- Ultra Resources (ULT) has signed a deal with a contractor to carry out drilling at its Laguna Verde Brine Lithium Project
- The deal also includes brine sampling
- The project is located in Catamarca Province, Argentina
- The contractor is scheduled to commence mobilization in the second week of January to set up the field camp and transport drilling equipment
- Exploration work is aimed at identifying the depth of the Laguna Verde basin
- Ultra Resources is up 7.14 per cent, trading at $0.22 at 11:41 am EST
Ultra Resources (ULT) has signed a deal with a contractor to carry out drilling at its Laguna Verde Brine Lithium Project.
The deal also includes brine sampling.
The project is located in Catamarca Province, Argentina.
Vancouver-based Ultra Resources owns 100 per cent of the Laguna Verde project.
The contractor is scheduled to commence mobilization in the second week of January to set up the field camp and transport drilling equipment.
The exploration work is aimed at identifying the depth of the Laguna Verde basin, as well as confirming the potential of the aquifer in terms of porosity, permeability and effective porosity.
Work will also assess the quality of the brine in terms of the content of lithium and other salts, and log the number and types of aquifers and their thickness with the potential to host economically viable lithium brine mineralization.
“Diamond drill holes will be completed to define subsurface stratigraphy and for carrying out in-situ density/permeability tests of various sedimentary units down to a depth of up 400 metres,” according to a company statement.
Laguna Verde is a new brine lithium discovery where exploratory sampling conducted by Ultra Resources has shown lithium values in the range of 34.2 to 1,270 milligrams per litre.
The government of Catamarca has approved the exploration program and issued a drilling permit.
Ultra Resources is up 7.14 per cent, trading at $0.22 at 11:41 am EST.