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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Ultra Lithium Inc | TSXV:ULI | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.08 | 0.065 | 0.105 | 0 | 01:00:00 |
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Ultra Lithium’s Highlights of 23 Square Kilometre Brine Basin
Beijing Engineering Company Completes Gravity and Time Domain Electromagnetic (TDEM) Surveys A total of 39.2-line- kilometers of ground geophysical survey was completed in eight exploration lines, with azimuth of 137 degrees and 47 degrees from north. Total 312 Time Domain Electromagnetic (TDEM) points and 430 gravity points were measured at a spacing of 100 metres. As announced in Ultra Lithium’s June 25, 2018 News Release, the Company contracted Beijing Technology and Engineering Co., Ltd. (BETEC) from China to complete Gravity and Time Domain Electromagnetic (TDEM) surveys on its brine properties in Argentina.
Excellent Lithium Geochemical Analyses at Salar Laguna Verde Discovery Zone The geophysical surveys were planned and executed to follow-up excellent lithium geochemical analyses from the Salar Laguna Verde Discovery Zone. This was detailed in Ultra Lithium’s February 21, 2018 News Release, where assay results indicated brine samples with metal values up to 1,270 ppm lithium, 7,920 ppm magnesium, 15,800 ppm potassium, and 2,190 ppm boron. Average values of lithium in all samples is 526 ppm, boron 673 ppm, magnesium 1,916 ppm, potassium 7211 ppm and sodium 86,081 ppm. The Salar Laguna Verde Discovery Zone brine samples area is marked by low magnesium to lithium ratios, in the range of zero to 10.2 which will facilitate lower capital and operating costs.
“The geophysical survey results exceeded our expectations,” stated Dr. Weiguo Lang, CEO of Ultra Lithium, “Based on the geophysical survey interpretation, Ultra Lithium has developed a drill plan which has been submitted to the Catamarca Mining Ministry for permitting and approval.”
Ultra Lithium also announces that the survey work on the Amelia Brine Lithium Property has been completed and the results are being interpreted.
Qualified PersonThe technical information contained in this news release has been reviewed and approved by Afzaal Pirzada, P.Geo., a qualified person, as defined by NI 43-101 who works as Vice President Exploration of Ultra Lithium Inc.
About Ultra Lithium Inc. Ultra Lithium is an exploration and development company with a focus on acquisition and development of lithium assets. The Company currently holds five brine lithium properties in Argentina and hard rock spodumene type lithium properties at the Georgia Lake area in Ontario, Canada.
ON BEHALF OF THE BOARD OF DIRECTORS “Kiki Smith” Kiki Smith, CFO
For further information, please contact the Company at:Attention: Kiki SmithTelephone: 778 968-1176 Facsimile: 604 909-4682 Email:kiki@ultralithium.com Website: www.ultralithium.com or view the Company’s filings at www.SEDAR.com.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/2619e479-0c4a-42a8-9584-b882c96eb8ba
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