VANCOUVER, British Columbia, Oct. 10, 2017 (GLOBE NEWSWIRE) -- Ultra Lithium Inc. (ULI.V) (“ULI” or “the Company”) is pleased to announce that it has received assay results from the September 2017 exploration work completed on two of the four brine lithium properties recently acquired by the Company in the Province of Catamarca, Argentina. The exploration work was completed on La Borita and Antefalla properties, and was comprised of drilling short holes in ground down to a depth of up to one meter below surface to take shallow brine samples, and to resample existing deep historical drill holes on La Borita. Highlights of the assay results are presented below and a table showing location and results of each sample is attached with this press release.
La Borita Brine Lithium Property
- Brine sample from Hole LB002 was 220 milligrams per liter (mg/L) lithium, 1140 mg/L magnesium, 423 mg/L boron and 1790 mg/L potassium.
- Brine sample from Hole LB004 returned 176 mg/L lithium, 4690 mg/L magnesium, 336 mg/L boron, and 579 mg/L potassium.
- Brine sample from Hole LBDDH005, a 650-meter-deep well, which was repeatedly sampled in the past returned lithium values 215 mg/L, magnesium 983 mg/L, boron 425 mg/L and potassium 1990 mg/L. These results are in line with the historical assay results reported in the Company’s press release dated June 27, 2017.
- Shallow subsurface brine samples indicate anomalous lithium values in the range of 3.1 mg/L to 45.8 mg/L, magnesium 379 mg/L to 4690 mg/L, boron less than 14 mg/L to 210 mg/L.
- The results indicate a deeper source of lithium concentration as samples from all deeper holes return significantly higher (3 to 4 times) values than the shallow subsurface samples.
- The Company is planning to carry out pump tests on deeper holes to determine the brine production capacity of each aquifer intercepted in drill holes. Historical core and drill logs are available for planning pump tests.
Antafalla Brine Lithium Property
- 12 shallow subsurface brine samples indicate anomalous values of lithium, in the range of 2.55 mg/L to 75.5 mg/L with an average of 31.8 mg/L.
- Magnesium values are in the range of 36.3 mg/L to 1100 mg/L with average 528.8 mg/L, boron less than 14 mg/L to 27.5 mg/L, potassium less than 15 mg/L to 1,390 mg/L.
- ULI’s Antafalla property is located adjacent to the north of Albemarle’s Antafalla property which was acquired by Albemarle from Bolland Minera in 2016.
- According to Roskill’s report of September 16, 2016, Bolland Minera, has to-date drilled 56 boreholes over 265 square km and defined a resource of 83Mt of potash (KCl) grading 6,400mg/l and 2.22Mt of lithium (11.8Mt LCE) grading 350mg/l.
- A review of historical drill logs of Bolland indicate that lithium grades tend to increase with depth. Ultra Lithium will plan to drill deeper holes after finishing the current exploration work program.
(Cautionary Note: The above information is taken from the publicly available source: https://roskill.com/news/lithium-albemarle-expands-argentina/, and the Company has not independently verified the information referenced and should not be relied upon. The information is not necessarily indicative of the mineralization on the ULI’s Antafalla Property, and is provide as background and context material for the reader. This information will be beneficial for the Company for developing next phase of exploration work on the Property.)
The samples were assayed at SGS Laboratories in Buenos Aires, Argentina. SGS is a global chain of independent certified laboratories. The samples were assayed by SGS method ME. 113 based on SM 3120, 23rd Edition. Field parameters of each sample were recorded which include: depth of water table from surface, total dissolved solids, temperature, conductivity, salinity, pH, and density.
The Company is also pleased to announce that the field exploration team has mobilized to continue shallow subsurface brine sampling on the remaining two properties in Catamarca Province, Argentina (Laguna del Salitre / Laguna de Aparoma Property and Archibara / Laguna Verde Property).
Dr. Weiguo Lang, CEO of Ultra Lithium, stated that, “We are very satisfied with the exploration work so far and its results which helped not only to confirm the historical data but also provide promising exploration targets for further work. The Company will develop an exploration program after completion of the current phase of shallow brine sampling on all the properties in Catamarca. The next phase of exploration will include pump tests at deeper holes on the La Borita Property and drilling deeper drill holes at few new targets identified on the Antafalla Property.”
Qualified Person
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”
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 holds two exploration properties at the South Big Smoky Valley brine lithium and the Georgia Lake hard rock spodumene type lithium project.
For further information, please contact the Company at:
Attention: Kiki Smith
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.
