HENDERSON, NV, Aug. 21, 2012 /PRNewswire/ — Amerilithium Corp. (OTCQB: AMEL) (“Amerilithium” or the “Company”) is pleased to announce the Company received approved permits from the U.S. Department of the Interior’s Bureau of Land Management (BLM) to drill up to ten holes per property on both the Company’s Jackson Wash and Clayton Deep lithium projects in Nevada. Additional locations are permitted for development of the proposed drill plan, which includes an initial four holes on the Jackson Wash property and an initial three holes on the Clayton Deep property. The drilling locations are based on the findings and recommendations of the Company’s controlled source audio magneto-telluric (CSAMT) survey reports.
The hard copies of the drilling permits were not received until three weeks after their sign-off dates, thereby adding to the overall delay of the drilling process, which was planned to commence earlier in 2012. Despite the drilling program taking longer than expected to begin, Amerilithium continues to move the process along and will initiate drilling as soon as the Company is in a practical position to do so. Toward that end, the Company is currently reviewing tenders it has received for the drill program, and is in the final stages of ensuring the data received would enable the Company to produce a National Instrument 43-101 (Standards of Disclosure for Mineral Projects) compliant report.
Both drilling areas are located in Esmeralda County, Nevada. The drill sites will be accessed from existing roads, unimproved trails and overland travel when necessary. The proposed operations were reviewed by Tonopah Field Office resource specialists who have determined that the operations, as proposed, will not cause unnecessary or undue degradation as defined under 43 CRF 3809.5.
The Jackson Wash and Clayton Deep drilling programs will be added to the Company’s previously permitted and drilled Paymaster lithium project, also located in Esmeralda County, Nevada. The Paymaster drilling program provided promising results from both primary and secondary sampling taken during the drilling of the initial three holes of the Company’s eight-hole drill program. Those results have been used in the development of Amerilithium’s secondary stage Paymaster drilling program, which includes development of two holes initially drilled (DH8 and DH2).
Amerilithium is also currently working on developing a drill program for its Australian lithium assets, which also represent the potential for gold mineralization. The drill program is being based on exploration results previously received, including interpreted results indicating geology that is consistent with Ausgold Limited’s nearby 5-million-ounce Katanning gold discovery. With the help of the Company’s strategic partners, Strategic Resource Management, Amerilithium hopes to finalize the Australian drill program imminently. Details will be released as soon as they are confirmed.
The Company’s Chief Executive Officer, Matthew Worrall, commented: “Now that we finally have the Jackson Wash and Clayton Deep drill permits in hand, we’re that much closer to breaking ground and are almost back on track as originally planned. While some final details still remain to be attended to, our every effort is being directed toward commencing both drill programs in short order.”
More information on the Jackson Wash and Clayton Deep lithium projects, and additional information regarding the Company, can be found at Amerilithium’s corporate website www.amerilithium.com along with the facility to sign up for regular news updates.
Lithium is a lightweight metal used in a wide range of consumer products all over the world: the medical industry uses lithium as an anti-depressant; industrial uses include glass, ceramic and porcelain enamel manufacture; and 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 (AMEL) mining company committed to progressively developing into one of the leading U.S. companies in the global lithium industry. The Company is headquartered in Henderson, NV. Amerilithium has amassed a lithium portfolio consisting of approximately 727,319 acres, including four Nevada-based projects nearby the only lithium producing plant in the U.S., a large project in Alberta, Canada, and a project in Western Australia.
Forward Looking Statements
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
871 Coronado Center Dr., Ste. 200
Henderson, Nevada 89052