HENDERSON (Commodity Online): American Lithium Minerals Inc. (OTCBB: AMLM) has entered into an agreement to acquire both the North Borate Hills and South Borate Hills Lithium Projects in Nevada.
The Projects cover 3,400 acres located 20 miles west of Chemetall Foote's Lithium Brine Operation at Clayton Valley.
US Borax drilled the Borate Hills Projects in the 1980s and at the time, the company stated that the Project was the second largest boron deposit in the United States.
Although US Borax initially drilled the North Borate Hills Project, discovery of the South Borate Hills Project identified a larger project with higher lithium values. The South Borate Hills Project is a strata-bound clay stone unit that is approximately 1.5 miles long and up to 1,300 feet thick.
Recent sampling of the South Borate Hills Project returns boron grades of over 1% B, lithium grades of up to 0.275% Li, and Strontium credits. All other metals concentrations are low, including iron, which can be deleterious for processing.
According to Judy Baker, Head of Property Development, Production and Acquisitions for American Lithium Minerals, the acquisition of the Borate Hills Lithium Projects in Nevada is a very significant project acquisition for American Lithium Minerals.
