VANCOUVER, BC, June 26, 2024 (GLOBE NEWSWIRE) — AMERICAN SALARS LITHIUM INC. (“AMERICAN SALARS” OR THE “COMPANY”) (CSE: USLI, OTC: ASALF, FWB: Z3P, WKN: A3E2NY) announces it has received confirmation that the ALS Geochemistry Laboratory in Reno Nevada has received 121 samples collected from the Company’s 100% owned Black Rock South Lithium Brine Project, located 11 miles north of the “Galt” claim group under option to Surge Battery Metals (CSE: NILI). Samples will be processed using Boyd RSD rotary crushers and splitter with a 180-micron (80 mesh) sieve, aqua regia digestion, and 41 multi-element ICP-AES analysis (code ME-ICP41).
Black Rock South Highlights
- 58 soil samples were collected across and around the Black Rock South property
- Land Research was completed in the vicinity of the property
- 63 prospecting samples were collected
The Company’s global lithium portfolio consists of two advanced lithium resources in Argentina and our advancing USA lithium asset in Nevada.
About Candela II Lithium Deposit
The Candela II Lithium deposit is on the southern and lowest end of the Incahuasi Salar, located in the Province of Salta, Argentina. Candela II is situated approximately 45 kilometers from town of Tolar Grande, 267 kilometers from Salta, and close in proximity to advanced and renowned lithium salars such as Arizaro (Lithium Chile) and Pocitos (Hanaq). Volcanoes Cerro Aracar, Medina and Pular contribute lithium to the Incahuasi salar through aquifers.
Figure 1. Road on Candela II Lithium Brine Project 2022 (Salta, Argentina)
The Candela II Lithium Brine Project contains a National Instrument 43-101 mineral resource estimate (“MRE”) completed by WSP Australia Pty. Ltd. (see Spey Resources Corp. news dated September 26th, 2023). This NI 43-101 resource report estimates the project to contain lithium metal of 86,000 tonnes which equates to 457,500 tonnes of in-situ lithium carbonate equivalent (LCE) and a lithium yield of 48,000 tonnes of LCE from 9,000 tonnes of lithium metal. The calculations assume no losses from lithium metal and a porosity average that will be updated in the next drilling phase.
About Pocitos 1 Lithium Deposit
WSP Australia completed an update of the NI 43-101 report initially written by Phillip Thomas QP in June 2023 and estimated on an inferred basis using a block model with 6% and 14% porosity for the clay and sand lithologies respectively and a Mineral Resource Estimate (“MRE”) of 760,000 tonnes of Lithium Carbonate Equivalent (“LCE”) on the combined Pocitos 1 (800 Ha) and neighbouring Pocitos 2 block (532 Ha). American Salars does not own the neighboring Pocitos 2 ground which comprises 40% of the gross land package that makes up the resource however it is notable that all drilling to date has been completed on American Salars’ Pocitos 1 block.
Image 2. Drilling at Pocitos 1 Lithium Brine Project (Salta, Argentina)
The Pocitos 1 project is located approximately 10 kilometers from the township of Pocitos where there is gas, electricity, and accommodation. Pocitos 1 is approximately 800 hectares (1,977 acres) and is accessible by road. Collective exploration since 2017 totals over US$2.0 million in project development, including surface sampling, trenching, TEM and MT geophysics and the drilling of three wells that returned outstanding brine flow results. Locations for immediate follow up drilling have already been identified for upcoming exploration based on the most recent MT survey.
Lithium values of 169 ppm from drill hole PCT22-03 packer test assayed from laboratory analysis conducted by Alex Stewart were recorded during the project’s December 2022 drill campaigns. A packer sampling system was used in HQ Diamond drill holes that were drilled to a depth of up to 409 metres. The flow of brine was observed to continue for more than five hours with all holes exhibiting exceptional brine flow rates. An NI 43-101 updated report completed by WSP Australia has been released on the Pocitos 1 project.
Ekosolve Ltd. a DLE technology company was able to produce 99.8% purity lithium carbonate and extraction was above 94% of the contained lithium in the brine i.e. 158.86ppm of lithium would have been recovered from 169ppm.
