Skip to main content

Ultra Resources Acquires New Lithium Claims to Expand Laguna Verde Property Size in Argentina

Written by Customer Service on . Posted in Public Companies.

VANCOUVER, British Columbia, March 17, 2021 (GLOBE NEWSWIRE) — Ultra Resources Inc. (TSX-V: ULT) (“Ultra Resources” or “the Company”) is pleased to announce that it has acquired additional lithium exploration claims for its 100% owned Laguna Verde brine lithium project in Argentina. The exploration License, ULTRA 1, covering 4,180 hectares land in Catamarca Province, and Mining License Archivarca N., covering 413 hectares land in Salta Province are granted to Ultra Argentina SRL, a wholly owned subsidiary of Ultra Resources Inc. Both licenses, located adjacent to the north of the existing Laguna Verde Property, were acquired to cover additional salar area considered favourable for lithium exploration.
The potential target area was identified in a ground geophysical survey carried out on the Property in 2018. The geophysical survey comprised of 39.2-line- kilometers of time domain electromagnetic (TDEM) and gravity survey in eight exploration lines. The survey results indicated high value brine lithium exploration targets in a salar core area of 3.4 square kilometers within a potential brine basin of 23 square kilometres with thickness of 100 to 150 meters. The surface of this salar area is covered by a high resistivity layer which is underlain by aeolian sediments and salt deposits. This interpretation will be confirmed by drilling and sampling.Dr. Weiguo Lang, CEO of Ultra Resources, stated that, “The Company is pleased to have acquired this additional brine lithium exploration area. While planning for continuing exploration work on this additional prospective ground, we are studying and selecting appropriate technologies for test production from Laguna Verde. Since its acquisition in 2017, we have carried out two rounds of brine sampling, completed a ground geophysical survey program, and evaporation test work on the Property. With the lithium industry trending toward sustainable long term growth, we are highly confident in achieving our goals on this high-grade lithium property.”Qualified PersonThe 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 Vice President Exploration of the Company.ON BEHALF OF THE BOARD OF DIRECTORS“Kiki Smith”Kiki Smith, CFOAbout Ultra Resources Inc.Ultra Resources is an exploration and development company with a focus on the acquisition and development of gold, copper and lithium assets. The Company currently holds a brine lithium property in Argentina, and one hard rock spodumene type lithium property at the Georgia Lake area in northwestern Ontario, Canada. The Company also holds other gold and base metals properties in Argentina.For further information, please contact the Company at:
Attention: Kiki Smith
Telephone: 778 968-1176
Facsimile: 604 909-4682
Email: kiki@ultraresources.com
Website: www.ultraresourcesinc.com
or view the Company’s filings at www.SEDAR.com.

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.