VANCOUVER, British Columbia, March 10, 2022 (GLOBE NEWSWIRE) —(“Ameriwest” or the “Company”) ( ) (OTC: AWLIF) (FSE: 5HV0), a North exploration and development company, is pleased to announce that Zonge International Inc. (“Zonge”) has completed a Phase 2 Magnetotelluric geophysical survey (the “MT Survey”) on its Railroad Valley Property, Nevada (“RRV” or the “RRV Property”).
MT Surveys respecting the RRV Property
The results of the MT Survey, incorporating both Phase 1 and Phase 2 results, demonstrate the potential for Ameriwest’s RRV Property to host a large lithium brine deposit, subject to exploration success.
The entire gravity low spans an area of about three miles (five kilometres) in width by six miles (ten kilometers) in length. The Phase 1 and Phase 2 MT Surveys consisted of four east-west lines cross cutting the southern half of the large gravity low, as shown in Figure 1 below. Lines were located at 424000N, 4241000N, 4241950N, and 4243150 N.
Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/18082928-5446-4b57-bd7b-03a3e3dae4d2
As announced in Ameriwest’s February 16, 2022, press release, the Company has staked 462 claims at RRV and acquired 224 claims from American Battery Technology Corporation (“ABTC”) (OTCQB: ABML) to the north, to now hold an aggregate of 686 claims totalling 13,580 acres (5,500 hectares). The Company effectively controls the area covering the gravity low.
Figure 2 below shows the results of the MT survey for Line 4243150N, which is located at approximately the centre of the gravity low shown in Figure 1. The deeper colours show the location of a resistivity low (or conversely a conductivity high), which represent a potential brine target. Note that no lithium resources or reserves have yet been delineated on the RRV Property and drilling will be required to confirm 1) the presence of a brine and 2) lithium or other valuable metals in the brine. The depth of the target ranges from about 1,000 feet (300 meters) below surface to about 6,200 feet (1,600 meters) below surface. Lines 4241950N, 4241000N and 424000N (going from the north to the south), shown in Figures 3, 4, and 5 below, illustrate a similar brine target decreasing is size to the south, as expected based on the gravity low decreasing in width to the south at the same time.
Figure 2 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2ceaee10-50fd-4725-8ac9-f0173fdb23e3
Figure 3 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/85b2154f-17c4-484c-8bce-c94428c02114
Figure 4 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a3556895-d513-4caa-8d50-26f1db8bf9ed
Figure 5 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/65d43aae-be3e-4954-bddb-fee4b5359061
Zonge’s scope of work has now been expanded to add two additional lines to the north of the four current lines, to cover the claims acquired from ABTC.
Ameriwest is taking a systematic and incremental approach to exploration at RRV. This includes:
- Gravity geophysics (complete);
- Perfection of the RRV Property package (in progress);
- Magnetotelluric (“MT”) geophysics (in progress);
- Seismic analysis (in progress);
- Combined 3-D modelling of the gravity, MT and seismic data; and
- Permitting and drilling of a discovery diamond core hole to determine the presence of a lithium brine.
In Railroad Valley information from historic oil and gas drilling, including seismic work, is available. Ameriwest has acquired some seismic data to date and is in the process of acquiring additional data to cover the expanded RRV Property. Once the data acquisition is complete, the Company plans to complete 3-D modelling and locate a discovery diamond core hole, complete permits and drill, tentatively, in the summer or fall. The primary hurdle for scheduling will be availability of a drill.
Technical aspects of this news release have been reviewed and approved by David Watkinson, P.Eng.; a Qualified Person (QP) under National Instrument 43-101; who is the President and CEO of the Company.
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,
President and Chief Executive Officer
About( ) (OTC: AWLIF) (FSE: 5HV0)
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 its 13,580-acre Railroad Valley property, the 22,210-acre Edwards Creek Valley, and the 5,600-acre Deer Musk East property in Nevada. In addition, the Company is exploring the 2,860-acre Thompson Valley property in Arizona.
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.
Marvel Discovery $MARV.V – An Exciting #Gold, #uranium, #copper, #nickel, #PGE, #REE & (Possibly) #LITHIUM Play
It’s been a terrible year for junior mining stocks. Hell, it’s been a terrible year for bonds, cryptocurrencies & industry-leading tech stocks…
Seahawk Gold Corp Engages North Equities Corp.
Vancouver, British Columbia–(Newsfile Corp. – October 13, 2022) – Seahawk Gold Corp. (CSE: SEAG) (OTCQB: SEHKF) (FSE: 7SR) (the "Company" or "Seahawk")…
Westmount Executes Otatakan and Pilot East, Ontario Lithium Property Agreements
Westmount Minerals is pleased to announce it has executed property option agreements for two prospective lithium claim groups…
Diamond Results from this Year’s Delineation Drilling, Sequoia Kimberlite Complex, NT
Nation Gold Announces Election of Mr. Craig Taylor to the Board of Directors
Solaris Reports 108m of 1.20% CuEq From Near Surface, Continues to Expand ‘Indicative Starter Pit’ at Warintza Central
Kodiak Discovers New Gold-Silver “Beyer Zone” at MPD Project within 2.2 Kilometre Gold-in-Soil Trend
Brunswick Exploration Increases Position in James Bay With PLEX Project Option
Noble Minerals Discovers Rare Earth Mineralization on the Nagagami Project, Hearst, Ontario
IIROC Trading Halt – ACI.H
Prismo Metals Announces Brokered Private Placement of Units for Gross Proceeds of up to $3,016,000
Amex Receives International Recognition – Accepts Exploration Company of the Year Award at Mines and Money, London
Gitennes’ JMW Gold Property Diamond Drilling Commences, Chapais-Chibougamau Area, Quebec
Uncategorized17 hours ago
US Futures Drop As Chinese Stocks Soar On Reopening Optimism
News Releases10 hours ago
Eldorado Gold Releases Updated Mineral Reserve and Mineral Resource Statement; 2022 Gold Reserves of 12.3 million ounces and M&I Gold Resources of 19.2 million ounces
Precious Metals16 hours ago
Is Now a Good Time to Buy Silver or #Gold?
News Releases19 hours ago
Fission 3 Announces C$5 Million Bought Deal Private Placement at a 45% Premium to Market
Companies20 hours ago
Marimaca Reports Further Positive Higher-Grade Results from Northern MOD Infill Drilling
Companies18 hours ago
Diamond Results from this Year’s Delineation Drilling, Sequoia Kimberlite Complex, NT
Financing News18 hours ago
Global Energy Metals Announces Partner Funded Exploration at Millennium Exceeds $1 Million; Metal Bank to Move to Stage 2 Earn-In by Spending Additional $2 Million and Issue Shares to the Value of $350,000
Financing News12 hours ago
Heliostar to Acquire a 1.4M Ounce, Permitted Gold Deposit and Option Another 1.7M Ounce Gold Deposit in Mexico