American Lithium Corp. (TSXV: LI | NASDAQ: AMLI | Frankfurt: 5LA1) has announced a new lithium discovery from an initial drill hole completed at one of the company’s key discovery targets previously identified from 2021 field work conducted near the community of Quelcaya.
Further holes have been drilled near this discovery with identical geology to the discovery hole and full assays expected shortly.
The Quelcaya exploration project comprises three areas of mapped surface lithium mineralization located 5.5 to 11km west of the company’s Falchani lithium deposit near the village of Quelcaya in Puno, southeastern Peru.
Quelcaya was the first of three exploration drilling permits submitted by the company, which was granted by the Peruvian Ministry of Energy and Mines (MINEM) in May 2023. Drilling continues in and around Quelcaya with six drill hole platforms planned in total, each with multiple holes.
The company has stated that it now believes there is now a large lithium district emerging on West side of Macusani Plateau. There is the presence of a large-scale lithium mineralized zone 222.5m thick, averaging 1,560ppm Li at 119.1m downhole; maximum 1m interval sample with up to 2,668ppm Li at 335m.
The company has also reported the presence of cesium grades typically higher than average cesium grades in the main lithium bearing mineralization at Falchani with similar potassium grades. Additionally different style of mineralization from Falchani with significant potential for pre-concentration; initial metallurgical work highlights potential to increase head-grade through standard techniques. Further metallurgical work on pre-concentration and leachability continues.
Simon Clarke, CEO of American Lithium, states, “We are very excited with this discovery drill hole at Quelcaya. The lithium mineralization is in rocks that are texturally and geologically distinct from the Falchani tuff mineralization but are obviously related to the same 8M-year-old volcanic activity responsible for Falchani. The potential scale of this area of lithium mineralization is very large given the thickness seen in the discovery hole. The potential to pre-concentrate the lithium in this style of mineralization is also very encouraging as we start to analyze the leachability and economic potential. This discovery also validates our thesis that the Macusani Plateau hosts more than just the Falchani lithium deposit and has the potential to become a major lithium district, which we control.”
To read more about this, please visit www.americanlithium.com
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