AmeriLithium Announces Positive CSAMT Survey Results On Jackson Wash Lithium Brine Project In Nevada
HENDERSON, NV, Jan. 31, 2012 /PRNewswire/ -- AmeriLithium Corp. (OTC Bulletin Board: AMEL; "AmeriLithium" or "the Company") is pleased to announce geophysical exploration has been completed on the Company's Jackson Wash lithium project in Esmeralda County, Nevada, and that positive results from the 2nd stage controlled source audio magneto-telluric (CSAMT) survey have been received. AmeriLithium has a 100% interest in the project, which comprises 65 placer mining claims totaling ~2,450 acres (3.83 square miles) and covering the center of an identified gravity low to the east of Nevada's lithium-producing Clayton Valley. The project lies to the immediate east of the Montezuma Range; to the immediate west of the range lies the Clayton Valley playa.
In regard to AmeriLithium's four Nevada-based properties – Paymaster, Clayton Deep, Full Monty, and Jackson Wash – the Company has now received all reports associated with both the gravity and CSAMT surveys for each of the properties, thereby concluding the final phase of a two-phase geophysical exploration program. The purpose of the geophysical exploration program has been to identify geologic conditions favorable for lithium-bearing brine accumulation beneath the four Nevada claim blocks and to identify targets on each property for exploration drilling during the next phase of exploration. Planning and permitting for a targeted drilling program has begun. In particular, the new drill program will include further development of the first stage drilling that was completed on the Company's Paymaster property on April 11, 2011, which included the successful drilling of the initial 3 holes of that property's 8-hole drill program.
In regard to the completion of the Jackson Wash property CSAMT survey, findings from a previous gravity survey were used to place the CSAMT survey lines over the deepest central portion of the Jackson Wash basin. The stratigraphic and structural detail shown in the data for both survey lines is excellent and indicates the presence of highly conductive layers and geologic structures that are strong indicators of brines below the surface within the Jackson Wash claim block.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV