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ACME Lithium Inc. (CSE: ACME) (OTCQB: ACLHF) (the "Company", or "ACME") is pleased to report that it has received positive results for potential lithium-brine from Hasbrouck Geophysics after the Company completed its Phase 2 Hybrid Source Audio-Magnetotellurics (HSAMT) survey at ACME's Clayton Valley Lithium Project. The results of the previous gravity and recent HSAMT surveys have prioritized key drill locations to test for lithium concentrations within groundwater brines.
ACME's project is contiguous to Albemarle's Silver Peak lithium resource and production facility. Lithium source material and transport mechanisms for ACME's CC, CCP, JR and SX claims are present and could be similar to those that have supplied Clayton Valley lithium-bearing brines and may be conducive to increased lithium-bearing brine concentrations.
Key Highlights of the Hasbrouck Report Include:
- Based on low resistivity values, multiple areas and zones are interpreted to correlate to lithium-brine occurrences in saline rich aquifers or brine saturated pebble gravel.Â
https://acmelithium.com/wp-content/uploads/2021/11/Clayton-Valley-Bedrock-Depth.png - The geophysics program consisted of 50 separate HSAMT readings over seven lines covering approximately 9.5 kilometers.Â
https://acmelithium.com/wp-content/uploads/2021/11/Clayton-Valley-Survey-Proposed-Well-Locations.png - Three exploratory bore holes are recommended to investigate these anomalies in a large target area of lithium brine potential up to 600 meters.
- Prior borehole sampling close to and east of the claims has found lithium-brine present from 85 meters to the total borehole depth of 370 meters with higher concentrations within pebble gravel. It is unknown if the pebble gravel continues beyond the total depth drilled at the borehole.
- Zones with resistivities less than a 2.5 ohm-meters cut-off, that are interpreted to correlate to zones with increased salinities and/or possible lithium-brine occurrence, are present primarily in the east and southeast portions of the claims area and cover a larger area from near the surface to around 340 meters below ground surface. Zones with those resistivities are still present to approximately 740 meters although areal coverage decreases beyond about 340 meters.
- A small area with resistivities less than about 2.5 ohm-meters is present near the north-central portion of the claims area at depths greater than about 360 meters and extending to approximately 600 meters.
ACME is in the process of securing its drilling contractor, additional technical advisors as well as permits required for a targeted Q1 2022 drill program and will provide further updates as new information comes available.
ACME underscores the brine potential of its claims and based on results, will evaluate processing Lithium Hydroxides utilizing the latest DLE (Direct Lithium Extraction) methodologies, one of which Pure Energy Minerals and strategic investment partner Schlumberger with Panasonic are implementing in Clayton Valley a few miles south of ACME's project.
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 provides 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.
ACME Lithium is a mineral exploration Company engaged in the business of acquiring, exploring and evaluating natural resource properties. The Company has acquired or is under option to acquire a 100-per-cent interest in 122 claims encompassing approximately 2,440 acres, comprising the CC, CCP, JR and SX placer lithium claims, located in Clayton Valley, Esmeralda County, Nevada. ACME also holds a 100-per-cent interest in the FLV claims, being 144 lode mining claims totaling approximately 2,921 acres, in Esmeralda County, Nevada, which are prospective for lithium contained in tertiary claystones.
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.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/102764
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