American Lithium raises resource confidence of Nevada project

American Lithium (TSXV: LI) says it has raised the confidence level of its Tonopah Lithium Claims (TLC) resource in Nevada with a new estimate that converted a significant portion into the measured category.The newly refined resource block model is based on a re-interpretation of geologic controls on mineralization from an additional 44 holes drilled at TLC since the mineral resource estimate (MRE) filed in January 2023.The new MRE outlined a measured resource of 6.17 million tonnes in lithium carbonate equivalent (LCE), representing a 47% increase over the previous estimate. With the successful resource conversion, the other categories fell accordingly. The indicated resource was 48% lower at 2.39 million tonnes, while the inferred resource fell 22% to 1.44 million tonnes.“We are very pleased with the newly established and upgraded measured resource footprint at TLC, as it not only increases the resource confidence level in the measured category but also represents the core of the 2024 PEA mine plan,” commented American Lithium’s interim CEO Alex Tsakumis.The PEA (preliminary economic assessment) released in 2023 envisioned a 40-year claystone lithium project at TLC producing 38,000 tonnes of battery-grade LCE annually on average. The project’s after-tax net present value is estimated at $3.26 billion (at an 8% discount), with an internal rate of return of 27.5% and a payback period of nearly 4 years. The initial capital cost is $819 million.The TLC claims are located about 9.6 km northwest of the town of Tonopah, within the Big Smoky Valley region that is known for producing Nevada’s silver and molybdenum.In Peru, American Lithium is also developing a second advanced-stage lithium project at Falchani, with a similar resource in LCE terms (nearly 10 million tonnes) but a higher NPV at $5.1 billion.Shares of American Lithium traded 3.4% lower on Friday morning at C$0.42 apiece, for a market capitalization of C$92.6 million.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com