Recent Drilling at TLC Significantly Expands Higher Grade, Near Surface Lithium Mineralization
Recent Drilling at TLC Significantly Expands Higher Grade, Near Surface Lithium
Mineralization
VANCOUVER, BRITISH COLUMBIA, December 8, 2023 – American Lithium Corp. (“American Lithium” or
the “Company”) (TSX-V:LI | Nasdaq:AMLI | Frankfurt:5LA1) is pleased to announce results from 14 step
out drill holes expanding the measured resource footprint at the Tonopah Lithium Project (“TLC”), located
near the town of Tonopah, in Nevada. A total of 26 diamond core holes and 16 Reverse Circulation (“RC”)
holes drilled in 2022 and 2023 will be added to the updated mineral resource block model and
incorporated into an updated Mineral Resource Estimate (“MRE”) on TLC.
The Company also announces it has commenced early work which will be used to support mine permitting
applications following the completion of the pre -feasibility and associated study in H2, 2024. It has
appointed SRK Consulting (U.S.) Inc. of Elko , Nevada to coordinate the preparation of a mine plan of
Operations with the BLM. Additionally, the Company has selected Nexus Environmental Consultants Inc.
of Reno, Nevada to perform biological baseline studies in support of the Mine Plan of Operations
application.
TLC Drilling Highlights
• Post-resource drilling demonstrates continued expansion of TLC lithium deposit and continuity with
significant intervals of claystone Lithium (“Li”) mineralization >1,000 ppm Li at shallow depths;
• Extension of measured resource footprint in all directions (see Figure 1);
• 73.1 metres (“m”) averaging 1,148 ppm Li in TLC-2222C between 17.1-90.2 m downhole with up to
1,843 ppm Li over 1.5 m;
• 81.4 m averaging 1,135 ppm Li in TLC-2321C between 27.1-108.5 m downhole with up to 2,127 ppm
Li over 1.5 m;
• 80.8 m averaging 1,090 ppm Li in TLC-2242 between 3.0-83.8 m downhole with up to 2,008 ppm Li
over 1.5 m; (see Tables of Select Diamond and RC Drill Hole Results);
• Identification of additional shallow, high-grade lithium mineralization to the northeast should grow
the MRE and positively impact project economics;
• Drill results will further refine the pre-feasibility study mine plan; and
• Data from all additional 42 dri ll holes has been sent to Stantec Consulting Inc. and will be
incorporated into an updated MRE for the TLC Project.
Simon Clarke, CEO of American Lithium , states, “We continue to make excellent progress at TLC . Drill
results from the remainder of our 2022 program and our expansion drilling in 2023 should add significantly
to the very large existing Measured & Indicated Resource . In addition, the thick, shallow higher-grade
sections added should further enhance robust project economics and will be reflected in an updated TLC
mine plan in the PFS. Our confidence in the Project continues to grow a nd we have now launched work
with SRK and Nexus which will feed into and help us fast -track the mine permitting process following
completion of the PFS is in 2024.”
TLC Select Drill Hole - Details
RC drill holes:
• TLC-2240, 2241 and 2242 as well as diamond drill holes TLC-2318C, 2320C, 2321C and 2333C were
all drilled to the north of the existing Measured Resource footprint and extend the shallow, high
grade lithium mineralization approximately 850 m to the north. TLC-2333C marks the
northernmost mineralized hole with > 1,000 ppm Li intersected over appreciable thicknesses.
Diamond drill holes:
• TLC-2222C was drilled in the west central resource area and essentially fills in a historic gap in the
resource from 2000 era drilling that was not drilled deep enough.
• TLC-2228C was drilled in the central northwestern area to fill in a statistical gap in the Measured
resource footprint.
• TLC-2320C and 2221C were drilled to in-fill an existing gap in Measured Resource footprint in the
south-central resource area.
• TLC-2218C and 2219C were drilled along the southeastern edge of the Measured resource
footprint to extend and confirm lithium mineralization.
• TLC-2213C was drilled on the eastern side of the project area, and extends the mineralized
footprint with lower grade, but above cut-off grade Li mineralization marking the east central limit
of the TLC Deposit high-grade footprint.
