Drilling To Expand Resource And Provide Bulk Sample Materials For Additional Processing Options

VANCOUVER - American Lithium Corp. reported commencement of the phase III drill campaign to expand the current 5.37 million tonnes (Mt) Lithium Carbonate Equivalent (LCE) at the Company’s wholly owned TLC sedimentary lithium project in Nevada. Further, the program will provide bulk material to continue independent testing and validation of existing work on economical production of lithium by both hydrometallurgical and thermal processing methods. To date, all holes drilled at TLC have intersected significant lithium.

A maiden pit constrained resource of 1.107 billion tonnes measured and indicated (“M+I”) plus 362 Mt Inferred was established through the phase I & II drilling program of 2019-2020. This program included 23 RC drill holes and 5 core holes to yield this 5.37 million tonnes LCE M+I and 1.76 million tonnes LCE Inferred at a 400 ppm cut-off grade. Already established as one of North America’s largest confirmed sedimentary resources, this TLC resource is open both to the north and west on existing claims. In July 2020, an additional 52 claims comprising 1,074 (+26%) acres contiguous to the existing TLC property were added to the project due to evidence that the lithium structures continue in these directions.

Boart Longyear Company of Glendale, Arizona is contracted to complete six 6” diameter sonic drill holes. Since the ore is close to the surface the holes will be no more than 400 feet in depth. Initially, the drilling will focus north and northwest in the existing resource to upgrade inferred resources into measured & indicated resources. This drilling will test the newly acquired claim block to potentially further expand the resource on the site.

A key benefit from the recovered core in this drilling program is the availability of significant bulk samples to validate and optimize the Company’s hydrometallurgical and thermal processing options. American Lithium continues to work on numerous attractive process variations to seek the optimum flow-sheet for planned economic studies early in 2021.

Mike Kobler, CEO, said, “This phase III drilling program offers a strong opportunity to extend the size of this lithium deposit. We are most enthusiastic that our particular mineralization may offer more than one advantageous cost effective production opportunity that can be a real game-changer to fulfill the critical and expanding need for domestic lithium production in North America.”