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AmeriLithium Corp. (OTCBB:AMEL) announced the completion of geophysical studies in three properties in Western Australia for the purpose of identifying possible gold mineralization in addition to possible lithium resources.
As quoted in the press release:
The interpreted results from the geophysical study indicate geology that is consistent with [Ausgold Limited’s nearby 5-million-ounce (Moz) Katanning gold discovery]. In particular, AmeriLithium’s Bare Rocks license block is considered highly prospective due to a series of structural features (faults and shear zones) that appear to be relatively unique for the Katanning area. Analysis of the existing geophysical data also identified 13 viable exploration drill targets.
AmeriLithium CEO Matthew Worrall said:
“While our main focus remains our lithium projects in Nevada, our JV with Strategic Resource Management continues to enable us in exploring and developing our Australian holdings. And with the geophysical study pointing to the potential for gold mineralization, we’re looking forward to moving ahead with our 2012 drilling program to better assess the gold and lithium potential of our holdings.”
Click here to read the AmeriLithium Corp. (OTCBB:AMEL) press release
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