Proactive Investors - ACME Lithium Inc (CSE:ACME) received a promising exploration report for its Clayton Valley lithium brine project, estimating a significant inferred lithium carbonate equivalent resource over a 40-year extraction period.
The company, in collaboration with its operator GeoXplor, received a comprehensive exploration summary and hydrological evaluation report from Confluence Water Resources LLC.
The report outlines findings from both Phase 1 and Phase 2 exploration programs conducted at ACME's lithium brine project. The project, situated adjacent to Albemarle’s Silver Peak lithium deposit and facility, has shown promising results.
Confluence estimates an inferred lithium carbonate equivalent (LCE) resource of approximately 302,900 metric tons over a 40-year extraction period. This estimate is based on assessments of potential extractable brine volume and geophysical surveys covering a significant portion of the project area.
The inferred resource estimate, derived from geophysical surveys covering roughly 55% of the Project's 119 unpatented placer mining claims and data from testing in three drill holes, approximates 56,902 metric tons of elemental lithium.
Analysis of the lithium brine system suggests geothermal chemical affinities, with similarities to neighboring projects in Clayton Valley, ACME told investors.
The completion of various exploration tasks, including drilling and hydraulic testing, has provided essential data for modeling the potential volume of extractable lithium brine, according to the company.
"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," ACME CEO Steve Hanson said in a statement. "Our exploration efforts leading to this discovery and maiden lithium resource are critical next steps towards potential future commercialization."
The inferred resource estimation considers factors such as lithium concentration in the aquifer, geophysical patterns, and hydraulic parameters, ACME noted.
With the completion of the exploration program, ACME aims to further assess the feasibility of extracting lithium from the brine aquifer, potentially contributing to the growing demand for lithium resources.