- Ameriwest Lithium (AWLI) has acquired 178 additional claims, more than doubling the size of its Little Smoky Valley Property in Nevada
- The acquisition will increase the company’s position at the Little Smoky Valley Property to 282 unpatented lode mineral claims encompassing about 5,600 acres
- Ameriwest will issue 2.3M shares and pay US$150,000 to Port Mercantile, in exchange for 100 per cent ownership of the claims
- Ameriwest initially plans to conduct surface soil and rock chip sampling on the property, followed by further exploration activities such as geophysics and drilling
- Ameriwest Lithium is a Canada-based exploration company focused on identifying lithium mineral resource projects
- Ameriwest Lithium Inc. (AWLI) opened trading at C$0.77
Ameriwest Lithium (AWLI) has acquired additional claims, more than doubling the size of its Little Smoky Valley Property in Nevada.
Ameriwest acquired the 178 unpatented lode mineral claims from Port Mercantile Holdings Ltd. The claims, located about 30 miles south of Eureka Nevada, will increase the company’s position at the Little Smoky Valley Property to 282 unpatented lode mineral claims encompassing approximately 5,600 acres.
As part of the purchase agreement, Ameriwest will issue 2.3M shares and pay US$150,000 to Port Mercantile, in exchange for 100 per cent ownership of the claims. The transaction is subject to regulatory approval.
A recent NI 43-101 Technical Report summarizes soil sampling results from 133 soil samples on the ELi Property, consisting of 26 mineral claims, with results ranging from 44.5 to 801.7 ppm lithium. Ameriwest’s geologists believe the surrounding area, where Ameriwest staked or acquired its 282 claims, has potential for lithium mineralization, subject to exploration success.
Ameriwest initially plans to conduct surface soil and rock chip sampling on the property to confirm the presence of lithium. If successful, the company will conduct further exploration activities such as geophysics and drilling.
David Watkinson, President and CEO of Ameriwest, commented on the news.
“The expansion of Ameriwest’s LSV Property is part of the company’s ongoing strategy to stake or acquire a group of high-quality lithium clay and brine exploration properties in the mining-friendly jurisdictions of Nevada and Arizona. Ameriwest has acquired five lithium exploration properties since early 2021, arguably making the company one of the leading lithium exploration companies in North America”.
Ameriwest Lithium is a Canada-based exploration company focused on identifying lithium mineral resource projects for exploration and development. The company is currently exploring its 13,580-acre Railroad Valley property, the 22,210-acre Edwards Creek Valley, and the 5,600-acre Deer Musk East property in Nevada. The company is also exploring the 2,860-acre Thompson Valley property in Arizona.
Ameriwest Lithium Inc. (AWLI) opened trading at C$0.77.
