Canada Markets closed
  • S&P/TSX

    20,928.10
    +108.16 (+0.52%)
     
  • S&P 500

    4,471.37
    +33.11 (+0.75%)
     
  • DOW

    35,294.76
    +382.20 (+1.09%)
     
  • CAD/USD

    0.8086
    +0.0001 (+0.0065%)
     
  • BTC-CAD

    75,335.59
    +476.42 (+0.64%)
     
  • CMC Crypto 200

    1,464.06
    +57.32 (+4.07%)
     
  • GOLD FUTURES

    1,768.10
    -29.80 (-1.66%)
     
  • RUSSELL 2000

    2,265.65
    -8.52 (-0.37%)
     
  • 10-Yr Bond

    1.5760
    +0.0570 (+3.75%)
     
  • NASDAQ

    14,897.34
    +73.91 (+0.50%)
     
  • VOLATILITY

    16.30
    -0.56 (-3.32%)
     
  • FTSE

    7,234.03
    +26.32 (+0.37%)
     
  • NIKKEI 225

    29,068.63
    +517.70 (+1.81%)
     
  • CAD/EUR

    0.6966
    -0.0001 (-0.01%)
     
LATEST UPDATE:

NO WEEKLY BRIEF NEWSLETTER FOR THE WEEKEND OF OCT. 16-17

Ameriwest Lithium Awarded Lithium Clay Rights in Arizona

  • Oops!
    Something went wrong.
    Please try again later.
·6 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

VANCOUVER, British Columbia, Sept. 28, 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 been awarded seven exploration permits by the Arizona State Land Department to allow the Company to explore for prospective lithium-bearing clays located on lands in west-central Arizona. The property totals nearly 2,859 acres (1,157 hectares) in Yavapai County. Ameriwest refers to the prospect as the Thompson Valley Hectorite Deposit (“Thompson Valley” or the “Property”).

David Watkinson, President and CEO of Ameriwest stated, “We are pleased to make this, the fourth of a series of lithium exploration properties recently staked by the Company in the United States. This deposit represents prospective lithium sedimentary mineralization with surface or near-surface exposure of lithium-bearing clays, with historic grades reported as comparable to those found in similar sedimentary deposits found in Clayton Valley, NV. Ameriwest’s technical team has put together a series of high-quality exploration properties in an extremely short period of time and each of these properties holds promise for the discovery of lithium and, with exploration success, the potential delineation of mineral resources.”

Surface clay deposits were initially discovered in the area in the mid-1950’s by Joseph Lyles and became known as the “White Hills” deposits. The deposits contain bentonite (montmorillonite) and hectorite clays. The deposits have also been sampled historically and are known to contain lithium. Exploration data from the 1960’s shows lithium content of the bentonite ranges from 0.3 to 0.5% Li2O (1,400 to 2,300 ppm Li), which is similar to the lithium contents for other lithium-clay projects located further north in Arizona (Source: Lithium Bearing Bentonite Deposit, Yavapai County, Arizona, J. J. Norton, Geology Survey Research, 1965). Note that these are historic samples taken prior to the implementation of National Instrument 43-101 (“NI 43-101”), QA/QC procedures are unknown, and Ameriwest’s geologists cannot verify the results. The results do indicate the presence of lithium and warrant the need for additional exploration to evaluate the deposits.

Mining operations in the area began in 1985 at the adjacent Lyles Hectorite Mine and it was reported that a few truckloads of the white clay were shipped per year for limited use as a viscosifier for cosmetics and pharmaceuticals. The mine is currently owned and operated by Vanderbilt Minerals, LLC, a subsidiary of R.T. Vanderbilt Holding Company, a private industrial minerals and chemical company that has operated since 1916 and produces and sells industrial minerals and chemicals on a world-wide basis.

The Lyles Mine is located on a State mineral lease adjacent to Ameriwest’s lithium’s mineral leases and exploration permits. The deposits are shallow, occurring at or near surface, perhaps under a sandy or hard caliche layer. It has been reported that the overall clay sequence is 70 feet (21 m) thick, containing a hectorite bed with a thickness ranging from 8 to 35 feet (2.4 to 11 m). This is supported by an older reference that indicates a thickness of over 40 feet (12 m) as a relatively uniform deposit over the area. Note that the vicinity of Ameriwest’s Property adjacent to the Lyles Mine does not guarantee exploration success or that mineral resources or reserves will be defined. No mineral resources or reserves have yet been delineated on the Property.

Ameriwest will be moving towards a field exploration program of geologic mapping and surface sampling to better define the extent and grade of the deposit. The location has good access and is not far from State Highway 93. A county road passes directly through the prospect in an area known as Thompson Valley. The lands are 120 miles (190 km) north of Phoenix, and a large copper mine is found near Bagdad, AZ 35 miles (56 km) to the northwest.

Greg Bell, P.E. (Arizona), a qualified person under the NI 43-101 instrument, has reviewed and approved the technical content of this release.

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 (604) 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.


Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting