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Ameriwest Lithium Propels Railroad Valley Study with Seismic Data Acquisition
VANCOUVER, British Columbia, Nov. 03, 2021 (GLOBE NEWSWIRE) -- Ameriwest Lithium Inc. (“Ameriwest” or the “Company”) (CSE: AWLI) (OTC: AWLIF) (FSE: 5HV0), a Nor
About this update from Ameriwest Critical Metals Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, Nov. 03, 2021 (GLOBE NEWSWIRE) -- Ameriwest Lithium Inc. (“Ameriwest” or the “Company”) (CSE: AWLI) (OTC: AWLIF) (FSE: 5HV0), a North American lithium exploration and development company, is pleased to announce the acquisition of a quantity of pre-existing high-quality seismic data directly relevant to its 9,097-acre Railroad Valley property in Nye County, Nevada. Concurrent to the previously announced positive preliminary results from a recent geophysical survey (as of October 27, 2021), the Company successfully identified and obtained an immensely useful and cost-saving body of seismic data which will significantly increase the interpretive understanding of the basin characteristics in order to develop future drill targets. The Railroad Valley property presents a uniquely convergent opportunity for lithium extraction in an area with abundant oil and gas industry seismic data. Of the available oil industry data acquired by the Company, three lines have been identified as having both high quality and specific utility for assisting with identifying subsurface structure and the presence of potential faults in the Railroad Valley Graben. In total, 26.7 line-miles of existing seismic data was obtained from Seismic Exchange Inc. (“SEI”) (www.seismicexchange.com) from historic oil & gas industry data. Ameriwest has retained Castillo Geophysical Limited (www.castillogeophysical.com), and Legg Geophysical, Inc. (www.legggeo.com) who have regularly partnered their combined experience at reprocessing vintage seismic data using modern processing techniques. Castillo Geophysical will reprocess the data while Legg Geophysical produces synthetics from existing well logs and interprets the data, incorporating related geophysical and geologic information to characterize the geometry of the basin. Estimated cost of the acquisition, reprocessing, reinterpretation, and reporting is approximately US$106,000, or about US$4,000 per line-mile. The work is expected to be completed prior to Christmas. David Watkinson, President and CEO of Ameriwest stated, “Obtaining a seismic study at US$4,000 per line mile represents a major cost savings for the Company. The price is about 1/5th of what it would have cost to acquire a similar data set from field work and have it interpreted as a new project. The timeframe required to ...