American Lithium Corp. (“American Lithium” or the “Company”)
(TSX-V:LI | OTCQB:LIACF | Frankfurt:5LA1) is pleased to announce
results of confirmatory lithium leaching and lithium carbonate
precipitation test work from Tonopah Lithium Claims (“TLC”)
mineralization. The test work was completed at McClelland
Laboratories in Reno, Nevada with lithium carbonate products
analyzed at SGS Lakefield in Lakefield, Ontario. Similar expanded
studies also continue at ANSTO in Australia. This test work
supports the maiden Preliminary Economic Assessment (“PEA”) for the
TLC project, which is in final phase of completion and expected to
be released shortly.
Highlights:
(see Table 1 – TLC Lithium Carbonate Chemical Analysis and
Calculated Purity and Figure 1 – Photograph of TLC Lithium
Carbonate product, below)
- Sulfuric acid
leaching TLC claystone mineralization achieved 97.7% lithium
extraction with short 2-hour leach time;
- Overall lithium
recovery of at least 88.1% from leach through primary lithium
carbonate precipitation including lithium losses of only 4.7%
during leachate neutralization, 4.9% during impurity removal and
crystallization/washing steps;
- Calculated
Lithium Carbonate (“LC”) purity of 99.4% based on ICP-MS/ICP-OES
chemical analyses of TLC primary lithium carbonate product at SGS
Lakefield analytical laboratories prior to any additional refining
steps;
- LC product
requires an additional process step in the flow-sheet to remove
remaining impurities (Potassium – K; Calcium - Ca) and produce
battery-grade LC or Lithium Hydroxide;
- PEA will reflect
work done to date, but process optimization work will continue
Simon Clarke, CEO of American Lithium
states, “We are very pleased with the latest TLC lithium
carbonate precipitation results and on-going optimization leach
test work which has achieved very high lithium extraction, high
overall lithium recoveries and extremely good lithium purity. This
work forms key inputs into the maiden PEA for the TLC project,
scheduled for release this month, and enables the completion of
flow sheets to produce battery grade lithium carbonate and / or
hydroxide. This marks yet another successful milestone for the
project and team and capped off a year that saw significant
positive achievements and results.”
Table 1 – TLC Lithium Carbonate Chemical Analysis
and Calculated Purity1
Analysis |
g/t |
%w/w |
|
|
|
Ag |
<1 |
<0.0001 |
|
|
TLC LiCO3 Product
Acid-Leach |
Al |
70 |
0.007 |
|
|
Calculated Purity1 |
As |
<30 |
<0.003 |
|
|
% |
Ba |
5.95 |
0.0006 |
|
LCE |
99.4 |
Be |
<0.10 |
<0.000010 |
|
|
|
Bi |
<10 |
<0.001 |
|
|
|
Ca |
340 |
0.03 |
|
|
|
Cd |
<0.9 |
<0.0001 |
|
|
|
Co |
<3 |
<0.0003 |
|
|
|
Cr |
<1 |
<0.0001 |
|
|
|
Cu |
<88 |
<0.0088 |
|
|
|
Fe |
195 |
0.0195 |
|
|
|
K |
444 |
0.04 |
|
|
|
Mg |
74 |
0.007 |
|
|
|
Mn |
3.5 |
0.0004 |
|
|
|
Mo |
<6 |
<0.0006 |
|
|
|
Na |
523 |
0.05 |
|
|
|
Ni |
<10 |
<0.0010 |
|
|
|
P |
<50 |
<0.005 |
|
|
|
Pb |
<20 |
<0.002 |
|
|
|
Sb |
<10 |
<0.001 |
|
|
|
Se |
<30 |
<0.003 |
|
|
|
Sn |
<20 |
<0.002 |
|
|
|
Sr |
10.1 |
0.001 |
|
|
|
Ti |
<5.1 |
<0.0005 |
|
|
|
Tl |
<30 |
<0.003 |
|
|
|
U |
<10 |
<0.001 |
|
|
|
V |
<2 |
<0.0002 |
|
|
|
Y |
<0.2 |
<0.00002 |
|
|
|
Zn |
<7 |
<0.0007 |
|
|
|
Si |
268 |
0.03 |
|
|
|
S |
1200 |
0.12 |
|
|
|
SO4 |
3595 |
0.36 |
|
|
|
Cl |
10 |
0.001 |
|
|
|
F |
470 |
0.047 |
|
|
|
1 Lithium Carbonate purity calculated from ICP-MS and ICP-OES
analysis of impurities based on wt%.
