Heliborne magnetic and radiometric surveys to aid in identifying structures, geology and alteration
Metallurgical test work planned to quantify lithium recoveries and ancillary elements recoveries for Tantalum, Cesium and Niobium
United Lithium Corp. (CSE: ULTH; OTC: ULTHF; FWB: 0UL) (“ULTH” or the “Company”), is pleased to announce that it expects to complete the previously announced acquisition (the “Acquisition”) of the Bergby Lithium Project (the “Project”), located in central Sweden, 25 km north of Gavle, from Leading Edge Materials Corp. (see news release dated February 11, 2021) during the second quarter of 2021. The Company is actively preparing a drilling program (the “Program”) to commence promptly after completion of the Acquisition and to be carried out over three phases. The Program is expected to be completed on or before December 31, 2021.
Phase one of the Program (“Phase One”) contemplates the Company drilling along strike and down dip from previously indicated lithium mineralization at the Property. This phase will consist of 3,000 metres of drilling and is expected to take approximately six (6) weeks to complete.
During Phase One, the Company also plans on conducting a heliborne magnetic and radiometric airborne survey to test for structural controls on pegmatites which may bear lithium as well as on general geology and faulting. Further, a high resolution airborne lidar survey is planned to provide a detailed topographic surface representation to aid in providing accurate elevation and general terrain data on the Project.
Prior to commencement of phase two of the Program (“Phase Two”), surface and drill core samples will be sent for metallurgical test work to quantify recoveries of any lithium mineralization from the Project. Potential in recovering Cesium, Tantalum and Niobium for economic evaluation will also be tested.
Phase Two is intended to better define any lithium mineralization within the known mineralized zone, and to complete drill spacing acceptable for a NI 43-101 compliant resource calculation. Phase Two also contemplates 3,000 metres of additional drilling, which could potentially help the Company establish a resource report and plan for future drill programs.
Phase three of the Program (“Phase Three”) contemplates continuing drilling, to a depth of 3,000 metres, along strike exploration of potential lithium targets, and testing potential parallel lithium zones. This is expected to assist the Company in verifying and validating any newly identified targets.
Michael Dehn, President and CEO states, “the Project offers United Lithium at and near surface lithium mineralization indications for targeting and testing, and with excellent logistics, provides stakeholders with a realistic opportunity for rapid understanding of the potential of the Project. We believe that Bergby ticks all the boxes: it’s in the right place, at the right time, and the right commodity. We look forward to completing the acquisition and to commencing the work program.”
On Behalf of The Board of Directors
Chief Executive Officer
Forward-Looking Statements Caution. This news release contains “forward-looking information” within the meaning of applicable securities laws relating to statements regarding the Company’s business, products and future of the Company’s business, its product offerings and plans for marketing. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking information. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements. Except as required by law, the Company expressly disclaims any obligation and does not intend to update any forward-looking statements or forward- looking information in this news release. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct and makes no reference to profitability based on sales reported. The statements in this news release are made as of the date of this release.