Skip to main content

Ultra Resources Restakes Ground at South Big Smoky Valley Area in Nevada, USA

Written by Customer Service on . Posted in Public Companies.

VANCOUVER, British Columbia, June 17, 2021 (GLOBE NEWSWIRE) — Ultra Resources Inc. (TSX-V: ULT) (“Ultra Resources” or “the Company”) announces that it has restaked 50 placer claims in the South Big Smoky Valley area in Esmeralda County, Nevada, USA. The placer claims were staked in two claim blocks where Ultra drilled two drill holes and carried out other exploratory work during the 2014-16 period. The drill core and surface sampling indicated anomalous values of lithium in sediments. Ultra’s ground geophysical survey (CSAMT – controlled source audio-frequency magnetotelluric survey) in 2014 interpreted low resistivity zones down to a depth of 1,000 metres in these claim areas. This Project has geological conditions favourable for hosting Lithium enriched brines.

South Big Smoky Valley shares a similar geology and weathering history to the Clayton Valley, located 16 miles (25.6km) to the south. The north end of Clayton Valley hosts Chemetall Foote Corporation’s Silver Peak Mine, the only lithium brine producer in the United States. Mine production comes from lithium enriched brines located below the surface. This plant has been in production since 1967.

Dr. Weiguo Lang, CEO of Ultra Resources, stated that, “The Company is pleased to rejuvenate its efforts to explore the South Big Smoky area again. This was prompted by a recent surge in the lithium and EV industry and higher lithium carbonate prices. The Company is working on evaluating its previous exploration work and developing a working plan for this area.”

Qualified Person
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 Vice President Exploration of the Company.

ON BEHALF OF THE BOARD OF DIRECTORS

“Kiki Smith”

Kiki Smith, CFO

About Ultra Resources Inc.
Ultra Resources Inc. is an exploration and development company with a focus on the acquisition and development of lithium, gold and copper assets. The Company holds hard rock spodumene type lithium properties at the Georgia Lake / Forgan Lake area in northwestern Ontario, Canada and a brine lithium property in Argentina. 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
Email: kiki@ultraresourcesinc.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.