The project’s 65 placer mining claims total about 2,450 acres, covering the center of an identified gravity low to the east of Nevada’s lithium-producing Clayton Valley.

The stock-only transaction included AmeriLithium granting a 2% net smelter royalty (NSR) to the seller, whereby 1% of the NSR is subject to buyback at any time by AmeriLithium for $500,000.

The project lies to the immediate east of the Montezuma range, and to the immediate west of the range lies the Clayton Valley playa, where lithium-rich brines and evaporates have been accumulating for more than 30,000 years, AmeriLithium said.