Ultra Lithium Assays Up to 417 ppm Lithium in Drill Hole at the Laguna Verde Brine Lithium Project in Argentina
February 28 2023 - 7:30AM
Ultra Lithium Inc. (TSX-V:ULT, OTCQB: ULTXF and Frankfurt: QFB)
(“Ultra Lithium” or “the Company”) is pleased to announce the brine
sampling results from a drill hole at its 100% owned Laguna Verde
brine lithium project in Catamarca Province, Argentina. Drill hole
LV22-04 assayed up to 417 parts per million (“ppm” or “mg/L”)
lithium (Li) from two rounds of sampling completed in January –
February 2023. Earlier, the geophysical study of the first well
LV22-01 indicated the presence of a continuous single brine aquifer
comprising of mainly clastic sediments from 14 meters to 205 meters
depth with a marked hydrothermal presence towards the deeper
section. The Laguna Verde project is the flagship project of the
Company and one of the Company’s 100% owned brine lithium projects
in Argentina.
Results Highlights:
- The hole was drilled down to 227
meters. The brine aquafer was still open to the depth.
- The first round of sampling was
completed on January 18, 2023, where a total of seven samples were
collected at various depths down to 112 m below surface. The second
round of sampling was completed on January 25, 2023, and a total of
six samples (2 samples at every 12 hours interval) were collected
at a depth of 120 m below surface.
- Conductivity shows an increase with
depth, which is interpreted to achieve better lithium
concentrations through pumping and more cleaning of the well.
- Overall concentration of ions and
metals indicate a single unconfined aquifer down the sampling depth
of 120 m.
Round 1 Assays
- Lithium (Li) values are in the
range of 386 ppm to 417 ppm with an average of 398 ppm.
- Magnesium (Mg) is in the range 851
ppm to 2215 ppm with average 1,902 ppm. Mg to Li ratio is in the
range of 2.2 to 5.7 with an average of 4.8.
- Boron is in the range of 289 ppm to
392 ppm with average 343 ppm.
- Overall pH is generally neutral
with an average value of 7.
- Average sulphate is 10,479 ppm,
chloride 60,872 ppm.
Round 2 Assays
- Lithium (Li) values are in the
range of 256 ppm to 354 ppm with an average of 324 ppm. The lower
Li value of Round 2 was mainly due to the high precipitation during
the period of time between Round 1 and Round 2 samplings.
- Magnesium (Mg) is in the range 1153
ppm to 2007 ppm with average 1773 ppm. Mg to Li ratio is in the
range of 4.5 to 5.7 with an average of 5.5.
- Boron is in the range of 188 ppm to
344 ppm with average 294 ppm.
- Overall pH is generally neutral
with an average value of 7.
- Average sulphate is 9,698 ppm,
chloride 58,630 ppm.
Dr. Weiguo Lang, CEO of Ultra Lithium, stated,
“The assay results from Laguna Verde indicate great potential for
the project interpreted as a single brine aquifer showing
consistent values of lithium and other parameters down to an open
depth of 227 meters. The Company is in the process of carrying out
pumping tests to determine the capacity of the aquifer and will be
carrying out more sampling during the process for the hole LV22-04
while preparing for more and deeper drill holes in the near
future.”
Sampling Procedures
The drill hole LV22-04 was drilled at location:
S 25° 18' 51,3"; W 67° 57' 55,7"; at elevation 4034 MASL down to a
depth of 220 meters with a six-inch diameter using a rotary drill
machine. The well was then reamed to a diameter of 9 7/8 inches.
Brine sampling was carried out using a bailing device which was
opened at the required depth of sampling. Field parameters of the
samples such as pH, dissolved oxygen, and conductivity were noted.
The samples were collected in the laboratory supplied bottles and
were shipped to SGS laboratories in Salta, Argentina which is an
independent accredited global laboratory. The samples were analyzed
using codes mentioned in Tables 1 and 2.
Highlights of Laguna Verde Brine Lithium
Project
Laguna Verde is a new brine lithium discovery
where exploratory sampling conducted by the Company has shown
lithium values in the range of 34 to 1,270 milligrams per liter
(mg/L) – (see ULT press release dated February 2, 2018). The
Company’s previous exploration work from 2017-2021 included surface
brine sampling, ground geophysical surveys and bench scale
evaporation testwork. The Laguna Verde mineralized brines are
marked by low magnesium to lithium ratios, in the range of zero to
10 which can result in lower production costs.
In 2018, the Company also completed a 39.2-line-
kilometers of ground geophysical survey. The survey results
indicate high value brine lithium exploration targets in a salar
core area of 3.4 square kilometers within a 23 square kilometre,
100- to 150-meter-thick sedimentary basin with the potential to
host lithium-brines. Interpretation of gravity survey data show a
major fault system exists to the east of the Laguna Verde Salar and
also indicates the presence of a 2.4-kilometer-thick Cenozoic
basin, which requires further exploration.
