Ameriwest Lithium Inc. (the “Company” or “Ameriwest”) is delighted to declare that following the breakthrough of key concentrations of up to 1,295 ppm lithium from surface soil sampling, as defined in a press release dated December 13th, 2022, it has now extended its Thompson Valley Lithium Property with the inclusion of Permits for four new Mineral Exploration (“MEP’s”). Every new MEP is recorded with the Arizona State Land Department (“ASLD”) and the four, together, aggregate 2,560 acres (1,026 ha) in size.
On May 19th, 2023, Ameriwest declared it had finished a Technical Report (the “Report”) on its Thompson Valley Property situated in west-central Arizona. The Report that was prepared under the needs of National Instrument 43-101 and standards of the Canadian Institute of Mining, Metallurgy, and Petroleum, briefed geological test work finished by Ameriwest in 2022 along with surface sampling, geologic mapping, and geophysics.
At Thompson Valley, six lithium exploration targets were found, likely to host 200-400 million tons (220-440 million tons) of clay deposits, with a probable average grade of these deposits that range between 114 and 842 ppm Li. The place of the lithium exploration target areas (the “Target Areas”) is shown in the image. Until now, no mineral reserves or resources have been delineated on the Property.
The new MEPs span a region north of the Target Area from the Thompson Valley Fault to the Eastwood Creek Fault. Although there is a basalt cap covering the surface of these four new MEPs, Ameriwest’s geologists hope that the MEPs might host a lithium clay exploration target identical in features to the Target Area, with lithium-bearing sediments buried under the basalt cap. The mineral rights controlled by Ameriwest at Thompson Valley are brought by the new MEPs to 17 MEPs and 33 Federal lode mining claims including around 9,400 acres (3,800 ha). The mineral rights controlled by Ameriwest are also represented in the image and are held in Oakley Ventures (USA) Corp.—an Ameriwest’s subsidiary.
With the encouraging results announced by Ameriwest in December 2022 and with completion of the Technical Report in May 2023, our team has identified six exploration targets at Thompson Valley. We expanded the size of the project area to the north to perfect and protect our land position.
Mr. David Watkinson, CEO, Ameriwest Lithium Inc.
Watkinson continues, "Our current plans are to initiate our inaugural drill program in 2023 to test these targets, pending necessary permits, drill availability, and favorable weather conditions. We have mobilized a field crew to lay out drill pads and drill roads. We expect to complete archaeological and native plant surveys within the next few weeks, to be followed by submission of a Geological Field Plan of Operations (“GFOP”) to the ASLD."