ACME Lithium Inc. has commenced geological field work to further develop knowledge of lithium occurrences at ACME Lithium’s FLV claim group in Fish Lake Valley, Nevada.
The FLV claim group encompass 144 lode mining claims totalling approximately 2,975 acres, in Esmeralda County, Nevada. Historical sampling had occurrences of up to 600 ppm lithium. Fine sediments the same age as Clayton Valley occur on the property with some beds enriched in lithium.
ACME’s Fish Lake Valley project is directly west of ioneer Ltd’s world class Rhyolite Ridge Lithium-Boron project. On July 31st, 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 United States. Australia-based ioneer aims to produce about 21,000 tonnes of lithium in Nevada annually starting in 2025. It signed a supply deal with Ford Motor Co in mid-July and last year with South Korea’s Ecopro Co.
Follow up sub sampling as well as mapping at Fish Lake Valley is intended to better understand the geological model and focuses on 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.
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.