ACME Lithium Completes Phase 1 Geophysical Survey Targeting Lithium Brine
Vancouver, British Columbia--(Newsfile Corp. - August 25, 2021) - ACME Lithium Inc. (CSE: ACME) (OTCQB: ACLHF) (the "Company", or "ACME") is pleased to report that Hasbrouck Geophysics has successfully completed Phase 1 of a two phase geophysical survey program at ACME's Clayton Valley project in Nevada. Phase 1 of the program entailed a gravity survey which included a total of 120 gravity stations acquired over the claim area on a grid of 250 meters. Processing, interpretation and analysis will commence immediately.
Data collected in the gravity survey will more accurately map variations in basin depth and topography, as well as map inferred geologic structures relative to the occurrence of lithium-bearing brine. This work will also provide key information for the design of additional geophysical surveys to be acquired over ACME's CC, CCP, JR and SX claim package.
Previously, reconnaissance gravity data had been acquired in Clayton Valley by Sierra Geothermal Power Corporation (under contract to the U.S. Department of Energy) ("Sierra") and GeoXplor Corporation ("GeoXplor"). The 2008 Sierra and 2012 GeoXplor gravity surveys covered mostly the western and northern portions of Clayton Valley, while the 2009 GeoXplor gravity survey covered the entire valley. Data from those previous surveys were acquired on a nominal one-kilometer grid near the CC, CCP, JR and SX claims, while the new gravity data will be acquired on a 250-meter grid. The newly acquired gravity data will be used in conjunction with the existing Sierra Geothermal and GeoXplor Corp. data to enable detailed modeling and interpretation.
A Phase 2 Hybrid-Source Audio-Magnetotellurics (HSMAT) survey is expected to commence in late September. The results of the gravity and HSAMT surveys will be used to prioritize drill locations to test for lithium concentrations within brines. ACME's project is contiguous to Albemarle's Silver Peak lithium resource and production facility. Lithium source material and transport mechanisms for the 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.
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.
Backed by a successful track record on finding and developing global resources, ACME Lithium has two projects located in a highly prospective region for lithium development and production in the Clayton Valley region of Esmeralda County, Nevada. The Company has acquired, or 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 81 lode mining claims totaling approximately 1,620 acres, in Esmeralda county, Nevada, which are prospective for lithium contained in tertiary claystones.
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 the drilling program to be carried out on the Clayton Valley or FLV property. Information inferred from the interpretation of drilling and other sampling 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.
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