Ultra Lithium Inc. (TSX-V:ULI, OTCQB:ULTXF) unveiled brine sampling results from a drill hole at its 100% owned Laguna Verde brine lithium project in Catamarca Province, Argentina.
Drill hole LV22-04 assayed up to 417 parts per million (ppm) lithium from two rounds of sampling completed earlier this year, the company said in a statement.
A previous geophysical study of the first well LV22-01 indicated the presence of a continuous single brine aquifer comprising of mainly clastic sediments from 14 meters to 205 meters depth with a marked hydrothermal presence towards the deeper section, it added.
READ: Ultra Lithium says drilling at Forgan Lake lithium project intersected 2.68% lithium oxide
According to Ultra Lithium, the hole was drilled down to 227 meters and the brine aquafer was still open to the depth.
The first round of sampling was completed in January 2023 with a total of seven samples collected at various depths down to 112 m below surface.
The second round of sampling was completed later in the month, and a total of six samples (2 samples at every 12 hours interval) were collected at a depth of 120 metres (m) below surface.
According to Ultra, conductivity shows an increase with depth, which is interpreted to achieve better lithium concentrations through pumping and more cleaning of the well.
Overall concentration of ions and metals indicate a single unconfined aquifer down the sampling depth of 120 m.
“The assay results from Laguna Verde indicate great potential for the project interpreted as a single brine aquifer showing consistent values of lithium and other parameters down to an open depth of 227 meters,” said Dr Weiguo Lang, CEO of Ultra Lithium, in a statement.
“The company is in the process of carrying out pumping tests to determine the capacity of the aquifer and will be carrying out more sampling during the process for the hole LV22-04 while preparing for more and deeper drill holes in the near future.”
Assay results
Assays from Round One highlighted lithium values in the range of 386 ppm to 417 ppm with an average of 398 ppm.
Magnesium is in the range 851 ppm to 2215 ppm with an average of 1,902 ppm. The magnesium-to-lithium ratio is in the range of 2.2 to 5.7 with an average of 4.8.
Boron is in the range of 289 ppm to 392 ppm with an average 343 ppm.
Overall pH is generally neutral with an average value of seven, the company added, with average sulphate of 10,479 ppm and chloride 60,872 ppm.
Assays from Round Two included lithium values in the range of 256 ppm to 354 ppm with an average of 324 ppm. The company told shareholders that the lower lithium value in the second round was mainly due to the high precipitation during the period of time between Round 1 and Round 2 samplings.
Magnesium (Mg) is in the range 1153 ppm to 2007 ppm with average 1773 ppm. Mg to Li ratio is in the range of 4.5 to 5.7 with an average of 5.5.
Boron is in the range of 188 ppm to 344 ppm with an average of 294 ppm.
Overall pH is generally neutral with an average value of seven, and the average sulphate is 9,698 ppm, chloride 58,630 ppm.
Vancouver-based Ultra Lithium holds brine lithium properties in Argentina, hard rock spodumene type lithium properties in the Georgia Lake/Forgan Lake areas in northwestern Ontario, and a brine lithium property in the Big Smoky Valley, Nevada, as well as gold and base metals properties in Argentina.
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