Carson City, Nevada–(Newsfile Corp. – March 29, 2022) – ACME Lithium Inc. (CSE: ACME) (OTCQB: ACLHF) (the “Company”, or “ACME”) is pleased to announce that it has contracted with KLM Geoscience of Las Vegas, NV for an induced polarization (IP) survey on ACME’s Warm Springs lithium brine project near the Nevada border in southern Harney County, Oregon. KLM mobilized on March 26th and final results are expected within 45 days. The survey will be used to locate a drill test of the Property.
The WS Project claims are situated regionally in a “nested” cluster of calderas northwest of NYSE-listed Lithium Americas’ Nevada Thacker Pass lithium project and ASX-listed Jindalee Resources Oregon JRL project.
The WS Project adds to ACME’s growing lithium portfolio with two projects in southwest Nevada and two in southeast Manitoba, Canada. The US and Canada currently imports most of its lithium for Li-ion battery construction and ACME’s vision is to provide a significant, long-life supply of lithium for both domestic consumption and export. The USGS has listed lithium as a critical mineral to the US “economic and national” security.
Acme’s Warm Springs Project is interpreted to be a lithium brine play. Geologically that requires two conditions to be met: lithium has to be mobile and there has to be a reservoir with cap rock to retail lithium.
The evidence for lithium being mobile comes from structurally controlled warm springs with alteration and geochemically anomalous water lithium analyses. Surface geochemical expressions are ‘leakage’ of a geologic process and can be up to a few miles laterally from the subsurface reservoir / cap which are the exploration target. To secure that lateral potential, Acme has now staked 340 placer claims covering approximately 6,727 acres covering gently rolling terrain transected by a well maintained road. The land has been classified by the BLM as Visual Resource level 4 with some marginal level 3, the most flexible categories.
The stratigraphy is only understood in the most general way. The target interval is bracketed above and below by major basaltic volcanic events and has a more tuffaceous and sedimentary nature. While the drill target is brines based on current knowledge, drill sampling will also be mindful of lithium-bearing tuffs and fine sediments. Both water and cuttings will be analyzed for a complete test of the potential.
Lithium brines are by definition salty and good electrical conductors and a commercial brine deposit will have a significant areal footprint. IP and resistivity should give good definition of any significant brine accumulations. The IP survey as planned should yield a depth penetration of 500 meters. Traverses are laid out to broadly test across the claim block. While significantly below the budget cost of detailed geophysical surveys, the intent is to locate a stratigraphic test hole where it also has a reasonable chance of clipping any brine bodies present. Permitting applications for drilling will immediately follow.
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, southeast Oregon and southeast 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 the drilling program to be carried out on the 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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