Buckley Flat Graphite Assay Results

Rhea-AI Summary

American Lithium Minerals (OTC PINK: AMLM) has announced positive assay results from initial sampling at its Buckley Flat Graphite property in Nevada. The sample analysis revealed a 1.52% Carbon content, significantly higher than the average crustal abundance of 0.02%, and comparable to other advanced graphite projects. The property, acquired in 2022, covers 80 acres and is located near Hawthorne, Nevada, about 110 miles from Tesla's Gigafactory in Reno. With rising demand for graphite in lithium-ion batteries, AMLM plans further rigorous geochemical work over the next 12 months.

Positive

• Assay results show a significant Carbon content of 1.52%, higher than the average crustal abundance of 0.02%.
• The Buckley Flat property is strategically located 110 miles from Tesla's Gigafactory in Reno.
• The rising demand for graphite, particularly for use in lithium-ion batteries for electric vehicles, supports the project's potential.
• AMLM plans rigorous geochemical work over the next 12 months, indicating continued investment and research into the property.

Negative

• The reported Carbon content of 1.52% is still lower than the 5.1% average grade of another advanced graphite project in Alaska.
• No previous graphite mining operations have taken place in the US since 1990, potentially indicating challenges in reviving the industry.
• Initial sampling was taken from dumps of the Main Shaft, which may not fully represent the overall potential of the property.

LAS VEGAS, NV / ACCESSWIRE / May 22, 2024 / American Lithium Minerals (OTC PINK:AMLM) is pleased to announce that it has received encouraging assay results from initial sampling at its Buckley Flat Graphite property.

Rising Demand for Graphite

According to a recent report, Graphite is deemed a critical material by the US, and about a century ago it was mined abundantly in the country, mostly in Alabama. However, there has been no Graphite mining in the United States since 1990, when United Minerals suspended operations at its graphite mine in Montana. As a result, the US now imports all of its graphite, mostly from China, with additional imports from Mexico, Canada and India.

Graphite is used in batteries, brake linings, lubricants, powdered metals, refractory applications and steelmaking.

Demand for graphite is rising because it is used in lithium-ion batteries for electric vehicles. Lithium-ion batteries typically contain 10 to 30 times more graphite than lithium. Graphite is also necessary for sodium-ion batteries.

Reportedly, Tesla's Reno gigafactory and mission to source materials from North America have played a significant role in growing calls for US-produced graphite. The company is planning to add additional gigafactories in the coming years, and other manufacturers are following suit.

AMLM's Buckley Flat Graphite Property

AMLM's Buckley Flat Graphite project is located near Hawthorne, in Mineral County, Nevada. The property is comprised of four unpatented lode mining claims (80 acres) on land administered by the US Bureau of Land Management. The property is about midway between Reno and Tonopah, Nevada, and is accessed by Nevada State Route 839 from US Hwy 50 or US Hwy 95. It is about 110 miles (2-hour drive) from the Tesla Gigafactory.

Buckley Flat is one of a small handful of documented Nevada Graphite occurrences. AMLM acquired the property by staking in 2022. There are a number of historical mine shafts and prospect pits. A composite grab sample of several pieces of mineralized rock was taken from the dumps of the Main Shaft by AMLM personnel.

The sample was submitted to the ALS Reno office, where the sample was crushed, split, pulverized and analyzed for Carbon by IR Spectroscopy. Quality Control procedures were followed using both a blank sample and a duplicate sample.

The sample assayed 1.52% Carbon. AMLM views this result as very encouraging. It is highly anomalous as the average crustal abundance of Carbon is only 0.02%. The 1.52% Buckley Flat assay result is also in the same order of magnitude as the reported 5.1% average grade for an advanced Graphite exploration project of another company in Alaska. AMLM believes that Buckley Flat deserves rigorous geochemical work, to be carried out over the 12 months.

About American Lithium Minerals, Inc.: AMLM is a Nevada-based lithium exploration company with five (5) lithium projects in Central Nevada (Sarcobatus, Stonewall Flat, West End, Silverpeak and Claystone Hills). AMLM also has four (4) projects in Nevada, Arizona and Illinois for other battery metals, named Blue Bull Cobalt, Nickel and Manganese; Buckley Flat Graphite; Kingman Rare Earth and Hicks Dome Rare Earth.

Contact:
Barbara Bauman, President
702-533-8369
American Lithium Minerals, Inc.

SOURCE: American Lithium Minerals, Inc.

View the original press release on accesswire.com

FAQ

What are the assay results from American Lithium Minerals' Buckley Flat Graphite property?

The assay results from the Buckley Flat Graphite property revealed a 1.52% Carbon content.

Where is American Lithium Minerals' Buckley Flat Graphite property located?

The Buckley Flat Graphite property is located near Hawthorne, in Mineral County, Nevada.

Why is demand for graphite rising?

Demand for graphite is rising due to its use in lithium-ion batteries for electric vehicles and other industrial applications.

How does the 1.52% Carbon content at Buckley Flat compare to other graphite projects?

The 1.52% Carbon content at Buckley Flat is higher than the average crustal abundance of 0.02% but lower than the 5.1% average grade of another advanced graphite project in Alaska.

What are the future plans for the Buckley Flat Graphite property?

American Lithium Minerals plans to conduct rigorous geochemical work at the Buckley Flat Graphite property over the next 12 months.