Acme Lithium samples up to 1.14% Li2O at Bailey Lake, Saskatchewan

Acme Lithium Inc. [CSE-ACME; OTCQX-ACLHF] recently received sample results from the August surface sampling and prospecting program at its Bailey Lake pegmatite project in northeastern Saskatchewan.

The program successfully identified numerous boulder and outcrop samples exhibiting anomalous lithium grades as well as other elevated LCT (lithium-cesium-tantalum) pegmatite indicator elements. The results are the highest ever sampled in the region and highlight the significant potential for high-grade mineralization within the project area.

Highlights: Samples grading up to 1.14% Li2O in boulders along trend of anomalous lithium values up to 0.73% Li2O identified in outcrop. Anomalous rare-earth indicator elements with samples grading up to 413 ppm (parts per million) tantalum (Ta) and 2,242 ppm tin (Sn).

Highest grading lithium samples coincident with magnetic low. Additional area to the southwest hosting pegmatites exhibiting anomalous tantalum values.

Detailed airborne magnetic plus radiometric plus lidar (light detection and ranging) survey completed over 7,975 Ha (hectares) of the property which will assist in further defining priority areas.

“We are encouraged by the results from this initial field program,” said Acme Lithium president and CEO Steve Hanson. “The focus of the campaign was to confirm and expand on the limited historic data based on lithium-bearing samples reported in 2017. We exceeded these expectations by not only confirming and improving on the historic grades but identifying additional areas hosting LCT pegmatites to the northeast and southwest. We believe this phase 1 exploration effort has only just scratched the surface as to the potential for high-grade lithium on the property. Northern Saskatchewan is underexplored for critical minerals, and the results of this program reinforce the potential of this area of the province to become a new lithium area of discovery.”

Acme Lithium has acquired or in under option to acquire a 100% interest in 18 contiguous mineral claims encompassing approximately 41,694 hectares (or 416 km2).

The geological prospecting program was conducted from August 28 to September 15 by the companies’ technical consultant, Axiom Exploration Group Ltd. The program included 336 samples (including 5% quality control samples) collected around the area of historically reported Li-bearing pegmatite boulder samples collected in the Bailey Lake area. The samples collected from the 2023 program consisted of exposed boulder and outcropping pegmatites, as well as country rock. Mineralogical, alteration and structural data (where possible) were also collected at these sample sites.

The results obtained from the 2023 sampling and prospecting program have confirmed and expanded on the lithium potential of the property. Pegmatites showing high lithium values have been identified approximately 300 metres up ice flow direction (NE (northeast)) of the 2017 Li bearing boulder samples (GemOil, 2017 – Ramaekers et al.). The initial data have indications that these Li bearing boulders are near source and elevated Li and Ta values in outcrop samples further support this theory. About five km to the southwest, sampling has identified another prospective area showing high Ta values in the pegmatites with numerous samples over 100 ppm Ta. The company’s technical team will be further analyzing and interpreting the data from the assay results in combination with the recently received geophysics to further refine exploration targets for further work.

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.

Acme has acquired or is under option to acquire a 100% 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.