ACME Lithium Inc. announced today that it has filed on SEDAR+ a National Instrument 43-101 technical report titled “NI 43-101 Technical Report Update on the Clayton Valley Lithium Brine Project, Esmeralda County, Nevada USA” with an effective date of March 13, 2024 (the “Technical Report”).
The Technical Report includes a maiden resource estimate of lithium carbonate equivalent (LCE) of approximately 302,900 metric tons (units rounded) over a 40-year extraction period, confirming an exploration summary and hydrological evaluation report previously announced by ACME on February 6, 2024, and received from Reno, Nevada based Confluence Water Resources LLC (“Confluence”).
The Clayton Valley claim group encompass 119 lode mining claims totalling approximately 2,230 acres, in Esmeralda County, Nevada and is contiguous to the northwest of the only operating lithium brine operation in North America, Albemarle Corporation’s Silver Peak lithium deposit and facility, which has been in production since 1966.
The Technical Report was prepared for the Clayton Valley project by David Carlson, Certified Professional Geologist in California, Idaho and Utah, independent consultant, and qualified person. The disclosure of a mineral resource estimate, as stated herein, is based upon the information prepared by such a qualified person.
The Technical Report was prepared in accordance with the Canadian Securities Administrators’ National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), and may be found here at the Company’s website or under the Company’s profile on SEDAR+.
About ACME Lithium Inc.
Led by an experienced team, ACME 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 a project area located in Clayton Valley, Nevada and has entered into option agreements with third parties on its Fish Lake Valley, Esmeralda County Nevada project, and at Shatford, Birse, and Cat-Euclid Lakes in southeastern Manitoba.
On behalf of the Board of Directors
Steve Hanson
Chief Executive Officer, President and Director
Telephone: (604) 564-9045
[email protected]
For Investor Inquiries:
Anthony Simone
Simone Capital
Telephone: (416) 881-5154
[email protected]
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 exploration, drilling or development at ACME’s project properties. Information inferred from the interpretation of drilling, sampling and other technical 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. ACME’s project location adjacent to or nearby 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 assistance and additional data for exploration work being completed by ACME. 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.
