AMLM, American Lithium Minerals Inc., AMLM.OBAccording to the USGA, demand for lithium destined for battery usage is predicted to grow by 20% per year and overall demand for lithium is growing at a rate of 4-5% per year.
Lithium is anticipated to lead the charge toward green energy. Presidential Candidate, Barack Obama said during the election process that (my) "Number one priority when I get into office (will be) finding the new driver of our economy... There's no better driver that pervades all aspects of our economy than a new energy economy."
And now BP has engendered America with a real desire to search for an alternate source of Energy, and lithium may just be that source.
** AMLM's Borate Hills Project is One of the World´s Premier Lithium Deposits **
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Lithium Rich, Ready for Development
AMLM's 100%-owned Borate Hills Project covers over 3,400 acres in a mineral-rich region of western Nevada. The project´s resource size, high lithium values, excellent road access, nearby rail/power infrastructure and Nevada´s pro-mining climate make Borate Hills one of the world´s premier lithium projects for future development.
The property lies just 20 miles west of Chemetall Foote's Lithium Brine Operation at Clayton Valley, Nevada, the only lithium mine currently operating in North America.
A Large, High-Grade Deposit
Borate Hills contains both boron and lithium mineralization in high grades and thick deposits, providing excellent potential to develop an economically viable project.
Known mineralization to date extends for at least 1.5 miles along surface, with lithium grades averaging 2,750ppm (or 0.275%). The deposit size and grade compare extremely well with other established lithium deposits worldwide.
The project is well advanced-US Borax identified a large deposit on the claims in the 1980s with thicknesses of up to 1300 feet. At the time, US Borax ranked Borate Hills as the second largest boron deposit in the United States (after their Kramer Borate mine in California).
Preparing for Project Feasibility by Spring 2011AMLM's intent is to invest US$4.5 million dollars over the next year to complete an economic pre-feasibility study on the Borate Hills Project to advance the project to the feasibility stage.
Phase I of the planned 2010 program will include surface sampling, reconnaissance drilling and metallurgical testing. Phase II will incorporate detailed drilling, a continuation of metallurgical test-work and a pre-feasibility study. Both the first and second phases are expected to be completed by Spring 2011.
South Borate Hills the Prime Target for Now
In their 1980's exploration, US Borax drilled 50,000 feet across 57 separate holes, some of which were drilled to a depth of 2,000 feet.
Although drilling began at North Borate Hills, discovery of the South Borate Hills Project in 1986 presented a larger project with higher lithium values.
Recent Sampling Backs up US Borax ResultsRecent surface sampling at South Borate Hills returned boron grades of over 1%, lithium grades of up to 0.275% and Strontium credits. All other metals concentrations were low including iron, which can be deleterious for processing.
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