- American Lithium (LI) has acquired the Crescent Dunes Project in Nevada, adding 3,886 acres with up to 2,361 ppm Li at surface
- Total consideration was 2,500,000 American Lithium common shares
- The company intends to launch additional fieldwork, including initial drilling, as soon as practicable during fall 2021
- American Lithium is engaged in the acquisition, exploration and development of lithium projects throughout the Americas
- American Lithium (LI) is down by 5.88 per cent and is currently trading at $2.56 per share
American Lithium (LI) has acquired the Crescent Dunes Project in Nevada, adding 3,886 acres with up to 2,361 ppm Li at surface.
The company acquired the outstanding share capital of Big Smoky Holdings, which controls the Crescent Dunes Project, through the issuance of 2,500,000 common shares.
The project carries no royalties or other encumbrances.
Like its neighbour to the south, the Tonopah Lithium Claims, Crescent Dunes’ claystone mineralization includes visible organic carbon associated with elevated Li content.
Historical exploration at Crescent Dunes on the 120 m Trench A encountered claystone stratigraphy with Li contents ranging from 239 ppm to 2,361 ppm with an average of 800 ppm.
Trench B samples ranged from 121 to 2,012 ppm Li and averaged 405 ppm Li.
A total of 84 auger samples were also completed along reconnaissance lines with a maximum of 1,482 ppm Li.
American Lithium intends to launch additional fieldwork, including initial drilling, as soon as practicable during fall 2021.
Simon Clarke, CEO of American Lithium, commented,
“The Crescent Dunes acquisition adds further highly prospective exploration acreage to the TLC Project, which will now essentially cover the bulk of known shallow claystone geology in our basin. The occurrence of a sequence of higher-grade lithium-bearing claystones above 2,000 ppm Li at surface is very encouraging, especially because at TLC such grades were only encountered in drilling. We look forward to further exploration and drill testing, on what will become TLC North, to build on the encouraging recent historical results.”
American Lithium is engaged in the acquisition, exploration and development of lithium projects throughout the Americas.
American Lithium (LI) is down by 5.88 per cent and is currently trading at $2.56 per share as of 1:45 pm ET.
