May 20 2010
AmeriLithium Corp. (OTC Bulletin Board: AMEL; "AmeriLithium" or "the Company") is pleased to announce the completion of the field work stages of the geophysical survey by GeoXplor Corp. on the Company's Paymaster Project in Nevada.
Results from the survey will be made available within the next 2 to 4 weeks in a report from GeoXplor geophysicist Jim Hasbrouck. AmeriLithium will announce the survey results in due course while making photos of the Nevada site.
The survey team, led by John Rudd and Jim Hasbrouck of GeoXplor, completed 25 kilometers of lines at 250m station readings on May 5, 2010. AmeriLithium's Vice President of Exploration & Chief Geologist, Robert Allender, was onsite during the survey activities to oversee the operation, which was completed later than expected due to severe winds on the site.
"Now that the Paymaster field work is successfully completed, we're excited to know what the survey's results indicate," said Robert Allender, AmeriLithium's VP of Exploration & Chief Geologist. "And once we're armed with that data about the basin's depth, we'll be in the position to define areas of maximum potential for Lithium brine concentrations. It's encouraging to see the Company advancing in this way, especially since we're talking about exploration that's going on right here in our own backyard of Nevada."
AmeriLithium's Paymaster Project represents a 5,880-acre claim block adjacent to the Clayton Valley playa, where Lithium-rich brines and evaporates have been accumulating for more than 30,000 years, resulting in the highest Lithium content found in any brines tested by the US Geological Survey (USGS) in southwestern US playas and basins. Clayton Valley is home to the only US-based Lithium producing plant, operated by neighboring Chemetall Foote Corporation, a subsidiary of Rockwood Holdings, Inc. The plant has been in production since 1967, producing an estimated 50 million kg (55,000+ tons) of Lithium to date from the region's rich brines.
Lithium deposits are currently mined to the immediate south of AmeriLithium's Paymaster Project in Clayton Valley via an environment-friendly and economic solution-mining technique, pumping brines from aquifers only a few hundred meters beneath the valley. Such subsurface brines currently represent the dominant raw material for Lithium carbonate production worldwide due to the lower production costs when compared with hard-rock ore mining and processing.