American Lithium Corp. signed a deal to acquire the lithium-prospective Gap-Lode project in Nevada by purchasing owner 1134989 B.C. Ltd. for 6 million common shares, according to a March 8 American Lithium statement.
The 3,575-acre Gap-Lode project comprises 167 contiguous claims and its acquisition is intended to expand American Lithium's Fish Lake Valley lithium property in the state. The transaction's completion and issuance of shares remain subject to certain conditions, including the approval of the TSX Venture Exchange.
After completion, American Lithium plans to start an integrated geologic and geochemical study of Gap-Lode to identify potential target zones and relative lithium concentrations in those zones, along with a detailed analysis of historical data over the area.
