Amerilithium Corp. ("Amerilithium" or the "Company") announces that it has received a new technical report (the "Report") on the Company's Jackson Wash Lithium Brine Project (the "Jackson Wash Project") in Esmeralda County, Nevada. According to the Report, the Jackson Wash Project has the potential to contain economic lithium resources.
As such, the Company confirms the location of its previously identified 4 drill hole locations as part of a permitted 10-hole drilling exploration plan for the Jackson Wash Project that is designed to identify the presence, quantity, and quality of any lithium-bearing groundwater present in the property's subsurface.
The Company would also like to announce that it is in receipt of results from initial sampling on the companies Australian properties. Results will be reported once analysis and evaluation has been completed.
The Report is available for download on the Amerilithium website at http://www.amerilithium.com.
The Report is part of Amerilithium's current exploration of its portfolio of properties with the intent of identifying and developing lithium resources. Additional reports will follow, one on each of the Company's remaining Nevada lithium properties. Each report will provide an update on the respective project's stage of exploration and potential drilling plans.
Matthew Worrall commented: "The Report as per the one previously released for our Clayton Deep project, summarizes and confirms previously released findings of our preliminary stages of geophysical exploration, and suggests the formations and structures below are similar to those currently being exploited for lithium production in nearby Clayton Valley. The report was produced to provide the clarification we need on the best course to move forward. The Report has confirmed that the status of the Jackson Wash Project has been received, disseminated and compiled in compliance with 43-101 and Guide 7 requirements and we believe its findings warrant further investigation."
REPORT & EXPLORATION PLAN DETAILS
The Report was authored by Robert M. Allender, Jr., CPG, RG, SME (May 03, 2013), who has personally inspected the property on numerous occasions since its acquisition in September 2011, and has been responsible for the planning and implementation of exploration activities for the Jackson Wash Project and other Amerilithium-owned properties in the Clayton Valley area.
Although the report does not state any reserves for the property, it was prepared as a Canadian National Instrument 43-101 Technical Report, in accordance with Form 43-101F1, and qualifies to be filed with the US Securities Exchange Commission pursuant to Guide 7, Description of Property by Issuers Engaged or to be Engaged in Significant Mining Operations.
The Jackson Wash property is comprised of 65 unpatented placer claims totaling 2,450 acres (991 hectares). The claims cover the Jackson Wash Basin Gravity Low, previously identified by a regional United States Geological Survey gravity investigation. The geologic formations that compose the surrounding mountain ranges contain unusually high concentrations of lithium. Amerilithium's past geophysical investigations have identified geologic formations and structures that are consistent with the lithium-bearing brine deposit models that are elsewhere present in Clayton Valley. Furthermore, the geophysical signature of these formations and structures suggests they are similar in nature to those currently being exploited for lithium brines at other facilities. Based on the results from the preliminary exploration geophysics, the project warrants further investigation.
The next logical steps in the process of exploration for the Jackson Wash Project include drilling and sampling of the sediments and groundwater in the basin. Physical examination of the drill cuttings and laboratory analysis of water and sediments is the most cost effective way to determine the presence or absence of economic lithium deposits beneath the property. The Company has received approval from USBLM for a 10-hole drilling program on the Jackson Wash property. The Notice of Intent to conduct exploration drilling at Jackson Wash was submitted to USBLM on May 7, 2012 and approved on July 5, 2012. The first four holes are designed to test specific structural and stratigraphic targets identified by the geophysical surveys. Based on the success of the first four holes in finding brine aquifers and anomalous lithium contents, the additional six holes would be placed to expand on the information about hydrogeology and lithium mineralization that might be discovered.
The initial exploration program is proposed to consist of drilling 4 reverse circulation drill holes to a maximum depth of 2,770 feet (845 meters). Average drill hole depth is anticipated to be approximately 1,898 feet (579 meters). All drill holes will be vertical in orientation.
More information on the Jackson Wash Lithium Project, 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.
Lithium is a lightweight metal used in a wide range of consumer products all over the world: the medical industry uses lithium as an anti-depressant; industrial uses include glass, ceramic and porcelain enamel manufacture; and 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.