Furano Copper Showing Strong Results

Rhea-AI Summary

American Lithium Minerals (OTC: AMLM) provided an exploration update on the Furano Copper Project in Chile and progress on its transaction with Aeramentum Resources.

Key points: historical shallow drilling (mostly <150m) yielded intercepts like 50m @ 1.2% Cu and 10m @ 2.4 g/t Au; statistical analysis supports a porphyry target; quotes obtained for IP and diamond drilling with a planned program to reach ~600m depth to test deeper porphyry mineralization; published resource-scale figures include 219 Mt @ 0.62% Cu oxides and 1,860 Mt @ 0.34% Cu sulfides; site is near Iquique and 25km NW of BHP Cerro Colorado.

Positive

• Historical intercept of 50m @ 1.2% Cu
• Historical intercept of 10m @ 2.4 g/t Au
• Published large-scale figures: 219 Mt @ 0.62% Cu oxides and 1,860 Mt @ 0.34% Cu sulfides
• Quotes obtained and diamond drilling planned to test to ~600m

Negative

• Prior drilling was mostly shallow (<150m), limiting deep data
• No historical drilling below 300m, leaving deep porphyry untested
• Several holes ended in low-grade mineralization (0.1–0.3% Cu)

News Market Reaction – AMLM

-6.52%

1 alert

-6.52% News Effect

On the day this news was published, AMLM declined 6.52%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Update on Chile Copper Project

CARSON CITY, Nev., Feb. 3, 2026 /PRNewswire/ -- American Lithium Minerals Inc. (OTC: AMLM) ("AMLM" or the "Company"), announced an exploration update of its transaction with Aeramentum Resources Limited ("AEN") on the Furano Copper Project in Chile and is actively progressing exploration plans and in summary:

• Furano (Cu-Au): Quotes have been obtained for IP work and diamond drilling at drilling program is planned in coming months, following up the last drilling Campaign conducted by Nittetsu in 2011-12.
  
  
• 85km NE thorough mainly paved roads from port town in North, Iquique and 25km NW from Cerro Colorado – BHP mine - Decision to Mine, 2027 (219 Mt @ 0.62% Copper oxides; 1860 Mt @ 0.34% Copper Sulfides)
  
  
• 27 Exploitation Licenses, previously had 9,000m of mostly shallow (<150m) drilling with hits such as 50m @ 1.2% Cu (from 110m, F15-17R) and 10m @ 2.4g/t Au (from 40m, F15-18R) within porphyry or tourmaline breccia
  
  
• Large alteration zone, typical Porphyry setting with 4 drillholes intersecting the porphyry at depth and terminating in mineralization (with intersections such as 40m @ 0.15% Cu, 20m @ 0.2% Cu, 50m @ 0.15% Cu).

BHP is planning to restart its Cerro Colorado copper mine in Chile. The mine, located in the Pampa Norte region, is part of BHP broader Chilean copper operations. BHP has been investing heavily in Chile, including a $14 billion investment plan for its copper mines. Cerro Colorado is expected to be restarted utilizing supergene leaching, with a goal of producing 85-100ktpa in coming years.

• Histogram (statistical) analysis of the Copper Samples from the 2010-12 drilling shows encouraging signs for the potential for a Porphyry-Copper deposit, with no drilling below 300m vertical and 4 holes ending in copper mineralization (0.1-0.3% Cu).
  
  
• The top of porphyry copper orebodies are often leached, hence the plan is to drill deeper into the porphyry (an additional 200-300m, to total depth of 600m) to ascertain both the potential for grade and width of mineralization

FORWARD-LOOKING STATEMENTS:

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties.

Contact:
American Lithium Minerals, Inc
1007 South Street
Carson City, NV 89701
Phone: (877) 734-8787
E-mail: info@americanmineralresources.com
X : @AMR_ResourcesAu
LinkedIn: https://bit.ly/4qjAuWE

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SOURCE American Lithium Minerals, Inc

FAQ

What exploration work is AMLM planning at Furano in 2026?

AMLM plans geophysical IP surveys and diamond drilling to test deeper porphyry targets. According to the company, quotes have been obtained and a program will aim to drill roughly to 600m total depth to evaluate wider, higher-grade zones below prior shallow holes.

What notable historical drill results does AMLM cite for Furano (AMLM)?

Historical hits include 50m @ 1.2% Cu and 10m @ 2.4 g/t Au. According to the company, mostly shallow drilling (<150m) from 2010–12 also returned multiple porphyry-related intersections and four holes ended in mineralization.

How large are the published resource-scale figures mentioned for Furano (AMLM)?

The update cites resource-scale figures of 219 Mt @ 0.62% Cu oxides and 1,860 Mt @ 0.34% Cu sulfides. According to the company, these figures frame regional potential but deeper drilling is needed to confirm economic grade continuity.

Why is deeper drilling to ~600m important for AMLM's Furano project?

Deeper drilling targets untested porphyry roots that may host higher grades. According to the company, top-of-porphyry zones are often leached, so an additional 200–300m beyond prior holes is planned to assess grade and width.

How close is Furano to existing mining infrastructure referenced by AMLM?

Furano lies about 85 km NE of Iquique and ~25 km NW of BHP's Cerro Colorado. According to the company, the proximity to paved roads and nearby large operations supports logistical access for exploration and potential future development.