Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to announce that it has started drilling at its 100% owned South Big Smoky Valley brine lithium project in Nevada, USA. The contractor, Harris Exploration Drilling has mobilized to the property and started the first of the two holes of the Phase 1 exploratory drill program.
The purpose of this drill program is to test two of the several potential brine lithium targets identified in the Controlled Source Audio-Frequency Magneto-telluric (CSAMT) ground geophysical survey data interpretation report received in December 2015 (see Company’s press release dated March 07, 2016). The Company’s 2015 shallow subsurface sampling program also confirmed the presence of anomalous lithium values in sediments (see March 14, 2016 press release).
Dr. Weiguo Lang, CEO of Ultra Lithium, stated, “We are very excited about the commencement of the Phase 1 drill program to test two of the most prominent drill targets identified as a result of the Company’s 2014 and 2015 exploration work.”
The technical information contained in this news release has been reviewed by Afzaal Pirzada, P.Geo., who is a member of the Association of Professional Engineers and Geoscientists of British Columbia. Mr. Pirzada, who works as a consultant with the Company has supervised the preparation of this news release and approves the scientific and technical content. Mr. Pirzada is a Qualified Person as defined in National Instrument 43-101.
About the South Big Smoky Valley Brine Lithium Project
The Company holds a 100% interest in the Big Smoky Valley Project comprising 659 placer claims covering approximately 13,000 acres’ land located in Nevada, USA. This Project has geological conditions favourable for hosting Lithium enriched brines. The Project is located 16 miles to the north of Albemarle Corp.’s Silver Peak mine, which is the only brine lithium producing project in North America, and has been producing lithium from brines since 1966. The Company has completed a ground CSAMT geophysical survey and surface sediment / water sampling programs on the project and intends to be drilling in April 2016.
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 North American acquisitions and exploring its Big Smoky Valley Project located in Nevada, USA. The Big Smoky Valley project is in the vicinity of Abermarle’s Silver Peak mine and only 310 kilometres from Tesla’s upcoming Gigafactory.
On behalf of the Board of Directors
Kiki Smith, CFO
Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “plans”, “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
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