The Quitclaim Deed of the unpatented Clayton Deep placer mining claims was made effective on July 21, 2010 when signed by Robert Craig as agent and on behalf of Nevada Alaska Mining Co., Inc., a Nevada Corporation, Barbara Anne Craig, Elizabeth Dickman and Robert Craig ("Grantor"), and AmeriLithium Corp. ("Grantee").
The deed assigns forever Grantor’s right, title and interest in and to each unpatented placer mining claim situated in Esmeralda County, Nevada, CD # 1 thru CD # 66, BLM NMC Nos. 1022861 – 1022926, respectively, and all amendments and relocations of the unpatented mining claims; together with all the ores, brines, earth or other mineral deposits, and in and to all of the rights, privileges, franchises, tenements, hereditaments and appurtenances belonging or appertaining to the unpatented placer mining claims, including all after acquired title.
According to the agreement, Grantor retains a 2% Net Smelter Royalty (NSR) with said Royalty subject to a buyback by Grantee for $500,000 for 1% of the NSR, with 1% NSR not subject to a buyback.
"Yet another milestone for the Company," commented AmeriLithium’s Chief Executive Officer, Matthew Worrall. "Strategic property acquisition is the key to any mining company’s success. And finalizing the acquisition of the Clayton Deep properties brings AmeriLithium one step closer to our goal of developing into one of the leading American players in the global Lithium industry."
AmeriLithium’s domestic Clayton Deep Lithium brine project represents a 5,280-acre (8.25 square mile) claim block covering the entire Southwest Gravity Low in Clayton Valley, Nevada. Lithium-rich brines and evaporates have been accumulating in the Clayton Valley playa for more than 30,000 years, resulting in the highest Lithium content found in any brines tested by the US Geological Survey (USGS) in southwestern US playas and basins(1).
The Clayton Deep project’s placer claims lie less than 10 miles southwest of the only US-based Lithium producing plant, operated by Chemetall Foote Corporation, a subsidiary of Rockwood Holdings, Inc. The plant has been in production since 1967, producing an estimated 50 million kg (55,000+ tons) of Lithium to date from the region’s rich brines(2). Chemetall’s exploration of the area immediately around the plant extends to within less than one mile of the northeast corner of AmeriLithium’s Clayton Deep holdings(3).
AmeriLithium’s Southwest Low is a viable size Lithium brine exploration target, covering approximately 2,200 acres or 3.4 square miles; in comparison, Chemetall Foote’s Lithium brine recovery wells located less than 10 miles to the northeast have operated on only 2 square miles and have been producing continuously for 43 years.
Lithium is a lightweight metal used in a wide range of consumer products the world over: the medical industry uses Lithium as an anti-depressant; industrial uses include glass, ceramic and porcelain enamel manufacture; the aviation industry uses Lithium in alloys. Of particular interest is the use of Lithium for battery production, which has expanded significantly in recent years due to rechargeable Lithium batteries being used increasingly in electrical tools and in the rapidly expanding portable electronics market.
Furthermore, the next generation of hybrid and electric vehicles are being designed to use high-capacity Lithium-ion batteries as environmentally-friendly fuel alternatives while the Obama administration has introduced $5 billion in funding and incentives for the development of a secure, domestic battery industry with special focus on Lithium-ion batteries.
AmeriLithium is a publicly traded (NASD OTC BB: AMEL), mining company committed to progressively developing into one of the leading American players in the global Lithium industry. The Company is headquartered in Henderson, NV. AmeriLithium has amassed a Lithium portfolio consisting of ~724,000 acres, including three Nevada-based projects nearby the only Lithium producing plant in the US, a large project in Alberta, Canada, and a project in Western Australia.