American Lithium Corp. has reached an agreement with certain arms-length vendors to acquire 431 acres of privately held agricultural lands, along with the accompanying 1,468 acre-feet of water rights, in the Big Smoky Valley near Tonopah, Nev., close to the company’s Tonopah Lithium Claims (TLC).
The sales price was $3.13 million.
This latest agreement follows an earlier purchase in 2020 of a nearby 326-acre private ranch, also in Big Smoky Valley, which provides American Lithium with access to 1,110 acre-feet of water rights. The outright ownership of both properties will provide close to 2,500 acre-feet of combined water rights, which should provide sufficient water for at least the initial phases of any future production at TLC and a strong base for any future expansion phases. The water can be transported by buried pipeline to TLC utilizing existing public access routes. The water rights acquired with the land purchase may also be transferred th