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American Lithium Announces Maiden Pit-Constrained Mineral Resource of 5.37 Million Tonnes Lithium Carbonate Equivalent Measured and Indicated and 1.76 Million Tonnes Inferred
VANCOUVER, British Columbia, May 21, 2020 (GLOBE NEWSWIRE) -- American Lithium Corp. (TSXV: LI) (OTCQB: LIACF) (Frankfurt: 5LA1) (“American Lithium” or the “Com
About this update from American Lithium Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, May 21, 2020 (GLOBE NEWSWIRE) -- American Lithium Corp. (TSXV: LI) (OTCQB: LIACF) (Frankfurt: 5LA1) (“American Lithium” or the “Company”) a leading lithium exploration and development company is pleased to announce a mineral resource estimate (“Resource”) prepared by Stantec Consulting Ltd. (“Stantec”) for the Company’s wholly owned TLC Lithium Claystone property near Tonopah, Nevada (“TLC Property”). Highlights Maiden pit-constrained Resource (at 400 ppm cut-off) of 1.107 billion tonnes Measured and Indicated (“M+I”) plus 362 Mt Inferred containing 5.37 million tonnes Lithium Carbonate Equivalent (“LCE”) M+I and 1.76 million tonnes LCE Inferred. The following table is a summary of pit constrained Li at various cut-offs: Table 1: Summary of the TLC Pit Constrained Resource Li Cutoff(ppm) AssuranceCategory Tonnes(000) Average LiGrade (ppm) ContainedLi Tonnes ContainedLCE Tonnes ContainedLiOH Tonnes 400 ppm(base case) Measured & Indicated 1,107,000 912 1,010,000 5,370,000 6,110,000 Inferred 362,000 912 330,000 1,760,000 2,000,000 600 ppm Measured & Indicated 869,000 1,036 900,000 4,790,000 5,450,000 Inferred 289,000 1,016 290,000 1,540,000 1,750,000 800 ppm Measured & Indicated 651,000 1,137 740,000 3,940,000 4,470,000 Inferred 218,000 1,118 240,000 1,280,000 1,450,000 1000 ppm Measured & Indicated 449,000 1,247 560,000 2,980,000 3,390,000 Inferred 143,000 1,228 180,000 960,000 1,090,000 CIM definitions are followed for classification of Mineral Resources. LCE is Lithium Carbonate Equivalent (Li2CO3); LiOH is LiOH·H2O. Totals may not represent the sum of the parts due to rounding. The Mineral Resource estimate has been prepared by Derek Loveday, P. Geo. of Stantec Consulting Services Ltd. In conformity with CIM “Estimation of Mineral Resource and Mineral Reserves Best Practices” guidelines and are reported in accordance with the Canadian Securities Administrators NI 43-101. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that any mineral resource will be converted into mineral reserve. Michael Kobler, CEO of American Lithium, states “We are extremely excited with these results as they confirm the real scale of this project. We now plan to complete more metallurgical work and process testing, follo...