ACME Lithium Inc. (CSE:ACME, OTCQB:ACLHF) has reported that it has successfully reached a total depth of 1,940 feet (591 meters) in exploration hole DH-1A as part of the Phase 2 drill program at its Clayton Valley Nevada lithium brine project.
The company said prospective basin sediments have been encountered deep in DH-1A and delineated with a 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 and the core is consistent with the known basin stratigraphy, it added.
ACME noted that the 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.
Multi-hold drill program
Following its Phase 1 drill program lithium brine discovery announcement in August 2022, ACME said it has successfully accomplished drilling of the deeper DH-1A exploration hole as part of 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 the completion of up to three 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.
The company said 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, 1,400 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, it noted that 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, it said.
Key highlights:
- Based on a gravity survey conducted by Hasbrouck Geophysics, depth to bedrock was roughly estimated to be between 1,800 and 2,000 feet;
- DH-1A encountered the Campito Formation "bedrock" at approximately 1,820 feet, which is consistent with the gravity survey and results from historic drilling throughout the basin;
- The lithology of DH-1A is consistent with that of DH-1. However, DH-1A extends the vertical extent of the LGU to the contact with bedrock. Clay content appears to increase near the contact with the bedrock, however permeable gravels of the LGU appear to dominate from the contact with the lower ash unit, near approximately 1,250 feet to a depth of approximately 1,630 feet;
- Preliminary logging of DH-1A from a depth of 1,400 to 1,640 was able to confirm the presence of brine; and
- The operator, GeoXplor contracted Harris Drilling Exploration and Associates and Confluence Water Resources LLC to provide drilling services and support testing.
Next Steps:
- Open hole geophysical surveys will commence to interpret changes in lithology and chemistry and assess permeability and other material characteristics;
- Packer testing will follow to include multi-zonal isolated lithium brine sampling and hydraulic testing;
- Sample zones will target stratigraphic features expected to contain brine;
- These samples will be sent to an independent lab and analyzed for lithium, boron and other minerals typical of lithium-enriched brine systems;
- DH-1A is expected to be completed by the end of March 2023; and
- Test Well 1 (TW-1) is expected to commence in April 2023.
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 US and Canadian markets.
Contact the author at stephen.gunnion@proactiveinvestors.com