American Lithium Minerals (OTC:AMLM) Chief Executive Ryan Cunningham says the company is not a “one trick pony”, after acquiring multiple diversified projects across the world.
For the most part, the company focuses on gold, copper, and silver, as well as having one project prospective for lithium which was inherited when American Lithium was acquired.
This news comes after the company acquired the La Grande Plata and Furano projects in Chile.
La Grande Plata, covering 1,325 hectares, is a drill-ready asset with 39 permitted drill pads and roads constructed. The company plans to undertake a 2,000m drilling program.
Meanwhile, the Furano Project covers 9,000 hectares of exploration licences and is drill-ready with plans for a 1,500 to 2,000m program planned this year following induced polarisation surveys.
Cunningham explains that when it comes to acquiring a project, the company has different deal flows that come in through various channels.
“Sometimes guys will have a deposit that they want us to take a look at that’s really prospective,” he tells Mining.com.au.
“We make a judgement call on it. But when we’re doing offerings like we’re doing, we get cold contacts from people we don’t know with different projects.”
American Lithium Minerals, which has a wholly owned subsidiary American Mineral Resources, is looking to increase the assets on its books by closing transactions while also starting production.
“Thats our big goal when we take on a project is, do we see an actual avenue to get to production,” Cunningham notes.
“We’re looking for something that we can actually get in production in the next year to three years.”
As previously reported, the company is focusing on advancing its project portfolio from an evaluation and permitting phase into active execution.
Over the next three to six months, some of the activities include finalising drill plans, securing contractors, and completing any remaining regulatory or logistical requirements ahead of drilling.
American Lithium Minerals also adds that it all comes down to jurisdiction and a deposit’s grade when it comes to acquiring projects.
President Frank Kristan adds that the company is currently evaluating critical mineral projects, such as one in Québec, Canada, that is having due diligence carried out on right now.
“There are a couple of other projects that we’re looking at in that space,” Kristan says.
“We see an opportunity over the next couple of years, which is needed to focus the critical minerals away from China.”
Earlier this month, the company unveiled a US$20 million offering which will be running for the next 12 months. The funds will be deployed across its various projects in Canada and Chile.
Additionally, American Lithium Minerals is seeking to uplist to either the OTCQB Venture Market or Nasdaq, as reported.
Write to Aaliyah Rogan at Mining.com.au
Images: American Lithium Minerals
