LAKE TAHOE, NV, June 9 /PRNewswire-FirstCall/ -- AmeriLithium Corp. (OTC Bulletin Board: AMEL; "AmeriLithium" or "the Company") is pleased to report that its gravity survey of Paymaster Canyon, Nevada, has been successfully completed, identifying three significant bedrock elevation lows that warrant further exploration. The survey's corresponding report specifically identified the largest of the three depressions as a possible trap for Lithium-bearing groundwater migrating into the canyon from Alkali Flats to the east.
The Lithium brine exploration survey was conducted over the Company's Paymaster Project claims to map depth to bedrock or thickness of sediments, map any geologic structures that may be significant to the occurrence of Lithium brine, and provide information for the selection and design of additional geophysical surveys.
The three significant bedrock elevation lows that were identified by the survey are oriented in a roughly north-south direction along the canyon axis. The main depression is approximately 750 meters wide by 4 kilometers long and ranges in depth from 200 to 400 meters. Two smaller, shallower bedrock lows were discovered to the south of the main depression that will also be tested during the next phase of geophysical exploration, which is scheduled to begin within the next few weeks.
"Our exploration program's first stage goal was to determine the depth of the basin and define areas of maximum potential for Lithium brine concentrations," said Matthew Worrall, AmeriLithium's CEO. "This report marks the successful achievement of that goal. And now we have in our hands the data needed to determine how and when to take our next exploratory steps toward producing domestic Lithium and meeting the growing market demand."
AMERILITHIUM'S GRAVITY SURVEY REPORT
The survey's corresponding report (which is planned to be made available for download on the Company's website in the next couple of days) was prepared by Mr. Jim Hasbrouck of Hasbrouck Geophysics, Inc., Prescott, Arizona. Hasbrouck is a licensed Professional Geophysicist in the State of California, has practiced in his profession since 1969, and has conducted well over 100 geophysical surveys throughout the world. In the report he prepared on the gravity survey, Hasbrouck stated:
"The Paymaster Canyon region is surrounded by rhyolites that are considered among the most Lithium-rich in the world and it is thought that conduits for Lithium enrichment exist from Alkali Flats (to the east) and Big Smoky Valley (to the west)." He went on to state, "Considering that Paymaster Canyon region is surrounded by Lithium-rich rhyolites and possible conduits for Lithium enrichment may exist in the vicinity of the survey area, be they in the saddle between Paymaster Canyon and Alkali Flats or elsewhere, then the locations of areas of low bedrock elevations become important for the concentration of Lithium."
After reviewing Hasbrouck's report, Robert Allender, AmeriLithium's Vice President of Exploration & Chief Geologist, commented: "As a professional Geologist with over 30 years experience, I think Hasbrouck has done a good job of explaining not just the survey methodology but also the assumptions he used in modeling the raw gravity data. The discovery of the bedrock low in Paymaster Canyon and the possible conduit for fluid flow between Alkali Flats and Paymaster are significant findings of this investigation. The suggestion of faulting in the area of Survey Line 6 is also significant as this could provide the kind of hydraulic connection important to Lithium-enriched groundwater flow into Paymaster."
AMERILITHIUM'S NEXT EXPLORATION STAGE
The Company's next phase of exploration is scheduled to begin within the next few weeks, and will include more detailed and focused geophysical surveying of the depression dimensions and groundwater characteristics by employing Controlled Source Audiomagnegtotellurics / Magnetotellurics (CSAM/MT). CSAM/MT is a geophysical technique commonly utilized in mineral exploration to provide deep geologic information, and will be used to examine selected areas of the Paymaster Canyon property in more detail. Further details and dates on the next stage of exploration will be released in the near future.
AmeriLithium's domestic Paymaster Project represents a 5,880-acre claim block adjacent to the Clayton Valley playa, where lithium-rich brines and evaporates have been accumulating for more than 30,000 years, resulting in the highest lithium content found in any brines tested by the US Geological Survey (USGS) in southwestern US playas and basins(1).
Clayton Valley is home to the only US-based lithium producing plant, operated by neighboring Chemetall Foote Corporation, a subsidiary of Rockwood Holdings, Inc. The plant has been in production since 1967, producing an estimated 50 million kg (55,000+ tons) of lithium to date from the region's rich brines(2).
FOR MORE INFORMATION
More information on AmeriLithium's exploration program on its Paymaster Project in Nevada, 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 Lake Tahoe, 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,
Matthew Worrall, Chief Executive Officer
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.
(1) NI 43-101 Technical Report by Coast Mountain Geological Ltd for Rodinia Minerals Inc, Mar. 12, 2009
(2) Rodinia Minerals Inc website, Feb. 25, 2009
SOURCE AmeriLithium Corp.