Ultra Lithium (TSXV:ULI) announced that results from the first drill hole and groundwater samples at its South Big Smoky Valley project indicate the presence of lithium bearing brine.

As quoted in the press release:

The following are the highlights of the data collected from hole BSH16-01:

• Assay results receive to date indicate anomalous values of lithium in drill core samples. The drill core logs show the presence of volcanic clays, organic matter and tuff at various depths which are documented to be contributed from Late Miocene to Pliocene tuffaceous lacustrine facies of the Esmeralda Formation. Several geological studies consider the Esmeralda Formation to be the source of lithium brine in the South Big Smoky and Clayton valleys. There are a few gypsum layers within sand and clay layers. The amount of volcanic material and tuffs increases with depth.
• The drill core data shows the presence of multiple sand aquifers down to a drilled depth of 1,000 feet (305 metres) below surface. Water level as measured on June 04, 2016 was at 2 feet (0.6 meters) below ground surface indicating artesian water pressure from a confined aquifer at 349 to 479 feet (106 to 146 metres). The aquifer is comprised of sand with intervening thin clay layers.
• Assays of groundwater samples taken at various intervals to a depth of 1,000 feet (305 metres) using Harris Exploration’s sampling technique indicated anomalous values of lithium. The Company has installed a well and has taken representative groundwater samples. The Company will disclose the result of the analyses on these waters samples as they are available.

Based on (CSAMT) geophysical survey data, two potential brine targets were interpreted at this borehole location. Drilling results confirmed that the first target continues down to approximately 500 feet (152 metres) below surface, whereas the second target begins at 700 feet (213 metres). The second target is expected to continue down to 1,800 feet (549 metres) below surface which was the proposed depth of this hole. Harris Exploration, the drilling contractor was only able to drill down to 1,000 feet (305 metres) with core drilling and the hole was stopped due to artesian water pressure.

Ultra Lithium CEO Weiguo Lang said:

We are very pleased with the information received from the first 1,000 feet of core drilling showing presence of brine and artesian groundwater aquifers. After this encouraging data, the Company has planned to bring a more powerful drill rig to complete this hole down to a depth of 1,800 feet and to drill the second hole to a depth of 2,200 feet. The brine target in the second hole is deeper and thicker than the first hole based on the previous geophysical survey (CSAMT). We are looking forward to the remaining assay results to gain a better understanding of the Big Smoky hydrogeological system.

Click here for the full press release.

Get Our Expert Guide to Lithium Investing FREE!

Download this FREE Special Report, Investing in Lithium Stocks Post Rockwood Lithium

Sponsored by Dajin Resources Corp.

The post Ultra Lithium Reports Assay Results From Big Smoky Valley appeared first on Investing News Network.