American Lithium Corp. (TSXV:LI | NASDAQ: AMLI | Frankfurt:5LA1) has provided financial and operating highlights for the second quarter ended 31 August 2023.
“We continue to make progress across all projects. In Nevada, we enhanced our claystone profile with a strategic investment in Surge Battery Metals and continued flow sheet improvements at TLC as we move through our pre-feasibility work.” Stated Simon Clarke, CEO of American Lithium.
“In Peru, we are excited about high grade drill results at Falchani as we continue to advance the project, as well as a new discovery at Quelcaya which establishes the potential of a large-scale lithium district.”
Highlights include, American Lithium investing C$5,360,000 for a 9.7% interest in Surge Battery Metals to support the development of the Northern Nevada Claystone Project. The company, intersected high-grade lithium at Falchani, extending known mineralization – reporting the highest grades of both lithium and caesium encountered at the project to date – up to 5,465ppm lithium and up to 12,610ppm caesium.
The company also announced the decision to continue to advance its Macusani Uranium Project with a spin-out deferral. American Lithium published a maiden environmental, social and governance ESG resource report and continued the refinement of TLC PEA flow sheet with higher lithium purity indicating enhanced economic potential of this project.
Finally, the company announced a new lithium discovery 6km west of its Falchani project with assays up to 2,668ppm lithium and over 222m of continuous mineralization.
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