VANCOUVER, British Columbia, Sept. 15, 2021 (GLOBE NEWSWIRE) -- Ameriwest Lithium Inc. (Ameriwest or the Company) (CSE: AWLI) (OTC: AWLIF) (FSE: 5HV0), a North American lithium exploration and development company, is pleased to announce it has received a geophysics report offering highly positive conclusions regarding the prospect for lithium brine concentrations at its Deer Musk East (DME) property in Nevadas well-known Clayton Valley.
VANCOUVER, British Columbia, Sept. 15, 2021 (GLOBE NEWSWIRE) -- Ameriwest Lithium Inc. (“Ameriwest” or the “Company”) (CSE: AWLI) (OTC: AWLIF) (FSE: 5HV0), a North American lithium exploration and development company, is pleased to announce it has received a geophysics report offering highly positive conclusions regarding the prospect for lithium brine concentrations at its Deer Musk East (“DME”) property in Nevada’s well-known Clayton Valley.
The report, titled “Geophysical Exploration for Deer Musk East Claim Area” was prepared by Advanced Geoscience Inc. (“AGI”). The report concludes that the results from the geophysics program “…demonstrate a strong likelihood for the occurrence of lithium brine deposits beneath the claim area.” The report recommends additional geophysics studies to further improve the definition of the brine targets. It also recommends drilling to assess the lithium content of the brine targets with the goal of ultimately generating mineral resources.
David Watkinson, President and CEO of Ameriwest, stated, “The results of the report are exciting, as they are proving up the exploration model outlined by the Company’s geological team for DME. It is clear the next phase of work including drilling, is warranted, to better define and test the geophysical targets identified in this report.”
The Deer Musk East Property (DME or the Property) is located on the southeast margin of Clayton Valley between the paleo-lacustrine playa and Clayton Ridge, the first set of uplifted Tertiary sediments on the east side of Clayton Valley. DME is adjacent to and south of Noram Lithium Corporation’s Zeus Project and Cypress Development Corporations Clayton Valley lithium properties. Those company's exploration activities have successfully discovered lithium claystone deposits with NI 43-101 Technical Reports defining lithium mineral resources.
Note that the location of DME adjacent to or nearby properties does not guarantee exploration success at DME or that mineral resources or reserves with be defined on the Property. However, the exploration models and activities conducted by those companies provide a useful guide for exploration work being completed by Ameriwest at DME.
The geophysics program at DME consisted of a three-tiered geophysical program that included 30,200-feet (9.05 km) of seismic surveys in four lines that contained 2,210 stations, a detailed gravity survey with 85 station readings, and a selective seven-station transient electromagnetic (“TEM”) resistivity survey. The work was initiated to identify the subsurface sedimentary composition, locate, and identify possible tectonic structures, to ascertain the potential depth to groundwater, and to determine if the groundwater is brine rich. Brine rich groundwater has potential to host concentrated lithium.
The data clearly showed the “seismic stratigraphy” as a complex fault zone that both lifts up as well as down drops vast sections of the Property (horst and graben fault blocks) which have created potentially favourable traps for lithium-rich brines and brings potentially lithium-rich sediments to the near-surface.
A central core uplift area in the middle of the claim block was clearly apparent from both the seismic and gravity surveys. There is a substantial gravity low on the east-central part of the claim block indicating a large down-dropped section. This suggests potential for a massive fault-blocked groundwater pool is evident. The geophysicist identified three distinct fault zones, although other faults are likely present.
The 2D Subsurface TEM Resistivity Profile produced by the geophysicist revealed a strong near-surface, low conductivity groundwater horizon (the current recharge aquifer) that overlies a very conductive saline-rich aquifer. It, in turn, overlies another low conductivity aquifer. If these groundwater horizons are lithium-rich brines, they would be between 300 - 800 feet below the surface. Drilling is required to test for the presence of lithium in the various groundwater aquifers. Groundwater, across the width of the claim block, appears to host saline-rich brines that have potential to also contain lithium.
Raymond Spanjers, MS, P. Geo, a qualified person (QP) under the NI 43-101 Instrument, has reviewed and approved the technical content of this release.
In related news, as part of an ongoing commitment to transparency and effective governance, Ameriwest has engaged Invictus Investor Relations Inc. a professional consultancy, to provide public and investor relations strategic services including communications with the investment community, social media activities, and the initiation of analyst coverage for an initial term of one-year, effective immediately.
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 Ameriwest Lithium Inc. (CSE: AWLI) (OTC: AWLIF) (FSE: 5HV0)
Ameriwest Lithium Inc. 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 the Deer Musk East property, located in the prolific Clayton Valley, Nevada, totalling 5,600 acres, and the Railroad Valley property, totalling 6,200 acres. Additionally, Ameriwest’s current resource portfolio includes the ESN Project, located in White Pine County, Nevada, and the Koster Dam property, located in the Clinton Mining Division of British Columbia, in which Ameriwest has a 45% interest. 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.