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American Lithium Reports Highest Grade Assay To-Date and Expands TLC Discovery Project as US Senate Discusses Domestic Resource Security
VANCOUVER, British Columbia, May 22, 2019 (GLOBE NEWSWIRE) -- American Lithium Corp. (LI.V) (LIACF) (5LA1.F) (“American Lithium” or the “Company”) a leading acq
About this update from American Lithium Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, May 22, 2019 (GLOBE NEWSWIRE) -- American Lithium Corp. (LI.V) (LIACF) (5LA1.F) (“American Lithium” or the “Company”) a leading acquisition, exploration and development operator is extremely pleased to announce continued outstanding assay results from the Phase I drill program on its growing TLC sedimentary lithium project (“TLC”) located just outside the regional mining centre of Tonopah, Nevada. The Company’s positive drill results come at a time of significant renewed interest in the lithium sector as the United State Senate introduces bipartisan legislation to secure mineral resources and supply chains in order to reduce reliance on foreign sources. The American Minerals Security Act features lithium as one of several \"critical minerals\" to the auto and energy industries. With the U.S. producing only 1% of the global lithium supply and only 7% of the refined lithium chemical supply against China’s dominant 51%, the situation is best summed up by Benchmark Mineral Intelligence’s Managing Director, Simon Moores who notes, “these supply chains are the oil pipelines of tomorrow. The lithium ion battery is to the 21st century what the oil barrel was to the 20th century,” As noted in a Bloomberg article recently, boosting local production of the raw minerals would be the first step toward building out a rechargeable battery industry that’s so far been concentrated in Asia. With growing governmental visibility, accountability and potentially game-changing legislative focus in mind, American Lithium is pleased to report on our latest assay results from holes 8 through 12 as we increasingly ascertain positive results and implied scope of our ongoing 18-hole drill program. Highlights Grade and thickness remain consistent with previous results of TLC-1901 through TLC-1907; Extends known mineralization to the south and to the west; Lithium grades continue to demonstrate consistent grades throughout wide near surface down hole intervals; Permitting modifications have been received to drill three core recovery holes including the extension of TLC-0908 which concluded just as an occurrence of strong lithium mineralization was identified; The Company is moving ahead towards the completion of a regulatory compliant NI 43-101 Resource Estimate; Work continues with metallurgical studies, infrastructure and poten...