Carson City, Nevada – March 15, 2023 – ACME Lithium Inc. (CSE: ACME) (OTCQX: ACLHF) (the “Company”, or “ACME”) is pleased to report that DH-1A has successfully reached a total depth of 1940 feet or 591 meters as part of a Phase 2 drill program at ACME’s Clayton Valley Nevada lithium brine project.
Prospective basin sediments have been encountered deep in DH-1A and delineated with high probability to exhibit characteristics of the Lower Gravel Unit (LGU) in Clayton Valley.
The LGU is a permeable, lithium brine enriched, gravel aquifer, overlying bedrock throughout most of Clayton Valley. The core is consistent with the known basin stratigraphy.
ACME’s Clayton Valley Nevada lithium brine project is contiguous to the northwest of 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 at Clayton Valley, Nevada (Fig. 1)
Following ACME’s Phase 1 Drill Program lithium brine discovery announcement on August 17, 2022, the Company has successfully accomplished drilling of a deeper exploration hole (DH-1A) as part of a Phase 2 multi-hole drill program. The Phase 2 program includes drilling, well installation, well development, and completion of a pumping test from a large diameter Dissolved Mineral Resource Exploration Well (TW-1). The Phase 2 program also includes completion of up to three (3) new Dissolved Mineral Resource Exploration (DMRE) boreholes DH-1A, DH-2, and DH-3, from which zonal isolated packer testing and brine sampling will be completed. Grouted in Vibrating Wire Piezometers will be installed in each of the DMRE boreholes to monitor long terms water levels and aquifer response to pumping. The Phase 2 Program objectives are to examine deeper horizons below the total drilled depth of DH-1, 1400 feet through zonal isolated testing and brine sampling. Objectives are to assess stratigraphy and to assess the potential continuity between the stratigraphic units to include the LGU. Last summer, DH-1 encountered its highest-grade lithium at the bottom of the hole in the LGU. The results of DH-1A should increase the known vertical extent of the LGU at the project.
ACME is well funded by strategic investors and positioned to complete its exploration and development objectives through the near term with the goal of providing a domestic supply of lithium to the U.S. and Canadian markets.
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, at Shatford, Birse, and Cat-Euclid Lakes in southeastern Manitoba, and at Bailey Lake in northern Saskatchewan.
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