Highlights: Three water wells on site drilled to a total of 682m
UNWH-01 drilled to 300m
UNWH-02 drilled to 300m
UNWH-03 currently at 82m
Previously stated results on the drilling of three lithological diamond core drill holes for a total depth of 954m: notable two metre drill core results Include: UNDH-01: 123m at 278ppm lithium from 122m, with maximum lithium reported at 832ppm over 2m; o UNDH-02: 100m at 362ppm lithium from 65m, with maximum lithium at 601ppm over 2m and UNDH-03: 71.4m at 360ppm lithium from 3.6m with maximum lithium at 911ppm over 2m.
Having previously reported strong results from the lithological holes, the Company is now pleased to share that we are completing our third water well at the highly encouraging Urgakh Naran project,' said
The Company also announces that it has completed a non-brokered private placement for aggregate gross proceeds of
The proceeds from the issuance of the Shares will be used primarily for exploration activities at the Company's properties, as well as for general corporate purposes. The Offering is subject to receipt of all necessary regulatory approvals, including approval of the
The Company also announces that it has granted to certain consultants and insiders of the Company an aggregate of 2,072,000 incentive stock options (the 'Stock Options') to purchase common shares under the Company's incentive stock option plan (the 'Plan'). Each Stock Option is exercisable into a common share of the Company at a price of
The Company also announces that it has retained the services of
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Information set forth in this news release contains forward-looking statements. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as 'believes', 'anticipates', 'expects', 'estimates', 'may', 'could', 'would', 'will', or 'plan'. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, potential mineralization, exploration and development results, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Important factors that could cause actual results to differ materially from
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