Stated Hugh Aird, CEO and President of American Lithium Minerals, "The importance of the U.S. Government’s commitment to the domestic production of lithium could not be more evident than in the fact that the Chemetall Foote, Clayton Valley facility was recently awarded $28.4 million dollars in stimulus funds for the production of lithium materials for advanced transportation batteries."
Mr. Aird continued, "Three of these newly acquired properties, along with our 16,000 acres in Montezuma Valley (which borders Clayton Valley) are all in the immediate geographic vicinity of the Chemetall Foote facility and are topographically consistent as well. All of these properties have shown extremely high ppm lithium results in sampling tests and are terrific additions to our growing portfolio of properties."
The Sarcobatus Deep Project is located 35 miles south of Chemetall Foote’s Lithium Brine Operation at Clayton Valley. The Project consists of 2,100 acres centered on the gravity low for the basin. Sampling of playa in the Sarcobatus Basin has identified anomalous lithium values of 280 to 340 ppm lithium.
The Teels Marsh Deep Project is 4,800 acres located 40 miles northeast of Chemetall Foote’s Lithium Brine Operation at Clayton Valley. Sampling in Teel Marsh has identified anomalous lithium values of up to 550 ppm lithium in the playa and 850 ppm lithium in the springs.
The Fish Lake Deep Project is located 25 miles west of Chemetall Foote’s Lithium Brine Operation at Clayton Valley. The Project consists of 3,640 acres centered on the gravity low for the basin. Sampling at Fish Lake has identified anomalous lithium values of up to 1020 ppm lithium in the playa and 350 ppm lithium in the surface brines.
The Paradox Project in Utah is 1,220 acres located 5 miles northwest of the Intrepid Potash Solution Mine. Artesian brines in this area contain up to 1700 ppm lithium.
As a result of lithium-ion battery demand for hybrid-electric and electric cars, the increase in demand for lithium carbonate is expected to increase four-fold by 2017. High demand and low supply has already pushed lithium carbonate (Li2CO3) prices to US$6,600.00 per ton. There is currently only one producer of lithium carbonate in the United States: Chemetall’s Clayton Valley Operation. The Great Basin of the United States represents excellent potential for the discovery of new lithium brine deposits and American Lithium Minerals is well positioned for detection with both its current and four newly acquired projects.
Lithium is used for batteries, specialty glass, lubricants, pharmaceuticals and lithium alloys. Lithium ion (Li-ion) batteries have become the rechargeable battery of choice in cell phones, computers, hybrid and electric vehicles and electric cars. GM, Ford, Toyota, Dodge, Chrysler, Mitsubishi, Nissan, Tesla, Saturn and Mercedes-Benz have all announced plans to build Li-ion battery-powered cars.
Demand for lithium-powered electric vehicles is expected to increase fivefold by 2012. The domestic automotive industry must secure a lithium source to supply the next generation of hybrid-electric and electric vehicles. Over 60% of cell phones and 90% of laptops use lithium batteries. The worldwide market for lithium batteries is estimated at over $4 billion per year.