American Lithium Corp (TSXV: LI) is an exploration company that acquires and develops lithium deposits.
In May 2021, the exploration-stage firm merged with Plateau Energy Metals Inc, formerly listed on TSXV, to create a global developer of energy metals. Two of the world’s largest lithium projects were reportedly combined following the mega-merger, and Plateau became a wholly owned subsidiary.
American Lithium Corp acquired all the issued and outstanding shares of the energy firm.
Plateau Energy Metals is a metal exploration and development entity that earlier owned two significant projects: The Macusani uranium project and the Falchani lithium project in Southeastern Peru. With this merger, the Canadian company aims to diversify and expands its asset portfolio. In addition, Plateau’s shares were delisted from TSX Venture.
Now the combined entity aims to advance the operations at the Falchani Lithium Project and Macusani Uranium Deposit.
The company’s projects in Naveda include the TLC Lithium project, an underdeveloped basin consisting of significant lithium sedimentary deposits. The energy metal firm claims that the TLC Lithium’s geology is similar to Silver Peak Lithium Mine of Albemarle Corporation (NYSE: ALB) and many advanced-stage lithium projects.
The TLC project has vast near-surface deposits covered on 3,343 hectares of land. The company claims that measured and indicated resources account for 5.37 million tons and 1.76 million tons of inferred resources.
Through the project, the company extracts and produces battery-grade lithium. It claims that the near-surface resource is accessible at a low-cost and deploys sustainable mining methods.
American Lithium’s Peruvian consists of newly acquired two assets from Plateau Energy.
The company claims that the Falchani Lithium project is reportedly the world’s sixth-largest hard rock lithium deposit. Its existing resources consists of 0.96 million tons of indicated lithium resources and 3.74 MT of inferred resources. The activities at the Falchani project comprises battery-grade lithium production and low-cost exploration. In addition, by-products such as cesium and rubidium are also explored, the firm claims.
The exploration company claims that the newly acquired Macusani Uranium Project is reportedly the fifth-largest uranium deposit globally. The underdeveloped property shows indicated resource of 52.9 million pounds and inferred resources of 72.1 million pounds, reportedly.