Link 1 – PDF Figures
Link 2 – PDF Drill Hole Table
Figure 1 – TLC Project Drill Hole Location Map – Select Holes with Mineral Resource Estimate Footprint
Tables of Select Diamond and RC Drill Hole Results
TLC-2240 – vertical RC
520’ total depth
From (feet) To (feet) Thickness
(feet)
From (m) To (m) Thickness
(m)
Li (ppm)
25 195 170 7.6 59.4 51.8 1027
including 30 145 115 9.1 44.2 35.1 1173
Maximum 75 80 5 1871
TLC-2241– vertical RC
370’ total depth
From (feet) To (feet) Thickness
(feet)
From (m) To (m) Thickness
(m)
Li (ppm)
40 210 170 12.2 64.0 51.8 1080
including 40 160 120 12.2 48.8 36.6 1190
Maximum 95 100 1915
TLC-2242 – vertical RC
370’ total depth
From (feet) To (feet) Thickness
(feet)
From (m) To (m) Thickness
(m)
Li (ppm)
10 275 265 3.0 83.8 80.8 1090
including 140 260 120 42.7 79.3 36.6 1286
Maximum 145 150 5 2008
TLC-2318C – vertical
Diamond 317’ total
depth
From (feet) To (feet) Thickness
(feet)
From (m) To (m) Thickness
(m)
Li (ppm)
23 170 147 7.0 51.8 44.8 1007
including 48 135 87 14.6 41.1 26.5 1255
Maximum 72 75 3 2063
TLC-2320C – vertical
Diamond 608’ total
depth
From (feet) To (feet) Thickness
(feet)
From (m) To (m) Thickness
(m)
Li (ppm)
240 328 88 73.2 100.0 26.8 921
including 293 328 35 89.3 100.0 10.7 1163
Maximum 303 308 5 1590
TLC-2321C vertical
Diamond 453’ total
depth
From (feet) To (feet) Thickness
(feet)
From (m) To (m) Thickness
(m)
Li (ppm)
89 356 267 27.1 108.5 81.4 1135
including 143 341 198 43.6 103.9 60.3 1268
Maximum 253 258 5 2177
TLC-2333C – vertical
Diamond 316 ’ total
depth
From (feet) To (feet) Thickness
(feet)
From (m) To (m) Thickness
(m)
Li (ppm)
5 126 121 1.5 38.4 36.9 774
including 86 126 40 26.2 38.4 12.2 1184
Maximum 106 111 5 1532
TLC-2228C – vertical
Diamond 418 ’ total
depth
From (feet) To (feet) Thickness
(feet)
From (m) To (m) Thickness
(m)
Li (ppm)
22 82 60 6.7 25.0 18.3 961
172 392 220 52.4 119.5 67.1 1422
Maximum 317 322 5 2266
TLC-2222C – vertical
Diamond 316 ’ total
depth
From (feet) To (feet) Thickness
(feet)
From (m) To (m) Thickness
(m)
Li (ppm)
56 296 240 17.1 90.2 73.1 1148
including 116 296 180 35.3 90.2 54.9 1311
Maximum 266 271 5 1981
TLC-2220C – vertical
Diamond 31 5’ total
depth
From (feet) To (feet) Thickness
(feet)
From (m) To (m) Thickness
(m)
Li (ppm)
18 98 80 997
Maximum 88 93 5 1650
TLC-2221C – vertical
Diamond 504’ total
depth
From (feet) To (feet) Thickness
(feet)
From (m) To (m) Thickness
(m)
Li (ppm)
373 489 116 1014
including 413 489 76 1262
Maximum 478 483 5 1843
TLC-2218C – vertical
Diamond 317’ total
depth
From (feet) To (feet) Thickness
(feet)
From (m) To (m) Thickness
(m)
Li (ppm)
226 308 82 924
including 276 283 57 1022
Maximum 226 232 6 1239
TLC-2219C – vertical
Diamond 340’ total
depth
From (feet) To (feet) Thickness
(feet)
From (m) To (m) Thickness
(m)
Li (ppm)
73 258 185 890
including 148 218 70 1191
Maximum 153 158 5 1380
TLC-2213C – vertical
Diamond 303’ total
depth
From (feet) To (feet) Thickness
(feet)
From (m) To (m) Thickness
(m)
Li (ppm)
112 222 110 847
Maximum 217 222 5 1088
Quality Assurance, Quality Control and Data Verification
2022 Diamond drilling was conducted by First Drilling of Montrose, Colorado, and 2023 diamond drilling
was completed by IG Drilling of Spanish Fork, Utah using large diameter, PQ -size and HQ -size drilling
entirely vertical holes. Drill core samples are nominally 5-foot (1.53 m) and are cut longitudinally, and one
half is cut a second time longitudinally with a diamond saw with one-quarter of the core placed in sealed
bags and shipped to analytical laboratories.
Reverse Circulation (RC) drilling is being conducte d by Harris Exploration Drilling and Associates Inc., of
Fallon, Nevada with 5.5 -inch diameter face centred bit on vertical drill holes. Sampling was conducted
using a riffle splitter or a cyclone splitter depending on the moisture content of the sampled m aterial.
Sampling was conducted over 5-foot (1.52m) intervals with individual samples placed in sealed bags and
transported to the respective analytical labs.
