LAKE TAHOE, NV, June 23 /PRNewswire-FirstCall/ -- AmeriLithium Corp. (OTC Bulletin Board: AMEL; "AmeriLithium" or "the Company") is pleased to report that the Company's Chief Executive Officer, Matthew Worrall, together with Robert Allender, VP of Exploration & Chief Geologist, and Robert Craig, P.E., Chief Mining Advisor, recently undertook a two-day field trip to the Company's three Nevada-based Lithium properties – Paymaster, Clayton Deep and Full Monty – to establish next steps for the Company's ongoing Lithium exploration program.
The primary objective of the field trip was to determine the most effective course to take in the exploration of the Company's Nevada properties. More specifically, the group reviewed the recent findings from the Paymaster Project's gravity survey, which identified three significant bedrock elevation lows that warrant further exploration, the largest of which was singled out as a possible trap for Lithium-bearing groundwater migrating into the canyon from Alkali Flats to the east.
After studying geographical maps of the area, the group recognized that AmeriLithium's portfolio of Nevada-based properties benefits from excellent positioning and mineral potential. As such, it was concluded that the most effective and efficient approach to moving the Company forward is to concentrate its explorational efforts on the three properties in Nevada.
Among the significant factors contributing to this determination was the excellent infrastructure already in place in this mining-friendly region, and the proven Lithium resources located in Clayton Valley, 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 also 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) AmeriLithium's Paymaster Project is adjacent to the Clayton Valley playa, while the Company's Clayton Deep project lies less than 10 miles southwest of the Chemetall Lithium plant.
NEIGHBORING PRODUCTION & DISCOVERIES
While in the field, the group also viewed the nearby Chemetall Lithium producing facility, and discussed recent discoveries of other local mining exploration companies.
Included among these was Rodinia Minerals, who recently reported an exploration sampling of brines that returned Lithium values of up to 400 milligrams per liter and favorable magnesium-to-Lithium ratios on their property, which is adjacent to AmeriLithium's Clayton Deep property.
QUALITY ASSURANCE PROCEDURES & FINANCING
During the field trip, the group discussed the direction of the Company and any immediate actions that should be undertaken, including the implementation of quality assurance procedures to ensure that contractors deliver results that meet AmeriLithium's exacting standards.
With such procedures in place, the Company will be well positioned to maintain the track record it established throughout the recent Paymaster Project gravity survey. GeoXplor Corp., who oversaw the survey, commented: "An independent geologist was retained from a NY firm to perform due diligence on all of the work, and reported back that all was impeccable. Also, due diligence on all geophysical work performed was considered highly professional."
Finally, the group discussed the finer points of the next stages of exploration on the Paymaster Project, in order to gain the maximum amount of information available to facilitate the Company receiving the ongoing financial investment required.
Matthew Worrall, AmeriLithium's Chief Executive Officer, commented on the field trip: "This was another successful and productive collaboration between a tight group of seasoned professionals. We now have a clearer focus that ever, and will be following up on all our findings and decisions on July 2nd, when the remaining advisors and I will meet to discuss the current and future demand of Lithium in the market place."
FOR MORE INFORMATION
More information on AmeriLithium's projects and exploration 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 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
297 Kingsbury Grade
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
Matthew Worrall, Chief Executive Officer
SOURCE AmeriLithium Corp.