HENDERSON, NV, March 31, 2011 /PRNewswire/ -- AmeriLithium Corp. (OTC Bulletin Board: AMEL; "AmeriLithium" or "the Company") is pleased to provide a progress update on the Company's 8-hole drill program on the Paymaster Canyon Lithium brine project in Nevada, USA, and confirms the completion of the Second drill hole, and the initiation of the Third drill location.
As of Tuesday, March 29, 2011 the drilling of both holes one and two have been completed. The crew will continue to work 10-hour shifts to finish the remaining two holes in a timely manner, with completion of the third hole expected within the next 7 days. (Detailed drilling progress notes are provided further below.)
"Although the drilling operation has encountered adverse weather conditions we are extremely pleased with the progress that has been achieved on the project and the completion of the first two targets," said Matthew Worrall, AmeriLithium's CEO. "We are extremely positive about the initial results and are looking forward to receiving the analysis back from the Lab. Again our exploration program has successfully identified areas of significant interest."
The program's 3 initial holes will test areas of significant Lithium brine potential identified by the Company's exploration program (i.e., areas marked by gravity lows and low resistivity), followed by the remaining 5 holes depending on the initial drilling results.
DETAILED DRILLING PROGRESS NOTES: TUESDAY, MARCH 29
Robert Allender, VP of Exploration & Chief Geologist, provided the following update for the second hole.
The hole was completed to a depth of 400 feet and penetrated only coarse gravel formations from the surface to the bottom of the hole. Water was encountered at a depth of about 200 feet and was evidenced by an increase in water temperature and drilling mud dilution. Water temperature increased dramatically at depth. The final temperature measurement at 400 feet was 54C, almost 130 degrees F. The conductivity also increased with depth as measured by field instrumentation. At 400 feet relative conductivity was at the very limit of the measuring device. These findings indicate the probable presence of brine. They also are evidence that the Paymaster Fault may be a conduit for lithium-bearing fluids from Paymaster Canyon and Alkali Flat and also from sources at depth.
Skytech flushed and developed the well and estimates that the well will produce 300-400 gallons per minute. Samples were collected for Lab analysis and will confirm metal concentrations and water quality parameters.
"These are fantastic results! More than I would have anticipated," said Robert Allender, VP of Exploration & Chief Geologist. "These actual temperatures and conductivity are off the charts. Lithium is tremendously mobile in hot water so I am very optimistic about us finding lithium in this area of the AMEL claims."
FOR MORE INFORMATION
More information on the Paymaster Project drill program, 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.
ABOUT LITHIUM: Lithium is a lightweight metal used in a wide range of consumer products the world over: the medical industry uses Lithium as an anti-depressant; industrial uses include glass, ceramic and porcelain enamel manufacture; 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.
ABOUT AMERILITHIUM: AmeriLithium is a publicly traded (NASD OTC BB: AMEL), mining company committed to progressively developing into one of the leading American players in the global Lithium industry. The Company is headquartered in Henderson, NV. AmeriLithium has amassed a Lithium portfolio consisting of ~724,000 acres, including three Nevada-based projects nearby the only Lithium producing plant in the US, a large project in Alberta, Canada, and a project in Western Australia.
ON BEHALF OF THE BOARD OF DIRECTORS,
AmeriLithium Corp. Matthew Worrall, Chief Executive Officer
Contact: AmeriLithium Corp. 871 Coronado Center Dr. Ste. 200 Henderson Nevada 89052
Phone: (702) 583-7790 Fax: (702) 583-7791 Email: firstname.lastname@example.org
INVESTOR RELATIONS: Toll Free: 1-888-982-6374 Email: email@example.com
Certain statements in this press release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. AmeriLithium Corp. bases these forward-looking statements on current expectations and projections about future events, based on information currently available. The forward-looking statements contained in this press release may also include statements relating to AmeriLithium Corp.'s anticipated financial performance, business prospects, new developments, strategies and similar matters. AmeriLithium Corp. disclaims any obligation to update any of its forward-looking statements, except as may be required by law.
SOURCE AmeriLithium Corp.