Carson City, Nevada – October 20, 2022 (Newsfile Corp.) (Investorideas.com Newswire) ACME Lithium Inc. (CSE: ACME) (OTCQX: ACLHF) (the “Company”, or “ACME”) is pleased to report that it has filed permitting documentation for an expanded Phase 2 drill program with the Bureau of Land Management (BLM) for ACME’s Clayton Valley lithium brine project in Esmeralda County, Nevada. In addition, ACME has secured Harris Exploration for drilling services.
ACME’s current and ongoing program at Clayton Valley is operated by GeoXplor Corp., one of the industry’s early leaders in lithium exploration and development in Nevada and their long-standing team of technical contractors. Upon approval and receipt of permits, ACME is targeting to drill its Clayton Valley Lithium project in late Q4 2022 and will provide further updates as new information comes available.
Following ACME’s lithium brine discovery announcement on August 17th, 2022, the Phase 2 drill program will include a large diameter test well (TW-1) for completion of brine aquifer permeability testing and sampling and will also include up to three (3) new exploration holes DH-1A, DH-2, and DH-3 with objectives to examine deeper horizons through zonal isolated testing, assess stratigraphy, and the potential for continuity between the stratigraphic units encountered in DH-1. The Phase 2 exploration holes will be completed with fully grouted vibrating wire piezometers which will be used to monitor aquifer response during future pumping tests.
Based on prior Clayton Valley drilling experience of intercepting a high-flow brine horizon marking the gravel/bedrock contact, ACME’s team is particularly focused on advancing drilling to test this highly prospective brine zone. ACME’s Clayton Valley, Nevada lithium brine project is contiguous to the northwest of Albermarle’s Silver Peak lithium deposit which has been in production since 1966. Located in one of the best resource jurisdictions in the world, Clayton Valley is the only lithium brine producing region in North America.
ACME is well funded by strategic investors and positioned to complete its exploration and development objectives thru the near term with the goal of providing a domestic supply of lithium to the US and Canadian markets.
William Feyerabend, Certified Professional Geologist, is a qualified person as defined by NI 43-101, and has supervised the preparation of the scientific and technical information that forms the basis for this news release.
About ACME Lithium Inc.
Led by an experienced team, ACME Lithium is a mineral exploration Company focused on acquiring, exploring, and developing battery metal projects in partnership with leading technology and commodity companies. ACME has acquired or is under option to acquire a 100-per-cent interest in projects located in Clayton Valley and Fish Lake Valley, Esmeralda County Nevada, and at Cat-Euclid and Shatford Lakes in southeastern Manitoba.
On behalf of the Board of Directors
Chief Executive Officer, President and Director
Telephone: (604) 564-9045
Neither the CSE nor its regulations service providers accept responsibility for the adequacy or accuracy of this news release. This news release may contain forward-looking information within the meaning of applicable securities laws (“forward-looking statements”). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur and in this news release include but are not limited to the attributes of, timing for and expected benefits to be derived from exploration, drilling or development at ACME’s project properties. Information inferred from the interpretation of drilling, sampling and other technical results may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. ACME’s project location adjacent to or nearby lithium projects does not guarantee exploration success or that mineral resources or reserves will be defined on ACME’s properties. Exploration, development, and activities conducted by regional companies provide assistance and additional data for exploration work being completed by ACME. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company’s properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from the Company’s operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.