VANCOUVER, British Columbia, July 12, 2017 (GLOBE NEWSWIRE) -- Ultra Lithium Inc. (TSX-V:ULI) (“Ultra Lithium” or
“the Company”) is pleased to announce assay results from 2017 exploration work program at its 100% owned Georgia Lake Lithium
Project located in the Thunder Bay Mining District, Northwestern Ontario, Canada. The results of four short drill holes at various
spodumene pegmatites on the property indicate values up to 1.42% lithium oxide (Li2O) over 5 metres.
Highlights of the drill hole assay results are (see tables 1 and 2 for details):
- Drill Hole ULI-17-01 intersects 1.11% Li2O over 4
m from one metre below surface at Niemi Pegmatite
- Drill Hole ULI-17-02 intersects 1.08% Li2O over 5
m from one metre below surface at Newkirk Pegmatite
- Drill Hole ULI-17-03 intersects 0.76% Li2O over 1
m from 5 metres below surface at MNW Pegmatite
- Drill Hole ULI-17-04 intersects 1.42% Li2O over 5
metres from one metres below surface at Lucky Lake Pegmatite
(Note: All widths reported are drill core widths and have not been
converted into true width.)
The drill program was contracted to Pleson Geoscience and was completed during April-May 2017. A Shaw diamond
core drill with internal diameter of 41 mm was used to drill the four exploration holes down to a depth of six metres below
surface. Core samples were between 30 cm and 1.5 m. The samples were assayed by Actlabs lab in Ancaster, Ontario. Actlabs is an
independent lab accredited by ISO 17025. The samples were digested using sodium peroxide fusion and analyzed for the lithium
by ICP (Method: FUS-MS-Na2O2). Actlabs has its own quality control and quality assurance program in
place.
Dr. Weiguo Lang, CEO of Ultra Lithium, stated that, “We are highly satisfied with the results achieved for the
Georgia Lake project and will continue with deeper drilling during our 2017-18 exploration work program. Now, with the acquisition
of La Borita brine lithium project in Argentina, the Company has a balanced lithium portfolio comprising both hard rock and brine
types of exploration deposit models.”
The 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 VP Exploration with the Company.
ON BEHALF OF THE BOARD OF DIRECTORS
“Kiki Smith”
Kiki Smith, CFO
About Ultra Lithium Inc.
Ultra Lithium is an exploration and development company with a focus on the acquisition and development of lithium assets. The
Company is currently focused on acquiring promising lithium assets in Argentina located in the famous lithium triangle while
exploring its Georgia Lake and South Big Smoky Valley Projects.
About the Georgia Lake Lithium Project:
The Company holds a 100% interest in the Georgia Lake lithium property comprising 16 mineral claims covering approximately 2416 in
151 units, located in the Thunder Bay Mining Division, Ontario, Canada. The project represents a stable and favourable mining
jurisdiction, supportive First Nations and excellent infrastructure. It is located near provincial highway 11, 145 km from deep
water port in Thunder Bay. The spodumene-bearing pegmatites of this area were first discovered in 1955. Majority of pegmatites are
Lithium–cesium-tantalum (LCT) type where spodumene is the main lithium mineral.
A total of eight historically documented lithium pegmatites are located on the property.
|
|
|
|
Table 1. Drill hole assay results |
Drill Hole |
Sample ID |
Depth From (m) |
Depth To (m) |
Length of sample (m) |
Lithium Oxide % |
|
294101 |
0 |
1 |
1.00 |
0.27 |
|
294102 |
1 |
2 |
1.00 |
1.55 |
ULI-17-01 |
294103 |
2 |
3 |
1.00 |
1.79 |
|
294104 |
3 |
4 |
1.00 |
0.46 |
|
294105 |
4 |
5 |
1.00 |
0.67 |
|
294106 |
5 |
6 |
1.00 |
0.4 |
|
Average |
|
0.86 |
|
294107 |
1 |
2 |
1.00 |
0.22 |
|
294108 |
2 |
3 |
1.00 |
1.72 |
ULI-17-02 |
294109 |
3 |
4 |
1.00 |
0.35 |
|
294110 |
4 |
5 |
1.00 |
1.6 |
|
294111 |
5 |
6 |
1.00 |
1.5 |
|
Average |
|
1.078 |
|
294112 |
2 |
3 |
1.00 |
0.25 |
ULI-17-03 |
294113 |
3 |
4 |
1.00 |
0.05 |
|
294114 |
4 |
5 |
1.00 |
0.04 |
|
294115 |
5 |
6 |
1.00 |
0.76 |
|
Average |
|
0.275 |
|
294116 |
1 |
2 |
1.00 |
1.42 |
|
294117 |
2 |
3 |
1.00 |
1.04 |
ULI-17-04 |
294118 |
3 |
4 |
1.00 |
1.22 |
|
294119 |
4 |
5 |
1.00 |
1.7 |
|
294120 |
5 |
6 |
1.00 |
1.7 |
|
Average |
1.416 |
|
Table 2: Drill Hole Collar
Information |
Hole ID |
Easting |
Northing |
Azimuth |
Dip |
length of hole (m) |
#
of Samples |
ULI-17-01 |
434438 |
5461357 |
n/a |
90 |
8 |
6 |
ULI-17-02 |
431260 |
5464049 |
n/a |
90 |
6 |
5 |
ULI-17-03 |
426636 |
5453604 |
n/a |
90 |
6 |
4 |
ULI-17-04 |
406622 |
5464207 |
n/a |
90 |
6 |
5 |
Summary: |
|
|
|
|
26 |
20 |
For further information, please contact the Company at: Kiki Smith, CFO Telephone: 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.