american-li-1688

American Lithium finds Li, B target at Fish Lake

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2016-08-08 07:21 ET – News Release

Mr. Michael Kobler reports

AMERICAN LITHIUM IDENTIFIES LITHIUM AND BORON TARGET ON EASTERN FLANK OF FISH LAKE VALLEY

American Lithium Corp. has identified historic drilling information from U.S. Borax reports that identifies a lithium and boron hydrothermal enrichment on the east side of Fish Lake Valley. This information defines a new lithium and borax target in the Lower Fish Lake Assemblage (“LFVA”) which outcrops onto the Companies claims on the eastern side of the Fish Lake Valley.

The historic report contains grades and intervals of lithium and boron*. /

*The resource estimate of the Fish Lake Hills deposit, (US Borax project report, 1987) is a historic resource therefore the estimate cannot and should not be relied upon. The historic estimate has been presented here to demonstrate the evidence of brine and sediment enrichment in lithium. There is no certainty that the historic grades and intervals identified in US Borax drilling will extend into the companies claims.

The LFVA that hosts these historic drill holes is laterally continuous and outcrops on the American Lithium Claims on the east side of the claim package. The LFVA is also expected to extend into the Fish Lake basin to the west where the sediments are down dropped by the faulting that formed the Fish Lake Basin.

“The identification of high grade lithium and boron in clays at and near surface in Fish Lake Valley demonstrates both a stand alone lithium clay target as well as the potential for the presence of lithium enriched brines.” comments Mike Kobler, Chief Executive Officer of American Lithium. “Furthermore, we are excited to have this additional information to integrate into our exploration model as we move to being drilling our Fish Lake lithium brine targets in August/September 2016.”

Under the direction of Dana Brock, P.E., R.G., C.E.G., Vice President, Geosciences and Engineering, The company will be mobilizing a field crew to map and sample the exposed LFVA sediments. Additionally, work by Dr Oldow’s basin modelling group will help define the depth of the intersection of the LFVA with the basin sediments and qualify that target in relation to the Upper Fish Lake Assemblage which hosts the lithium brine production at Ablemarle’s wells in the adjacent Clayton Valley.

Michael Collins, P.Geo. is independent of the company and 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.

We seek Safe Harbor.

© 2016 Canjex Publishing Ltd. All rights reserved.

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