VANCOUVER, British Columbia, Aug. 20, 2020 (GLOBE NEWSWIRE) -- American Lithium Corp. (TSXV: LI) (OTCQB: LIACF) (Frankfurt: 5LA1) (“American Lithium” or the “Company”) a leading lithium exploration and development operator is pleased to report results from its Draft Baseline Biological Survey Report, produced by EM Strategies of Reno, Nevada, for its flagship Tonopah Lithium Claims (TLC) project near Tonopah, Nevada.
The survey, which examines the project area in detail to document all species present, shows that “No species or habitat protected under the ESA (Endangered Species Act) are present within the project area.” This is a positive development for American Lithium as it suggests the development of TLC can continue and will not be threatening to vulnerable species. Further, it allows for continuation of study and the completion of the Plan of Operation (Environmental Assessment).
Michael Kobler, CEO of American Lithium, states “We are delighted at this biological survey result. Our intention was to produce this work early in the project to avoid any delays or any showstoppers when we were further along. The results of this survey have encouraged us to move forward knowing that since our project doesn’t put any species at risk, we will have a simple path forward towards environmental permitting and project development. Our intention is become a sustainable, environmentally responsible supplier of lithium for the North American battery manufacturing market, and this survey is completely in alignment with that goal. The next step will be the Cultural Survey.”
American Lithium has delivered the Notice to Proceed to EM Strategies to begin the Cultural Survey, which is the next major step in the permitting process.
Chemical Engineer Process Executive Appointed to Board of Directors
American Lithium has appointed Mr. G. A. (Ben) Binninger to its board of directors. Mr. Binninger is a chemical engineer who brings a wealth of experience in technology, processing, senior management and board roles during a career spanning more than 35 years. Ben has held a number of high-profile roles in a variety of sectors including chemicals, mining, energy, materials, environmental and advanced technologies.
Mr. Binninger has direct experience in lithium and related minerals having been CEO of Potash Minerals and a member of the advisory Board of Millennial Lithium. He has also created sophisticated process and services businesses for global leaders including Rio Tinto, ARCO and Hercules.
Ben will provide key strategic and process development guidance for the TLC Lithium Project ("TLC") as it continues to be de-risked and as the need for large-scale, domestic lithium projects becomes more widely recognized.
Mr. Binninger holds an MBA from Harvard Business School, where he attended on a Teagle Foundation Fellowship, and BChE from Manhattan College where he attended on a New York State scholarship.
Mr. Binninger states, “I am thrilled to join the team at American Lithium where my experience and expertise can be most helpful during this stage of accelerating process and plant development. I have strong convictions on the need for domestic lithium production to ensure sufficiency for one of the key metals required for the rapidly growing battery market. I look forward to contributing to success by fulfilling these needs.”
The Company also reports that Andrew Squires, has resigned from the board of directors to pursue other interests. American Lithium is grateful for the contributions of Mr. Squires and wishes him well in his endeavors.
About the TLC Property
The TLC sedimentary lithium discovery is an exploration and development project located 12 kilometres northwest of Tonopah, Nev., and easily accessible by paved highway. Work to date has identified a 5.3-million-tonne measured and indicated lithium carbonate equivalent resource, with an additional 1.7 million tonnes inferred, placing the Company's resource amongst a handful of potential lithium deposits in Western North America capable of development. TLC is near surface, relatively flat-lying and a free-digging lithium sedimentary deposit that the company expects to advance through an early-stage economic study in 2020. Just south of the Crescent Dunes solar energy plant, the project is favourably located for future production given the immediate access to some of the cheapest electricity in Nevada.
About American Lithium Corp.
American Lithium is actively engaged in the acquisition, exploration and development of lithium deposits within mining-friendly jurisdictions throughout the Americas. The Company is currently exploring and developing the TLC project located in the highly prospective Esmeralda lithium district in Nevada. TLC is close to infrastructure, 3.5 hours south of the Tesla Gigafactory, and in the same basinal environment as Albemarle's Silver Peak lithium mine, and several advancing deposits and resources, including Ioneer Ltd.'s (formerly Global Geoscience) Rhyolite Ridge and Cypress Development Corp.'s Clayton Valley project.
The technical information within this news release has been reviewed and approved by Bruce Kienlen, P.Geo., a consultant to the Company and a qualified person under National Instrument 43-101.
Please watch our corporate video at https://www.americanlithiumcorp.com/our-company/ and review our informative short project update videos and related background information at https://www.americanlithiumcorp.com/projects/tlc-nevada/.
For more information, please contact the Company at info@americanlithiumcorp.com or visit our website at www.americanlithiumcorp.com. Follow us on Facebook, Twitter and LinkedIn.
On behalf of the Board,
American Lithium Corp.
Michael Kobler, Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements
Statements in this release that are forward-looking information are subject to various risks and uncertainties concerning the specific factors disclosed here. Information provided in this release is necessarily summarized and may not contain all available material information. All such forward-looking information and statements are based on certain assumptions and analyses made by American Lithium management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include those described under the heading “Risks Factors” in American Lithium's most recently filed MD&A. The Company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information or statements.