ACME Lithium Inc (CSE:ACME, OTCQB:ACLHF) has advanced its 2024 exploration program at the Shatford Lake lithium project, with ongoing fieldwork uncovering potential lithium-bearing pegmatites.
The program, designed by Snow Lake Energy and Critical Discoveries, is advancing through its four-phase approach.
The first phase involved gathering and analyzing ACME's previous exploration data, including geophysical, geochemical, and drilling results, to pinpoint targets for Phase 2 fieldwork.
Phase 1 was recently completed, ACME said.
Work is now underway on Phase 2, with the first field rotation finished and the second rotation in progress.
The exploration team, consisting of two geologists and two field technicians, is focused on prospecting activities, which have already led to the discovery of multiple pegmatites.
Initial assays indicate potential for lithium, especially given the project's proximity to the Tanco Mine, a well-known underground lithium producer.
Depending on the results of the ongoing assays, Phase 3 will involve up to 2,000 meters of diamond drilling across approximately 10 holes. Phase 4 will compile and evaluate all data collected throughout the 2024 exploration program.
The Shatford Lake project spans 37 mineral claims over 17,000 acres and is located within the Bird River Greenstone Belt in southern Manitoba.
ACME has granted Snow Lake the option to earn up to a 90% interest in the project by meeting specific financial and exploration milestones.