Figure 1 accompanying this announcement is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/24ee2b70-9ddb-45fb-b3c9-246602b73ad6
Sulfuric Acid Leaching and Lithium
Carbonate Precipitation Test Work - Details
Sulfuric acid leaching of TLC mineralization
with lithium carbonate recovery was conducted at McClelland
Laboratories in Reno, Nevada under the supervision of Jared Olson,
VP Operations of McClelland Laboratories.
Test conditions were as follows: (See Table 2 –
Circuit Simulation Testing Lithium Recoveries, below)
- 2 hour agitated
atmospheric leaching using sulfuric acid at 90°C followed by
filtration and residue rinsing achieved 97.7% lithium
extraction.
- Leach solution
neutralized with limestone and lime to remove iron and aluminum,
followed by precipitate rinsing to recover entrained solution;
completed with 95.2% recovery of lithium to filtrate and rinse
solutions.
- Sulfate
crystallization by evaporation and cooling followed by treatment
with lime to remove remaining magnesium, with 94.7% lithium
recovery.
- Calcium removal
and lithium carbonate production by reaction with sodium carbonate.
All products (precipitates and solutions) from these steps would be
recycled in a commercial process, so no losses are considered from
these steps.
- Global lithium
recovery of 88.1%
- Lithium
Carbonate product was sent to SGS Lakefield for ICP-MS/ICP-OES
multi-element analysis. A calculated purity of 99.4% LCE was
achieved without secondary refining steps.
- All processing
steps were simulated by batch testing in open-cycle. Recycling of
products was not simulated. These results should be verified by
continuous and/or pilot testing with appropriate product
recycling.
- *Process
simulated by batch testing in an open cycle (i.e. without recycling
any products). Lithium contained in products that would be recycled
during commercial processing was considered recovered.
Process recovery and cumulative recovery through
each step is presented in Table 2.
Table 2 – Circuit Simulation Testing Lithium
Recoveries
Process |
Li Recovery |
% of Feed to Process |
Cumulative % |
Leaching |
97.7 |
97.7 |
Neutralization |
95.2 |
93.0 |
Mg Removal |
94.7 |
88.1 |
Ca Removal and LC Precipitation* |
100.0 |
88.1 |
* Lithium
contained in products that would be recycled during commercial
processing was considered recovered. |
West Claim Block
The Company also announces that it has reached
an agreement with certain arms-length vendors (the
“Vendors”) to acquire a holding company which
controls a series of eight lode mining claims (the
“Claims”) located in Nye County, Nevada. The
Claims are contiguous to the TLC project and will further improve
access to the project from the west and control of the region
immediately surrounding the project. In consideration for the
acquisition, the Company has agreed to issue a total of 200,000
common shares to the Vendors.
All common shares issued to the Vendors will be
subject to restrictions on resale for a period of
four-months-and-one-day following issuance in accordance with
applicable securities laws. No finders’ fees or commissions are
owing in connection with the acquisition. Completion of the
acquisition remains subject to the approval of the TSX Venture
Exchange.
Qualified PersonsJared Olson,
P.E., VP of Operations for McClelland Laboratories, 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 related to metallurgical
testing conducted at McClelland Laboratories contained in this news
release.
Mr. Ted O’Connor, P.Geo., Executive Vice
President 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
LithiumAmerican Lithium, a member of the TSX Venture 50,
is actively engaged in the development of large-scale lithium
projects within mining-friendly 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. Both 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
Falchani.
The TSX Venture 50 is a ranking of the top
performers in each of 5 industry sectors in the TSX Venture
Exchange over the last year.
For more information, please contact the Company
at info@americanlithiumcorp.com or visit our website
at www.americanlithiumcorp.com for project update videos
and related background information.
Follow us
on Facebook, Twitter and LinkedIn.
On behalf of the Board of Directors of
American Lithium Corp.
“Simon Clarke”
CEO & Director
Tel: 604 428 6128
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this press release.
Cautionary Statement Regarding Forward
Looking Information
This news release contains certain
forward-looking information and forward-looking statements
(collectively “forward-looking statements”) within the meaning of
applicable securities legislation. All statements, other than
statements of historical fact, are forward-looking statements.
Forward-looking statements in this news release include, but are
not limited to, statements regarding the ability to appeal the
judicial ruling, and any other statements regarding the business
plans, expectations and objectives of American Lithium.
Forward-looking statements are frequently identified by such words
as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”,
“intend”, “indicate”, “scheduled”, “target”, “goal”, “potential”,
“subject”, “efforts”, “option” and similar words, or the negative
connotations thereof, referring to future events and results.
Forward-looking statements in this press release include, without
limitation, statements relating to the timing of the maiden PEA for
the TLC project; the potential to produce battery grade lithium
carbonate and / or hydroxide, the potential benefits of the
acquisition of the Claims, the Company’s ability to fund its
activities and work programs with its current capital and the
Company’s business and strategic plans.