| Table 1: September 2017 Sampling at Antafalla and La Borita Projects | | | |
| Project | Mining
License | SAMPLE
ID | Sample Location
(WGS84) | Depth
(cm) | Bo mg/l | Ca
mg/l | Sr
mg/l | Fe
mg/l | Li
mg/l | Mg
mg/l | Mn
mg/l | K mg/l | Na
mg/l | Zn
mg/l | Ba
mg/l |
| Antofalla | AMELIA | 17CA001 | 19 J 655577 7203246 | 105 | 22.2 | 2220 | 36.4 | <1 | 27.3 | 503.0 | <1 | 288 | 24700 | <1 | <1 |
| Antofalla | AMELIA | 17CA002 | 19 J 653111 7203884 | 61 | <14 | 1780 | 38.4 | <1 | 15 | 337.0 | <1 | 179 | 13600 | <1 | <1 |
| Antofalla | AMELIA | 17CA003 | 19 J 652593 7202006 | 75 | <14 | 1240 | 35.5 | <1 | 66.5 | 1100.0 | <1 | 1390 | 95700 | <1 | <1 |
| Antofalla | AMELIA II | 17CA004 | 19 J 655127 7198254 | 90 | <14 | 1630 | 29.7 | <1 | 20.3 | 388.0 | <1 | 221 | 18400 | <1 | <1 |
| Antofalla | AMELIA II | 17CA005 | 19 J 656056 7201030 | 105 | 25.3 | 1370 | 32.4 | <1 | 75.5 | 1320.0 | <1 | 938 | 67700 | <1 | <1 |
| Antofalla | AMELIA II | 17CA006 | 19 J 655876 7199884 | 70 | 20.6 | 213 | 5.4 | <1 | 34.1 | 233.0 | <1 | 413 | 11200 | <1 | <1 |
| Antofalla | AMELIA II | 17CA007 | 19 J 654942 7197788 | 100 | <14 | 237 | 15.4 | <1 | 2.55 | 36.3 | <1 | <15 | 1910 | <1 | <1 |
| Antofalla | AMELIA II | 17CA008 | 19 J 652173 7201236 | 80 | 27.5 | 748 | 18.3 | <1 | 45.6 | 597.0 | <1 | 531 | 30600 | <1 | <1 |
| Antofalla | AMELIA I | 17CA009 | 19 J 655074 7196554 | 50 | 15.05 | 2030 | 38.9 | <1 | 25.2 | 533.0 | <1 | 293 | 32100 | <1 | <1 |
| Antofalla | AMELIA I | 17CA010 | 19 J 654923 7194848 | 100 | <14 | 2020 | 37.9 | <1 | 22.6 | 470.0 | <1 | 270 | 27100 | <1 | <1 |
| Antofalla | AMELIA I | 17CA011 | 19 J 654648 7193199 | 95 | 23.9 | 2190 | 431 | <1 | 28.9 | 534.0 | <1 | 450 | 29600 | <1 | <1 |
| Antofalla | AMELIA I | 17CA012 | 19 J 653674 7192417 | 60 | <14 | 1650 | 26.9 | <1 | 18.1 | 294 | <1 | 233 | 12300 | <1 | <1 |
| La Borita | 17 de Junio | 17CA013 | 19 J 652905 7194448 | 105 | 210 | 2190 | 11.7 | <1 | 26 | 3720 | <1 | 217 | 9870 | <1 | <1 |
| La Borita | 17 de Junio | 17CA014 | 19 J 610932 7088901 | 88 | 131 | 1080 | 15 | <1 | 45.8 | 4690 | <1 | 313 | 14000 | <1 | <1 |
La Borita
(DDH LB002) | 17 de Junio | 17CA015 | 19 J 610613 7089950 | 300 | 423 | 1970 | 37.4 | 25.1 | 220 | 1140 | 1.68 | 1790 | 48100 | 17.3 | <1 |
La Borita
(DDH LB004) | 17 de Junio | 17CA016 | 19 J 610576 7090116 | 700 | 336 | 1260 | 29.4 | <1 | 176 | 4820 | 5.06 | 579 | 29800 | <1 | <1 |
| La Borita | 17 de Junio | 17CA017 | 19 J 610077 7088621 | 90 | 57.3 | 694 | 6.42 | <1 | 6.72 | 1910 | <1 | 16.5 | 3570 | <1 | <1 |
La Borita
(DDH LB005) | 17 de Junio | 17CA018 | 19 J 610603 7090092 | 0 | 425 | 1660 | 32.8 | <1 | 215 | 983 | 3.63 | 1990 | 53200 | 10.4 | <1 |
| La Borita | 17 de Junio | 17CA019 | 19 J 615494 7084439 | 40 | 24.1 | 306 | <2 | <1 | 4.2 | 684 | <1 | 17.1 | 1700 | <1 | <1 |
| La Borita | 17 de Junio | 17CA020 | 19 J 615286 7084437 | 10 | 170 | 1940 | 8.8 | <1 | 22 | 2940 | <1 | 204 | 7380 | <1 | <1 |
| La Borita | 17 de Junio | 17CA021 | 19 J 609941 7087176 | 75 | 14.2 | 309 | <2 | <1 | 3.54 | 866.0 | <1 | <15 | 1390 | <1 | <1 |
| La Borita | 17 de Junio | 17CA022 | 19 J 612599 7085151 | 65 | <14 | 320 | <2 | <1 | 3.48 | 709.0 | <1 | <15 | 1190 | <1 | <1 |
| La Borita | 17 de Junio | 17CA023 | 19 J 613093 7086382 | 100 | 27.9 | 208 | <2 | <1 | 7.11 | 752.0 | <1 | 16.6 | 1790 | <1 | <1 |
| La Borita | 17 de Junio | 17CA024 | 19 J 613253 7086402 | 70 | <14 | 267 | <2 | <1 | 3.1 | 379 | <1 | <15 | 781 | <1 | <1 |
| La Borita | 17 de Junio | 17CA025 | 19 J 616128 7082587 | 85 | 18.3 | 983 | 8.48 | <1 | 8.7 | 896 | <1 | <15 | 2170 | <1 | <1 |