Ameriwest Lithium Information Technical File at the Thompson Valley Assets, Arizona, and Strikes Ahead with Allowing

Article content material

VANCOUVER, British Columbia, Might 19, 2023 (GLOBE NEWSWIRE) — Ameriwest Lithium Inc. (“Ameriwest” or the “Corporate”) (CSE: AWLI) (OTC: AWLIF) (FSE: 5HV0), a North American lithium exploration and construction corporate, is happy to announce that it has filed a Technical File (the “File”) on its Thompson Valley Lithium Assets (the “Assets”) situated in west-central Arizona. The record, ready underneath the necessities of Nationwide Software 43-101 (“NI 43-101”) and requirements of the Canadian Institute of Mining, Metallurgy, and Petroleum (“CIM”) summarizes geological take a look at paintings finished by way of the Corporate in 2022 together with geologic mapping, floor sampling, and geophysics. It identifies six lithium exploration goals with possible to host 200-400 million tonnes (220-440 million lots) of deposits, with anticipated reasonable grade of those deposits starting from 114 to 842 ppm Li. It recommends the Corporate continue with two stages of exploration as the following steps for the Assets. Segment 1 would consist of extra geophysics and allowing. Segment 2 would encompass drilling and pattern research to start out the method of defining the deposit and its possible tonnage and grade. No mineral sources or reserves have not begun been delineated at the Assets.

Article content material

Ameriwest CEO, Mr. David Watkinson, commented “Our group used to be a great deal inspired by way of the end result of our soil sampling performed in 2022 on the Thompson Valley venture. It isn’t precisely on a regular basis prevalence to retrieve samples of over 1,000 ppm of lithium and as such we’re excited to additional our exploration plans. Generating a Technical File is an crucial milestone, enabling us to exactly report our findings and determine exploration goals for long term techniques.”

Article content material

About Thompson Valley Mission and Technical File Highlights

The Assets situated in a rural space in west-central Arizona, U.S.A. in Yavapai County alongside the Kirkland Creek drainage between the cities of Kirkland to the southeast and Hillside to the southwest alongside County Highway 15. Mineral rights encompass a mix of State of Arizona (State) and U.S. Federal mineral rights totaling 6,881 ac (2,785 ha). A part of the land, 91% or 6,263 ac (2,534.46 ha), are State Consider Lands the place the skin and minerals are owned by way of the State. Mineral rights for the steadiness of the valuables, 9% or 618.47 ac (250.29 ha), are owned by way of the united statesGovernment underneath the jurisdiction of the Division of the Inner and controlled by way of the Bureau of Land Control (BLM). Even supposing the mineral rights on those Federal lands are managed by way of the U.S. Executive, they’re of ‘cut up property,’ which means the skin is non-public and held one at a time from the minerals. Construction of the mineral rights has precedence over the skin grazing rights.

Article content material

A deposit of white clay used to be first came upon in Thompson Valley by way of Joseph Lyles within the mid-1950’s. The State of Arizona recognized the deposit because the “White Hills Lithium Prospect” in 1957. Shallow sampling of the realm used to be performed by way of the USGS in 1960 and it used to be decided that the clay is a lithium-bearing bentonite clay referred to as “hectorite”. Lithium contents of the samples had been reported by way of the USGS 1965 which incorporated two places at the mineral rights space.

Thompson Valley hosts Quaternary-Tertiary sediments protecting the valley ground, with huge basalt flows of the similar age to the north and south. Precambrian granites and schists are uncovered to the west and east. The valley ground sediments are volcanic ashes, tuffs and decomposed basalt and granitic sediments which were hydrothermally altered partially. There may be proof that the Thompson Valley deposit would possibly were a extremely mineralized lake. The lake would possibly were fed by way of a mineralized scorching spring and, because it cooled, more than a few minerals like lithium brought on out as carbonates. The lake deposits additionally incorporated ash and tuff, that have been altered to clay. There seems to be two kinds of lithium within the Thompson Valley space: 1) the hectorite-like white, waxy, translucent clay with an increased lithium content material, and a pair of) the multicolored clay-like sediment this is most often now not white, waxy, nor translucent, and has a top carbonate content material and little exact clay content material.

Article content material

Article content material

Exploration performed by way of Ameriwest at the Assets started in 2022 and consisted of description of floor options and mapping the valuables, examining floor samples received from the realm and commissioning a satellite tv for pc geophysical survey. A complete of 205 samples had been received and analyzed. Floor samples analyzed around the venture space have lithium contents starting from 2 to at least one,295 ppm Li. Of those, 36% had lithium contents more than 200 ppm, 14% had been more than 500 ppm, and three% had been more than 1,000 ppm, with an average of 227 ppm Li and same old deviation of 269 ppm Li. Many of the lithium-bearing samples are top in carbonate and reactive to acid (see press liberate dated December 13, 2022, for main points and knowledge on QA/QC procedures).

