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Carson City, Nevada–(Newsfile Corp. – January 31, 2023)- ACME Lithium Inc. (CSE: ACME) (OTCQX: ACLHF) (the “Company” or “ACME”) is pleased to announce that Phase 2 drilling has commenced at ACME’s Clayton Valley lithium brine project, Nevada. ACME’s Clayton Valley Nevada lithium brine project is northwest adjacent to Albemarle’s Silver Peak lithium deposit, which has been in production since 1966 and is the only lithium producing region in the United States.
Drilling in Clayton Valley, Nevada (Fig. 1)
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Following the announcement of the lithium brine discovery from ACME’s Phase 1 drill program on August 17, 2022, the Company has now initiated a Phase 2 multi-hole drill program at its Clayton Valley Lithium Brine Project, Nevada.
Key Highlights:
- The Phase 2 drill program includes the drilling, installation and testing of a large diameter test well (TW-1).
- A pumping test will be conducted from TW-1 to assess the hydraulic response, permeability and storage parameters of the lithium-enriched aquifer.
- An intensive multi-element brine sampling program will be conducted during the TW-1 pumping test to assess the hydrochemical response to the pumping.
- The program includes up to three (3) new exploration holes DH-1A, DH-2 and DH-3 with the objective of testing deeper horizons through zonal isolated testing, evaluating the stratigraphy and the potential for continuity between the stratigraphic units encountered in the DH-1.
- Exploration holes will be terminated with cast-in vibrating wire piezometers to further assess the hydrogeology of the project area, monitor long-term water levels and potential response to local and regional pumps.
- Operator GeoXlpor Inc. has retained Harris Drilling Exploration and Associates Inc. to provide drilling services and support testing.
Phase 2 will test the characteristics of the highly prospective lithium brine aquifer in the lower gravel unit intersected in hole DH-1. The program will focus on characterizing the potential vertical and lateral extension of lithium brines in deeper gravels near bedrock contact. The program will evaluate the potential for continuity with the Clayton Valley regional lithium brine reservoir.
ACME is well funded by strategic investors and positioned to achieve its exploration and development goals in the near term with the goal of providing domestic lithium supply to the US and Canadian markets.
ACME’s project location adjacent to or in the vicinity of 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 support and additional data to the exploration work being conducted by ACME.
William Feyerabend, a Certified Professional Geologist, is a Qualified Person as defined by NI 43-101 and has supervised the preparation of the scientific and technical information on which this news release is based.
About ACME Lithium Inc.
Led by an experienced team, ACME Lithium is a mineral exploration company focused on acquiring, exploring and developing battery metals projects in partnership with leading technology and resource companies. ACME has earned or has an option to earn 100% interest in projects in Clayton Valley and Fish Lake Valley, Esmeralda County, Nevada, Shatford, Birse and Cat-Euclid Lakes in southeastern Manitoba and Bailey Lake Participation in these projects North Saskatchewan.
On behalf of the Board of Directors
Steve Hanson
Chief Executive Officer, President and Director
Phone: (604) 564-9045
[email protected]
Neither the CSE nor its regulatory service providers accept responsibility for the adequacy or accuracy of this press release. This press 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 “expect,” “plan,” “anticipate,” “believe,” “intend,” “estimate,” “project,” “potential.” ‘ and similar expressions or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’ or ‘should’ occur and as used in this release include, but are not limited to, the attributes ‘timing for’ and anticipated benefits from exploration, drilling or development on ACME’s project properties. Information derived from the interpretation of drilling, sampling and other technical results may also be considered forward-looking statements because they represent a prediction of what may exist if and if a project is actually developed. ACME’s project location adjacent to or in the vicinity of 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 support and additional data to the exploration work being conducted by ACME. These forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient funds to fund the proposed work in a timely manner and on acceptable terms; changes in planned work due to weather, logistical, technical or other factors; the possibility that work products will not meet expectations and fulfill the perceived potential of the Company’s properties; risk of accidents, equipment failure and labor disputes or other unforeseen difficulties or disruptions; the possibility of cost overruns or unforeseen expenses in the work programme; the risk of environmental pollution or damage arising from the Company’s operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date on which it is made and, except as required by applicable securities laws, the Company disclaims any intention or obligation to update any forward-looking statement, whether as a result of new information or future events or results or other.
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