Business
American Lithium Announces Financial and Operating Results for the Period Ended August 31, 2022
VANCOUVER, British Columbia, Nov. 02, 2022 (GLOBE NEWSWIRE) -- American Lithium Corp. (“American Lithium” or the “Company”) (TSX-V:LI | OTCQB:LIACF | Frankfurt:
About this update from American Lithium Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Nov. 02, 2022 (GLOBE NEWSWIRE) -- American Lithium Corp. (“American Lithium” or the “Company”) (TSX-V:LI | OTCQB:LIACF | Frankfurt:5LA1) is pleased to report its operating and financial results for the three month period ending August 31, 2022. Unless otherwise stated, all amounts presented are in Canadian dollars. “We made good progress across all projects during the quarter,” stated Simon Clarke, CEO of American Lithium. “In Peru we were pleased to be able to commence drilling again at and around our Falchani Deposit for the first time since before COVID 19. We are advancing well with initial assays anticipated shortly. We have also made good progress at Australian Nuclear Science and Technology Organisation (“ANSTO”) Minerals Business Unit laboratories in Sydney, Australia where we continue to refine the Falchani flow sheet to produce both sulfate of potash (“SOP”) and Cesium as economically important and strategic by-products. In addition, we continue to refine the Macusani uranium flow sheet for pre concentration and even higher extraction rates. \"In Nevada, the Company started to receive first assays with positive drill results from its 2022 drill program, including the best intersections and grades recoded to date at TLC and this momentum continued to build post quarter end. Initial drill results from this program have been incorporated into the existing TLC Resource and an updated Mine Plan which are being included in the Company’s maiden PEA for TLC, currently being finalized with leading engineering firm DRA Global.” Highlights During the Quarter: Launching of Pre-Feasibility Work at Falchani – commencement of Environmental Impact Assessment (“EIA”) with SRK Peru which will run in parallel with updates to the existing PEA. EIA Drilling at Falchani – commencement of hydrological and core drilling at Falchani. Validation of SOP as strategic by-product at Falchani - successful precipitation of high purity, fertilizer-quality SOP, strategically important because of Peru’s large dependence on imported fertilizers. Appointment of DRA Global and Stantec to update Falchani PEA - to expand / reclassify resource, bring in SOP and cesium by-products and update lithium carbonate pricing. Acquisition of additional concessions in Peru - acquired additional highly prospective mining concessions covering...