Welcome to our dedicated page for Ameriwest Critical Metals news (Ticker: AWLIF), a resource for investors and traders seeking the latest updates and insights on Ameriwest Critical Metals stock.
Ameriwest Critical Metals Inc. reports company news centered on critical minerals exploration, property ownership and technical work across its North American project portfolio. Recurring updates cover the 100%-owned Bornite Property in Oregon, including claim expansion, historical data review, breccia pipe-style target generation, 3D geological modeling, geological consulting work and drill-target planning.
Other company updates describe the Xeno Rare Earth property in British Columbia, the Thompson Valley lithium clay project in Arizona, lithium property interests in Nevada, access arrangements, technical reports, financings and portfolio-level corporate updates tied to exploration and resource-development activities.
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.
Ameriwest Lithium Inc. (CSE: AWLI) (OTC: AWLIF) has announced a significant discovery of lithium at its Thompson Valley Property in Arizona. The Phase 1 Exploration Program, initiated in June, yielded assay results from 44 samples showing lithium concentrations ranging from 15 to 1,670 ppm Li. Notably, 27% of samples had lithium content exceeding 500 ppm. The company aims to conduct further surface sampling and drilling to define lithium resources, with plans to complete a drilling program by year-end, contingent on permits and conditions.
Ameriwest Lithium Inc. (CSE: AWLI, OTC: AWLIF) has acquired 178 unpatented lode mineral claims from Port Mercantile Holdings Ltd., expanding its Little Smoky Valley Property in Nevada to 282 claims covering approximately 5,600 acres. The transaction, which includes the issuance of 2.3 million shares and a payment of US$150,000, is pending regulatory approval. This acquisition is part of the company's strategy to enhance its lithium exploration efforts in Nevada and Arizona, and it is expected to contribute to future development opportunities for lithium resources.
Ameriwest Lithium Inc. (CSE: AWLI) has received approval from the Supreme Court of British Columbia for a statutory plan of arrangement to separate into two companies. Ameriwest will continue trading on the Canadian Securities Exchange, while ISM Resources Corp. will seek its own listing. The arrangement is expected to finalize in the third quarter of 2022, pending regulatory approvals. The company is focused on exploring multiple lithium properties across Nevada and Arizona, aiming to enhance its resource project portfolio.
Ameriwest Lithium Inc. (CSE: AWLI, OTC: AWLIF) announced approval from the Arizona State Land Department to start geological exploration at its Thompson Valley Property. This exploration, beginning June 13, 2022, will involve extensive soil and outcrop sampling. CEO David Watkinson expressed confidence in discovering significant lithium deposits, with a drill program expected in late Q3 to early Q4 2022. Additionally, Ameriwest staked 104 mineral claims in Little Smokey Valley, Nevada, adjacent to Clear Sky Lithium Corp.'s property, indicating potential for further lithium mineralization discovery.
Ameriwest Lithium Inc. (OTC: AWLIF) announced a Spin-Out of its non-lithium assets into ISM Resources Corp. on March 31, 2022. Through an Arrangement Agreement, existing shareholders will receive new Ameriwest shares and ISM shares. The company plans to conduct a non-brokered private placement of up to 10,550,000 ISM units at $0.10 each, with expected gross proceeds of $1,055,000. The Spin-Out is subject to shareholder and court approvals and ISM aims to list its shares on the Canadian Securities Exchange.
Ameriwest Lithium Inc. (CSE: AWLI, OTC: AWLIF) announced the acquisition of an additional 57 line-miles of seismic data from Seismic Exchange Inc., bringing the total to 83.7 line-miles. This data pertains to the 15,300-acre Railroad Valley property in Nevada, believed to have significant lithium brine potential. Recent analyses indicate the presence of a potential brine reservoir between 2,000 to 4,000 feet deep. The company aims to create a 3-D geological model to establish drill targets and plans to pursue drilling in 2022.
Ameriwest Lithium Inc. (CSE: AWLI, OTC: AWLIF) announced the completion of a Phase 2 Magnetotelluric geophysical survey at its Railroad Valley Property in Nevada. The survey results indicate potential for a substantial lithium brine deposit, with an area measuring approximately three miles by six miles. The company has staked 462 claims and acquired 224 additional claims, totaling 13,580 acres. The next steps include 3-D modeling and drilling a core hole to confirm lithium presence. Technical aspects are reviewed by Qualified Person David Watkinson.
Ameriwest Lithium has expanded its Edwards Creek Valley property, adding 414 claims for a total of 1,243 claims across 22,200 acres. This expansion follows a successful gravity geophysical study that revealed a significant gravity low, suggesting potential lithium brine deposits. While the company sees geological similarities to Clayton Valley, it is important to note that no mineral resources have been defined yet. Future studies, including additional geophysical surveys, are planned to further investigate the area's potential.
Ameriwest Lithium Inc. has announced the acquisition of 224 claims from American Battery Technology Company, expanding its Railroad Valley property to 686 contiguous claims over 13,580 acres. Geophysical studies indicate potential for a substantial lithium brine deposit in this area. CEO David Watkinson expressed excitement over the discovery of a large gravity low, which is interpreted as a depression likely containing lithium-rich sediments. The company plans further testing and drilling to assess the lithium potential, with a purchase price of USD 175,000 comprising cash and shares. Regulatory approval is pending.