ACME Lithium Inc. (CSE:ACME, OTCQB:ACLHF) announced that it has completed the drilling, construction, and development of Dissolved Mineral Resource Exploration (DMRE) test well TW-1 as part of the Phase 2 expanded drill program at its Clayton Valley lithium brine project in Nevada.
The mineral exploration company said TW-1 targets the Lower Gravel Unit (LGU), which extends from about 1250 feet to 1820 feet below ground surface (bgs) at the test well location.
ACME noted that the LGU presents a deep, laterally expansive aquifer with some of the highest lithium values, up to 130 milligrams per litre (mg/L) in brine samples, collected in its Phase 1 program, which was completed in July 2022.
It added that following the completion of a pumping test, from which hydraulic properties and brine chemistry of the LGU will be assessed, the company will examine the potential extractability and average lithium concentration of the brine in the LGU at TW-1.
The assessment of extractable brine volume and concentration of lithium in the brine will be used to infer if a lithium resource potentially exists at the ACME project, according to the company.
The TW-1 pumping test, data, and laboratory analyses are anticipated to be completed within 90 days, and positions ACME to exclusively control the only deep well in the northern portion of Clayton Valley.
ACME said it is 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.
ACME's project area is contiguous and adjacent to the northwest of Albemarle's lithium brine operation in Clayton Valley, which remains the only producing lithium brine region currently in production in the US.
ACME Lithium is a mineral exploration company that has acquired, or is under option to acquire, a 100% interest in projects located in Nevada’s Clayton Valley and Fish Lake Valley, Cat-Euclid Lakes in Manitoba, and at Bailey Lake in Saskatchewan.
Contact Sean at sean@proactiveinvestors.com