About Black Rock South Lithium Brine Project
The Black Rock South Lithium Brine Project is located 72 Miles North of the Tesla Gigafactory, 93 Miles Southwest of Thacker Pass, and 215 miles Northwest of the United States’ only producing lithium mine, the Silver Peak lithium brine mine owned by Albermarle Corporation. The claims cover a conceptual target for lithium brines which is very similar to the published geology of the Clayton Valley lithium brine production area approximately 200 miles to the Southeast. The concept is consistent with generally accepted data and theories about the formation of lithium brine resources. The target area is lithium – brines hosted in basin-fill sediments.
Image 3. Black Rock South Lithium Brine Project proximity to Tesla Gigafactory and America’s only producing lithium mine, Silver Peak.
Figure 4. Black Rock South Lithium Brine Project during 2024 ground exploration
American Salars CEO & Director R. Nick Horsley states, ““We are eagerly awaiting the results of our Black Rock South Phase 1 sampling program and will be utilizing this data for the planning of an upcoming Phase 2. The advancing Nevada based Black Rock South project compliments our established and growing lithium resources in Salta, Argentina. The Company continues to see strong M&A and strategic funding announcements across the Lithium sector. American Salars and our expanding team of lithium experts believe now is the time to acquire lithium resources, which will position our shareholders for the coming green era.”
The company has also retained MIC Market Information & Content Publishing GmbH Gerhart-Hauptmann-Str. 49B,51379 Leverkusen, NRW, Germany to assist with a European marketing awareness program to commence on June 28, 2024, at a cost of 125,000 euros per month and can extend up to 6 months. The CEO of MIC Market Information & Content Publishing GmbH is Christina Hammer. The company deals at arm’s length with MIC Market Information & Content Publishing GmbH. As of the date hereof, to the company’s knowledge, MIC Market Information & Content Publishing GmbH as compensation for its marketing services.
Additionally, has engaged Free Market Media Ltd. of 9007 204 St. Langley, BC, V1M 1A9, Canada, to provide corporate communications, marketing, and web services to the Company. Free Market will setup online advertising portals in which American Salars will pay directly at cost for the advertising . Free Market will be retained on a month-to-month basis and commence immediately (subject to Canadian Securities Exchange approval date) to assist the Company in raising awareness. In consideration for the marketing services provided by Free Market, the Company has agreed to pay a fee of $2,500 to its principal. The Company will pay directly for advertising expenses which will initially be up to $200 per day during the testing phase and may scale up to $50,000 per month should the Company deem this to beneficial. To the Company’s knowledge Free Market’s principal owns 15,000 shares in American Salars Lithium Inc. Free Market Media Ltd is owned by Brenton Rusin and has a PIF filed with the Canadian Securities Exchange for Investor Relations Services.
Qualified Person
Phillip Thomas, BSc Geol, MBusM, FAusIMM, MAIG, MAIMVA, (CMV), a Qualified Person as defined under NI 43-101 regulations, has reviewed the technical information that forms the basis for portions of this news release, and has approved the disclosure herein. Mr Thomas is a shareholder of American Salars lithium shares.
About American Salars Lithium Inc.
About American Salars Lithium Inc. American Salars Lithium Inc. is an exploration company focused on exploring and developing high-value battery metals projects to meet the demands of the advancing electric vehicle market. The Company the Pocitos 1 and the Candela II Lithium Salar Projects in Argentina which feature a NI 43-101 inferred resource.
All Stakeholders are encouraged to follow the Company on its social media profiles on LinkedIn, Twitter, TikTok, Facebook and Instagram.
On Behalf of the Board of Directors,
“R. Nick Horsley”
R. Nick Horsley, CEO
For further information, please contact:
American Salars Lithium Inc.
Phone: 604.880.2189
E-Mail: [email protected]
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding American Salar’s intention to continue to identify potential transactions and make certain corporate changes and applications. Forward looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits American Salars will obtain from them. These forward-looking statements reflect managements’ current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including American Salars results of exploration or review of properties that American Salars does acquire. These forward-looking statements are made as of the date of this news release and American Salars assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws. American Salars’ management cautions that past results or discoveries on properties in proximity to American Salars may not necessarily be indicative of the presence of mineralization on the Company’s properties.
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