In 2018, a bench scale evaporation test of
approximately 4,000 litres of brine sample from Laguna Verde was
carried out in Ultra Argentina laboratories located in Salta. The
density of the original brine sample was 1156 and its lithium
concentration was 391 ppm. Two types of evaporation tests were
conducted. The first test included evaporating 179 litres of brine
sample in an external pool located outside to match natural
evaporation conditions. The results indicate that in a period of
five months, the brine volume was reduced from 16 cubic metres (m3)
to 3 m3 and lithium concentration increased from 391 to 6,760 ppm.
Major salts produced during this process were Halite,
Felsobanyaite, Silvite, Lithium Sulfate and Potassium, Carnalite,
Kainite and Gypsum. The second test was conducted inside in
controlled conditions. The results indicated that the original
brine volume of 2,326 m3 was reduced to 85.06 m3 and the lithium
concentration increased from 391 to 7,370 ppm (see ULT press
release dated September 24, 2021).
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 a mineral exploration and development company with a
focus on the acquisition and development of lithium, gold, and
copper assets. The Company holds brine lithium properties in
Argentina, hard rock spodumene type lithium properties in the
Georgia Lake / Forgan Lake areas in northwestern Ontario, Canada,
and a brine lithium property in the Big Smoky Valley, Nevada, USA.
The Company also holds gold and base metals properties in
Argentina.
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 Email:
kiki@ultralithium.com Website: www.ultralithium.com or view the
Company’s filings at www.SEDAR.com.
Cautionary Statement Regarding
“Forward-Looking” InformationSome 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.
Neither TSX Venture Exchange nor its Regulations
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Table 1: Round 1 sample results
Sample ID |
Unidad: |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
Average |
Método: |
Depth |
m |
38.8 |
38.8 |
70.4 |
70.4 |
85.0 |
112.4 |
112.4 |
|
|
Densidad a 20°C |
kg/m3 |
1071 |
1078.4 |
1077.8 |
1079.5 |
1085.6 |
1086.4 |
1086.1 |
1,080.69 |
ASTM D4052-18a |
Densidad a 20°C |
G/ML |
1.071 |
1.0784 |
1.0778 |
1.0795 |
1.0856 |
1.0864 |
1.0861 |
1.08 |
ASTM D4052-18a |
Alcalinidad |
mg CaCO3/l |
1285 |
3405 |
1195 |
1155 |
1025 |
1020 |
1010 |
1,442.14 |
Basado en SM 2320 B - 23rd Edition |
Bicarbonatos |
mg CaCO3/l |
1285 |
1725 |
1195 |
1155 |
1025 |
1020 |
1010 |
1,202.14 |
Basado en SM 2320B - 23rd Edition |
Carbonatos |
mg CaCO3/l |
<1 |
1680 |
<1 |
<1 |
<1 |
<1 |
<1 |
|
Basado en SM 2320B - 23rd Edition |
Cloruros |
mg/L |
53623 |
56907 |
58443 |
60666 |
65685 |
65028 |
65749 |
60,871.57 |
Basado en SM 4500Cl-D - 23rd Edition |
Conductividad |
uS/cm |
151700 |
167400 |
180900 |
162900 |
170000 |
172800 |
178300 |
169,142.86 |
Basado en SM 2510 B 23rd Edition |
Dureza (por cálculo) |
mg/L |
8960 |
4030 |
9650 |
9880 |
10600 |
10600 |
10700 |
9,202.86 |
Basado en SM 2340B - 23rd Edition |
Bario |
mg/L |
<10 |
<10 |
<10 |
<10 |
<10 |
<10 |
<10 |
|
SGS.ME.342 |
Boro |
mg/L |
289 |
392 |
316 |
331 |
356 |
359 |
357 |
342.86 |
SGS.ME.342 |
Calcio |
mg/L |
604 |
210 |
566 |
594 |
610 |
610 |
618 |
544.57 |
SGS.ME.342 |
Estroncio |
mg/L |
<10 |
<10 |
<10 |
<10 |
<10 |
<10 |
<10 |
|
SGS.ME.342 |
Hierro |
mg/L |
<10 |
<10 |
<10 |
<10 |
<10 |
<10 |
<10 |
|
SGS.ME.342 |
Litio |
mg/L |
387 |
