- Fish Lake Valley geophysical specialist brings 40 years' experience to company offering structural and stratigraphic analysis
- Advance understanding of regional tectonics and define geometry of faults within Fish Lake Valley lithium brine basin
- Results used to optimize current 13 hole drill program in the North Bowl Playa, as well as 2H 2016 permit application for South Bowl Playa
VANCOUVER, June 7, 2016 /CNW/ - American Lithium Corp. (TSXV: Li) (Frankfurt: 5LA) ("American Lithium" or the "Company"), is pleased to announce that the Company has entered into a Technical Consulting Agreement (the "Agreement") with Dr. John S. Oldow, Ph.D., Director of the Ellison Miles Center for Geological Field Studies at the University of Texas, Dallas, effective June 1, 2016.
The objective of the Agreement is to advance Dr. Oldow's regional geophysical work to develop a geological model of the Company's 18,552 acre lithium brine project in Fish Lake Valley, Esmeralda County, Nevada. Dr. Oldow's work includes geologic mapping and the application of structural and stratigraphic analysis, along with potential field geophysics, GPS geodesy and terrestrial laser scanning to advance understanding of regional tectonics. The Fish Lake Valley geological model is expected to define basin depth, thickness and distribution of the reservoir in the basin, along with the geometry of faults around and within the basin.
Mr. Michael Kobler, CEO of American Lithium, commented, "Fault geometry is critical in the development of lithium brine basins in that the structures may provide vertical conduits for fluid flow and may also represent aquitards controlling lateral flow in a segmented basin system. Understanding where these structures exist within the basin will direct the Company's upcoming drilling program. Dr. Oldow and his team of Ph.D. students from the University of Texas will provide detailed stratigraphic descriptions of the basin reservoir based on their previous work on exposed sections of the formation adjacent to the Company's Fish Lake Valley lithium brine property."
Dr. Oldow's past geophysical work in Fish Lake Valley, including a detailed gravity survey which defined historical gravity lows in both the North and South Bowl Playas, as deep sub-basins, was instrumental in directing the acquisition of the Company's South Bowl Playa property and optimizing our current 13 hole drill program in the North Bowl Playa (see Company's news release dated June 1, 2016).
Specifically, Dr. Oldow's geological mapping shows the presence of lithium-bearing rocks in the ranges draining into the North and South Bowl Playas, anomalous to contents of lithium reported in surface and historical drill hole brines in the Fish Lake Valley basin within 3 miles of the South Bowl Playa property. Results from Dr. Oldow's work under this Agreement are expected to direct the Company's application for drill permits in the South Bowl Playa during the second half of 2016.
Dr. Oldow holds a Ph.D. in Geology from Northwestern University (1978) and a Bachelor of Science in Geology from the University of Washington (1972). He has been a key team member at numerous organizations in the sector and was named as a Fellow of the Geological Society of America in 1992 and served by invitation on numerous committees for the National Science Foundation.
Michael Collins, P.Geo. is the Company's designated Qualified Person within the meaning of National Instrument 43-101, and has reviewed and approved the technical information contained in this news release.
ABOUT American Lithium Corp.
American Lithium Corp. is actively engaged in the acquisition, exploration and development of lithium deposits within mining-friendly jurisdictions throughout the Americas. American Lithium holds options to acquire Nevada lithium brine claims totaling 20,790 acres (8,413 hectares), including 18,552 acres (7,508 hectares) in Fish Lake Valley, Esmeralda County, and the 2,240 acre (907 hectare) San Emidio Project in Washoe County. The Company's Fish Lake Valley lithium brine properties are located approximately 38 kilometers from Albemarle's Silver Peak, the largest lithium operation in the U.S., approximately 3.5 hours from the Tesla Gigafactory. American Lithium is listed on the TSXV under the trading symbol "Li". For further information, please visit the Company's website at www.americanlithiumcorp.com.
On behalf of the Board,
American Lithium Corp.
Michael Kobler, Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE American Lithium Corp
For further information: contact Michael Kobler at [email protected]