ACME Lithium Inc. (CSE:ACME, OTCQB:ACLHF) said it has begun preparations, including expanding facilities for core logging, ahead of its expected Phase 2 drill program in December this year at its Clayton Valley lithium brine project in Nevada, USA.
It follows the drilling of the DH-1 hole at the property in August this year, which revealed a "significant new lithium discovery".
The Phase 2 drill program and notice of intent to drill (NOI) covers a large diameter test well (TW-1) for completion of brine aquifer permeability testing and sampling.
It will also include up to three new exploration holes (DH-1A, DH-2, and DH-3) in a bid to examine deeper horizons, assess stratigraphy, and test the potential for continuity between the stratigraphic units encountered in DH-1.
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In a statement, ACME noted the following:
- The company has received notice from operator GeoXplor that it has received approval for three dissolved mineral resource exploration (DMRE) borehole permits submitted to the Nevada Division of Minerals (NDOM), in addition to the already approved Notice of Intent 'NOI' permit to drill with the Bureau of Land Management.
- A US$63,144 bond has been put in place with the BLM to cover reclamation of up to 2.2 acres of permitted disturbance.
- Harris Drilling Exploration and Associates Inc has been contracted to provide drilling services and related activities.
- Project geologists are at Silver Peak meeting with equipment operators and have commenced road and drill pad preparations, as well as the expansion of on-site facilities to accommodate core logging and brine storage.
ACME's Clayton Valley, Nevada lithium brine project is contiguous to the northwest of Albermarle's Silver Peak lithium deposit, which has been in production since 1966, according to the company.
Led by an experienced team, ACME Lithium is focused on acquiring, exploring and developing battery metal projects in partnership with leading technology and commodity companies. The company has acquired, or is under option to acquire,100% interests in projects located in Clayton Valley and Fish Lake Valley, Nevada, and at Cat-Euclid and Shatford Lakes in southeastern Manitoba.
Contact the author at giles@proactiveinvestors.com