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American Potash stakes additional claims near existing Utah lithium holdings

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American Potash stakes additional claims near existing Utah lithium holdings

American Potash Corp. said Jan. 26 that it staked an additional 151 federal lithium placer mining claims, totaling 3,020 acres in Utah's Paradox Basin.

The newly acquired lithium claims are located within and around the company's existing lithium claims and Utah state lithium leases in the north and northeast sections of its approximately 27,156-acre Federal Potash Prospecting Permit Application area.

The claims effectively tie the previously located lithium claims and four Utah state lease blocks into a contiguous block of lithium holdings totaling some 9,040 acres.

The company's near-term goals include the completion of at least two exploration wells designed to test both potash cycle 5 and several potential lithium-enriched brine aquifers in the Paradox Formation of the Paradox Basin beneath their lithium and potash claim/permit areas.

American Potash also control an additional seven separate, noncontiguous Utah state lithium leases totaling approximately 4,480 acres that are outside the aforementioned 9,040-acre lithium holdings block.