Carson City, Nevada–(Newsfile Corp. – August 4, 2022) – ACME Lithium Inc. (CSE: ACME) (OTCQB: ACLHF) (the “Company”, or “ACME”) announced today that it has commenced geological field work to further develop knowledge of lithium occurrences at ACME Lithium’s FLV claim group in Fish Lake Valley, Nevada.
The FLV claim group encompass 144 lode mining claims totalling approximately 2,975 acres, in Esmeralda County, Nevada. Historical sampling had occurrences of up to 600 ppm lithium. Fine sediments the same age as Clayton Valley occur on the property with some beds enriched in lithium.
ACME’s Fish Lake Valley project is directly west of ioneer Ltd’s world class Rhyolite Ridge Lithium-Boron project. On July 31st, ioneer announced a binding battery joint venture with Toyota Motor Corp and Panasonic Corp to buy lithium from ioneer’s Rhyolite Ridge mining project and use the metal to build electric vehicle batteries in the United States. Australia-based ioneer aims to produce about 21,000 tonnes of lithium in Nevada annually starting in 2025. It signed a supply deal with Ford Motor Co in mid-July and last year with South Korea’s Ecopro Co.
Follow up sub sampling as well as mapping at Fish Lake Valley is intended to better understand the geological model and focuses on traverses along a major drainage area where higher lithium values occurred. Further analysis will assist with drill hole targeting and access routes for potential drill sites.
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, and at Cat-Euclid and Shatford Lakes in southeastern 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 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. 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.