ACME Lithium Inc. (CSE: ACME) (OTCQX: ACLHF) (the "Company", or "ACME") has retained Simone Capital Corp. ("Simone Capital") in the capacity of Investor Relations and Capital Markets Advisory. Simone Capital will leverage its proprietary database to engage and coordinate roadshows with retail brokers, portfolio managers, analysts, and individual investors on the Company's behalf. Simone Capital is located in Toronto, Ontario and principally owned and operated by Anthony Simone and Matthew Benedetto In consideration for the services, Simone Capital will be paid CAD$6,500 per month for an indefinite term subject to termination on 30 days notice.
Additionally, ACME has engaged Machai Capital Inc. ("Machai Capital"), located in Vancouver, British Columbia, for digital marketing services, branding, content creation, and data-optimization. In consideration for these services, Machai Capital will be paid CAD$12,500 per month for a six month term.
About ACME Lithium Inc.
Led by an experienced team, ACME Lithium is a mineral exploration Company focused on acquiring, exploring, and developing battery metal projects in partnership with leading technology and commodity companies. ACME has acquired or is under option to acquire a 100-per-cent interest in projects located in Clayton Valley and Fish Lake Valley, Esmeralda County Nevada, and at Birse, Cat-Euclid, and Shatford Lakes in southeastern Manitoba.
On behalf of the Board of Directors
Steve Hanson
Chief Executive Officer, President and Director
Telephone: (604) 564-9045
info@acmelithium.com
Neither the CSE nor its regulations service providers accept responsibility for the adequacy or accuracy of this news release. This news release may contain forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
Source
Click here to connect with ACME Lithium Inc. (CSE: ACME) (OTCQX: ACLHF), to receive an Investor Presentation
The large-scale shift to carbon-pollution-free electricity and net-zero emissions is already underway. According to analysts and industry executives, the global electric vehicle market size will cross US$980 billion by 2028, at a CAGR of 24.5 percent between 2022 and 2028. With the worldwide lithium battery market expected to grow exponentially in the coming decade — which has the potential to reach a record value of US$80 billion by 2026 — it’s clear there is significant potential and a lot of growth to come.
“And when you come into this growth period where year-on-year the volumes are getting significantly bigger in terms of orders from the battery industry, I think that has the potential to create a real bottleneck in terms of keeping supply up with demand,” said Andrew Miller, product director at Benchmark Mineral Intelligence in an interview with INN.
But with limited production capacity available in the United States, more production will be required to facilitate the growing needs of the electric vehicle and stationary grid storage markets. It’s this perfect storm of conditions that have led Clayton Valley in Esmeralda County, Nevada to become a hotspot for lithium exploration and development in the US. This region uniquely hosts the only US-based lithium mine.
ACME Lithium currently operates its Clayton Valley and Fish Lake Valley projects in the mining-friendly Esmeralda County area in Nevada. The properties are strategically located near Albemarle Corporation’s Silver Peak Lithium mine. The Silver Peak lithium mine has continuously produced lithium since 1966, with concentrations as high as +1,000 ppm of lithium. Ford Motor Company, Toyota, and Panasonic recently announced plans to buy lithium from ioneer Ltd’s Rhyolite Ridge mining project in Nevada to produce electric vehicle (EV) batteries in the US. ioneer’s Rhyolite Ridge project and mineral interests border ACME Lithium’s Fish Lake Valley project directly to the east.
ACME Lithium's projects are also located in an area with a developing battery supply chain, including Tesla’s Gigafactory, which sits only 200 miles away. Both of ACME Lithium’s Nevada properties have year-round access to expertise, infrastructure, rail and roads, power and water, including favorable weather conditions and logistics.
The Clayton Valley property has the potential to host lithium brine just like the Silver Peak Lithium mine in Clayton Valley. The company expects to use Direct Lithium Extraction technology (DLE) to process lithium at Clayton Valley. It is a low-cost and sustainable technology that selectively removes pure lithium from brine water. As a more efficient process compared to traditional lithium extraction and with the development of relationships with companies that have DLE technology, it gives ACME Lithium a strong competitive advantage. The company strongly believes that its properties have the potential to produce lithium under simple metallurgical conditions based on preliminary indications.
The company’s leadership team has decades of experience in the mining, energy and finance sectors. ACME Lithium also boasts multiple notable industry figures, including Yiannis Tsitos, who has worked for the BHP Billiton group, William Feyerabend, who has direct experience in developing lithium projects and Steve Hanson, who has been involved in multiple successful M&A transactions in the mining and resource sector, including exit strategies with major corporations.