Article content material

From those samples, six major exploration goal spaces were outlined for observe up exploration, protecting a space of roughly 1,108 acres. Attainable tonnage of those goals has been estimated to be 207 to 414 million tonnes, in response to estimated depths starting from 75 to 150 toes (23 m to 46 m). Floor pattern analyses throughout the six exploration goals vary from 12 to at least one,295 ppm Li. From the 123 samples throughout the mixed goal spaces, 47% had lithium contents more than 200 ppm, 19% had lithium contents more than 500 ppm, and four% had been more than 1,000 ppm, with an average of 286 ppm Li and same old deviation of 287 ppm Li. Notice that floor sampling does now not essentially correlate to grades that may well be present in drilling however displays the potential of lithium to be discovered at intensity via drilling under the skin sampling anomalies.

Article content material

From the above research, detailed within the File, Ameriwest believes decided on exploration goals at Thompson Valley display the potential of the Assets to host a deposit (or sequence of deposits) within the vary of 200-400 million tonnes (220-440 million lots) in dimension with anticipated reasonable grade starting from 114 to 842 ppm Li. This must be showed with drilling, assaying, and modelling.

The File recommends a Segment 1 exploration program consisting of geophysics and allowing. Geophysics would encompass an REG Satellite tv for pc Magnetic Resonance Survey. Allowing would encompass acquiring a Proper of Approach (“ROW”) to get entry to the valuables, construction of a drill plan (location of roads and drill pads), an archeological find out about of spaces to be disturbed, a local plant survey of spaces to be disturbed, and of entirety of a Geological Box Operations (“GFOP”) with the State of Arizona.

Article content material

The File additional recommends that once acquiring the vital approvals, the Corporate continue with a Segment 2 exploration program with an preliminary core drilling and sampling program. This would come with roughly 11 drill holes totaling 3,300 toes (1,005 m) of drilling, venture supervision, core logging, and laboratory research. Mineralogical research would even be finished, in addition to an up to date Technical File. Notice that Segment 2 paintings is topic to allowing and different components and the scope of labor is also adjusted as required.

The File, entitled, “Certified Individuals Technical File at the Thompson Valley Lithium Mission Exploration Goal, Yavapai County, Arizona” used to be ready on behalf of Ameriwest Lithium Inc. by way of Gregory J. Bell, M.S., P.E. of Senergy Engineering and Brian A. Beck., M.S. P. Geo. CPG of Brian Beck Consulting LLC and has a record date of January 31, 2023, and efficient date of January 17, 2023. Each authors are experts running for Ameriwest and are thought to be non-independent certified individuals underneath Nationwide Software NI 43-101. The File will also be discovered underneath the Corporate’s company filings at www.sedar.com

Article content material

David Watkinson, P.Eng., a non-independent certified individual underneath the NI 43-101 Software, has reviewed and licensed the technical content material of this liberate. Mr. Watkinson is President and CEO of Ameriwest.

About Ameriwest Lithium Inc.

Ameriwest Lithium Inc. is a Canadian-based exploration corporate with a focal point on figuring out strategic lithium mineral useful resource initiatives for exploration and construction. The Corporate is recently desirous about exploring its Thompson Valley lithium assets situated in Yavapai County, Arizona. Ameriwest owns 100% of the valuables which covers 6,881 acres. As mentioned within the Corporate’s information liberate dated January 31, 2023, the Corporate entered into an choice settlement with Nova Lithium Corp (“Nova”) wherein Nova can earn a 51 % hobby within the Edwards Creek Valley venture encompassing 22,210-acres. Ameriwest Lithium additionally owns 100% of five,640-acre Little Smoky Valley assets, 13,580-acre Railroad Valley assets and its 7,600-acre Deer Musk East assets in Nevada.

Article content material

On Behalf of the Board of Administrators

Glenn Collick
Leader Running Officer and director

For additional knowledge, please touch:

Glenn Collick
Leader Running Officer and a director
(778) 868-2226

The Canadian Securities Trade has now not whatsoever handed upon the deserves of the issues referenced herein and has neither licensed nor disapproved the contents of this information liberate.

Warning Relating to Ahead-Taking a look Data

Positive statements contained on this information liberate might represent ahead‐taking a look knowledge. Ahead‐taking a look knowledge is regularly, however now not at all times, recognized by means of phrases reminiscent of “look forward to”, “plan”, “estimate”, “be expecting”, “might”, “will”, “intend”, “will have to”, and equivalent expressions. Ahead‐taking a look knowledge comes to identified and unknown dangers, uncertainties and different components that can purpose exact effects or occasions to fluctuate materially from the ones expected in such ahead‐taking a look knowledge. The Corporate’s exact effects may just fluctuate materially from the ones expected on this ahead‐taking a look knowledge on account of regulatory choices, aggressive components within the industries by which the Corporate operates, prevailing financial prerequisites, adjustments to the Corporate’s strategic enlargement plans, and different components, a lot of which can be past the keep an eye on of the Corporate. The Corporate believes that the expectancies mirrored within the ahead‐taking a look knowledge are affordable, however no assurance will also be for the reason that those expectancies will end up to be right kind and such ahead‐taking a look knowledge will have to now not be unduly relied upon. Any ahead‐taking a look knowledge contained on this information liberate represents the Corporate’s expectancies as of the date hereof, and is topic to modify after such date. The Corporate disclaims any goal or legal responsibility to replace or revise any ahead‐taking a look knowledge whether or not on account of new knowledge, long term occasions or differently, with the exception of as required by way of acceptable securities law.