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ACME Lithium Inc. (CSE: ACME) (OTCQX: ACLHF) (the "Company", or "ACME") and ASTERRA, an Israel-based satellite technology company are pleased to jointly announce that they have signed a teaming agreement, to utilize ASTERRA's Synthetic Aperture Radar (SAR) data analytics, patented algorithms and artificial intelligence, ("ASTERRA Technology") to identify lithium specific targets. ACME Lithium is the first in the United States to use ASTERRA's technology.
Further to the news release dated January 19, 2023, the recent geological field review and sampling program at Fish Lake Valley, Nevada resulted in the highest surface lithium values to date with up to 1325 ppm lithium. As a pilot project, identification of this particular high grade lithium target utilized ASTERRA's satellite-based technology.
The use of ASTERRA's technology produced approximately double the likely locations of lithium above 100 parts per million (ppm) over traditional methods of geochemistry exploration. These values were located at coordinates pinpointed by ASTERRA's satellite technology, with the results confirmed by an independent lab.
"This collaboration and initial case study with technology leader ASTERRA confirms historical and new lithium occurrences on the property and that certain areas are enriched in lithium. We are excited to move forward with ongoing work at multiple projects," added Steve Hanson, President and CEO of ACME Lithium.
"The use of ASTERRA technology in collaboration with ACME Lithium drives an unprecedented efficiency in the high-cost activity of identifying lithium showings and potential deposits," said Elly Perets, Chief Executive Officer of ASTERRA.
ASTERRA's complex artificial intelligence (AI) and machine learning algorithms extract the signal of lithium concentration underground from satellite-based PolSAR data and can potentially pinpoint locations containing various grades of lithium. This technology could give ACME a way to find targeted locations of lithium while potentially reducing exploration time and costs.
ACME and ASTERRA are currently evaluating a second project utilizing this new ground breaking technology.
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 ASTERRA
ASTERRA (formerly Utilis) provides geospatial data-driven platform solutions for water utilities, government agencies, and the greater infrastructure industry in the areas of roads, rails, dams, and mines. ASTERRA services use Polarimetric Synthetic Aperture Radar (PolSAR) data from satellites and turn this data into large-scale decision support tools. The company's proprietary algorithms, scientists, and engineers are the keys to their mission, to become humanity's eyes on the Earth. ASTERRA is investing in artificial intelligence (AI) to bring its products to the next level. Since 2017, ASTERRA technology has been used in over 64 countries, saving over 276,000 million gallons of potable water, reducing carbon dioxide emissions by 176,640 metric tons, and saving 690,000 MWH of energy, all in support of United Nations Sustainable Development Goals. ASTERRA is headquartered in Israel with offices in the United States, United Kingdom, and Japan.
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, at Shatford, Birse, and Cat-Euclid Lakes in southeastern Manitoba, and at Bailey Lake in northern Saskatchewan.
On behalf of the Board of Directors
Steve Hanson
Chief Executive Officer, President and Director
Telephone: (604) 564-9045
info@acmelithium.com
Neither the CSE nor its regulations service providers accept responsibility for the adequacy or accuracy of this news release.
Forward-Looking Statement
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/152540
