- United Lithium (CSE:ULTH), a little-known microcap lithium stock, has uncovered 15 lithium-bearing pegmatites on its 100 per cent owned Patriot project in Colorado
- Results reach as high as 3.97 per cent Li2O, with upcoming exploration focused on establishing connections between the pegmatites
- United Lithium is an exploration and development company focused on supplying the global demand for lithium
- United Lithium stock (CSE:ULTH) is down by 96.54 per cent over the past five years, but has gained 27.78 per cent year to date
Nine of the pegmatites constitute new discoveries, while the remaining six, though new to United, are present in historical records that have been confirmed in recent sampling.
United’s surface bedrock sampling program spanned Patriot’s entire 2,580 hectare land package in the Quartz Creek historical pegmatite mining district. The U.S. Geological Survey recorded more than 1,800 individual pegmatite occurrences at Quartz Creek during detailed surveying prior to 1952.
United’s highlight samples include 2.34 per cent Li2O, 1.61 per cent Li2O and 1.54 per cent Li2O. These are in addition to samples from four known historical mines and several historical test pits that returned 3.97 per cent Li2O, 3.38 per cent Li2O, 1.65 per cent Li2O and 1.16 per cent Li2O. Click here for full sampling results.
The largest lithium-mineralized pegmatite body exposed at surface has an outcrop strike length of 470 metres, with an average exposed width of 50 m and grades up to 1.84 per cent Li2O.
Locations of new occurrences relative to historically mapped lithium pegmatites and historical mine workings or prospect pits
“Our Patriot project lies within a past-producing lithium pegmatite district, yet until United began mapping and sampling, the area had not seen modern systematic exploration efforts. The multiple high-grade results of up to 3.97 per cent lithium oxide further support our enthusiasm of the discovery potential at Patriot. With 15 separate lithium-bearing outcropping pegmatite bodies, we are highly encouraged to advance towards a maiden drill campaign in the spring,” Scott Eldridge, United’s president and CEO, said in a statement.
Follow-up work will explore for connections between clustered occurrences that suggest a single pegmatite body.
The news follows new pegmatite discoveries at the company’s Bergby Lithium Project in Sweden and soil sampling at its Liberty Project in South Dakota following up on a successful 2022 reconnaissance sampling program.
United Lithium is an exploration and development company focused on supplying the global demand for lithium. It holds projects in Sweden, Finland, Canada and the United States, each of which benefits from either known deposits, historically mined pegmatite bodies, prospective sampling, or very active lithium exploration in the area.
United Lithium stock (CSE:ULTH) is down by 2.13 per cent trading at $0.23 per share as of 9:35 am ET. While the stock is down by an irrational 96.54 per cent over the past five years, especially when we consider Thursday’s news and the company’s additional assets, shares are up by 27.78 per cent year to date.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.