ACME Lithium Inc. (CSE: ACME) (OTCQX: ACLHF) (the "Company", or "ACME") is pleased to provide a corporate update regarding its upcoming Phase 2 multi-hole drill program at its Clayton Valley Nevada lithium brine project.
Following ACME's lithium brine discovery announcement on August 17th, 2022, the Phase 2 drill program and NOI covers 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.
- ACME has received notice from its operator GeoXplor that it has received approval for three Dissolved Mineral Resource Exploration (DMRE) Borehole Permits submitted to the Nevada Division of Minerals (NDOM), in addition to the already approved Notice of Intent "NOI" permit to drill with the Bureau of Land Management.
- A US$63,144 bond has been put in place with the BLM to cover reclamation of up to 2.2 acres of permitted disturbance.
- Harris Drilling Exploration and Associates Inc. has been contracted to provide drilling services and related activities.
- Project geologists are at Silver Peak meeting with equipment operators and have commenced road and drill pad preparations, as well as the expansion of on-site facilities to accommodate core logging and brine storage in anticipation of the December Phase 2 drill program.
ACME will provide further updates once the drilling contractor has mobilized, and drilling commences.
Based on prior Clayton Valley drilling experience, intercepting a high-flow lithium enriched brine horizon marking the gravel/bedrock contact, ACME's team is particularly focussed 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 producing region in the United States.
ACME is well funded by strategic investors and positioned to complete its exploration and development objectives through 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 Shatford Lakes, Birse Lake, and Cat-Euclid 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.
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