- Ameriwest (AWLI) has released updates on its Nevada exploration properties
- It plans to conduct a gravity study and further magnetotelluric (MT) work at Railroad Valley in preparation for a 2022 drill program
- It plans to include two additional MT lines at Edwards Creek Valley in early 2022
- Analysis indicates that these two properties as well as Deer Musk East likely contain lithium brine deposits warranting further exploration
- Ameriwest is focused on identifying lithium mineral resource projects for exploration and development
- Ameriwest (AWLI) is up by 3.92 per cent trading at $1.59 per share
Ameriwest (AWLI) has released updates on its Nevada exploration properties.
Railroad Valley
The company acquired 26.7 line miles of seismic data from Seismic Exchange with results from the re-interpretation of historic seismic data exceeding expectations.
The interpretation showed the valley floor, sedimentary strata, faults, location and geologic explanation of potential brine on the claim block.
Ameriwest plans to conduct a gravity study and further MT work based on previous analysis in preparation for a 2022 drill program.
Edwards Creek Valley
The company has initiated gravity and MT surveys on the property. A single MT line showed a resistivity low that indicates the potential for the valley to host a brine deposit.
Fieldwork results show a large gravity low on the northeast half of the claim block and a second less-pronounced low on the southeastern section, both of which have the potential to host brine deposits.
Ameriwest plans to include two additional MT lines to the northeast of the four initially planned lines in early 2022.
Deer Musk East
The company has filed an NI 43-101 Technical Report on the property.
Geophysical studies demonstrate a strong likelihood for the occurrence of lithium brine deposits beneath the claim area.
Further studies and drilling work are required to assess lithium content.
In December 2021, Authium filed a complaint regarding the property. Ameriwest staked certain placer claims on Deer Musk over Authium’s existing lode claims. Ameriwest’s position is that it staked a placer deposit, not a lode deposit, therefore Authium’s lode claims are invalid. If necessary, Ameriwest plans to defend its claims through litigation.
Ameriwest is focused on identifying lithium mineral resource projects for exploration and development.
Ameriwest (AWLI) is up by 3.92 per cent trading at $1.59 per share as of 10:02 am EST.
