Ameriwest Lithium Inc., a North American lithium exploration and development company, is happy to announce the acquisition of additional claims in Nevada, more than doubling the area of its Little Smoky Valley Property.
Port Mercantile Holdings Ltd. sold Ameriwest the 178 unpatented lode mining claims. The claims, which are located about 30 miles south of Eureka, Nevada, would extend Ameriwest’s position at the Little Smoky Valley Property to 282 unpatented lode mineral claims covering approximately 5,600 acres.
Ameriwest will issue 2.3 million shares and pay Port Mercantile $150,000 as part of the acquisition agreement in exchange for 100% ownership of the claims. Regulatory permission is required for the deal.
The Little Smoky Valley Property is close to Clear Sky Lithium Corp.’s ELi Lithium Property, as reported in a news release dated June 7th, 2022. Ameriwest’s claims encompass a sequence of lower Miocene to Oligocene volcanic sedimentary rocks, comprising tuffs, mudstones, claystones, and siltstones, which management thinks have the potential to house lithium mineralization.
Robert J. Johansing, BSc Geology, MSc Economic Geology, QP MMSA, wrote a recent NI 43-101 Technical Report titled “The ELi Sediment-Hosted Lithium Deposit, Eureka and Nye Counties, Nevada: Technical Report,” which is accessible under Clear Sky’s corporate filings at www.sedar.com.
The Technical Report presents soil sampling data from 133 soil samples taken on the ELi Property, which consists of 26 mineral claims, with lithium concentrations ranging from 44.5 to 801.7 ppm.
Ameriwest’s geologists have not confirmed the Clear Sky results but feel the surrounding area, where Ameriwest acquired or staked its 282 claims, has the potential for lithium mineralization if exploration is successful.
Ameriwest intends to perform surface soil and rock chip sampling on the land to confirm the presence of lithium. If the exploration is a success, the company will pursue more exploratory operations such as geophysics and drilling.
The expansion of Ameriwest’s LSV Property is part of the Company’s ongoing strategy to stake or acquire a group of high-quality lithium clay and brine exploration properties in the mining-friendly jurisdictions of Nevada and Arizona. Ameriwest has acquired five lithium exploration properties since early 2021, arguably making the Company one of the leading lithium exploration companies in North America.
David Watkinson, President and Chief Executive Officer, Ameriwest Lithium Inc.