The Prospector News

Ultra Lithium Intersects 2.68 Percent Lithium Oxide at The Forgan Lake Lithium Property in Northern Ontario, Canada

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Ultra Lithium Intersects 2.68 Percent Lithium Oxide at The Forgan Lake Lithium Property in Northern Ontario, Canada

 

 

 

 

 

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).

 

Highlights

  • Drill Hole FL22-19 intersected two pegmatite zones with the upper 7 m wide pegmatite averaging 1.35% lithium oxide (Li2O) at 15.44 m drilled depth, including one meter of 2.68% Li2O and 2 m of 1.89% Li2O. The lower 6.81 m wide pegmatite averaged 0.52% Li2O at 26.44 m drilled depth, including the top one meter of1.08% Li2O.
  • Drill Hole FL22-20 intersected three pegmatites with the upper 11-meter-wide pegmatite averaging 1.1% Li2O at 7.95 m drilled depth. The lower two pegmatites are thinner in widths and lower grade (see Table 1 for details).
  • Drill Hole FL22-21 intersected three lithium pegmatites with the upper four meter wide pegmatite averaging 1.21% Li2O at 8 m drilled depth; the middle eight meter wide pegmatite averaging 1.13% Li2O at 16 m drilled depth; the lower seven meter wide pegmatite averaging 1.04% Li2O at 26 m drilled depth.
  • Drill Hole FL22-22 intersected an 18-meter-wide pegmatite with averaging 0.56% Li2O at 37.22 m drilled depth, including a two-meter-wide zone of 1.38% Li2O at 47.22 m depth.

 

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
  m m m % %
FL22-19 15.44 22.44 7 0.67 1.35
Including 15.44 16.44 1 1.24 2.68
  19.44 21.44 2 0.88 1.89
FL22-19 26.44 33.25 6.81 0.244 0.52
Including 26.44 27.44 1 0.5 1.08
           
FL22-20 7.95 18.95 11 0.51 1.1
Including 10.95 12.95 2 1.15 2.48
FL22-20 19.95 22.76 2.81 0.25 0.53
FL22-20 24.68 27.68 3 0.08 0.17
           
FL22-21 8 12 4 0.565 1.21
FL22-21 16 24 8 0.53 1.13
FL22-21 26 33 7 0.48 1.04
           
FL22-22 37.22 55.22 18 0.26 0.56
Including 47.22 49.22 2 0.645 1.38

 

Table 2: Drill hole details

 

Drill Hole ID Location NAD 1983 Zone 16N Elevation TD Azimuth Dip
  Easting Northing m m deg deg
FL22-19 407296 5464763 322 72 312.2 -75.5
FL22-20 407306 5464790 300 39 314.8 -44
FL22-21 407306 5464790 300 75 311.7 -74.4
FL22-22 407275 5464802 297 81 133 -45

 

Figure 1: Drill hole location map

https://www.globenewswire.com/NewsRoom/AttachmentNg/9060f36d-9b89-43c3-b295-157f464e74a0

 

Figure 2: Drill hole sections

https://www.globenewswire.com/NewsRoom/AttachmentNg/7d4700cb-ed61-4854-a7b1-df0d1237f67a

 

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.

 

Highlights

  • Lithium mineralization is comprised of six spodumene-bearing pegmatites
  • Three 2019 grab samples showed lithium values of 6.93% lithium oxide (Li2O), 6.90% Li2O and 4.88% Li2O
  • Historical exploration in the 1950s’ included 39 drill holes, aggregating 10,561 feet
  • Three historical channel cut samples returned average 2.57% Li2O over a width of 21 feet (6.4 m)
  • Two historical channel cut samples averaged 4.23% Li2O over 24.5 feet (7.46m)

 

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.

 

Posted February 8, 2023

Share this news article

MORE or "UNCATEGORIZED"


Koryx Copper Closes Non-Brokered Private Placement and Completes Share Consolidation

Koryx Copper Inc. (TSX-V: KRY) is pleased to announce that it has... READ MORE

June 17, 2024

First Mining Closes Upsized $7 Million Flow-Through Equity Financing

First Mining Gold Corp. (TSX: FF) (OTCQX: FFMGF) (FRANKFURT: FMG)... READ MORE

June 17, 2024

Cornish Metals Announces Sale of Nickel King Property

Cornish Metals Inc. (TSX-V: CUSN) (AIM:CUSN) is pleased to announ... READ MORE

June 17, 2024

McEwen Mining Announces Closing of Flow-Through Financing

McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to report it... READ MORE

June 14, 2024

FRONTIER LITHIUM INTERSECTS 136.7M OF 1.32% Li2O AND EXTENDS SPARK PEGMATITE

Frontier Lithium Inc. (TSX-V: FL) (FRA: HL2) (OTCQX: LITOF) is pl... READ MORE

June 14, 2024

Copyright 2024 The Prospector News