Ultra Lithium samples 1.81% Li2O over 10 metres at Forgan Lake, Ontario

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Ultra Lithium Inc. [ULT-TSXV; ULTXF-OTC] reported assays for the first batch of channel sampling completed during Q4 2022 exploration work at its 100%-owned Forgan Lake lithium property in Northwestern Ontario, Canada.

The channel sampling was completed at the Number 1 Pegmatite and other pegmatites on the Property. The first two trenches / channels (Channels 1 and 2) cut 10 metres of lithium pegmatites each with 1.81% and 1.29% lithium oxide (Li2O), respectively. Anomalous values of other rare metals, including beryllium (Be), cesium (Cs), niobium (Nb), rubidium (Rb) and tantalum (Ta) were also returned.

Highlights: Channel 1 intersected 10 metres wide pegmatite with average 8,417 parts per million (ppm) lithium (Li) or 1.88% Li2O. The other rare metals assayed average 203.30 ppm Be, 33.99 ppm Cs, 64.27 ppm Nb, 998 ppm Rb, and 42.98 ppm Ta.

At Channel 1, a 3-metre wide section (Samples 906574-6) assayed average 2.52% Li2O, similarly, a one-metre section (sample 906571) assayed 2.86% Li2O.

Channel 2 also intersected 10 metres wide pegmatite with average 6,020 ppm Li or 1.29% Li2O. The other rare metals assayed average 207.3 ppm Be, 28.17 ppm Cs, 65.07 ppm Nb, 753.2 ppm Rb, and 38.75 ppm Ta. A one-meter section (Sample 906589) assayed 2.05% Li2O.

Both channels showed less than 1 percent iron (Fe) which can be a positive factor in metallurgical testwork for saving costs to remove impurities.

Both channels represent consistency in lithium grades. Each channel sample represents a one meter long, 5 cm wide and 3-5 cm deep cut in bedrock.

Dr. Weiguo Lang, CEO, “The first channel sampling results further validate the presence of near surface high grade lithium mineralization at the Forgan Lake property. We are excited to receive more results from 2022 drilling and further channel sampling in the coming weeks.”

The Forgan Lake property consists of approximately 256 hectares land in 20 mining claims located in the Thunder Bay Mining District of Northwestern Ontario. It is located adjacent to the north of Ultra Lithium’s Lucky Lake claim block comprised of 15 mining claims.

The property has excellent infrastructure support, and the First Nations communities are very cooperative for the economic progress of the region through development of mining resources. Historical work on the Forgan Lake Property was first carried out by Lun-Echo Gold Mines Limited during 1955-61 period. The exploration work included 39 drill holes, aggregating 10,561 feet drilling on the eastern side of Forgan Lake. Lithium mineralization on the Property comprised of six spodumene-bearing lithium pegmatites which are mostly parallel to the metasediments.

Highlights: Lithium mineralization is comprised of six spodumene-bearing pegmatites. Three 2019 grab samples showed Li2O values of 6.93%, 6.90% and 4.88%. Historical exploration in the 1950s’ included 39 drill holes, aggregating 10,561 feet.

Three historical channel cut samples returned average 2.57% Li2O over a width of 21 feet (6.4 m). Two historical channel cut samples averaged 4.23% Li2O over 24.5 feet (7.46m).

Ultra Lithium holds a brine lithium property in Argentina, hard rock spodumene type lithium properties at the Georgia Lake/Forgan Lake area in Northwestern Ontario, Canada, and a brine lithium property in the Big Smoky Valley, Nevada, USA. The company also holds other gold and base metals properties in Argentina.

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