The additional data interpretation was requested after small anomalies were discovered in the previously completed report. This report is currently being updated to incorporate the additional findings and will be released on week beginning September 13, 2010.
"The previously recovered data was originally omitted from the report as it was seen to be insignificant. It is only as a result of due diligence being carried out by both our Chief Geologist, Robert Allender, and the combined team of GeoXplor and Hasbrouck Geophysics, Inc. that we have re-evaluated the data to reveal this significant target location," commented Matthew Worrall, AmeriLithium’s Chief Executive Officer. "It is extremely significant to AmeriLithium’s future that we have such a great team on hand. The re-evaluation of this data has not only found another area of significant potential, but it will also allow us to amend our impending drilling program to incorporate the findings."
SIGNIFICANT ADDITIONAL FINDINGS
The additional data was reviewed by Jim Hasbrouck of Hasbrouck Geophysics, Inc. and Robert Allender, AmeriLithium’s VP of Exploration and Chief Geologist, who made the following observations: "Further interpretation of the recently acquired gravity data in the southern end of the Paymaster property confirms a significant bedrock depression clearly connected to the main Clayton Valley sedimentary basin. The gravity data, considered in conjunction with the EM survey results indicate that lithium-bearing brines are present in this area. The geophysical investigations clearly show that the south end of the Paymaster property encompasses part of the northeastern Clayton Valley playa."
PAYMASTER SURVEY DETAILS
The additional geophysical work was carried out to supplement the data acquired from the initial Gravity Survey that was completed on May 5th, 2010. The report from the previous Gravity Survey, dated May 26, 2010 can be found on the companies corporate website. http://www.amerilithium.com. The purpose of the additional survey was to map bedrock depths in an area omitted from the previous Gravity Survey. The surveys purpose is to show increased bedrock depths or lower bedrock elevations. These areas may be conducive for concentration of lithium-bearing brines.
PAYMASTER PROJECT BACKGROUND
AmeriLithium’s domestic Paymaster Project represents a 5,880-acre claim block adjacent to the Clayton Valley playa, where Lithium-rich brines and evaporates have been accumulating 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)
Clayton Valley is home to the only US-based Lithium producing plant, operated by neighboring 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.
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.