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Ameriwest Critical Metals (OTC:AWLIF) closed an oversubscribed private placement for $3,065,750 via 12,263,000 units at $0.25 per unit and is mobilizing exploration at its Bornite copper-gold-silver project (Oregon) as its 2026 focus.
The company holds 100% of Bornite (subject to US$15,000 annual advance royalty and a 2% production royalty redeemable for US$1,000,000), plans core recovery, 3D modelling, geophysics, a NI 43-101 technical report and permitting toward an initial drill program. Ameriwest also plans summer 2026 work at the Xeno REE project and is reviewing a potential 2026 drill at Thompson Valley. A $415,000 marketing agreement begins March 16, 2026.
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Ameriwest Lithium Inc. (CSE: AWLI, OTC: AWLIF) has announced positive results from surface sampling at its Thompson Valley Property in Arizona, revealing significant lithium concentrations exceeding 200 ppm. The expanded Phase 1 Exploration Program involved nearly 200 samples, with some showing lithium levels as high as 1,295 ppm. The company plans to conduct core drilling in early 2023 to further evaluate the property, aiming to define lithium resources within the identified target area of 1,003 acres. A NI 43-101 Technical Report is forthcoming in the new year.
Ameriwest Lithium Inc. (CSE: AWLI) (OTC: AWLIF) announced promising results from a magnetotelluric survey at its Edwards Creek Valley Property in Nevada. The survey suggests a potential shallow brine target covering about 20 square kilometers, with depths between 100 to 200 m. The Company plans to conduct drilling to assess this target. The findings indicate the presence of low resistivity zones, potentially indicating lithium-bearing brine, although commercial viability remains unproven. The Edwards Creek Property encompasses 22,200 acres of claims.
Ameriwest Lithium Inc. (CSE: AWLI) announced the conditional approval from the Canadian Securities Exchange (CSE) for its Plan of Arrangement with ISM Resources Corp. ISM Shares will begin trading on September 29, 2022, under the ticker symbol 'ISM'. This Arrangement aims to enable Ameriwest to concentrate on four lithium projects in Nevada and Arizona, while spinning out non-lithium mineral claims to ISM. Shareholders will receive one quarter of an ISM Share for each Ameriwest Share held. The Arrangement remains subject to final CSE approval.
Ameriwest Lithium has received six new mineral exploration permits from the Arizona State Land Department, expanding its exploration area in the Thompson Valley Property to approximately 3,410 acres, nearly doubling its total mineral rights to over 6,890 acres. The second Geologic Field Operation Plan has been approved, increasing the surface sampling program from 50 to about 300 samples. The company is planning a drilling program to determine lithium-bearing strata depth. Additionally, Ameriwest has filed NI 43-101 Reports for its gold projects, with a planned separation into two independent companies expected to complete in Q3 2022.