AmeriLithium Commences First Stage Exploration Planning for Australian Lithium Assets
HENDERSON, NV, Feb. 23, 2012 /PRNewswire/ -- AmeriLithium Corp. (OTC Bulletin Board: AMEL; "AmeriLithium" or "the Company") is pleased to announce the Company has begun first stage exploration planning for its three Western Australia lithium assets, which also represent the potential for gold mineralization. AmeriLithium's main focus is still firmly set on its lithium projects in Nevada, where geophysical exploration activities have been completed and work is progressing with respect to the drill programs for each Nevada project. At the same time, the Company has decided to begin preliminary exploration in Australia to take advantage of potential government grants which are currently available and the mineral potential of the Company's claims, whether in the form of lithium and/or gold.
AmeriLithium's three Australian claims cover over 43,000 acres around and abutting Lake Dumbleyung. AmeriLithium's assets include:
- Bare Rocks Project: immediate east of and abutting Lake Dumbleyung, covers a salt lake system expected to be rich in mineral deposits;
- Hoffman Hills Project: approximately 15.5 miles south of Lake Dumbleyung, covers a salt lake system expected to comprise the same brine drainage outlets as those found in the Bare Rocks Project; and,
- Normans Lake Project: 15.5 miles north of Lake Dumbleyung, represents another salt and drainage lake system expected to yield high mineral deposits.
While the primary motivation behind the Australian exploration program is the identification of lithium potential, additional motivation stems from (1) the potential to take advantage of the Australian government currently offering a grant of up to AUD$150,000 toward the drilling costs on multi-hole exploration projects, (2) the opportunity to explore for gold at the same time as exploring for lithium, and (3) data suggesting a gold trend potentially passing through the Company's Bare Rocks and Normans Lake projects (see further below for additional gold-related details).
The Company intends to execute a staged exploration program comprising remote sensing desktop studies, initial field reconnaissance, sampling of the brines and saline crusts, and analysis for lithium and a basic set of elements including K, Ca, Na, Mg, Bo, Cl and SO4. Additionally, the Company intends for the exploration plan to be tailored for the identification of any potential gold mineralization. AmeriLithium is currently in discussions to join with a strategic partner for its exploration programs in Australia, and is looking to utilize local knowledge and expertise. Further exploration plan details will be announced as they become available.
AmeriLithium's CEO, Matthew Worrall, commented: "Now that each of our Nevada lithium projects have advanced to the drilling stages of exploration, it makes sense for us to simultaneously begin assessing the potential of our sizeable Australian holdings. While there is no guarantee of discovering a gold reserve, with the added potential of gold mineralization and the potential support of the Australian government, we are looking forward to gaining a better understanding of the value of our Australian assets."
FOR MORE INFORMATION
More information on the Western Australian projects, and additional information regarding the Company, can be found at AmeriLithium's corporate website www.amerilithium.com along with the facility to sign up for regular news updates.
ABOUT LITHIUM: Lithium is a lightweight metal used in a wide range of consumer products the world over: the medical industry uses Lithium as an anti-depressant; industrial uses include glass, ceramic and porcelain enamel manufacture; the aviation industry uses Lithium in alloys. Of particular interest is the use of Lithium for battery production, which has expanded significantly in recent years due to rechargeable Lithium batteries being used increasingly in electrical tools and in the rapidly expanding portable electronics market. Furthermore, the next generation of hybrid and electric vehicles are being designed to use high-capacity Lithium-ion batteries as environmentally-friendly fuel alternatives while the Obama administration has introduced $5 billion in funding and incentives for the development of a secure, domestic battery industry with special focus on Lithium-ion batteries.
ABOUT AMERILITHIUM: AmeriLithium is a publicly traded (NASD OTC BB: AMEL), mining company committed to progressively developing into one of the leading American players in the global Lithium industry. The Company is headquartered in Henderson, NV. AmeriLithium has amassed a Lithium portfolio consisting of ~727,299 acres, including four Nevada-based projects nearby the only Lithium producing plant in the US, a large project in Alberta, Canada, and a project in Western Australia.
ON BEHALF OF THE BOARD OF DIRECTORS,
Matthew Worrall, Chief Executive Officer
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
871 Coronado Center Dr.
Henderson, Nevada 89052
Toll Free: 1-888-982-6374
SOURCE AmeriLithium Corp.Back to top