TSX-V-listed explorer Ultra Lithium has entered into an agreement with fellow-listed International Lithium to buy the Forgan Lake lithium property, in Thunder Bay, in north-western Ontario.
The Forgan Lake property, consisting of about 256 ha land in 16 units, comprises one legacy claim adjacent to the Lucky Lake claim block on the north-western part of Ultra’s Georgia Lake property.
Previous exploration work by Lun-Echo Mines in the mid-1950s to early 1960s included 39 drill holes, aggregating 3 219 m drilling on the eastern side of Forgan Lake.
Lithium mineralisation on the property comprises six spodumene-bearing pegmatites, some of which continue onto the Lucky Lake claim block.
“This acquisition will enhance the exploration potential of our Georgia Lake claims and strengthen our relationship with International Lithium. The company intends to start a work programme on the property as soon as historical data compilation is completed. We will then follow up with a near term test production programme using high-grade surface mineralisation,” said Ultra Lithium CEO Weiguo Lang.