Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to announce that it is starting the second round of surface sampling with focus on the Salar Laguna Verde Discovery Zone in the Province of Catamarca, Argentina. The assay results from surface sampling in this area, announced in ULI’s November 07, 2017 press release indicated one sample with lithium (Li) value of 1100 parts per million (ppm) and a magnesium to lithium ratio of less than two. The field crew plans to mobilize to the property next week. Exploratory sampling will be carried out by collecting surface brines and shallow sub-surface brines down to a depth of approximately one meter.
Further review of the assay results by the Company’s technical team indicates a strong correlation of lithium values with brine density measured in the field (See Table Below). The other controlling physical parameters are pH, total dissolved solids (TDS) and the influence of fresh water from alluvial fans in the catchment area of Laguna Verde Salar. ULI’s working model for exploration is that the potential source of lithium in the lagoon and subsurface is hydrothermal movement of lithium through a system of faults. A northwest–southeast running fault structure has been identified in the field and on satellite images which is considered a possible source of lithium concentration in this brine. This interpretation of the results will be used as a guideline for future sampling and testing work.
Table 1: Correlation of October 2017 Sampling Data from Laguna Verde with Physical Field Parameters
|Project||Area||Sample||WGS84||TDS gr/l||SAL||Cond||Resis.||PH||Density||Li mg/l||Mg mg/l||K mg/l||Na mg/l|
|Laguna Verde||Laguna Verde II||17CA029||19 J 607380 7198451||13.55||7.7||13.55||73.8||8.6||1010||14.0||87.9||262||2650|
|Laguna Verde||Laguna Verde II||17CA030||19 J 606573 7198467||>200||>70||226||4.39||7.4||1250||1100.0||1900||14100||127000|
|Laguna Verde||Laguna Verde II||17CA031||19 J 606275 7198901||>200||>70||232.5||4.87||7.5||1200||514.0||490||8870||97400|
|Laguna Verde||Laguna Verde II||17CA032||19 J 606202 7199362||85.5||59.5||85.5||11.69||8.5||1050||92.5||542||1340||23800|
|Laguna Verde||Laguna Verde I||17CA033||19 J 603634 7200748||25||14.9||25||40||8.1||1015||24.8||323||351||4980|
|Laguna Verde||Laguna Verde I||17CA034||19 J 602873 7197649||143.7||>70||143.7||6.95||8.4||1100||199.0||234||2620||44400|
|Laguna Verde||Laguna Verde I||17CA035||19 J 602859 7198645||37.4||23.2||37.4||26.7||8.8||1035||39.4||154||522||8780|
|Laguna Verde||La Maru||17CA036||19 J 606062 7200840||53.5||34.5||53.5||18.7||8.8||1035||48.9||355||723||13000|
|Laguna Verde||La Maru||17CA037||19 J 606070 7201410||124.4||>70||124.7||8.07||8.4||1080||147.0||1180||2240||34900|
|Laguna Verde||La Maru||17CA038||19 J 604608 7201220||54.5||35.2||54.5||18.35||8.2||1030||57.5||565||1020||12300|
|Laguna Verde||Griselda||17CA039||19 J 603012 7197999||150.6||>70||150.6||6.64||8.5||1100||202.0||240||2680||45600|
Dr. Weiguo Lang, CEO of Ultra Lithium, stated that, “We are very excited about the Laguna Verde discovery and want to continue exploring this area as a priority while we continue working on other brine properties in Argentina. This phase of exploration will help to increase our understanding of the lithium concentration mechanism and its controlling geological processes. Our efforts to acquire and explore Argentinian brine lithium assets is paying off in a big way.”
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 holds two exploration properties at the South Big Smoky Valley brine lithium and the Georgia Lake hard rock spodumene type lithium project.
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 Vice President Exploration of the Company.
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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