American Lithium Corp. (TSXV: LI) this morning announced that discovery of two new high-priority, drill-ready lithium target areas west of the Falchani lithium deposit in the Macusani Plateau in southeastern Peru. This comes after the company received positive lithium results from mapping and sampling of the said two target areas.
A total of 64 grab and trench samples were collected from the target areas, referred to as te Sapanuta 3 Zone and the Clark-Dykes Zone. Results returned lithium grades ranging from 1,056 to 1,758 ppm lithium and 704 to 2,700 ppm lithium, respectively.
The company is now planning a drill program to test the two new targets and focus on the discovery of new lithium deposits. Drilling is targeted to begin in late June pending the receipt of the required permits.
The company also announced this morning that it intends to mobilize drills to Falchani and Macusani. Drilling is to be focused on in-fill and expansion drilling to upgrade resources at Falchani, while Macusani will see drilling focus on newly prospected areas that extend from existing deposits, as well as new regions that contain surface uranium.
American Lithium Corp. last traded at $2.17 on the TSX Venture.
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