“We continue to look at accretive projects around the globe,” said ACME Lithium CEO Steve Hanson. To this end, ACME Lithium has two projects in Manitoba including the Cat-Euclid Lake claim area and the Shatford Lake claim area. An agreement signed earlier in 2022 for US$3 million with Lithium Royalty shows intent to pursue development in this region.
ACME Lithium entered into option and purchase agreements to acquire from Gem Oil Inc. a total of 41,694 hectares of project claims known as the Bailey Lake Pegmatite Discovery Area located in the northeastern region of Saskatchewan. The two agreements comprised an option to purchase a 100 percent interest in a core block of 13 contiguous mineral claims encompassing 25,900 hectares (or 100 square miles) and a purchase of five additional contiguous claims comprised of 15,794 hectares (61 square miles).
The Clayton Valley project is located 190 miles northwest of the city of Las Vegas in Esmeralda County in Nevada. The property spans 2,440 acres with year-round access to expertise, infrastructure, rail and roads, power and water including favorable weather conditions and logistics. Clayton Valley is located directly to the northwest of Albemarle Corporation’s Silver Peaks lithium mine that has produced lithium minerals from brines continuously since 1966 including samples as high as 228 ppm lithium. Concentrations up to +1,000 ppm have also been found to occur within specific horizons of fine sediments.
ACME Lithium’s claims at its Clayton Valley project cover basin-fill sediments and aquifers that could be similar to the sediments currently producing brines in the region based on historic drill information and geophysical survey results. There is also promising evidence that the extensive valley growth faults provide an adequate plumbing system to foster brine reservoir accumulation for moving fluids around.
ACME Lithium owns and is under the option to acquire a combined 100 percent interest in 122 claims including the CC, CCP, JR and SX Placer claims on the Clayton Valley property. The company recently commenced its Phase 1 Drill Program in Clayton Valley. Harris Drilling Exploration and Associates Inc. has been contracted to provide drilling services based on prospective lithium brine targets defined by geophysical in Fall 2021. The drill program consists of advancement of an HQ core hole up to 500 meters at location DH-1 to assess lithology, permeability features, clay, sand and gravel content, and lithium brine potential. Core and brine samples are currently being analyzed at an independent lab.
The Fish Lake Valley project is located in Esmeralda County in Nevada. The project comprises of 100 percent interest in 144 lode mining claims that span approximately 2,975 acres with year-round access to expertise, infrastructure, rail and roads, power and water including favorable weather conditions and logistics. Fish Lake Valley is located over the foothills 24 miles west of Clayton Valley.
The Fish Lake Valley project is directly west of ioneer Ltd’s world class Rhyolite Ridge Lithium-Boron project. In July 2022, ioneer announced a binding battery joint venture with Toyota Motor Corp and Panasonic Corp to buy lithium from ioneer’s Rhyolite Ridge mining project and use the metal to build electric vehicle batteries in the US. Australia-based ioneer aims to produce about 21,000 tons of lithium in Nevada annually starting in 2025. It has also signed a supply deal with Ford Motor Co and South Korea’s Ecopro Co.
Exploration at Fish Lake Valley since 2010 has revealed sites with anomalous lithium values greater than 100 ppm in Tertiary claystone, sediment samples with values approaching 600 ppm lithium in claystone, positive geophysical surveys and lithium within clay-rich horizons. In 2018, the previous operator confirmed that it was, in fact, the same geological process resulting in high lithium values in fine sediments found at the Fish Lake Valley property.
The company is currently undergoing field work at Fish Lake Valley with follow up sub sampling as well as mapping, which is intended to better understand the geological model and focuses. The latest phase of field work traverses along a major drainage area where higher lithium values occurred. Further analysis will assist with drill hole targeting and access routes for potential drill sites.
ACME Lithium owns 100 percent interest in 21 claims totaling 8,883 acres in the Shatford Lake pegmatite field and 6 claims to a total of 2,930 acres in the Cat-Euclid Lake shear zone. The Shatford Lake property consists of 15-kilometer structural trend of the Greer-Shatford Shear Zone, with numerous pegmatite dykes and favorable host rocks. The Cat-Euclid Lake claims sit on the prospective Cat-Euclid Lake shear zone and extend along southeasterly trend of known pegmatite occurrences.
The projects are found in the Bird River Greenstone Belt of southeastern Manitoba. The region hosts hundreds of individual pegmatite bodies, many of which are classified as complex rare-element Lithium-Cesium-Tantalum (LCT) pegmatites. LCT pegmatites account for a quarter of the world’s lithium production, making the region a global area of focus and opportunity for emerging and developing lithium projects. The Shatford Lake project neighbors the Tanco Mine, a producing lithium, cesium and tantallum mine purchased by Sinomine Corporation in 2019. The first pegmatite ore body was discovered in the late 1920s.
