In recent years Clayton Valley has become a hot-spot for lithium exploration as several companies have exhibited exploration success:
Ameriwest Lithium believes that its Deer Musk East project sits within the same structural basin as it’s neighbors.
A promising early-stage lithium property located in Nevada’s Clayton Valley. A closed basin playa surrounded by mountains, the Clayton Valley playa floor is approximately 40 square miles (100 square kilometers). Most importantly, lithium exists on adjacent properties within this same geological basin.
Geological similarity of this property to other adjacent or nearby properties does not guarantee exploration success. No mineral resources or reserves, as defined by National Instrument 43-101 standards or CIM standards have yet been delineated on the property.
A majority of Ameriwest’s unpatented placer mining claims (an estimated 292 of 371 claims partially or fully overlap) are located on federal public lands on which another party, Authium LLC, previously recorded certificates of location for unpatented lode mining claims. Ameriwest believes that any brine and sedimentary lithium clay deposits on Ameriwest’s mining claims are properly located as placer mining claims under US federal law. Ameriwest believes that Authium’s claims are improperly staked as lode claims and therefore invalid. Both companies have filed lawsuits against the other which will require the courts to determine the validity of their claims, should a settlement not be reached prior to going to court.
A concern to future development of the DME will be securing water rights. Exploration for lithium in sedimentary or brine deposits, which includes drilling and pump testing, can be performed through temporary discharge permits. Should Ameriwest conduct exploration and ultimately define mineral resources or mineral reserves (note that none are currently defined on the property), the company will have to be concerned about availability of water rights. This can potentially be addressed through acquisition of water rights from other holders, permitting of new water rights (if there is availability at the time), and through selection of technology that minimizes water use and recycles water. Potentially the company could look to option, joint venture, or sell the property to a company that has water rights in the valley.
The scientific and technical information regarding this project has been reviewed and approved by Robert Pease, CPG, acting as a Qualified Person for Ameriwest as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
Statements are based on information currently available to the Company and the Company provides no assurance that actual results and future performance and achievements will meet or not differ from the expectations of management or qualified persons. All statements other than statements of historical fact are forward-looking statements. The words “believe,” “will,” “may,” “may have,” “would,” “estimate,” “continues,” “anticipates,” “intends,” “plans,” “expects,” “budget,” “scheduled,” “forecasts” and similar words are intended to identify estimates and forward-looking statements. Forward-looking statements are not guarantees and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Actual results and developments may be substantially different from the expectations described in the forward-looking statements for a number of reasons, many of which are not under our control, among them, exploration results, the activities of our competition, the future global economic situation, weather conditions, market prices and conditions, exchange rates, and operational and financial risks. The unexpected occurrence of one or more of the abovementioned events may significantly change the results of our operations on which we have based our estimates and forward-looking statements. Our estimates and forward-looking statements may also be influenced by, among others, legal, political, environmental or other risks that could materially affect the potential development of the Project, including risks related to outbreaks of contagious diseases or health crises impacting overall economic activity regionally or globally.
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