VANCOUVER, British Columbia, Sept. 20, 2021 (GLOBE NEWSWIRE) -- Ameriwest Lithium Inc. (“Ameriwest” or the “Company”) (CSE: AWLI) (OTC: AWLIF) (FSE: 5HV0), a North American lithium exploration and development company, is pleased to announce it has it has staked 847 placer mineral claims covering an area of 16,940 acres in the Edward’s Creek Valley, Nevada (“ECV” or the “Property”). Ameriwest has effectively tied up the entire valley, an area roughly 8.25 miles long and 3.25 miles wide in size. The Company believes the mineral claims are highly prospective for the discovery of lithium brines deposits.
David Watkinson, President and CEO of Ameriwest stated, “ECV exhibits similar geologic characteristics of the Clayton Valley, which contains North America’s only operating lithium mine, which is operated by Albemarle Corporation. Ameriwest’s technical team has recognized the potential of the valley and the Property as a likely host for lithium brine deposits, and we are excited to move forward with a geophysics study to achieve an understanding of the subsurface possibilities for lithium brines that may be hosted in various aquifers.”
ECV is a playa in a hydrologically closed basin in north central Nevada. Previous work by the United States Geological Survey (“USGS”) found anomalous concentrations of lithium in the playa. The Property has been characterized to contain saline alkaline fluids at depth and there is direct geothermal fluid input into the basin with geothermal energy production potential. See figure 1.
A graphic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/49dfb3a9-7bfd-4855-a971-8218d2b5bdad
ECV is strategically located two hours east of the Tesla Gigafactory and 2.5 hours north of Albemarle’s Silver Peak operation in Clayton Valley. There is direct highway access, power, and the Property is located near the towns of Fallon and Austin.
Lithium brines in the region are known to accumulate in valleys with the following characteristics:
- An arid climate
- Hydrologically closed basin with a playa
- Tectonically driven basin development
- Associated geothermal activity
- Surrounding felsic rhyolite potential source rocks
- One or more adequate aquifers
- Sufficient geologic time to concentrate a brine
All these conditions are met within the Edwards Creek Valley (ECV). See figure 2.
A graphic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/48d28b73-0e10-4ba8-ac30-310c6ffcb135
The adjacent Smith Creek Valley has been explored with results of up to 470 ppm lithium in surface sampling of the salt flats surrounding hot springs. Smith Creek Valley is located at the front of its mountain range that is shared with ECV (source: The Nevada Mineral Industry, Nevada Bureau of Mines, Special Publication MI-2017). The Smith Creek Valley Project is being advanced by Iconic Minerals Limited. Furthermore, ECV is surrounded by felsic tuffs that could be potential source rocks for lithium, like found on the periphery of Clayton Valley.
Note that the vicinity or similarity of ECV to properties located in Clayton Valley or Smith Creek Valley does not guarantee that mineral resources or reserves will be defined at ECV.
In related news, as part of its commitment to effective governance, Ameriwest is pleased to announce the appointment of Melissa Vettoretti to the position of Corporate Secretary. Vettoretti brings extensive experience in this important role for several publicly listed companies and replaces Mr. Sam Eskandari who continues to serve on the Company’s board.
Ameriwest invites interested stakeholders and shareholders alike to contact our investor relations team or visit our website and sign-up for regular news alerts which will help provide timely updates of ongoing activities. Company management believes strongly in regular communications, updates, and reports from the field, as an important aspect of developing informative and useful engagement as the Company continues to help explore and develop the exciting and rapidly evolving lithium sector.
On Behalf of the Board of Directors,
David Watkinson
President and Chief Executive Officer
For further information, please contact:
Invictus Investor Relations
Tel: +1 (60)4 343-8661
info@ameriwestlithium.com
https://ameriwestlithium.com/
About Ameriwest Lithium Inc. (CSE: AWLI) (OTC: AWLIF) (FSE: 5HV0)
Ameriwest Lithium Inc. is a Canadian-based exploration company with a focus on identifying strategic lithium mineral resource projects for exploration and development. The Company is currently focused on exploring Nevada’s Deer Musk East property, located in the prolific Clayton Valley, totalling 5,600 acres, the Railroad Valley property, totalling 6,200 acres and Edwards Creek Valley totalling 16,940 acres. Additionally, Ameriwest’s current resource portfolio includes the ESN Project, located in White Pine County, Nevada, and the Koster Dam property, located in the Clinton Mining Division of British Columbia, in which Ameriwest has a 45% interest.
For more information visit: https://ameriwestlithium.com/.
Caution Regarding Forward-Looking Information
Certain statements contained in this news release may constitute forward‐looking information. Forward‐looking information is often, but not always, identified by the use of words such as “anticipate”, “plan”, “estimate”, “expect”, “may”, “will”, “intend”, “should”, and similar expressions. Forward‐looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking information. The Company’s actual results could differ materially from those anticipated in this forward‐looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company’s strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward‐looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. Any forward‐looking information contained in this news release represents the Company’s expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward‐looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
The Canadian Securities Exchange has not in any way passed upon the merits of the matters referenced herein and has neither approved nor disapproved the contents of this news release.
