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TheStreet Open House

AmeriLithium Commences First Stage Exploration Planning For Australian Lithium Assets

HENDERSON, NV, Feb. 23, 2012 /PRNewswire/ -- AmeriLithium Corp. (OTC Bulletin Board: AMEL; "AmeriLithium" or "the Company") is pleased to announce the Company has begun first stage exploration planning for its three Western Australia lithium assets, which also represent the potential for gold mineralization. AmeriLithium's main focus is still firmly set on its lithium projects in Nevada, where geophysical exploration activities have been completed and work is progressing with respect to the drill programs for each Nevada project. At the same time, the Company has decided to begin preliminary exploration in Australia to take advantage of potential government grants which are currently available and the mineral potential of the Company's claims, whether in the form of lithium and/or gold.

AmeriLithium's three Australian claims cover over 43,000 acres around and abutting Lake Dumbleyung. AmeriLithium's assets include:

  • Bare Rocks Project: immediate east of and abutting Lake Dumbleyung, covers a salt lake system expected to be rich in mineral deposits;
  • Hoffman Hills Project: approximately 15.5 miles south of Lake Dumbleyung, covers a salt lake system expected to comprise the same brine drainage outlets as those found in the Bare Rocks Project; and,
  • Normans Lake Project: 15.5 miles north of Lake Dumbleyung, represents another salt and drainage lake system expected to yield high mineral deposits.

While the primary motivation behind the Australian exploration program is the identification of lithium potential, additional motivation stems from (1) the potential to take advantage of the Australian government currently offering a grant of up to AUD$150,000 toward the drilling costs on multi-hole exploration projects, (2) the opportunity to explore for gold at the same time as exploring for lithium, and (3) data suggesting a gold trend potentially passing through the Company's Bare Rocks and Normans Lake projects (see further below for additional gold-related details).

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