Ultra Lithium Gets Permit, Signs Contract for Drilling at South Big Smoky Valley

Ultra Lithium (TSXV:ULI) has received its notice-of-intent exploration work permit from the Bureau of Land Management (BLM) to conduct Phase 1 exploratory drilling at its South Big Smoky Valley project in Nevada.
As quoted in the press release:

The purpose of this drill program is to test two of the several potential brine lithium targets identified in the Controlled Source Audio-Frequency Magneto-telluric (CSAMT) ground geophysical survey data interpretation report received in December 2015 (see Company’s press release dated March 07, 2016). The Company’s 2015 shallow subsurface sampling program also confirmed presence of anomalous lithium values in sediments (see March 14, 2016 press release).
The drilling is anticipated to commence in the fourth week of April 2016.
Dr. Weiguo Lang, CEO of Ultra, stated that, “We are very pleased to contract the drilling work to Harris Exploration, who is an experienced driller for brine lithium exploration at the Clayton Valley. The Company plans to continue exploration work at the South Big Smoky Valley brine lithium project based on the progress of Phase 1 exploratory drilling, which will test only two of the several potential brine lithium targets. The recent boom in lithium prices has been driven by new upcoming lithium-ion battery plants in North America and around the world. Our Company is progressing well to potentially become part of the lithium supply chain and add shareholder value”.
The Company is also pleased to announce that it has staked and registered 115 new placer claims in the south Big Smoky area.

Click here for the full press release.