Forward-looking statements are based on the
current opinions and expectations of management are not, and cannot
be, a guarantee of future results or events. Although American
Lithium believes that the current opinions and expectations
reflected in such forward-looking statements are reasonable based
on information available at the time, undue reliance should not be
placed on forward-looking statements since American Lithium can
provide no assurance that such opinions and expectations will prove
to be correct. All forward-looking statements are inherently
uncertain and subject to a variety of assumptions, risks and
uncertainties, including risks, uncertainties and assumptions
related to: American Lithium’s ability to achieve its stated goals;
risks and uncertainties relating to the COVID-19 pandemic and the
extent and manner to which measures taken by governments and their
agencies, American Lithium or others to attempt to reduce the
spread of COVID-19 could affect American Lithium, which could have
a material adverse impact on many aspects of American Lithium’s
businesses including but not limited to: the ability to access
mineral properties for indeterminate amounts of time, the health of
the employees or consultants resulting in delays or diminished
capacity, social or political instability in Peru which in turn
could impact American Lithium’s ability to maintain the continuity
of its business operating requirements, may result in the reduced
availability or failures of various local administration and
critical infrastructure, reduced demand for the American Lithium’s
potential products, availability of materials, global travel
restrictions, and the availability of insurance and the associated
costs; the judicial appeal process in Peru, and any and all
future remedies pursued by American Lithium and its subsidiary
Macusani to resolve the title for 32 of its concessions; the
ongoing ability to work cooperatively with stakeholders, including
but not limited to local communities and all levels of government;
the potential for delays in exploration or development activities
due to the COVID-19 pandemic; the interpretation of drill results,
the geology, grade and continuity of mineral deposits; the
possibility that any future exploration, development or mining
results will not be consistent with our expectations; risks that
permits will not be obtained as planned or delays in obtaining
permits; mining and development risks, including risks related to
accidents, equipment breakdowns, labour disputes (including work
stoppages, strikes and loss of personnel) or other unanticipated
difficulties with or interruptions in exploration and development;
risks related to commodity price and foreign exchange rate
fluctuations; risks related to foreign operations; the cyclical
nature of the industry in which American Lithium operates; risks
related to failure to obtain adequate financing on a timely basis
and on acceptable terms or delays in obtaining governmental
approvals; risks related to environmental regulation and liability;
political and regulatory risks associated with mining and
exploration; risks related to the uncertain global economic
environment and the effects upon the global market generally, and
due to the COVID-19 pandemic measures taken to reduce the spread of
COVID-19, any of which could continue to negatively affect global
financial markets, including the trading price of American
Lithium’s shares and could negatively affect American Lithium’s
ability to raise capital and may also result in additional and
unknown risks or liabilities to American Lithium. Other risks
and uncertainties related to prospects, properties and business
strategy of American Lithium are identified in the “Risk Factors”
section of American Lithium’s Management’s Discussion and Analysis
filed on June 28, 2022, and in recent securities filings available
at www.sedar.com. Actual events or results may differ materially
from those projected in the forward-looking statements. American
Lithium undertakes no obligation to update forward-looking
statements except as required by applicable securities laws.
Investors should not place undue reliance on forward-looking
statements.
Cautionary Note Regarding Macusani Concessions
Thirty-two of the 151 concessions held by American Lithium’s
subsidiary Macusani, are currently subject to Administrative and
Judicial processes (together, the “Processes”) in Peru to overturn
resolutions issued by INGEMMET and the Mining Council of MINEM in
February 2019 and July 2019, respectively, which declared
Macusani’s title to 32 of the concessions invalid due to late
receipt of the annual validity payments. In November 2019, Macusani
applied for injunctive relief on 32 concessions in a Court in Lima,
Peru and was successful in obtaining such an injunction on 17 of
the concessions including three of the four concessions included in
the Macusani Uranium Project PEA. The grant of the Precautionary
Measure (Medida Cautelar) has restored the title, rights and
validity of those 17 concessions to Macusani until a final decision
is obtained at the last stage of the judicial process. A
Precautionary Measure application was made at the same time for the
remaining 15 concessions and was ultimately granted by a Court in
Lima, Peru on March 2, 2021 which has also restored the title,
rights and validity of those 15 remaining concessions to Macusani,
with the result being that all 32 concessions are now protected by
Precautionary Measure (Medida Cautelar) until a final decision on
this matter is obtained at the last stage of the judicial process.
The favourable judge’s ruling confirming title to all 32
concessions from November 3, 2021 represents the final stage of the
current judicial process. However, this ruling has recently been
appealed by MINEM and INGEMMET. American Lithium has no assurance
that the outcome of these appeals will be in the Company’s
favour.
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