The lithium exploration and development space has grown at an impressive pace in recent years and one of the well known operators in that space in North America is Ameriwest Lithium Inc (OTCMKTS:AWLIF). In the past week, the Ameriwest stock has been one of the notable laggards and has declined by as much as 20% during the period.
That being said, the company a major announcement yesterday and investors ought to take a look at it. Ameriwest announced that it got a highly positive geophysics report with regards to lithium brine concentrations at the Deer Musk East property. The property is situation in Clayton Valley in Nevada.
The report, which was prepared by Advanced Geoscience Inc and titled “Geophysical Exploration for Deer Musk East Claim Area”, concluded that there was ‘strong likelihood’ of lithium brine deposits at the property. However, it should be noted that the report also indicated that the company should conduct more geophysics studies for the property in order to get a better idea about the brine deposits. It was a major development for the company and it now remains to be seen if the news about this report leads to further interest in the Ameriwest stock among investors or not.