesting permission from ANA, the National Water Authority, to drill deeper:
10 diamond drill holes were approved for EIA drilling, including installation of downhole piezometers to monitor water table and local groundwater parameters where water is encountered;
Every 5m EDASI collects drill hole wall-rock measurements of moisture content, water, etc. resulting in very slow drill advancement, but essential data and information for feasibility study;
Drill core chemical analysis is required under the EIA, and reporting mineralization is allowed; and
EIA Program is close to completion and additional results will be reported when available.
Simon Clarke, CEO of American Lithium states, “We are excited to have intersected thick, high grade lithium mineralization west of the current Falchani resource footprint, which should allow for resource expansion. The strong cesium and lithium mineralization encountered in the central valley bisecting Falchani is also very interesting from a strategic perspective with higher than previously recorded cesium grades. The entire EIA program will provide valuable additional data to the existing drill results from Falchani.
We are also very pleased to be back working constructively and successfully in Peru. We received the first new permits for the new Quelcaya targets several weeks ago and have also launched a new drill program on some of our best targets across the Macusani Plateau. We anticipate receiving our next drill permits for additional infill and expansion drilling at both the Falchani Deposit and the Macusani Uranium Project shortly. Expanding and reclassifying the resource is a key piece of the updated PEA we are targeting for the end of Q3.
News continues with additional charts....
Form your own opinions & conclusions above!
FALCHANI & TLC PROJECTS ARE GAINING TRACTION - (I think production 2027/2028 is in the cards... keep adding, trading as each investor sees fit!) IMHO
STELLANTIS, FORD,VW & OTHER AUTOMAKERS NEED LITHIUM AS THEY BUILD OUT BATTERY MANUFACTURING SUPPLY CHAINS! AMERICAN LITHIUMS TWO PROJECTS ARE WELL ADVANCED & MY GUESS 3- YEARS OUT @ 2027 timeframe. LOOK FORWARD TO PEA's, then F.S. & Finance & OFF-Take agreements or a BUY-OUT FROM larger Lithium producer...
Chico
chico237
2 years ago
5/8/2023 ~American Lithium Receives First of 3 Drill Permits to Commence Additional Development and Discovery Drilling at and around Falchani Peru
https://americanlithiumcorp.com/american-lithium-receives-first-of-3-drill-permits-to-commence-additional-development-and-discovery-drilling-at-and-around-falchani-peru/
American Lithium Receives First of 3 Drill Permits to Commence Additional Development and Discovery Drilling at and around Falchani Peru Drilling to Start Immediately
VANCOUVER, BRITISH COLUMBIA, May 8, 2023 – American Lithium Corp. (“American Lithium” or the
“Company”) (TSX-V:LI | Nasdaq:AMLI | Frankfurt:5LA1) is pleased to announce receipt of the first of three
permits from Peruvian authorities for drilling near Quelcaya, 5-6 kms west of the Company’s Falchani
deposit, and drilling will start immediately.
Simon Clarke, CEO of American Lithium states, “This is a very significant development for the Company
which validates recent supportive comments from the new government in Peru and enables us to target
the discovery of new lithium mineralization on some of the best previously identified targets on the
Macusani Plateau. With momentum building, the Company continues to advance its projects in Peru and
Nevada with PFS work being fast-tracked on both of our large-scale lithium projects.”
This is a major development for the Company as it represents the successful conclusion of the Company’s
permit application process to secure this drill permit which now enables the Company to drill test several
new, high priority lithium targets. It also provides validation of recent comments from the new
government in Peru that the mining sector is now working “as normal” again and supporting the
development of our lithium projects and the industrialization of lithium as a new mineral in Peru.
Given these recent developments, we also anticipate final permits being approved shortly for expansion
and infill drilling at both the Falchani lithium deposit and at the Macusani uranium project. The Company
has four diamond drills on site at Falchani where drilling related to the ongoing environmental impact
assessment (“EIA”)commenced in 2022 and is well advanced. The current intention is to complete drilling
at both Falchani and Quelcaya prior to commencing drilling at Macusani, likely following completion of
the intended spin out of this Project into its own listed vehicle, as previously announced.
