Ultra Lithium Inc.
TSX VENTURE : ULI

Ultra Lithium Inc.

December 22, 2016 09:00 ET

Ultra Lithium Samples 1.15 % Lithium Oxide Over 3 Metres at the Georgia Lake Hard Rock Lithium Project in Thunder Bay, Northwestern Ontario, Canada

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 22, 2016) - Ultra Lithium Inc. (TSX VENTURE:ULI) ("Ultra Lithium" or "the Company") is pleased to announce assay results from its recently concluded trenching and channel sampling program at its 100% owned Georgia Lake Lithium Project located in the Thunder Bay Mining District, Northwestern Ontario, Canada. The results of one of the three channels cut at Camp Pegmatite indicates 1.15 % lithium oxide (Li2O) over 3 metres. There are anomalous values of beryllium (Be), niobium (Nb), rubidium (Rb), and tantalum (Ta) in these channel samples.
Highlights of the Camp Pegmatite sampling program are (see table for details):

  • Channel CH16-01 intersects 1.1% Li2O over 2.29 m with Be 243 to 251 parts per million (ppm), Nb 51 to 66.4 ppm, Rb 752 to 972 ppm and Ta 34.8 to 69.2 ppm.
  • Channel CH16-02 intersects 1.07% Li2O over 1 m with Be 259 to 293 ppm, Nb 42.4 to 66 ppm, Rb 703 to 1270 ppm and Ta 27.3 to 52.7 ppm.
  • Channel CH16-03 intersects 1.15% Li2O over 3.0 m with Be 262 to 315 ppm, Nb 49 to 62.4 ppm, Rb 535 to 1090 ppm and Ta 29.8 to 43.6 ppm.

The fieldwork program was carried out by Pleson Geoscience in October - November 2016 after receiving permits from the Ministry of Northern Development and Mines (MNDM), Ontario. Camp Pegmatite exists on the south shore of Wood Pigeon Lake. Historical work exposed a small outcrop near the shore. The field crew continued stripping along strike until the overburden depth was too thick to proceed further. Camp Pegmatite is a 3-4m wide, strong spodumene growth near the center of the dike, with the margins exhibiting more aplite "zones" or veins. Pegmatite is near vertical with a strike of 325, and changes to 340 as the trench proceeds to the east. Grab samples indicated up to 2.73% lithium oxide, with some channels assaying up to 1.57% Li20 over 1m.

Dr. Weiguo Lang, CEO of Ultra, stated that, "We are very pleased with the channel sampling results from the first of the eight historically documented pegmatites on Ultra Lithium's Georgia Lake property. These areas present excellent exploration potential for discovering more lithium bearing pegmatites and will help us build a strong portfolio of lithium assets. The Company is also currently completing due diligence on its Argentinian brine lithium project located in the famous lithium triangle."

Samples were prepared by Actlabs' preparation lab in Thunder Bay, Ontario, and then shipped to Actlabs' analytical lab in Ancaster, Ontario, for analysis. Actlabs is an independent lab accredited by ISO 17025. The samples were digested using sodium peroxide fusion and analyzed for the major elements by ICP and trace elements by ICP/MS (Method: FUS-MS-Na2O2).

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 a consultant with the Company.

ON BEHALF OF THE BOARD OF DIRECTORS

Kiki Smith, CFO

About Ultra Lithium Inc.

Ultra Lithium is an exploration and development company with a focus on the acquisition and development of lithium assets. The Company is currently focused on acquiring promising lithium assets in Argentina located in the famous lithium triangle while exploring its Georgia Lake and South Big Smoky Valley Projects.

About the Georgia Lake Lithium Project:

The Company holds a 100% interest in the Georgia Lake lithium property comprising 16 mineral claims covering approximately 2416 in 151 units, located in the Thunder Bay Mining Division, Ontario, Canada. The project represents a stable and favourable mining jurisdiction, supportive First Nations and excellent infrastructure. It is located near provincial highway 11, 145 km from deep water port in Thunder Bay. The spodumene-bearing pegmatites of this area were first discovered in 1955. Majority of pegmatites are Lithium-cesium-tantalum (LCT) type where spodumene is the main lithium mineral.

A total of eight historically documented lithium pegmatites are located on the property.

View the Company's filings at www.SEDAR.com.

Table: Assay Results of Channel Sampling at the Georgia Lake Lithium Project

Channel Sample Li2O Width Be Nb Rb Ta Location UTM Zone 16 N
ID ID % m Intersection ppm ppm ppm ppm Easting Northing Azimuth
CH16-01 881101 0.17 1 < 3 5.4 158 < 0.2 431376.5 5470296 55
881102 0.26 0.97 251 66.4 972 69.2
881103 1.61 1.03 1.1 Li2O over 2.29m 249 58 949 34.8
881104 0.59 1.26 243 51 752 34.8
881106 0.35 1 < 3 6.8 248 < 0.2
CH16-02 881107 0.22 1.08 10 8.2 432 1.4 431385 5470290 65
881108 0.48 0.97 267 66 703 52.7
881109 1.07 1 1.07% Li2O over 1m 293 56.6 1270 37.1
881111 0.56 1.2 259 42.4 990 27.3
881112 0.18 1 5 6.3 294 < 0.2
CH16-03 881113 0.23 1 < 3 5.5 173 < 0.2 431412.9 5470263 70
881114 1.01 1 1.15% over 3.00m 262 55.4 586 43.6
881116 0.86 1 315 49 1090 29.8
881117 1.57 1 245 62.4 940 40.1
881118 0.09 1 264 53.8 535 35.8
881119 0.25 0.25 4 6.2 481 < 0.2

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