VANCOUVER, British Columbia, May 19, 2023 (Globe Newswire) — Ameriwest Lithium Inc. (“Ameriwest” or the “Company”) (CSE: AWLI) (OTC: AWLIF) (FSE: 5HV0), North America Lithium The exploration and development company is pleased to announce that it has submitted a technical report (the “Report”) on its Thompson Valley lithium asset (the “Asset”) in Midwestern Arizona. This report is based on the requirements of National Instrument 43-101 (“NI 43-101”) and the standards of the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) and geological testing completed by us in 2022. I am summarizing my work. Geological mapping, surface sampling, geophysics. It identifies six lithium exploration targets with potential deposits of 200-400 million tonnes (220-440 million tons), with expected average grades of 114-842 for these deposits. ppm Li range. As a next step for the property, the company is recommending a two-phase exploration. Phase 1 consists of additional geophysics and permits. Phase 2 will consist of drilling and sample analysis to begin the process of defining the deposit and its potential tonnage and grade. No mineral resources or reserves have been listed for this property yet.
Ameriwest CEO David Watkinson said: We are excited to move forward with our exploration program as recovering samples of lithium above 1,000 ppm is not routine. Writing a technical report is an important milestone, allowing you to accurately document your findings and establish exploration goals for future programs. “
About Thompson Valley Project and Technical Report Highlights
The property is located in rural Midwest Arizona, USA, in Yavapai County along the Kirkland Creek Drainage between the towns of Kirkland in the southeast and Hillside in the southwest on County Route 15. Mineral rights are organized in Arizona combinations. The (state) and US federal mineral rights total 6,881 ac (2,785 hectares). A portion of the land, 91% or 6,263 ac (2,534.46 hectares), is state trust land, and the surface and minerals are owned by the state. The remaining 9% of the property or mineral rights of 618.47 ac (250.29 hectares) are owned by the US Government under the Department of the Interior and administered by the Bureau of Land Management (BLM). Mineral rights on these federal lands are administered by the U.S. government, but are “divided property” and the surface is privately owned and owned separately from the minerals. The development of mineral rights takes precedence over land grazing rights.
White clay deposits were first discovered in the Thompson Valley by Joseph Lyles in the mid-1950s. Arizona identified the deposit as the “White Hills Lithium Deposit” in 1957. In 1960 he conducted a shallow sampling of the area by the USGS and found the clay to be a lithium-bearing bentonite clay known as “hectorite.” The lithium content of the samples was reported by USGS 1965, including his two locations in the Mineral Rights Area.
The Thompson Valley has Quaternary to Tertiary sediments covering the valley floor, with large basalt streams of similar age to the north and south. Precambrian granite and schist are exposed to the west and east. The valley floor deposits are volcanic ash, tuff, decomposed basalt and granite deposits, partly hydrothermally altered. There is evidence that the Thompson Valley deposit may have been a highly mineralized lake. The lake was fed by mineralized hot springs, and as it cooled, various minerals, such as lithium, may have precipitated as carbonates. The lake sediments also contained ash and tuff, which were transformed into clay. There appear to be two forms of lithium in the Thompson Valley region: 1) white, waxy, translucent clays like hectorites with high lithium content, and 2) usually not white, not waxy, and multicolored. is a clay-like sediment. It is translucent, has a high carbonate content and very little actual clay content.
Exploration conducted by Ameriwest at the site began in 2022 and consisted of describing surface features and mapping the site, analyzing surface samples obtained from the area, and commissioning a satellite geophysical survey. A total of 205 samples were acquired and analyzed. The lithium content of surface samples analyzed across the project area ranged from 2 to 1,295 ppm. Of these, 36% had a lithium content above 200 ppm, 14% above 500 ppm and 3% above 1,000 ppm with a mean of 227 ppm Li and a standard deviation of 269 ppm Li. Most lithium-containing samples are carbonate-rich and react to acids (see press release dated December 13, 2022 for details and information on QA/QC procedures).
