American Lithium - CEO, Simon Clarke.
CEO, Simon Clarke.
Source: Grit Daily.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • American Lithium (LI) has yielded up to 2,900 ppm Li from initial diamond drilling at the Tonopah Lithium Claims (TLC) Project
  • The results expanded the drilled resource footprint with higher grades and thicker mineralization than the existing project resource
  • The company will issue an update on ongoing reverse circulation drilling in the coming weeks
  • American Lithium acquires, explores and develops lithium projects throughout the Americas
  • American Lithium (LI) is down by 3.01 per cent trading at $1.61 per share

American Lithium (LI) has yielded up to 2,900 ppm Li from initial diamond drilling at the TLC Project.

Infill and extension drilling seeks to expand the large-scale near-surface resource at the Tonopah, Nevada-based project. 

Highlights:

  • TLC-2206C: 50.3 m of 1,550 ppm Li from 145’ to 310’ downhole with a maximum of 2,900 ppm Li from a 4.4’ sample from 234.5’. The entire hole from 30’ to 351’ is mineralized averaging 1,012 ppm Li
  • TLC-2201C: 50.3 m of 1,247 ppm Li from 40’ to 205’ downhole with a maximum 2,100 ppm Li from a 5’ sample from 205’. The entire hole from 9’ to 292’ is mineralized averaging 883 ppm Li
  • TLC-2205C: 51.8 m of 1,221 ppm Li from 145’ to 315’ downhole with a maximum of 2,500 ppm Li from a 5’ sample from 205’. The interval between 110’ to 342’ is mineralized averaging 1,009 ppm Li
  • TLC-2202C: 50.3 m of 1,118 ppm Li from 60’ to 225’ downhole with a maximum of 1,910 ppm Li from a 5’ sample from 130’. The interval between 23’ to 260’ is mineralized averaging 999 ppm Li

The company will release an update on its ongoing reverse circulation drill program in the coming weeks.

It has also completed its US$3,125,000 acquisition of the Reason Ranch in the Big Smoky Valley near Tonopah, Nevada. The acquisition secures significant additional water rights for the TLC Project. 

“We are very pleased that these results continue to expand the drilled resource footprint with higher grades and consistently thicker mineralization than the existing TLC resource,” stated Simon Clarke, CEO of American Lithium. “This will enable us to better position starter pits under our mining plan to initially focus on higher grade sections of the resource. We are also looking forward to updating the mineral resource estimate for TLC in conjunction with finalizing our maiden PEA.”

American Lithium acquires, explores and develops lithium projects throughout the Americas.

American Lithium (LI) is down by 3.01 per cent trading at $1.61 per share as of 11:44 am EST.

More From The Market Herald

" ValOre Metals (TSXV:VO) announces $2.5M private placement

ValOr Metals (VO) has announced a non-brokered private placement for gross proceeds of up to $2,500,000.

" Sigma Lithium (TSXV:SGML) preparing Phase 1 pit for mining

Sigma Lithium’s (SGML) construction remains on schedule for its Phase 1 production plant and mine at its Grota do Cirilo Project.
Contact Gold - Overview of Green Springs Project

" Contact Gold (TSXV:C) reports Q2 2022 financial & operating results

Contact Gold Corp. (C) released its financial and operating results for Q2 2022.

" Goldcliff (TSXV:GCN) samples 170 g/t silver at Kettle Valley

Goldcliff Resource Corporation (GCN) has reported that follow-up surface sampling at the Kettle Valley Gold-Silver Project in B.C. has yielded strong silver values.