386 |
398 |
398 |
411 |
417 |
388 |
397.86 |
SGS.ME.342 |
Magnesio |
mg/L |
1808 |
851 |
2000 |
2040 |
2203 |
2195 |
2215 |
1,901.71 |
SGS.ME.342 |
Manganeso |
mg/L |
<10 |
<10 |
<10 |
<10 |
<10 |
<10 |
<10 |
|
SGS.ME.342 |
Potasio |
mg/L |
3811 |
4331 |
3907 |
4070 |
4308 |
4380 |
4078 |
4,126.43 |
SGS.ME.342 |
Sodio |
mg/L |
31237 |
35550 |
33725 |
35345 |
38153 |
37964 |
37656 |
35,661.43 |
SGS.ME.342 |
Zinc |
mg/L |
<10 |
<10 |
<10 |
<10 |
<10 |
<10 |
<10 |
|
SGS.ME.342 |
pH |
UpH |
6.8 |
8.8 |
6.8 |
6.8 |
6.8 |
6.8 |
6.7 |
7.07 |
Basado en SM 4500 H B 23rd Edition |
Solidos Suspendidos Totales |
mg/L |
64 |
660 |
62 |
64 |
80 |
480 |
60 |
210.00 |
Basado en SM 2540 D - 23rd Edition |
Solidos Totales Disueltos |
mg/L |
108500 |
122500 |
115500 |
120000 |
129000 |
140500 |
130000 |
123,714.29 |
Basado en SM 2540 C - 23rd Edition |
Sulfatos |
mg/L |
9360 |
10525 |
9870 |
10220 |
11089 |
11245 |
11047 |
10,479.43 |
Basado en SM 4500 D - 23rd Edition |
Table 2: Round 2 sampling results
Sample ID |
Unit |
CLVW4008 |
CLVW4010 |
CLVW4011 |
CLVW4012 |
CLVW4013 |
CLVW4009 |
Average |
Método: |
Depth |
m |
120 |
120 |
120 |
120 |
120 |
120 |
|
|
Densidad a 20°C |
kg/m3 |
1086.9 |
1082.8 |
1084.6 |
1081.1 |
1077.8 |
1054 |
1,077.87 |
ASTM D4052-18a |
Densidad a 20°C |
G/ML |
1.0869 |
1.0828 |
1.0846 |
1.0811 |
1.0778 |
1.054 |
1.08 |
ASTM D4052-18a |
Alcalinidad |
mg CaCO3/l |
930.5 |
1018.7 |
955 |
1028.5 |
783.6 |
1439.9 |
1,026.03 |
Basado en SM 2320 B - 23rd Edition |
Bicarbonatos |
mg CaCO3/l |
931 |
1019 |
955 |
1028 |
784 |
1440 |
1,026.17 |
Basado en SM 2320B - 23rd Edition |
Carbonatos |
mg CaCO3/l |
<1 |
<1 |
<1 |
<1 |
<1 |
<1 |
|
Basado en SM 2320B - 23rd Edition |
Cloruros |
mg/L |
65821 |
62327 |
63374 |
61973 |
58428 |
39857 |
58,630.00 |
Basado en SM 4500Cl-D - 23rd Edition |
Conductividad |
uS/cm |
134500 |
130100 |
132800 |
128200 |
124500 |
94460 |
124,093.33 |
Basado en SM 2510 B 23rd Edition |
Dureza (por cálculo) |
mg/L |
9820 |
9460 |
9670 |
9220 |
8270 |
6020 |
8,743.33 |
Basado en SM 2340B - 23rd Edition |
Bario |
mg/L |
<10 |
<10 |
<10 |
<10 |
<10 |
<10 |
|
SGS.ME.342 |
Boro |
mg/L |
344 |
317 |
324 |
308 |
281 |
188 |
293.67 |
SGS.ME.342 |
Calcio |
mg/L |
621 |
614 |
620 |
602 |
492 |
510 |
576.50 |
SGS.ME.342 |
Estroncio |
mg/L |
<10 |
<10 |
<10 |
<10 |
<10 |
<10 |
|
SGS.ME.342 |
Hierro |
mg/L |
<10 |
<10 |
<10 |
<10 |
<10 |
<10 |
|
SGS.ME.342 |
Litio |
mg/L |
354 |
343 |
344 |
333 |
311 |
256 |
323.50 |
SGS.ME.342 |
Magnesio |
mg/L |
2007 |
1924 |
1971 |
1873 |
1710 |
1153 |
1,773.00 |
SGS.ME.342 |
Manganeso |
mg/L |
<10 |
<10 |
<10 |
<10 |
<10 |
<10 |
|
SGS.ME.342 |
Potasio |
mg/L |
3006 |
2877 |
2939 |
2802 |
2588 |
1832 |
2,674.00 |
SGS.ME.342 |
Sodio |
mg/L |
39353 |
37024 |
37722 |
37043 |
35636 |
24498 |
35,212.67 |
SGS.ME.342 |
Zinc |
mg/L |
<10 |
<10 |
<10 |
<10 |
<10 |
<10 |
|
SGS.ME.342 |
pH |
UpH |
7 |
7.1 |
6.9 |
7 |
7 |
7 |
7.00 |
Basado en SM 4500 H B 23rd Edition |
Solidos Suspendidos Totales |
mg/L |
540 |
530 |
270 |
180 |
510 |
210 |
373.33 |
Basado en SM 2540 D - 23rd Edition |
Solidos Totales Disueltos |
mg/L |
130350 |
123200 |
123800 |
120650 |
113950 |
79650 |
115,266.67 |
Basado en SM 2540 C - 23rd Edition |
Sulfatos |
mg/L |
11187 |
10381 |
10529 |
10109 |
9668 |
6314 |
9,698.00 |
Basado en SM 4500 D - 23rd Edition |
Ultra Lithium (TSXV:ULT)
Historical Stock Chart
From May 2024 to Jun 2024
Ultra Lithium (TSXV:ULT)
Historical Stock Chart
From Jun 2023 to Jun 2024