In July 2022, ACME Lithium began an extensive summer exploration program focused on spodumene-bearing LCT pegmatites that can be a source for lithium carbonate deposits. The company also commenced an airborne geophysical survey at Shatford and Cat-Euclid Lake project areas in southeastern Manitoba. The survey was carried out by Dias Airborne with their state of the art QMAGT system. A total of 1,989 line kilometers was flown at a 65 m line spacing and at a sensor height of 35 m or at the safest height above the tree canopy. The summer program will help identify drill targets for an anticipated fall/winter drill program.
Stephen Hanson has over 28 years of finance and corporate development experience across four continents. Hanson has held executive (CEO), board and advisor positions for numerous private and public companies in mining, alternative energy, oil and gas sectors. Hanson has been involved in a number of successful M&A transactions including exit strategies with major corporations.
Yannis Tsitos is originally a physicist-geophysicist with nearly 30 years of experience in the mining industry, including 19 years with BHP Billiton group which is one of the biggest mining companies in the world. Tsitos is currently the President of Goldsource Mines Inc., a TSXV-listed company, and sits on several boards as an independent director.
William Feyerabend is a Certified Professional Geologist and a member of the American Institute of Professional Geologists with direct working experience in the exploration and development of lithium projects, including technical reports in Nevada. Feyerabend has worked on projects in the American West, Mexico and South America.
Vivian Katsuris is a specialist in corporate development, management, consulting, and corporate services. Katsuris has over 28 years of financial experience in the brokerage industry, the North American capital markets and public financings. Katsuris holds director and officer positions with several CSE- and TSXV-listed companies.
Zara Kanji is experienced in financial reporting compliance for junior listed companies, taxation, general accounting, financial reporting and value-added advisory services for individuals, private and public companies. Kanji is a member of the Chartered Professional Accountants of BC and Canada.
Paul McGuigan is a Professional Geoscientist registered with the Association of Engineers and Geoscientists of the Province of British Columbia, with 47 years of international experience in mineral exploration, deposit evaluation, mine operations, and corporate governance. As a geochemist, he developed the mineral separation techniques now commonly employed in mineral exploration, diamond exploration, and heavy mineral sands sampling. First employed by Resource Associates of Alaska, Pechiney Ugine Kuhlmann, and Esso Minerals Canada, he operated in Canada and the United States. For the last 36 years, Mr. McGuigan has managed the Cambria group of consulting companies in North and South America, Europe, Africa, the Middle East, and the Southwest Pacific. He has served as a member of the Consulting Practice and the Geoscience Committees of the Engineers and Geoscientists of BC.
Matt Banta has over 20 years of technical and professional experience in groundwater and surface water resource inventories, water development projects, and water resource management. Has managed and completed numerous groundwater and surface water resource investigations and inventories, hydraulic testing programs, aquifer testing programs and groundwater characterization studies throughout the world and western United States with focus on lithium brine, open pit, and underground mining projects.
Has extensive professional expertise in stakeholder engagement, environmental and natural resource studies, permitting, regulatory compliance, groundwater and surface water monitoring plans, and drilling program planning and management in the United States, Canada, South America, Russia, and Mexico.
ACME Lithium Inc. (CSE: ACME) (OTCQX: ACLHF) (the "Company", or "ACME") is pleased to announce that a work permit has been issued by the Government of Manitoba for the Company's upcoming drill program at its Shatford Lake project in the Winnipeg River pegmatite region in southeastern Manitoba, Canada. ACME's land holdings in southeastern Manitoba comprise approximately 17,000 acres or 70 square kilometres.
Drilling Program Highlights:
ACME's Shatford Lake claim is located strategically and abuts to the south of Sinomine Resource Group's world class Tanco Mine, a Lithium, Cesium and Tantalum producer (LCTs) since 1969. Tanco Mine and Shatford Lake areas are located in the pegmatite fields of the southern limb of the Bird River Greenstone Belt (BRGB). The Shatford – Winnipeg River structure is analogous to the Bernic Lake high strain zone that is interpreted to be related to the Tanco pegmatite.
The northern and southern limbs of the Bird River Greenstone Belt contain at least 10 pegmatite fields and host hundreds of individual pegmatite bodies, of which many are classified as complex rare-element Lithium-Cesium-Tantalum (LCT) pegmatites. In both limbs of the BRGB, pegmatites are associated with granitic intrusions into structurally dilatant zones adjacent to major belt parallel shear zones. Worldwide, LCT pegmatite deposits account for about one-fourth of the world's lithium production, most of the tantalum production, and all the cesium production.