Highlights:
• Quelcaya discovery and exploration permit received from MINEM; community access agreements and
other permits already in place; drilling to start immediately on priority targets;
• Final Falchani expansion and infill drill permit expected within the next few weeks;
• Up to 8,000 m of diamond drilling (40 drill holes) planned, including:
o Discovery / exploration diamond drilling at Quelcaya on 3 key target areas 5-6 km west of the
Falchani resource area; recent field work located outcrop grab samples1 of up to 3,272 ppm Li;
o Deposit extension drilling on the Falchani deposit, focused west of Tres Hermanas and to the
northwest of resource footprint on previously untested ground; and
o In-fill drilling within the Falchani resource area for resource reclassification and expansion of the
large, indicated and inferred mineral resource to measured and indicated.
• Pre-feasibility Study (“PFS”) work is well underway on Falchani with completion targeted for late 2023
/ early 2024, including an update to existing PEA by mid 2023 which will include:
o Cesium and potassium by-products which are not currently included; (THIS IS HUGE & WILL GARNER U.S. ATTENTION!!!!! DoD IMPLICATIONS HERE.....)
o Updated long term LCE pricing from original outdated $12,000/t to $20,000/t; and
o Updated mineral resource estimate from current drill program.
Notes
1 Grab samples are selective, and the selected nature of such sampling does not necessarily reflect
potential lithium contents expected from future drill testing, however, they do indicate the presence of
lithium mineralization and mineralizing systems in the surface rocks collected.
Market Awareness Program
The Company also announces that it has entered into an agreement (the “Agreement”) with New Era
Publishing Inc., of Vancouver, British Columbia, to provide marketing services including content creation
and distribution and market awareness and educational campaigns as featured on its channels including
www.katusaresearch.com
The Agreement contemplates a four-month timeframe, with New Era providing services through August
31, 2023, with a total budget of US$1,000,000. Prior to the commencement of services, New Era will
receive an advance deposit of US$250,000 to secure appropriate space for the campaign, with a further
US$250,000 to be paid to commence creative development and the balance of US$500,000 to be paid to
commence the outbound campaign.
New Era has advised that it does not have any equity interest in the securities of the Company, or any
right to acquire such an interest and is at arm’s length to the Company. New Era will provide the Company
with an opportunity to review all content describing the Company with an opportunity to review all
content describing the Company generated by New Era prior to its publication and New Era will not publish
or distribute any content without the prior approval of the Company.
The Company has elected not to proceed with the engagement of Promethean Marketing Inc. previously
announced in the news release issued by the Company on November 2, 2022.
Qualified Person
Mr. Ted O’Connor, P.Geo., a Director of American Lithium, and a Qualified Person as defined by National
Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific
and technical information contained in this news release.
About American Lithium
American Lithium is actively engaged in the development of large-scale lithium projects within miningfriendly jurisdictions throughout the Americas. The Company is currently focused on enabling the shift to
the new energy paradigm through the continued development of its strategically located TLC lithium
claystone project in the richly mineralized Esmeralda lithium district in Nevada, as well as continuing to
advance its Falchani lithium and Macusani uranium development-stage projects in southeastern Peru. All
three projects, TLC, Falchani and Macusani have been through robust preliminary economic assessments,
exhibit strong significant expansion potential and enjoy strong community support. Pre-feasibility work
has now commenced at TLC and Falchani.
See also:
5/10/2023 AMERICAN LITHIUM ~ EVERYTHING YOU NEED TO KNOW ABOUT LITHIUM
https://americanlithiumcorp.com/wp-content/uploads/2023/05/Everything-You-Need-to-Know-About-Investing-in-Lithium_FV.pdf
Form your own Opinions & Conclusions above!
IMHO THIS IS UNDERVALUED AT CURRENT RANGE.
Chico
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