ACME Lithium Inc. (CSE: ACME) (OTCQX: ACLHF) (the "Company", or "ACME") is pleased to provide a corporate update at its Shatford, Birse, and Cat-Euclid Lake project areas in the Winnipeg River pegmatite region. ACME's land holdings in southeastern Manitoba comprise approximately 17,000 acres or 70 square kilometres.
ACME completed an extensive summer exploration program employing remote sensing, structural geology, ground-based geological mapping, and geochemical sampling to localize targets for drilling. Our exploration focus is on spodumene-bearing LCT pegmatites that are a source for high quality lithium that can be converted to lithium carbonate.
- Concurrent with field mapping and prospecting, Dias Airborne Ltd. carried out a high-resolution airborne full tensor magnetic gradiometer (FTMG) survey over two survey areas on the Shatford, Birse, and Cat-Euclid Lake project areas using Dias' QMAGT system.
- The geophysical program was designed to map and characterize the variation in magnetization throughout the survey area towards interpreting structure, lithology, and alteration. A total of 1,991 line-km of airborne FTMG data were acquired on lines spaced 65 m apart.
- Mira Geoscience has been contracted to interpret the FTMG survey data.
- Priority 1, 2, and 3 drill targets from multiple sites have been identified and include numerous pegmatites, some of which were undocumented prior to the summer program.
- The Shatford – Winnipeg River structure is analogous to the Bernic Lake high strain zone that is interpreted to be related to the Tanco pegmatite.
- A priority area, referred to as Shatford East, is part of an approximately 6 km curvilinear structural feature on the claim block with multiple observations of pegmatites containing anomalous lithium.
- ACME's winter drilling work program is in the late stages of permitting with the government of Manitoba.
- Procurement of equipment, subcontractors, and site planning is ongoing with the expectation that a Phase 1 drill program will commence in late December 2022 or January 2023 subject to permitting.
ACME's Shatford Lake and Birse Lake claim areas are located strategically and contiguous to the south of Sinomine Resource Group's world class Tanco Mine, a Lithium, Cesium and Tantalum producer (LCTs) since 1969, located in the pegmatite fields of the southern limb of the Bird River Greenstone Belt (BRGB). ACME's Cat-Euclid Lake project claims are approximately 18 kilometers to the north of the Tanco Mine.
The northern and southern limbs of the Bird River Greenstone Belt contain at least 10 pegmatite fields and host hundreds of individual pegmatite bodies, of which many are classified as complex rare-element Lithium-Cesium-Tantalum (LCT) pegmatites. In both limbs of the BRGB, pegmatites are associated with granitic intrusions into structurally dilatant zones adjacent to major belt parallel shear zones. Worldwide, LCT pegmatite deposits account for about one-fourth of the world's lithium production, most of the tantalum production, and all the cesium production.
Dane Bridge, P. Geol. 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 Birse, 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. 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/146286