ACME completed an extensive summer exploration program employing remote sensing, structural geology, ground-based geological mapping, and geochemical sampling to localize targets for drilling. The Company's exploration focus is on spodumene-bearing LCT pegmatites that are a source for high quality lithium that can be converted to lithium carbonate.
Dane Bridge, P. Geol. is a Qualified Person as defined by NI 43-101 and has supervised the preparation of the scientific and technical information that forms the basis for this news release.
About ACME Lithium Inc.
Led by an experienced team, ACME Lithium is a mineral exploration Company focused on acquiring, exploring, and developing battery metal projects in partnership with leading technology and commodity companies. ACME has acquired or is under option to acquire a 100-per-cent interest in projects located in Clayton Valley and Fish Lake Valley, Esmeralda County Nevada, at Shatford, Birse, and Cat-Euclid Lakes in southeastern Manitoba, and at Bailey Lake in northern Saskatchewan.
On behalf of the Board of Directors
Steve Hanson
Chief Executive Officer, President and Director
Telephone: (604) 564-9045
info@acmelithium.com
Neither the CSE nor its regulations service providers accept responsibility for the adequacy or accuracy of this news release.
Forward Looking Statement
This news release may contain forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur and in this news release include but are not limited to the attributes of, timing for and expected benefits to be derived from exploration, drilling or development at ACME's project properties. Information inferred from the interpretation of drilling, sampling and other technical results may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. ACME's project location adjacent to or nearby lithium projects does not guarantee exploration success or that mineral resources or reserves will be defined on ACME's properties. Exploration, development, and activities conducted by regional companies provide assistance and additional data for exploration work being completed by ACME. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from the Company's operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/147956
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ACME Lithium Inc. (CSE: ACME) (OTCQX: ACLHF) (the "Company", or "ACME") is pleased to announce that it has entered into option and purchase agreements with Saskatchewan-based Gem Oil Inc. ("Gem Oil") to acquire the Bailey Lake Pegmatite Discovery Area (the "Project Claims"), located in the northeastern region of Saskatchewan, Canada.
ACME has entered into two agreements, an option ("Option") to purchase a 100% interest in a core block of 13 contiguous mineral claims encompassing 25,900 hectares (or 100 square miles) and a purchase ("Purchase") of five additional contiguous claims comprised of 15,794 hectares (61 square miles). Together, the Project Claims comprise 41,694 hectares (or 161 square miles).
Highlights:
The large Project Claims area contains multiple indications of spodumene-bearing pegmatites with potentially economic grade lithium
Spodumene-bearing pegmatites with evolved mineralogy are found on surface in outcrop and boulder trains.
Historical reported sampling by Gem Oil includes up to 3950 ppm Li in the Bailey Lake region
Historical reported sampling by the Saskatchewan Geological Survey includes results up to 3470 ppm Li at Misaw Lake region to the east of Bailey Lake
Till sampling in the region by the Saskatchewan Geological Survey reported numerous sites with elevated lithium and lithium pegmatite associated elements.
The geological setting, granitic suite characteristics, evolved pegmatite characteristics, occurrence of float with potentially economic lithium grades, and absence of extensive historical exploration in the region is strongly encouraging for exploration expansion in this discovery area.
The Project Claims cover lithium occurrences in glacial float boulder trains near Bailey and Misaw Lakes underlain by granitic rocks of the Hudson suite that were emplaced from 1840-1818 Ma and the Nueltin suite dated at 1770-1730 Ma.
An initial interpretation for the Bailey Lake region is an albite spodumene or rare element spodumene type pegmatite in outcrop and boulder trains, and,
The Misaw Lake region contains a rare element complex lepidolite type pegmatite boulder train.
Figure 1: Banded pegmatite Boulder- Spodumene bearing, Gem Oil
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/7776/147599_d701767dd4a1c8b9_002full.jpg
Bailey Lake Region
A boulder train in the Bailey Lake region is characterized by glacial erratics that are locally spodumene-bearing. A rounded boulder of coarse-grained porphyritic leucocratic granite has large alkali-feldspar in a medium-grained groundmass of quartz, plagioclase and spodumene with minor muscovite and lepidolite. The boulder assayed 3320 ppm Li, 2060 ppm Rb, 113 ppm Be. The highest value reported from limited sampling by Gem Oil in the Bailey Lake boulder train was 3950 ppm Li based on samples from the boulder train plot in the lithium-cesium-tantalum (LCT) pegmatite field.
