AT THE core OF U.S. LITHIUM PRODUCTION
the clayton valley project
Our Clayton Valley project is located in Esmeralda County, Nevada, a highly prospective region for lithium mining and development. The CC, CCP, JR, and SX Placer Claims reside in a historically lithium-rich area at the pinnacle of the power revolution. ACME recently filed a NI 43-101 technical report including the Company’s most significant milestone at Clayton Valley in March 2024: an estimated inferred lithium carbon equivalent (LCE) resource of 302,900 metric tons over a 40-year extraction period.
PROJECT HIGHLIGHTS
- Nevada is the best mining jurisdiction in America with neighboring world class lithium projects in the region
- Access to expertise, infrastructure, rail and roads, power and water
- Exploration can be conducted year-round with excellent weather, access, and logistics
- Las Vegas is less than 200 miles southeast
THE RIGHT PLACE AT THE RIGHT TIME
The U.S. Geological Survey has identified Clayton Valley as one of only three lithium-enriched areas in the world.
The project claims are located directly north of the only lithium brine production operation in North America, NYSE-listed Albemarle’s Silver Peak Lithium mine, which has been in production since 1966. Our Clayton Valley project has the potential to host lithium brines similar to Silver Peak, where samples analyzed up to 228 ppm lithium and concentrations up to +1,000 ppm have been found to occur within specific horizons of fine sediments.
To the east, the project borders Pure Energy Minerals joint venture with Schlumberger Technology Corporation. Further west, Ioneer’s billion-dollar Rhyolite Ridge Lithium-Boron Project has entered agreements with Ford Motor Co, Toyota Motor Corp, and Panasonic Corp to supply lithium for EV battery production in the United States, and the Department of Energy has issued a conditional commitment for a loan of up to US$700 million to finance the construction of the project.
Historic drill information and geophysical surveys at Clayton Valley show the claims cover basin-fill sediments and aquifers similar to the sediments currently producing lithium brines in the region.
There is evidence that the extensive valley growth faults provide an adequate plumbing system to foster brine reservoir accumulation for moving fluids around.
A MOMENTOUS DISCOVERY AT CLAYTON VALLEY
- In February 2024, ACME announced its exploration summary and hydrological evaluation report for its Phase 1 and Phase 2 programs at Clayton Valley
- The report estimates an inferred lithium carbonate equivalent (LCE) resource of approximately 302,900 metric tons (units rounded) over a 40-year extraction period based on an assessment of potential extractable brine volume which could be pumped from the project over time
- Chemical analyses suggest the lithium brine system at the project has geothermal chemical affinities
- Aquifer thickness, hydraulic parameters and lithium grades of the lower gravel aquifer at the Clayton Valley project claims are similar to values reported at other projects in the area
- The inferred resource was estimated assuming the deposit has potential direct connectivity to a larger regional resource as indicated from the water level trend analysis and geophysical surveys
GEOPHYSICS
ACME’s Fall 2021 survey of the project claims by Hasbrouck Geophysics reported positive results for potential lithium brine. The Phase 1 Gravity Survey and Phase 2 Hybrid Source Audio-Magnetotellurics (HSAMT) survey prioritized key drill locations to test for lithium concentrations within groundwater brines.
The geophysics program consisted of 50 separate HSAMT readings over seven lines. Three exploratory bore holes were recommended to investigate anomalies in a large target area of lithium brine potential up to 600 meters.
Based on low resistivity values, multiple areas and zones are interpreted to correlate to lithium brine occurrences in saline rich aquifers or brine saturated pebble gravel. Areas interpreted to correlate to zones with increased salinities and/or possible lithium-brine occurrence are present primarily in the east and southeast portions of the claims area and cover a larger area from near the surface to around 340 meters below ground surface.
Prior borehole sampling near the claims has found lithium-brine present from 85 meters to the total borehole depth of 370 meters with higher concentrations within pebble gravel.
PHASE 1 DRILL PROGRAM HIGHLIGHTS
- Launched June 2022 based on prospective lithium brine targets defined in Fall 2021 geophysical
- First drill hole (DH-1) was completed at 1,400 feet depth below ground surface; core of DH-1 was consistent with known basin stratigraphy
- Lithium was detected at concentrations ranging between 38 and 130 mg/L
- Lithium concentrations appear to increase in the vicinity of the deeper lacustrine tuff unit and in deep gravels underlaying the tuff near the bottom of the DH-1
phase 2 drill program
at CLAYTON VALLEY
Following ACME’s successful Phase 1 Drill Program lithium brine discovery, we launched an expanded Phase 2 multi-hole Drill Program in January 2023.
PHASE 2 HIGHLIGHTS
- Reached total depth of 1,940 ft at Drill hole 1A exploration borehole (DH-1A) in March 2023, hitting the bedrock at 1,820 ft
- Completed DH-1A in April 2023 and collected zone isolated brine sample from approximately 1,880 to 1,840 ft below ground surface; zone testing in bedrock indicates brines extend into the bedrock with lithium concentration up to 71 mg/L
- Drilled first test well (TW-1) to target the lower gravel unit (LGU), which extends from approximately 1,250 to 1,820 ft below ground surface
- Completed pumping test of TW-1 in August 2023 to examine the hydraulic properties of the brine aquifer and potential concentration of elemental lithium from the extracted brine
- Completed of a 10-day constant rate pumping test from TW-1 and used data to estimate hydraulic conductivity, transmissivity, and storability of the lithium brine aquifer penetrated
- Hydraulic parameters were used in forward looking hydrogeological simulations to model the potential volume of extractible lithium brine which could be extracted within the ACME project area over time