ACME Lithium Inc. (CSE: ACME) (OTCQB: ACLHF) (the "Company", or "ACME") is pleased to announce that it's project operator GeoXplor Corporation has received a letter of approval under a "Notice of Intent to Drill" ("NOI") from the United States Bureau of Land Management (BLM), Tonopah field office Nevada, for ACME's near term drill program at its Clayton Valley lithium brine project.
The Notice of Intent (NOI) covers a multi-hole drill program up to a depth of 500 meters and focuses on the most prospective lithium brine targets as defined by recent geophysical work, in addition to drill road access and site preparation. A US$24,197 bond has now been accepted and put in place with the BLM to cover reclamation of up to 3.55 acres of permitted disturbance.
ACME is in the final stages of completing the preparatory work required to commence drilling operations including securing drilling and hydrogeological services, as well as additional permits required.
ACME's project is contiguous to Albemarle's Silver Peak lithium resource and production facility. ACME's lithium source material and transport mechanisms could be similar to those that have supplied other Clayton Valley lithium-bearing brines. 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.
On November 10th, ACME announced that it had received positive results for potential lithium-brine from Hasbrouck Geophysics, a leading and experienced technical group operating in Clayton Valley over the last ten years. ACME completed its Phase 1 Gravity Survey and Phase 2 Hybrid Source Audio-Magnetotellurics (HSAMT) survey this past fall 2021. Based on low resistivity values, multiple areas and zones were interpreted to correlate to lithium-brine occurrences in saline rich aquifers or brine saturated pebble gravel.
ACME's project location adjacent to or nearby lithium brine 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.
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 in southeastern Manitoba.
On behalf of the Board of Directors
Chief Executive Officer, President and Director
Telephone: (604) 564-9045
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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 exercise of the Option, the undertaking of any expenditures on the Project Claims, including drilling thereof. 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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