Figure 2: Spodumene bearing pegmatite in outcrop, GEM Oil
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/7776/147599_d701767dd4a1c8b9_003full.jpg
Misaw Lake Region
A boulder train has been identified in the Misaw Lake region consisting of pegmatitic K-rich granitic rocks enriched in Rb (2130 ppm), Ta (120 ppm), Nb (51 ppm) and Cs (71 ppm). The boulder train is up-ice from the apparent location of a lepidolite-bearing glacial erratic located by the Saskatchewan Geological Survey in NTS 64M/15 and reported in 2004. The highest value reported from limited sampling by Gem Oil in the Misaw Lake boulder train was 3470 ppm Li from a lepidolite boulder.
Steve Hanson, President and CEO of ACME, states, "ACME has established an aggressive strategy in identifying, acquiring, and exploring high quality lithium properties in both Canada and the United States. The Bailey Lake Pegmatite Discovery area is an underexplored region with great potential and provides an important entry for ACME into the Province of Saskatchewan."
Saskatchewan is 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 with the aim to become one of the best resource development jurisdictions in the world. The addition of the Bailey Lake Project Claims to ACME's extensive North American portfolio further positions the Company to advance its goal to provide a domestic supply of lithium to the Canadian and United States markets.
Agreement Terms
ACME may exercise the Option by paying a total of CAD$450,000, issuing a total of 450,000 common shares, and incurring a total of CAD$1,554,000 in exploration and development expenditures over a three-year period. The claims are shown as Bailey Lake group 1 on the following map.
ACME may accelerate any or all the components comprising the Option Price, so as to exercise the Option at any time sooner than stated in the agreement.
Gem Oil will retain a 2% Net Smelter Returns Royalty ("NSR"), of which ACME may at any time and from time to time during the 24 months following the date of exercise of the Option buy-down or purchase up to one-half of the Royalty (1% NSR) by paying Gem Oil the sum of $2,000,000 for each one-half of one percent (0.5% NSR), for a maximum cost of $4,000,000, thereby reducing the Royalty in favor of the Holder to a minimum of one percent (1%) NSR.
ACME has also entered into a Purchase agreement with Gem Oil to acquire 5 additional Bailey Lake claims comprising of 15,794 hectares for the sum of $9,476.28 and the grant of a 1% NSR. These five claims are shown as Bailey Lake group 2 on the following map.
Figure 3: Core claim area red, with additional claim areas contiguous to the north and south in blue
To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/7776/147599_d701767dd4a1c8b9_004full.jpg
Qualified Person
Mr. Dane A. Bridge, P.Geol., a "Qualified Person" (as defined in NI 43-101 -Standards for Disclosure for Mineral Projects) and a Senior Consultant to the Company, has reviewed and approved the technical disclosures in this news release.
About ACME Lithium Inc.
Led by an experienced team, ACME Lithium is a mineral exploration company focused on acquiring, exploring, and developing battery metal projects in partnership with leading technology and commodity companies. ACME has acquired or is under option to acquire a 100-per-cent interest in projects located in Clayton Valley and Fish Lake Valley, Esmeralda County Nevada, and at Shatford, Birse, and Cat-Euclid Lakes in southeastern Manitoba.
On behalf of the Board of Directors
Steve Hanson
Chief Executive Officer, President and Director
Telephone: (604) 564-9045
info@acmelithium.com
Neither the CSE nor its Regulations Service Providers accept responsibility for the adequacy or accuracy of this news release.
Forward-Looking Statement
This news release may contain forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur and in this news release include but are not limited to the attributes of, timing for and expected benefits to be derived from exploration, drilling or development at ACME's project properties. Information inferred from the interpretation of drilling, sampling and other technical results may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. ACME's project location adjacent to or nearby lithium projects does not guarantee exploration success or that mineral resources or reserves will be defined on ACME's properties. Exploration, development, and activities conducted by regional companies provide assistance and additional data for exploration work being completed by ACME. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from the Company's operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/147599
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ACME Lithium Inc (CSE: ACME) (OTCQX: ACLHF) is pleased to announce that the company is presenting a live virtual corporate update hosted by Red Cloud Financial Services on December 8th, 2022 at 2:00 PM ET.
We invite our shareholders, and all interested parties to register for the webinar and participate in the live Q&A session at the end of the presentation moderated by Red Cloud.
The replay will be emailed out to all webinar registrants proceeding the event and will also be available on the Red Cloud website.
For more information and to register: https://redcloudfs.com/rcwebinar-acme-2/.
Following up on ACME Lithium's summer lithium brine discovery at Clayton Valley Nevada, the Company is set to begin its Phase 2 drill program in the next few weeks. Additionally, a winter drill program in Manitoba is in the late stages of planning, permitting and procurement. These key near term catalysts set the stage for growth in 2023.