Samples were shipped to either American Assay Laboratories (AAL) in Sparks, Nevada for sample
preparation, processing using 5 -acid digest and ICP -MS multi -element analysis. Pulps and rejects are
returned and retained by the Company. AAL is an ISO 9000 certified assay laboratory. The QA/QC program
includes a comprehensive analytical quality assurance and control routine comprising the systematic use
of Company inserted standards, blanks and field duplicate samples, internal laboratory standards and has
also included check analyses at other accredited laboratories. Downhole thicknesses for vertical drill holes
are considered accurate true thickness intersections for the essentially flat -lying, to gently dipping TLC
host stratigraphy.
Qualified Person
Mr. Ted O’Connor, P.Geo., Executive Vice President of American Lithium, and a Qualified Person as
defined by National Instrument 43 -101 Standards of Disclosure for Mineral Projects , has reviewed and
approved the scientific and technical information contained in this news release.
About American Lithium
American Lithium is actively engaged in the development of large -scale lithium projects within mining -
friendly jurisdictions throughout the Americas. The Company is currently focused on enabling the shift to
the new energy paradigm through the continued d evelopment of its strategically located TLC lithium
project (“TLC”) in the richly mineralized Esmeralda lithium district in Nevada, as well as continuing to
advance its Falchani lithium (“Falchani”) and Macusani uranium (“Macusani”) development-stage projects
in southeastern Peru. All three projects, TLC, Falchani and Macusani have been through robust preliminary
economic assessments, exhibit strong significant expansion potential and enjoy strong community
support. Pre-feasibility is advancing well TLC and Falchani.
For more information, please contact the Company at [email protected] or visit our website
at www.americanlithiumcorp.com
Follow us on Facebook, Twitter and LinkedIn.
On behalf of the Board of Directors of American Lithium Corp.
“Simon Clarke”
CEO & Director
Tel: 604 428 6128
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policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press
release.
Cautionary Statement Regarding Forward Looking Information
This news release contains certain forward -looking information and forward -looking statements
(collectively “forward -looking state ments”) within the meaning of applicable securities legislation. All
statements, other than statements of historical fact, are forward -looking statements. Forward -looking
statements in this news release include, but are not limited to, statements regarding the business plans,
expectations and objectives of American Lithium. Forward-looking statements are frequently identified by
such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend", “indicate”, “scheduled”,
“target”, “goal”, “potential”, “subject”, “efforts”, “option” and similar words, or the negative connotations
thereof, referring to future events and results. Forward-looking statements are based on the current
opinions and expectations of management and are not, and cannot be, a guarantee of future results or
events. Although American Lithium believes that the current opinions and expectations reflected in such
forward-looking statements are reasonable based on information available at the time, undue reliance
should not be placed on forward-looking statements since American Lithium can provide no assurance that
such opinions and expectations will prove to be correct. All forward-looking statements are inherently
uncertain and subject to a variety of assumptions, risks and uncertainties, including risks, uncertainties
and assumptions related to: American Lithium’s ability to achieve its stated goals, which could have a
material adverse impact on many aspects of American Lithium’s businesses including but not limited to:
the ability to access mineral properties for indeterminate amounts of time, the health of the employees or
consultants resulting in delays or diminished capacity, social or political instability in Peru which in turn
could impact American Lithium’s ability to maintain the continuity of its business operating requirements,
may result in the reduced availability or failures of various local administration and critical infrastructure,
reduced demand for the American Lithium’s potential products, availability of materials, global travel
restrictions, and the availability of insurance and the associated costs; the ongoing ability to work
cooperatively with stakeholders, including but not limited to local communities and all levels of
government; the potential for delays in exploration or development activities; the interpretation of drill
results, the geology, grade and continuity of mineral deposits; the possibility that any future exploration,
development or mining results will not be consistent with our expectations; risks that permits will not be
obtained as planned or delays in obtaining permits; mining and development risks, including risks related
to accidents, equipment breakdowns, labour disputes (including work stoppages, strikes and loss of
personnel) or other unanticipated difficulties with or interruptions in exploration and development; risks
related to commodity price and foreign exchange rate fluctuations; risks related to foreign operations; the
cyclical nature of the industry in which American Lithium operates; risks related to failure to obtain
adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental
approvals; risks related to environmental regulation and liability; political and regulatory risks associated
with mining and exploration; risks related to the uncertain global economic environment and the effects
upon the global market generally, any of which could continue to negatively affect global financial
markets, including the trading price of American Lithium’s shares and could negatively affect American
Lithium’s ability to raise capital and may also result in additional and unknown risks or liabilities to
American Lithium. Other risks and uncertainties related to prospects, properties and business strategy of
American Lithium are identified in the “Risk Factors” section of American Lithium’s Management’s
Discussion and Analysis filed on October 16, 2023, and in recent securities filings available at
www.sedarplus.ca. Actual events or results may differ materially from those projected in the forward-
looking statements. American Lithium undertakes no obligation to update forward-looking statements
except as required by applicable securities laws. Investors should not place undue reliance on forward-
looking statements.