HENDERSON, Nev., March 06, 2017 (GLOBE NEWSWIRE) -- U.S. Lithium Resources Inc. (OTC:LITH) (the “Company”) is pleased to announce that it has retained Dr. Larry Hulbert Senior Exploration Consultant with over 45 years experience working on properties with the same metallogeny as U.S. Lithium's Saskatchewan Cobalt/ Nickel/ Copper properties.
These properties have grades up to 3.92% Nickel, 0.70% Copper and 2.86% Cobalt as reported by the Saskatchewan government (Mineral Property # 0880).
Historical resource (non-NI43-101 compliant) estimates were generated in 1968 and 1990. The 1968 resource for the Gochagar deposit calculated 4.3 million tons grading 0.30% Ni and 0.08% Cu. J.S. Steel in 1990 reported that vertical and longitudinal sections were constructed from the existing data and an orebody with reasonably well defined limits was defined containing 1,770,000 tones at 0.735 percent nickel-equivalent.
Dr. Hulbert's input and technical expertise will be invaluable in moving forward on the Saskatchewan properties to develop a 3-D model of the ore body and in preparation of a new 43-101 report. This will enable U.S. Lithium to accurately plan a near term drill program to prove up further resources and moving the Company a step closer to becoming a Cobalt/ Nickel/ Copper producer.
We feel that 2017 will be a break out year for cobalt prices as prices have more than doubled in the last 9 months and increased 35% in the last month alone.
Gregory Rotelli, President of U.S. Lithium, states: "We are pleased to be able to retain such a knowledgeable and respected consultant to be working directly with U.S. Lithium and our board geologist Eric Allison to move the project forward in a very professional and timely manner."
This work will greatly benefit the Company and shareholders giving us the proper guidance and visual ability to see the 3-D size and shape of the ore body utilizing the latest modern day technology.
Forward-looking Statements:
Some of the statements contained in this press release are forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, including the risks and uncertainties related to the progress, timing, cost, and results of technology programs; competition from other companies; and the Company’s ability to obtain additional funding required to conduct its activities. Please refer to the company’s filings with the Securities and Exchange Commission for a comprehensive list of risk factors that could cause actual results, performance or achievements of the Company to differ materially from those expressed or implied in such forward looking statements. The Company undertakes no obligation to update or revise any forward-looking statements.
Contact: US Lithium Corp. Gregory Rotelli President ir@uslithiumcorp.com