About ACME Lithium Inc
Led by an experienced team, ACME Lithium is a mineral exploration Company focused on acquiring, exploring, and developing battery metal projects in partnership with leading technology and commodity companies. ACME has acquired or is under option to acquire a 100-per-cent interest in projects located in Clayton Valley and Fish Lake Valley, Esmeralda County Nevada, and at Birse, Cat-Euclid and Shatford Lakes in southeastern Manitoba.
About Red Cloud Financial Services Inc.
Red Cloud Financial Services Inc. is a comprehensive capital markets platform that provides a full range of unconflicted corporate access and media related services. Offering these services as a unified platform provides the ultimate value proposition for junior resources companies in their efforts to broaden their capital markets presence.
About Red Cloud Securities Inc.
Red Cloud Securities Inc. is an IIROC-regulated investment dealer focused on providing unique comprehensive capital market services and innovative financing alternatives to the junior resource sector. The company was founded by capital markets professionals with extensive experience in the junior mining industry.
For further information:
ACME Lithium Inc
Stephen Hanson
(604) 594-5045
info@acmelithium.com
For additional information contact marketing@redcloudfs.com or visit:
www.redcloudfs.com
www.facebook.com/RedCloudFinancialServices
www.twitter.com/RedCloudFS
www.linkedin.com/company/red-cloud-financial-services-inc
www.youtube.com/c/RedCloudFinancialServicesInc
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ACME Lithium Inc. (CSE: ACME) (OTCQX: ACLHF) (the "Company", or "ACME") is pleased to provide a corporate update at its Shatford, Birse, and Cat-Euclid Lake project areas in the Winnipeg River pegmatite region. ACME's land holdings in southeastern Manitoba comprise approximately 17,000 acres or 70 square kilometres.
ACME completed an extensive summer exploration program employing remote sensing, structural geology, ground-based geological mapping, and geochemical sampling to localize targets for drilling. Our exploration focus is on spodumene-bearing LCT pegmatites that are a source for high quality lithium that can be converted to lithium carbonate.
ACME's Shatford Lake and Birse Lake claim areas are located strategically and contiguous to the south of Sinomine Resource Group's world class Tanco Mine, a Lithium, Cesium and Tantalum producer (LCTs) since 1969, located in the pegmatite fields of the southern limb of the Bird River Greenstone Belt (BRGB). ACME's Cat-Euclid Lake project claims are approximately 18 kilometers to the north of the Tanco Mine.
The northern and southern limbs of the Bird River Greenstone Belt contain at least 10 pegmatite fields and host hundreds of individual pegmatite bodies, of which many are classified as complex rare-element Lithium-Cesium-Tantalum (LCT) pegmatites. In both limbs of the BRGB, pegmatites are associated with granitic intrusions into structurally dilatant zones adjacent to major belt parallel shear zones. Worldwide, LCT pegmatite deposits account for about one-fourth of the world's lithium production, most of the tantalum production, and all the cesium production.
Dane Bridge, P. Geol. is a Qualified Person as defined by NI 43-101 and has supervised the preparation of the scientific and technical information that forms the basis for this news release.
About ACME Lithium Inc.
Led by an experienced team, ACME Lithium is a mineral exploration Company focused on acquiring, exploring, and developing battery metal projects in partnership with leading technology and commodity companies. ACME has acquired or is under option to acquire a 100-per-cent interest in projects located in Clayton Valley and Fish Lake Valley, Esmeralda County Nevada, and at Birse, Cat-Euclid and Shatford Lakes in southeastern Manitoba.
On behalf of the Board of Directors
Steve Hanson
Chief Executive Officer, President and Director
Telephone: (604) 564-9045
info@acmelithium.com
Neither the CSE nor its regulations service providers accept responsibility for the adequacy or accuracy of this news release. This news release may contain forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur and in this news release include but are not limited to the attributes of, timing for and expected benefits to be derived from exploration, drilling or development at ACME's project properties. Information inferred from the interpretation of drilling, sampling and other technical results may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from the Company's operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/146286
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ACME Lithium Inc. (CSE: ACME) (OTCQX: ACLHF) (the "Company", or "ACME") is pleased to provide a corporate update regarding its upcoming Phase 2 multi-hole drill program at its Clayton Valley Nevada lithium brine project.
Following ACME's lithium brine discovery announcement on August 17th, 2022, the Phase 2 drill program and NOI covers a large diameter test well (TW-1) for completion of brine aquifer permeability testing and sampling, and will also include up to three (3) new exploration holes DH-1A, DH-2, and DH-3 with objectives to examine deeper horizons through zonal isolated testing, assess stratigraphy, and the potential for continuity between the stratigraphic units encountered in DH-1.
ACME will provide further updates once the drilling contractor has mobilized, and drilling commences.
