Key Highlights
- American Lithium updated the Macusani Uranium Project mineral resource estimate in Peru.
- Measured and indicated resources total 57.16 million pounds of U3O8, plus 65.32 million pounds inferred.
- The company said an updated preliminary economic assessment is underway using a US$100/lb uranium assumption.
American Lithium Corp. (TSX-V: LI | OTCQX: AMLIF | Frankfurt: 5LA1) has published an updated mineral resource estimate for its Macusani Uranium Project in southeastern Peru, increasing the share of the resource classified as measured and indicated.
The company reported measured resources of 10.482 million tonnes at 179 parts per million (ppm) U3O8, totaling 4.13 million pounds of U3O8. Indicated resources were reported at 111.426 million tonnes at 216 ppm U3O8, totaling 53.03 million pounds. Inferred resources were reported at 114.873 million tonnes at 258 ppm U3O8, totaling 65.32 million pounds.
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Updated estimate and assumptions
American Lithium said the updated estimate was prepared using parameters intended to demonstrate reasonable prospects for eventual economic extraction. It used a long-term uranium selling price assumption of US$100 per pound of U3O8, which the company said resulted in an open-pit constrained cut-off of about 47 ppm uranium and an underground cut-off of about 111 ppm uranium.
The company contrasted this with the historical mineral resource estimate, which it said used a global 75 ppm uranium cut-off, 2015 cost assumptions and a US$50 per pound U3O8 selling price assumption.
American Lithium also said the revised estimate reflects mineral resource reporting practice changes introduced in 2020, including stricter pit- and stope-constrained reporting, and that differences versus the 2015 estimate reflect updated reporting requirements and economic constraints rather than changes to the underlying geological model.
Next steps and technical work
American Lithium said work on an updated preliminary economic assessment is underway, incorporating current uranium pricing and development costs. The company also outlined plans for expansion and infill drilling, metallurgical piloting and, ultimately, a pre-feasibility study.
The updated mineral resource estimate was completed by a Deloitte Consulting (Pty) Ltd qualified person and is described as effective July 1, 2026. American Lithium said it expects an NI 43-101 technical report to be filed on SEDAR+ within 45 days.
The company noted that mineral resources are not mineral reserves and do not have demonstrated economic viability, and that there is no certainty any mineral resource will be converted into a mineral reserve.
The original press release is available on stockhouse.com
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