​Company Highlights
- Ultra Lithium is a Canadian exploration and development company focusing on its diverse lithium and gold deposits.
- Ultra Lithium’s Canadian lithium assets, which target hard rock pegmatite deposits, have the advantage of a supportive local First Nations community.
- The company’s Laguna Verde lithium project in Argentina, within the famous Lithium Triangle, is being sold to Power Minerals (ASX:PNN) for up to 50 million shares in the company.
- An experienced management team leads Ultra Lithium with the expertise necessary to explore and develop its substantial assets.
Overview
Ultra Lithium Inc. (TSXV:ULT, OTCQB: ULTXF, Frankfurt: QFB), a Canadian mineral exploration and development mining company, is leveraging a portfolio of diversified lithium deposits to meet an ever-expanding global demand for this critical mineral that will help energize the world’s decarbonization efforts.
For years, lithium-ion batteries have powered mobile technologies like smartphones and laptops, but as the emergence of electric vehicles (EVs) continues to drive demand for this critical metal, lithium supply could face some challenges. To hit net-zero carbon emission goals, it is estimated the world would need 2 billion EVs on the road by 2050, which could lead to a global lithium shortage starting as soon as 2025.
Clean energy technologies currently represent roughly 30 percent of lithium demand, but that share is expected to hit 90 percent by 2040
Ultra Lithium is aggressively pursuing its lithium projects in Canada and the US, each at various stages of exploration.
The company’s Canadian assets include Georgia Lake and Forgan Lake, both of which have lithium pegmatite deposits. Developing partnerships with and gaining support from local First Nations communities are important aspects of Ultra Lithium’s core values. In September 2022, the company signed an exploration agreement with the Biinjitiwaabik Zaaging Anishinaabek (BZA) community for continuing exploration and future development of the Forgan Lake property with the support of the BZA community.
Ultra Lithium’s Argentina lithium brine project, Laguna Verde, covers over 7,569 hectares and is within the world-renowned Lithium Triangle, known for producing more than 50 percent of the world’s lithium. Its rich lithium brine deposits make it suitable for direct lithium extraction (DLE), an emerging extraction technology. DLE is a more sustainable, economical and time-sensitive method of extracting high-purity lithium compared to conventional methods.
On May 17, 2023, Ultra Lithium signed a binding term sheet to sell the Laguna Verde lithium-brine projects in the Catamarca Province for up to 50 million shares in Power Minerals. Ultra Lithium's previous agreement with Zangge Mining expired and the company looks forward to advancing its Argentina assets with Power Minerals..
Ultra Lithium is led by a team of managers and directors with diverse backgrounds throughout the natural resources industry. Expertise includes building strategic partnerships, corporate financing, mineral exploration and project development. The leadership team has the right experience to bring Ultra Lithium’s assets into production.
Company Highlights
- Ultra Lithium is a Canadian exploration and development company focusing on its diverse lithium and gold deposits.
- Ultra Lithium’s Canadian lithium assets, which target hard rock pegmatite deposits, have the advantage of a supportive local First Nations community.
- The company’s Laguna Verde lithium project in Argentina, within the famous Lithium Triangle, is being sold to Power Minerals (ASX:PNN) for up to 50 million shares in the company.
- An experienced management team leads Ultra Lithium with the expertise necessary to explore and develop its substantial assets.
Get access to more exclusive Lithium Investing Stock profiles here