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American Lithium to acquire Crescent Dunes Project adding 3,886 acres of highly prospective ground immediately north of TLC with up to 2,361 ppm Li at surface
VANCOUVER, British Columbia, Sept. 08, 2021 (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, Sept. 08, 2021 (GLOBE NEWSWIRE) -- American Lithium Corp. (“American Lithium” or the “Company”) (TSX-V:LI | OTCQB:LIACF | Frankfurt:5LA1) is pleased to announce that it has entered into a share purchase agreement, dated September 7, 2021, with Big Smoky Holdings Corp. (“Big Smoky”) and each of the shareholders of Big Smoky (the “Vendors”), pursuant to which it will acquire all of the outstanding share capital of Big Smoky. Big Smoky controls the Crescent Dunes Project (“Crescent Dunes”), consisting of 3,886 acres of highly prospective exploration land immediately north of, and contiguous with, the Tonopah Lithium Claims (“TLC”) project, consolidating more of the known shallow occurrences of TLC lithium claystone mineralization. Acquisition Highlights: Crescent Dunes comprises a large parcel of highly prospective exploration acreage contiguous with the TLC project; Crescent Dunes has similar geology to TLC with historical work including mapping, inclined trenching and outcrop and auger sampling work yielding highly anomalous mineralized claystone with up to 2,361 ppm Li; The Company will acquire full title to Crescent Dunes with no royalties or other encumbrances though the acquisition of Big Smoky; The Company intends to launch additional field work at Crescent Dunes, including initial drilling, as soon as practicable during Fall 2021; and Following the acquisition, total land holdings at TLC will be 11,410 acres. Simon Clarke, CEO of American Lithium, commented, “the Crescent Dunes acquisition adds further highly prospective exploration acreage to the TLC Project, which will now essentially cover the bulk of known shallow claystone geology in our basin. The occurrence of a sequence of higher-grade lithium-bearing claystones above 2,000 ppm Li at surface is very encouraging, especially because at TLC such grades were only encountered in drilling. We look forward to further exploration and drill testing, on what will become TLC North, to build on the encouraging recent historical results.” Crescent Dunes Details & Historical Results Crescent Dunes comprises approximately 3,886 acres of highly prospective exploration land immediately north of the TLC project border. Crescent Dunes has similar claystone geology as TLC, but with outcropping lithium mineralization exposed in an up-thrown block reveal...