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TheStreet Open House

AmeriLithium Provides Positive Update On Drilling Progress & Confirms Completion Of First Drill Hole

Stock quotes in this article: AMEL

HENDERSON, NV, March 24, 2011 /PRNewswire/ -- AmeriLithium Corp. (OTC Bulletin Board: AMEL; "AmeriLithium" or "the Company") is pleased to provide a progress update on the Company's 8-hole drill program on the Paymaster Canyon Lithium brine project in Nevada, USA, and confirms the completion of the first drill hole. The Company's corporate website ( http://amerilithium.com/) has been updated to provide pictures of the drilling setup and operation on the Paymaster asset as well as all information from the previous exploration phases already completed and details on AmeriLithium's other Lithium-focused projects.

As of Tuesday, March 22nd, the drilling of hole one had been completed. The crew will continue to work 10-hour shifts to finish the remaining two holes in a timely manner, with completion of the second hole expected within the next 7 days. (Detailed drilling progress notes are provided further below.)

Members of the AmeriLithium management and advisory team that were on-site to oversee the start of the operation included Matthew Worrall, CEO; Robert Allender, VP of Exploration & Chief Geologist; and Robert Craig, P.E., Chief Mining Advisor.

"So far, the drilling is providing physical confirmation of what the geophysical surveys from our previous phase of exploration predicted," said Matthew Worrall, AmeriLithium's CEO. "We've already encountered areas within hole one that look positive for brine, and we are looking forward to the successful completion of the next hole."

The program's 3 initial holes will test areas of significant Lithium brine potential identified by the Company's exploration program (i.e., areas marked by gravity lows and low resistivity), followed by the remaining 5 holes depending on the initial drilling results.

DETAILED DRILLING PROGRESS NOTES: TUESDAY, MARCH 22

Robert Allender, VP of Exploration & Chief Geologist, provided the following update for the first hole, "Our first drill hole in Paymaster Canyon has been successfully completed. Casing and screen have been installed. The well is being conditioned today in anticipation of water sample collection this afternoon. The borehole penetrated the same stratigraphic sequence that is evident in wells drilled in Clayton Valley to the southwest and in Alkali Flats to the east of Paymaster Canyon. This stratigraphy includes carbonate rocks interbedded with volcanic ash-fall and ash-flow tuffs of the bimodal basalt-rhyolite assemblage that occupies this area of Nevada. These tuffs are the water-bearing units that contain lithium in Clayton Valley and from which Chemetall-Foote has been producing lithium for over 50 years. Perforated well screen was placed in two zones that exhibited lithologic and water quality characteristics consistent with Clayton Valley-type lithium-rich brines. Temperature and conductivity measurements were collected throughout both zones using field instruments. Water temperatures ranged from 33 to 34.3 degrees centigrade in the zone from a depth of between 325 feet and 390 feet. Water temperature ranged from 34.6 to 35 degrees centigrade in the zone from 490-580 feet. These temperature readings are indicative of Clayton Valley-type brines. Field-measured relative conductivities in these zones are also positive indicators of lithium-bearing brine.

Water samples will be collected this afternoon and delivered to ALS Chemex for analysis. ALS will analyze each sample for 27 elements including lithium, potassium, sodium, calcium, and magnesium by the ICP-AES technique (inductively coupled plasma (ICP) - atomic emission spectrophotometric (AES). ALS Chemex will also analyze all samples for brine quality parameters including pH, conductivity, total dissolved solids, and total alkalinity."

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