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American Lithium Updates Activities at 22,323 Acre FLV Nevada Prospect
Vancouver, British Colimbia--(Newsfile Corp. - July 16, 2018) - American Lithium Corp. (TSXV:...
About this update from American Lithium Corp.
[{"type":"text","content":"American Lithium Updates Activities at 22,323 Acre FLV Nevada ProspectVancouver, British Colimbia--(Newsfile Corp. - July 16, 2018) - American Lithium Corp. (TSXV: LI) (OTCQB: LIACF) (FSE: 5LA) (WKN: A2AHEL) (\"American Lithium\" or the \"Company\"), a company focused on the discovery and development of lithium in the Americas, is pleased to provide its stakeholders with the following corporate update.The Company's primary asset is its wholly owned FLV Project, located in Fish Lake Valley, Nevada, and consists of 22,332 acres of mineral claims highly prospective for lithium in brines, clays and claystones. Since 2016, American Lithium has been extensively engaged in the early exploration and evaluation of the FLV Project. A resurgence of interest in domestic US lithium production and increasingly cost-effective development methods, are bringing increased interest in the region's production potential. As a result, the Company is stepping up development at the FLV Project. In early 2018, management completed a $4.2 million financing to fund continued exploration and development of the FLV Project. Subsequent to the financing, the Company acquired an additional 3,575-acre parcel in the valley, the Gap-Lode Project, comprising 167 claims, contiguous to the FLV Project, and particularly prospective for lithium deposits in the resident claystones throughout the claim area. HighlightsFully funded to complete an upcoming drill program on Fish Lake Valley lithium brine targets;Land holdings increased to 22,332 acres following the acquisition of additional claystone prospective ground within the basin;Ongoing surface mapping and sampling indicating lithium clay stone targets more widespread;Strong interest in Fish Lake Valley due to neighboring $550 million Rhyolite Ridge project generating broad attention;US Government establishes lithium as a strategic metal, emphasizing the importance of domestic supply.The valley's prospectivity for lithium and boron is well known since mining began there in the 1880s. Surging lithium demand and rising prices, along with recent strategic metal status being declared by the US Government and breakthroughs in lithium processing methods, have intensified investment focus onto US domestic lithium production. Principal among the Fish Lake Valley lithium deposits under evaluation are lithium claystones, such...