ACME Lithium Inc. (CSE:ACME, OTCQB:ACLHF) revealed that it has expanded its lithium project by staking 63 new claims (FLV 3 claims) encompassing around 1,295 acres (524.07 hectares) contiguous to the south and east of the company's Fish Lake Valley project in Esmeralda County, Nevada.
With the additional ground, ACME's total number of claims in the area have increased to 207 totaling approximately 4,002 acres. The Carson City, Nevada-based mineral exploration company said that the claims are pending final approval from the Bureau of Land Management (BLM).
The FLV claim group is directly west and contiguous to Ioneer Limited’s world class Rhyolite Ridge Lithium-Boron project area.
ACME recently received results of a Phase 2 geological field review and sampling program, showing numerous new occurrences of lithium values exceeding 1,200 parts per million (ppm) and the highest surface value to date at 1,418 ppm lithium. Boron anomalies up to 1,964 ppm occur with and adjacent to surface lithium anomalies, noted the company.
Significantly, a geophysical survey completed in the fall of 2022 indicates the presence of a down-dropped fault block with interpreted target clay sediments potentially similar to illite units identified in the nearby Rhyolite Ridge lithium deposit.
Meanwhile, ACME said that shallow drill holes to test the areas of strong lithium anomalies are warranted, as are the lithium anomalies associated with the geophysical anomaly to the northwest.
ACME has acquired or is under option to acquire a 100% interest in projects located in Clayton Valley and Fish Lake Valley, and at Bailey Lake in northern Saskatchewan.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
Follow her on Twitter: @UttaraProactive