March 16, 2010 (FinancialWire) — AmeriLithium (OTCBB: AMEL) said it has recently acquired 100% of the assets of the Paymaster Project, Paymaster Canyon, Esmeralda County, Nevada. The acquisition totals around 80 separate contiguous claims in this lithium-mining region, according to the company.

AmeriLithium said  Clayton Valley is home to the only U.S.-based lithium producing plant.  The plant has been in production since 1967, producing an estimated 50 million kg of lithium to date.

The Paymaster Canyon is an inter-mountain structure in west-central Nevada. The canyon has a playa floor of about 10 square miles that receives surface drainage from an area of about 50 square miles.

Nevada-based AmeriLithium is an independent mining company that reports having a lithium portfolio consisting of ~670,000 acres, including a Nevada-based project adjacent to the only lithium producing plant in the U.S. and a large project in Alberta, Canada.

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