Ultra Lithium (TSXV:ULI) reported that assay results from its December 2015 sampling program have indicated anomalous values of lithium, boron and potassium at its South Big Smokey Valley lithium project in Nevada.
As quoted in the press release:
- Maximum values for lithium in sediments is 100 ppm, boron 480 ppm, and potassium 7,600 ppm, whereas the average lithium concentration in all sediment samples is 47 ppm, boron 142 ppm, potassium 4,915 ppm, and magnesium 6,685 ppm.
- The results confirmed the presence of lithium in the South Big Smokey hydrogeological system. Of particular interest is the northeastern area, of geophysical survey lines C, D, E and F showing consistent anomalous values of lithium, boron, and potassium.
- The Property is part of an enclosed basin or playa which is considered a prerequisite for trapping of lithium in brines. The rocks on the southwestern part of the valley were observed to be dipping inwards to the basin and overall slope of the basin is to the southwest.
Ultra Lithium CEO, Dr. Weiguo Lang, said:
The present sampling work has not only confirmed the presence of lithium in sediments of the South Big Smokey Valley but also enhanced our understanding of the South Big Smokey basin to develop future exploration plans. Our next challenge is to drill deep enough to intersect all potential brine bearing targets identified in geophysical and geological data collected so far. To accomplish this goal, the Company has planned to execute a drill program on the Property which will be announced soon.
Click here for the full press release.
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