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Acme Lithium (CSE:ACME,OTC:ACLHF) CEO Steve Hanson discussed the company’s lithium brine projects in Clayton Valley, Nevada — the only historical site of lithium production since 1966. The Acme property is immediately contiguous to these proven resources. After extensive work in 2021 to advance that work, Hanson notes, “We did some geological work, mapping, and two geophysics phases. Now, we’re leading up to drilling this lithium brine project.”
As for next steps, Hanson mentions a focus on determining economic discoveries, “Brine projects are really different from traditional metal discovery, when you’re dealing with hard rock or even clay. It’s more akin to drilling a water well or a reservoir with a certain amount of pressure, then that ultimately has certain parts per million of lithium contained within that brine or saltwater. For us, it’s a question of grade, and then the size and scale of that aquifer to determine how much lithium we have in a resource.”
Per Hanson, once there is a proven economic grade of lithium, a preliminary economic assessment (PEA) would follow. He notes,“ We will continue to drill in Clayton Valley. The goal here too is to inject the water back into the aquifer. So there’s subsequent drilling that will take place, further equipment that will be required, and we are evaluating what’s called direct lithium extraction (DLE) technology.”
To finance the company’s projects, Hanson notes, “We have stable financing with C$6.8 million in the bank. We’re backed by companies for an additional C$4.2 million, with support from Waratah Capital Advisors and the Probity Mining flow-through fund.”
Looking towards the future, Hanson says, “We’re excited about delivering on milestones this year. As a company, our vision is to build shareholder value.”
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The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.