HENDERSON, NV -- (Marketwire) -- 03/13/13 -- Amerilithium Corp. (OTCQB: AMEL) ("Amerilithium" or the "Company") announces that it has received a new technical report (the "Report") on the Company's Clayton Deep Lithium Brine Project (the "Clayton Deep Project") in Nevada's Clayton Valley. According to the Report, the Clayton Deep Project has the potential to contain economic lithium resources. As such, the Company is developing a 10-hole drilling exploration plan for the Clayton Deep Project that is designed to identify the presence, quantity, and quality of any lithium-bearing groundwater present in the property's subsurface.
The Report is available for download on the Amerilithium website at http://www.amerilithium.com.
The Report is part of Amerilithium's current exploration of its portfolio of properties with the intent of identifying and developing lithium resources. Three more reports will follow, one on each of the Company's remaining three Nevada lithium properties. Each report will provide an update on the respective project's stage of exploration and potential drilling plans.
Additionally, Amerilithium's CEO, Matthew Worrall, and VP of Exploration and Chief Geologist, Robert Allender, arrived in Australia on March 2, 2013, to help facilitate the commencement of the Company's drilling program and initial sampling on its Australian properties.
Matthew Worrall, commented: "The Report summarizes and confirms the previously released findings of our preliminary geophysical exploration program on the Clayton Deep Project and suggests the formations and structures below are similar to those currently being exploited for lithium production in nearby Clayton Valley. This phase of exploration was designed to provide the clarification we need on the best course to move forward. The Report has confirmed that the status of the Clayton Deep Project has been received, disseminated and compiled in compliance with 43-101 and Guide 7 requirements and we believe its findings warrant further investigation."
REPORT & EXPLORATION PLAN DETAILS
The Report was authored by Robert M. Allender, Jr., CPG, RG, SME (February 27, 2013), who has personally inspected the property on numerous occasions since its acquisition in April 2010, and has been responsible for the planning and implementation of exploration activities for the Clayton Deep Project and other Amerilithium-owned properties in the Clayton Valley area.
Although the report does not state any reserves for the property, it was prepared as a Canadian National Instrument 43-101 Technical Report, in accordance with Form 43-101F1, and qualifies to be filed with the US Securities Exchange Commission pursuant to Guide 7, Description of Property by Issuers Engaged or to be Engaged in Significant Mining Operations.
The Clayton Deep property is comprised of 83 unpatented 80-acre (32.4-hectare) placer claims totaling 6,640 acres (2,687 hectares). The claims cover the entire Southwest Gravity Low in Clayton Valley. The geologic formations that compose the surrounding mountain ranges contain unusually high concentrations of lithium. The project's claims lie less than 10 miles southwest of the only US-based lithium producing plant that has been in production since 1967, producing an estimated 40 million kg (44,000+ tons) of lithium through 2008 from the region's rich brines.
Amerilithium's past geophysical investigations have identified geologic formations and structures that are consistent with the lithium-bearing brine deposit models that are elsewhere present in Clayton Valley. Furthermore, the geophysical signature of these formations and structures suggests they are similar in nature to those currently being exploited for lithium brines at other facilities. Based on the results from the preliminary exploration geophysics, the project warrants further investigation.
The next logical steps in the process of exploration for the Clayton Deep Project include drilling and sampling of the sediments and groundwater in the basin. Physical examination of the drill cuttings and laboratory analysis of water and sediments is the most cost effective way to determine the presence or absence of economic lithium deposits beneath the property. An initial drilling program of 10 holes has been designed and permitted (as of July 11, 2012) through the US Bureau of Land Management (USBLM) and the State of Nevada. The first three holes are designed to test specific structural and stratigraphic targets identified by the geophysical surveys. Based on the success of the first three holes in finding brine aquifers and anomalous lithium contents, the additional seven holes would be placed to expand on the information about hydrogeology and lithium mineralization that might be discovered.
The exploration program will consist of drilling a maximum of 10 reverse circulation drill holes to maximum depth of 2,000 feet (610 meters). Average drill hole depth is anticipated to be approximately 1,400 feet (427 meters). All drill holes will be vertical in orientation.
More information on the Clayton Deep Lithium Project, and additional information regarding the Company, can be found at Amerilithium's corporate website www.amerilithium.com along with the facility to sign up for regular news updates.
Lithium is a lightweight metal used in a wide range of consumer products all over the world: the medical industry uses lithium as an anti-depressant; industrial uses include glass, ceramic and porcelain enamel manufacture; and the aviation industry uses lithium in alloys. Of particular interest is the use of lithium for battery production, which has expanded significantly in recent years due to rechargeable lithium batteries being used increasingly in electrical tools and in the rapidly expanding portable electronics market. Furthermore, the next generation of hybrid and electric vehicles are being designed to use high-capacity lithium-ion batteries as environmentally-friendly fuel alternatives, while the Obama administration has introduced $5 billion in funding and incentives for the development of a secure, domestic battery industry with special focus on lithium-ion batteries.
Amerilithium is a publicly traded (OTCQB: AMEL) mining company committed to progressively developing into one of the leading U.S. companies in the global lithium industry. The Company is headquartered in Henderson, NV. Amerilithium has amassed a lithium portfolio consisting of approximately 719,779 acres, including four Nevada-based projects nearby the only lithium producing plant in the U.S., a large project in Alberta, Canada, and a project in Western Australia.
Forward Looking Statements
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
1. Harrop, John, 2009. Technical Report on the Clayton Valley Lithium Property, Esmeralda County, Nevada, prepared for Rodinia Minerals, March 12, 2009, 31p.
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