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American Lithium advances 4%, reports samples up to 537 mg/l Li at Fish Lake

Wednesday, October 12, 2016 11:57
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American Lithium Corp. (CVE:LI) shares were nearly 4% higher on Wednesday after the company released results from continuing near-surface auger sampling on the North playa, Fish Lake Valley, Esmeralda county, Nevada.

A total of 25 samples were reported, with the highest-grade sample being 537 milligrams per litre lithium. The average of the samples was 292.4 mg/l Li and the lowest-grade sample was 2.4 mg/l Li.

These sample sites were located around the circumference of the North playa demonstrating pervasive lithium enrichment in near-surface brines through the North playa.

Further sampling is currently focused on near-surface brine on a north-south line through the middle of the playa.

Two sonic drill holes have been completed on the South playa target and samples sent in for testing. One sonic drill hole has been completed on the North playa with further drilling planned in the coming weeks. Once the phase II drilling has been completed on the North playa, the drill rig will be moved to test the Clayton Valley 1 project just north of the Albemarle lithium plant in Clayton Valley, Nevada.

“These sampling results demonstrate that the North playa is a lithium-enriched basin and we are excited to be focused on identifying the most potentially economic aspects of the mineralising system,” said Michael Kobler, chief operating officer of American Lithium.

“Few other lithium exploration companies have been able to develop their projects so quickly in the last year as we have, and American Lithium will continue to have a busy fall as our exploration programs progress.”

In previous programs, near-surface brines were sampled using a conventional hand-held auger to sample subsurface brines at a depth of 78 inches (two metres). The brine was sampled at the bottom of the auger hole and then separated from residual clays before being sent for analysis.

For this expanded near-surface brine sampling program, the company has developed a new methodology for sampling. Instead of an auger system, a four-inch-diameter pipe is driven into the ground to a depth of approximately 55 inches (1.4 m) and then pulled out of the hole. A 2.5-inch (6.3 centimetres) perforated PVC pipe is placed in the hole to keep it open while clay solids settle to the bottom of the hole.

The brine is then sampled just above the settled material at the bottom of the hole. Samples are collected and shipped to Florin Analytical Services in Reno, Nev., where the lithium content is measured by ICP analysis with an atomic absorption finish.

American Lithium shares were up 3.6% at C$0.43 on Wednesday.

Story by ProactiveInvestors


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