ACME Lithium Inc. (CSE:ACME, OTCQB:ACLHF) said it has commenced a summer exploration program at its Bailey Lake pegmatite discovery area in northeastern Saskatchewan.
The company said it will conduct a 3-in-1 airborne geophysical survey on the property, including helicopter-borne tri-axial gradiometer magnetics, radiometrics, and LiDAR (light detection and ranging) to identify regional structural trends and localized controls of pegmatite bodies and other key information to assist in future drill targeting.
Following the geophysical survey, ACME said a field program will follow up on any anomalous signatures detected from the geophysical survey, as well as conduct follow-up prospecting from the work completed on the property in 2017.
The field program will consist of prospecting, geophysical sampling and structural measurements on the property.
“This exploration program will focus on delineating and identifying potential sources for the 2017 boulder sampling completed by Paul Ramaekers and David Turner which returned samples with elevated values of lithium and critical mineral elements,” ACME said in a statement.
“The goal of these programs is to locate and analyze the pegmatites on the property and delineate which ones are hosting spodumene and lepidolite for upcoming drill programs.”
ACME noted that it has acquired the services of Axiom Exploration Group, an employee-owned consulting firm in Saskatchewan, to complete the upcoming geophysical surveys and field exploration programs at Bailey Lake Project.
The company previously announced it had entered into two agreements to acquire the 41,694-hectare (Ha) Bailey Lake Pegmatite Discovery Area in Saskatchewan, a highly-prospective region for critical mineral development.
The Government of Saskatchewan recently announced an expansion to its existing investment and innovation incentive programs to include eligible lithium projects to become one of the best resource development jurisdictions in the world.
ACME's CSE-listed shares traded 2.8% higher at C$0.18 shortly before midday on Tuesday.
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Contact the author at stephen.gunnion@proactiveinvestors.com