Ultra Lithium Begins Geophysical Work on Property Concessions in the Balkans (Serbia)
Vancouver (British Columbia), 23. July 2012. Ultra Lithium Inc. (TSX-V: ULI) ("Ultra" or the "Company") is pleased to announce that its geophysical staff has completed a comprehensive audiomagnetotelluric survey ("AMT") on the company's 643 square kilometer land package in the United States Republic of Serbia has begun. The data will be used to interpret the geometry of the basin and identify potential lithium and boron-containing horizons.
Ultras' seven mineral exploration licenses are located in well-defined sedimentary basins in southern Serbia.
The geophysical surveys are part of a Phase 1 exploration program to describe drill targets by performing geophysical surveys, geological mapping and soil sampling. The geophysical surveys and interpretations will be conducted by Bejing Explo-Tech Engineering Co. ("BETEC") of Beijing, China. The study will begin in previously mapped alteration zones and extend to the remaining concession areas. Over the next three months, a total of 19 lines with AMT measurements over 200 kilometers in length and 800 AMT measurement points will be carried out. To complement the results of the AMT study, the company plans to conduct further gravity measurements at the same time. Once the preliminary results have been collected and evaluated further geophysical surveys are planned.
"We look forward to quickly describing lithium and boron targets as well as evaluating our highly prospective properties in Serbia. We anticipate that our geophysical program will deliver a variety of exciting new drill targets, "said Marc Morin, President and CEO of Ultra.
The technical information in this news release has been prepared in accordance with NI 43-101's Canadian regulatory requirements and has been audited on behalf of the company by geophysicist Shahab Tavakoli, P.Geo., M.Sc., a "qualified person" under NI 43-101.
For more technical information on Ultras Concessions in the Balkans, click here: http://ultralithium.com/properties/balkans/
Highlights of the concession areas in the Balkans:
• Lithium / boron mineral exploration licenses in Serbia with a size of 643 square kilometers
• All seven exploration concessions are located in well-defined sedimentary basins.
• Proximity to infrastructure (rail / roads / sea), electricity and labor
Ultra is an 100% owner of its exploration licenses.
• Rio Tinto is conducting a preliminary feasibility study worth 27 million $ and forecasting production for 2016.1
• Rio Tinto's Jadar deposit could cover up to 20% of its annual global lithium demand, 1.
• The Jadariterz could be processed with the latest technology.2
For more information please contact President and CEO Marc Morin at 604-669-9788.
ULTRA LITHIUM INC.
On behalf of the board,
"Marc Morin"
Marc Morin, President & CEO
Statements made in this press release that are not based on historical facts are "forward-looking statements" that involve various risks and uncertainties. Such information is generally identified by the use of forward-looking terms such as "may," "anticipates," "estimates," "predicts," "intends," "believes," and "continues" or their denials or similar designations. Because of their nature, forward-looking statements relate to future events and circumstances and are therefore subject to risks and uncertainties. There is, for example, the risk that for any reason no degree takes place. The actual results may in individual cases deviate significantly from the results predicted in such statements. Factors influencing factors include (i) the parties concerned can not conclude the definitive agreement, (ii) fluctuations in commodity prices, (iii) changes in market conditions, (iv) the technical report is not prepared for any reason and (v) that the exchange supervisor does not approve the proposed transaction for any reason. The Company does not intend to update such statements in the event of changes unless required by applicable laws.
The TSX Venture Exchange and its regulators (referred to in the Articles of Association of the TSX Venture Exchange as Regulation Services Providers) accept no responsibility for the adequacy or accuracy of this announcement.
We comply with the Safe Harbor regulations.
Sources:
1 Serbian Lithium Under Focus, Critical Materials for Green Energy, September 2011
2 Jadar Project, IM Lithium Conference, Santiago, 28. January 2009
No liability is assumed for the accuracy of the translation! Please note english original message!
The original English message can be found at:
http://www.irw-press.at/press_html.aspx?messageID=25753
