Ultra Lithium Inc. (TSX-V:ULT) (OTCQB: ULTXF) (Frankfurt: QFB) is pleased to announce that the Company has received the first batch of drilling results from four diamond drill holes at its 100% owned Forgan Lake Lithium Property in northwestern Ontario, Canada. The drilling was contracted to Diafore Drilling Inc. from Quebec who completed 31 NQ and HQ size core drill holes with a cumulative drilling of 3,635 metres. The results of four drill holes intersected lithium pegmatites of various widths (see Table 1 and 2 for details).
All intersections reported are based on drilled widths and have not been converted to the true width. The drill core was logged and sampled using a rock saw at Pleson Geoscience core shack located in Nipigon, ON. The samples were bagged and tagged using best practices and were delivered to Activation Laboratories, Ancaster, Ontario for sample preparation and analyses using laboratories code Ultratrace 7 and sodium peroxide fusion (Na2O2). ACTLABS is an independent commercial, accredited ISO Certified Laboratory. Ultra Lithium is preparing a CIM/NI 43-101 resource estimate based on the 31 drill holes completed in 2022 and 39 historical drill holes on the Property.
Dr. Weiguo Lang, CEO of Ultra Lithium, stated, “The first set of excellent drilling results at the Forgan Lake project have shown near surface high value lithium, which encourages the Company to continue exploring more spodumene bearing pegmatites in the area. The Company is also conducting processing and metallurgical tests with bulk samples from the drilled area.”
Afzaal Pirzada, P.Geo., VP Exploration of the Company, and a “Qualified Person” for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.
Table 1: Forgan Lake drill holes lithium intercepts highlights
|Drill Hole ID||Depth from||Depth To||Width||Li||Li2O|
Table 2: Drill hole details
|Drill Hole ID||Location NAD 1983 Zone 16N||Elevation||TD||Azimuth||Dip|
Figure 1: Drill hole location map
Figure 2: Drill hole sections
Forgan Lake Project
The Forgan Lake property consists of approximately 256 hectares land in 20 mining claims located in the Thunder Bay Mining District in Northwestern Ontario, Canada. It is located adjacent to the north of Ultra Lithium’s Lucky Lake claim block comprised of 15 mining claims. The Property has excellent infrastructure support, and the First Nations communities are very cooperative for the economic progress of the region through development of mining resources. Historical work on the Forgan Lake Property was first carried out by Lun-Echo Gold Mines Limited during 1955-61 period. The exploration work included 39 drill holes, aggregating 10,561 feet drilling on the eastern side of Forgan Lake. Lithium mineralization on the Property comprised of six spodumene-bearing lithium pegmatites which are mostly parallel to the metasediments.
About Ultra Lithium Inc.
Ultra Lithium Inc. is an exploration and development company with a focus on the acquisition and development of lithium, gold, and copper assets. The Company holds a brine lithium property in Argentina, hard rock spodumene type lithium properties at the Georgia Lake / Forgan Lake area in northwestern Ontario, Canada, and a brine lithium property in the Big Smoky Valley, Nevada, USA. The Company also holds other gold and base metals properties in Argentina.
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We acknowledge the [financial] support of the Government of Canada.