After two years of exploration work, ACME Lithium (CSE: ACME) has reported an initial mineral resource estimate for its Clayton Valley lithium brine project in Nevada.
The project is estimated to have 56,900 tons of extractable elemental lithium at an average grade of 96 mg/L, which translates to 302,900 tons of lithium carbonate equivalent. The estimate is based on a mining operation drawing 11,825 acre feet of water per year from the deposit.
The project itself is contiguous to Albemarle’s Silver Peak lithium operation, which has been in production since 1966. The project amounts to 119 claims covering 2,230 acres, 55% of which were used within the resource estimate based on geophysical surveys conducted and three drill holes.
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“This important milestone for ACME and its shareholders was a culmination of the last two years of work by our team, our operator, and experienced technical consultants and contractors. Our exploration efforts leading to this discovery and maiden lithium resource are critical next steps towards potential future commercialization,” commented Steve Hanson, CEO of ACME.
ACME Lithium last traded at $0.085 on the CSE.
Information for this briefing was found via Sedar and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
