U.S. Lithium Corp. (OTC Pink: LITH) is engaged as a natural resource mining company, which focuses on lithium, cobalt, nickel, copper and more. Shares of the natural resource company are gaining 11.43% through early trading on Monday, March 6, 2017. Over the past month, U.S. Lithium Corp. has seen average daily volume of 1.05 million shares. However, volume of 1.56 million shares or dollar volume of $91,260, has already exchanged hands through early trading Monday.
Shares of U.S. Lithium Corp. are climbing 11.43% Monday, after the company announced that it has hired Dr. Larry Hulbert, who will be the company’s Senior Exploration Consultant. The hiring of Dr. Hulbert comes as the company prepares to break ground on its cobalt, nickel, and copper properties. The property reportedly has grades consisting of 3.92% nickel, 2.86% cobalt, and 0.70% copper, according to the Saskatchewan government. Here is the full press release detailing of the latest hire and launch of mining:
U.S. Lithium Corp. Press Release:
HENDERSON, Nev., March 06, 2017 (GLOBE NEWSWIRE) — U.S. Lithium Corp. (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.
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.