United Lithium (CSE: ULTH) this morning released the first results from its sampling program at its Bergby Lithium Project in Sweden. Exploration was focused west of the previously drilled region on the property, where the company conducted sampling on several boulders.
Sampling results released this morning include samples returning 3.01% lithium oxide, as well as 2.82% lithium oxide and 2.12% lithium oxide. Results come from a region where mineralization is said to not be related to what was discovered previously from drilling, with the samples instead coming from a new mineralized body on the property.
Initial samples were found in a region said to be 300 to 500 metre northwest of the previously drilled zone on the property, with initial values encountered including 1.71% lithium oxide. As the firm traversed further, it encountered 3.33% lithium oxide 600 metres to the west of the previously drilled zone.
“An extensive area has been identified with spodumene bearing boulders, and we see significant potential to find multiple lithium bearing pegmatite dykes. We have consequently expanded the claim holding at Bergby to secure additional targets. Our mapping and sampling shall continue as long as weather permits, and drilling is expected to continue at least until year end,” said CEO Michael Dehn on the discoveries.
Further samples have reportedly been sent for assaying following the strong initial results observed by the company, while a soil sampling program has also been completed.
Outside of the sampling program, the company this morning indicated that additional claims have been added to the property, bringing the Berby property to a total of 10,458 hectares in size. Core drilling is also underway, which is expected to continue until the end of the year.
United Lithium last traded at $0.43 on the CSE.
FULL DISCLOSURE: United Lithium is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover United Lithium on The Deep Dive, with The Deep Dive having full editorial control. Additionally, the author personally holds shares of the company. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.