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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.
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.