Based on prior Clayton Valley drilling experience, intercepting a high-flow lithium enriched brine horizon marking the gravel/bedrock contact, ACME's team is particularly focussed on advancing drilling to test this highly prospective brine zone. 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. Located in one of the best resource jurisdictions in the world, Clayton Valley is the only lithium producing region in the United States.
ACME is well 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.
William Feyerabend, Certified Professional Geologist, is a qualified person as defined by NI 43-101, and has supervised the preparation of the scientific and technical information that forms the basis for this news release.
About ACME Lithium Inc.
Led by an experienced team, ACME Lithium is a mineral exploration Company focused on acquiring, exploring, and developing battery metal projects in partnership with leading technology and commodity companies. ACME has acquired or is under option to acquire a 100-per-cent interest in projects located in Clayton Valley and Fish Lake Valley, Esmeralda County Nevada, and at Shatford Lakes, Birse Lake, and Cat-Euclid in southeastern Manitoba.
On behalf of the Board of Directors
Steve Hanson
Chief Executive Officer, President and Director
Telephone: (604) 564-9045
info@acmelithium.com
Neither the CSE nor its regulations service providers accept responsibility for the adequacy or accuracy of this news release. This news release may contain forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur and in this news release include but are not limited to the attributes of, timing for and expected benefits to be derived from exploration, drilling or development at ACME's project properties. Information inferred from the interpretation of drilling, sampling and other technical results may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. ACME's project location adjacent to or nearby lithium projects does not guarantee exploration success or that mineral resources or reserves will be defined on ACME's properties. Exploration, development, and activities conducted by regional companies provide assistance and additional data for exploration work being completed by ACME. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from the Company's operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
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In accordance with Listing Rule 17.2, Pan Asia Metals Limited requests the granting of an extension to the suspension for its securities pending an announcement by the Company in relation to a business update.
It is requested that the suspension continue until the earlier of 1 trading day from the date of this letter or when a market release is issued indicating the recommencement of trading (which is expected to be issued prior to the open of trading on Wednesday 21 December 2022).
Pan Asia Metals Limited confirms that it is not aware of any reason why a suspension should not be granted; and is not aware of any other information necessary to inform the market about the suspension.
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Lithium Power International Limited (ASX: LPI) (“LPI” or the “Company”) provides an update on the consolidation of 100% ownership of LPI’s flagship Maricunga lithium brine project in Chile (“Maricunga” or the “Project”).
HIGHLIGHTS
Completion of the SBD Transaction satisfies the final condition to the transaction with Bearing Lithium Corp. (BRZ:TSXV) (“Bearing” and 17.14% interest) (individually the “Transaction” or together the “Transactions”). The Bearing Transaction is expected to complete by 22 December which will result in LPI taking ownership of 100% of Maricunga.
Advisors
Treadstone Resource Partners acted as strategic and financial advisor to LPI in respect of the Transactions. Ashurst acted as the Australian legal advisor, Stikeman Elliott LLP acted as the Canadian legal advisor, and Pillsbury Winthrop Shaw Pittman acted as the US legal advisor to LPI. EY acted as the Australian, US and Canadian tax advisor to LPI.
Maricunga Lithium Brine Project
The Maricunga Project is located 170km north-east of Copiapó in Salar de Maricunga in the Atacama Region of northern Chile. In January 2022, LPI announced the results of its updated Definitive Feasibility Study (“DFS”) for the Stage One Maricunga Lithium Brine Project1, which supports 15,200 t/a production of battery grade lithium carbonate for 20 years. The DFS provides for a project NPV (leveraged basis) of US$1.4B (after tax) at an 8% discount rate, providing an IRR of 39.6%, a 2-year payback and estimated steady-state annual EBITDA of US$324 million.
The study confirmed that Maricunga could be one of the world’s lowest-cost producers of lithium carbonate, with an operating cost of US$3,718 per tonne not including revenue credits from a potassium chloride by-product. The project will have an exceptional ESG profile, aiming to achieving carbon neutrality once the operation beds down, setting new standards for social relationships.
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This article includes content from Lithium Power International, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Critical Resources Limited (ASX:CRR) (“Critical Resources” or “the Company”) is pleased to advise that it has executed a binding purchase and sale agreement with TSX-V listed Power Metals Corp (TSX-V:PWM) (“Power Metals”) to acquire Power Metals’ Gullwing-Tot Lakes property.
Highlights
Critical Resources’ Managing Director Alex Cheeseman said:
“This significant increase in land position is naturally aligned to the Company’s focus on Mavis Lake.
Planning has already begun to undertake exploration efforts on the newly-acquired area in 2023, as we leverage synergies with our existing Mavis Lake exploration team and build upon recent exceptional drilling results.
