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.
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