American Lithium increases Measured Resources by 47% at Nevada project, with refined resource block model.

From GlobeNewswire: 2025-02-27 17:00:00

American Lithium Corp. announces an updated Mineral Resource Estimate for the Tonopah Lithium Claims project in Nevada. Measured Resources increased by 47% to 6.17 Mt LCE, while Indicated Resources decreased by 48% to 2.39 Mt LCE. The resource block model was refined, boosting confidence in the project for the 2024 PEA Mine Plan.

Stantec Consulting Services Inc. completed the updated MRE based on 44 additional drill holes. The Measured + Indicated Resource stands at 8.56 Mt LCE, with Inferred Resource at 1.44 Mt LCE. This represents a 3% decrease from the previous MRE for the project.

The Interim CEO of American Lithium, Alex Tsakumis, highlights the upgraded Measured Resource footprint as crucial for the 2024 PEA Mine Plan. The focus remains on advancing projects in preparation for an anticipated recovery in the battery metals market.

The mineral resource estimation calculation methodology for the project was developed using Hexagon Mining’s software. A base case lithium resource cut-off grade of 500 ppm was determined for the project’s economics. The updated MRE represents significant changes in Measured, Indicated, and Inferred categories.

American Lithium is developing advanced-stage lithium projects in Nevada and Peru. The projects have undergone preliminary economic assessments and enjoy strong community support. The company aims to capitalize on the growing demand for battery metals in the market.

American Lithium Corp. reminds investors to exercise caution due to uncertainties related to the global economic environment and the mining industry. The company faces risks such as permitting delays, commodity price fluctuations, and environmental regulations that could impact its operations.

Thirty-two concessions for the Falchani and Macusani Projects in Peru are currently subject to legal processes. American Lithium is working to overturn resolutions invalidating title to these concessions. The company remains hopeful for a favorable outcome, but uncertainties exist regarding the legal proceedings.



Read more at GlobeNewswire: American Lithium Reports Successful Resource Conversion