These samples define six primary exploration areas for follow-up exploration, covering an area of approximately 1,108 acres. The potential tonnage of these targets is estimated at 207 to 414 million tons based on estimated depths of 75 to 150 feet (23 m to 46 m). The range of surface sample analysis within six exploration targets is 12 to 1,295 ppm Li. Of the 123 samples within the combined target area, 47% had a lithium content above 200 ppm, 19% had a lithium content above 500 ppm, 4% had a lithium content above 1,000 ppm, and the mean is 286 ppm lithium, standard deviation is 287 ppm lithium. Note that surface sampling does not necessarily correlate with grades likely to be found in drilling, but does indicate the potential for lithium to be found at depth through drilling below surface sampling anomalies.
From the above analysis detailed in the report, Ameriwest noted that the exploration target chosen in the Thompson Valley was that the property would have a 200-400 million tonnes (220-440 million tonnes) We believe it shows the potential to host a range of deposits (or series of deposits). The size is Li with an expected average grade of 114-842 ppm. This should be verified by drilling, analysis and modeling.
The report recommends a Phase 1 exploration program consisting of geophysics and permits. Geophysics consists of REG satellite magnetic resonance surveys. Permits include obtaining a right of way (“ROW”) to access the site, preparing an excavation plan (location of roads and drilling pads), archaeological investigation of the disturbed area, Includes botanical surveys. Disturbed, geological field operations (“GFOP”) completed with Arizona.
The report further recommends proceeding with a Phase 2 exploration program, including an initial core drilling and sampling program, after obtaining the necessary approvals. This includes approximately 11 boreholes totaling 3,300 feet (1,005 m), project supervision, core logging, and laboratory analysis. Mineralogical studies have also been completed and the technical report will be updated. Please note that Phase 2 work is subject to permitting and other factors, and the scope of work may be adjusted as necessary.
Entitled “Qualified Person Technical Report on Thompson Valley Lithium Project Exploration Objectives, Yavapai County, Arizona,” this report is being prepared by Gregory J. Bell, MS, PE, PE of Senergy Engineering, on behalf of Ameriwest Lithium Inc. and by Brian A. Beck. , MSP Geo. It is a CPG of Brian Beck Consulting LLC with a reporting date of January 31, 2023 and an effective date of January 17, 2023. The authors are both consultants working for Ameriwest and are considered non-independent qualified persons under National Instrument NI 43-101. You can find this report under our company report. www.sedar.com
Dr. David Watkinson, a non-independently qualified individual based on the NI 43-101 instrument, reviewed and approved the technical content of this release. Mr. Watkinson is President and CEO of Ameriwest.
About Ameriwest Lithium Co., Ltd.
Ameriwest Lithium Inc. is a Canadian-based exploration company focused on identifying strategic lithium mineral resource projects for exploration and development. The Company is currently focused on exploring the Thompson Valley lithium assets in Yavapai County, Arizona. Amelie West owns his 100% of his 6,881-acre property. As described in our news release dated January 31, 2023, we have entered into an option agreement with Nova Lithium Corporation (“Nova”) under which Nova will acquire 22,210 acres of Edwards Creek Valley land. A 51% stake in the project is now available. Ameriwest Lithium also owns 100 percent of Nevada’s 5,640 acres of Little Smoky Valley land, 13,580 acres of Railroad Valley land, and 7,600 acres of Deer Mask East land. .
On behalf of the Board of Directors
Glen Collick
Chief Operating Officer and Director
For more information, please contact:
Glen Collick
Chief Operating Officer and Director
(778) 868-2226
The Canadian Stock Exchange has not communicated in any way on the merits of any of the matters referred to herein and has neither endorsed nor disapproved of the contents of this news release.
Cautionary Note Regarding Forward-Looking Information
Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, “expect,” “plan,” “estimate,” “expect,” “may,” “plan,” and “intend.” , and is identified by the use of words such as “should”. , a similar expression. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results or events to differ materially from those projected by such forward-looking statements. increase. Our actual results are not projected in this forward-looking information as a result of regulatory decisions, competitive factors in the industries in which we operate, current economic conditions, changes in our strategic growth plans and other factors. may differ significantly from those presented. Many of them are beyond our control. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that these expectations will prove correct and such forward-looking information may not be unreasonable. should not be relied upon. The forward-looking information contained in this news release represents our expectations as of the date of the announcement and is subject to change after that date. We disclaim any intention or obligation to update or revise any forward-looking information as a result of new information, future events or otherwise, except as required by applicable securities laws.
