Total
0
Shares
Source: Ultra Resources
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Ultra Resources (ULT) is planning to start work at its Laguna Verde Brine Lithium Project in Catamarca Province, Argentina
  • Previous exploration work included systematic surface brine sampling, ground geophysical surveys and bench-scale evaporation testwork
  • The company has obtained a drilling permit and is communicating with the mining department regarding the start date of work and other details
  • The company is currently assessing qualified contractors and suppliers for drilling and pumping test work
  • Ultra Resources is up 13.89 per cent, trading at $0.20 at 10:31 am ET

Ultra Resources (ULT) is planning to start work at its Laguna Verde Brine Lithium Project in Catamarca Province, Argentina.

The company’s previous exploration work included systematic surface brine sampling, ground geophysical surveys and bench-scale evaporation testwork.

The Vancouver-based mineral exploration company has obtained a drilling permit approved by the Catamarca Government and is communicating with the mining department regarding the start date of work and other details.

The company is currently assessing qualified contractors and suppliers for drilling and pumping test work.

Laguna Verde is a new brine lithium discovery where exploratory sampling conducted by the company indicates lithium values in the range of 34.2 to 1,270 milligrams per litre.

Results of a ground geophysical survey conducted in 2018, indicate high-value brine lithium exploration targets in a salar core area of 3.4 square kilometres within a potential brine basin of 23 square kilometres and a thickness of 100 to 150 metres.

A bench-scale evaporation test of approximately 4,000 litres of brine sample from Laguna Verde was carried out in Ultra Argentina laboratories. The results indicate that in a period of five months, the brine volume was reduced from 16 cubic metres to three cubic metres and lithium concentration increased from 391 to 6,760 ppm.

Ultra Resources is up 13.89 per cent, trading at $0.20 at 10:31 am ET.

More From The Market Herald
Amarillo Gold - Eric Sprott.

" Eric Sprott supports Hochschild Mining’s acquisition of Amarillo Gold (TSXV:AGC)

Eric Sprott has announced his voting support agreement for Hochschild’s acquisition of Amarillo Gold (AGC).

" Viscount Mining (TSXV:VML) samples silver and gold in Nevada

Viscount Mining (VML) is releasing results from its 2021 work program at the company’s Cherry Creek Project.
The Market Herald Video

" Orford Mining (TSXV:ORM) enters option agreement to acquire the Joutel Eagle Gold Exploration Property

Orford Mining Corporation (ORM) has reached a definitive agreement with Globex Mining Enterprises Inc.

" Globex Mining (TSX:GMX) options large land package

Globex Mining (GMX) has optioned the company’s Eagle Northwest, Gagné and Valrennes claim packages.