Tosecureasignificantincreasein ground, contiguous with our current land holding, in a highly prospective area with known spodumene-bearing pegmatites, running along the same geological trend as Mavis Lake is an outstanding outcome for the Company and strengthens our already impressive Mavis Lake Project.”
Property Details
The Gullwing-Tot Lakes property, along with the Mavis Lake Lithium Project and recently staked ground, will form an enlarged contiguous project area of approximately 30 km long and 9.5km wide, with a total area of 22,984 hectares (“Mavis Lake Project Area”). The Mavis Lake Project Area can be seen in figure 1, the entire Mavis Lake Project area lies within the prospective Sioux Lookout Domain in the Wabigoon Subprovince. Figure 1 also identifies the two pegmatites that were subjects of historical exploration efforts by Power Metals.
This article includes content from Critical Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Description
The suspension of trading in the securities of Critical Resources Limited (‘CRR’) will be lifted immediately following the release by CRR of an announcement regarding a strategic acquisition.
Issued by
Nicholas Mountain
Adviser, Listings Compliance (Perth)
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This article includes content from Critical Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Galan Lithium Limited (ASX: GLN) (Galan or the Company) is pleased to announce a maiden drilling program at the newly defined Fry’s Block located within its 100% owned Greenbushes South Lithium Project. Diamond drilling is scheduled to commence in late January 2023, pending receipt of program of works (POW) approvals.
Highlights:
Greenbushes is currently the largest hard-rock lithium mine in the world and has been in production since 1983. It is operated by Talison Lithium Pty Ltd, a private company now owned by joint venture partners Tianqi Lithium Corporation / IGO Limited JV (51%) and Albemarle Corporation (49%).
The five-hole diamond drilling program has been developed to test three interpreted pegmatite targets at the Fry’s Block Prospect on E70/4790. The shallow-angled drilling program follows recent successful fieldwork campaigns, including highly encouraging geophysics and soil sampling results (refer ASX announcements dated; 1 August 2022, 15 June 2022, 24 March 2022 and 15 November 2021).
Located approximately 3 km from the operational Greenbushes mine, the potential pegmatite targets at Fry’s Block are thought to be part of a more extensive, interfingering geologic system. Diamond drilling has been selected to capture the sample and geometry of the pegmatites, details of their magmatic histories as well as any potential irregularities in grade distribution.
Galan’s Managing Director, JP Vargas de la Vega, commented:
“We are very excited by the identified opportunity at the newly defined Fry’s Block which follows our extensive fieldwork, geochemical and geophysical data analysis. We now have three highly prospective targets, land access, a drilling contractor and ideal weather conditions ready for our maiden drilling campaign at our fully owned Greenbushes South Lithium Project. We expect these initial targets to be the first of many planned in one of the world’s most renowned lithium districts.”
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This article includes content from Galan Lithium, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Charger Metals NL (ASX: CHR, “Charger” or the “Company”) is pleased to provide information for its drilling program at the Medcalf Lithium Prospect, at its Lake Johnston Lithium Project in Western Australia.
Charger’s Managing Director, David Crook, commented:
“Charger Metals’ maiden drilling program at Lake Johnston very encouragingly intersected numerous spodumene-bearing pegmatites within a 50m-wide zone. The program has provided critical information about the orientation of mineralisation aiding planning ahead of the resumption of drilling in early 2023.”
Summary of the drilling program and geological observations
The Medcalf Spodumene Prospect represents a swarm of anastomosing to tabular pegmatites hosted in foliated amphibolite. The Medcalf pegmatites are members of the LCT pegmatite family and of the albite-spodumene type. Spodumene is clearly observed in many outcrops (Figure 1).
The reverse circulation (RC) drilling program was conducted at the Medcalf Spodumene Prospect during December 2022 and totalled 17 holes for 2,669 metres (Figure 2 and Table 1). Individual pegmatites intersected in drilling are up to 5m in width, have a strike direction of north- west – south-east and dip at a moderate angle (approximately -40°) towards the south-west (Figure 3).
Each metre interval has been visually logged by geologists with experience in spodumene- pegmatite drilling, and occurrences of apparent spodumene within pegmatite dykes has been noted. The surface mapped pegmatites that have analysed Li2O concentrations exceeding 1% are appropriately located to be the surface expression of the apparent spodumene-bearing pegmatites observed in the drill holes.
The apparent spodumene mineralisation is evident on each of the 3 sections drilled and therefore additional step out drilling is required in both south-easterly and north-westerly directions, as well as at a greater depth. Thicker pegmatites are recorded on the north-western-most drill section, suggesting a north-westerly plunge to the mineralisation.
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This article includes content from Charger Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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