Ultra Resources Begins Metallurgical Testwork for La Rioja Gold Project in Argentina

VANCOUVER, British Columbia, July 09, 2020 (GLOBE NEWSWIRE) -- Ultra Resources Inc. (TSX-V: ULT) (“Ultra Resources” or “the Company”) is pleased to announce that it has shipped two bulk samples with a total weight of 849 kilograms from its Gold Project in La Rioja Province, Argentina to China for metallurgical testing. Bulk sample # 101 is from Callanas mining license and #102 is from Al Espinillo mining license. To make it a representative sample of mineralization style on the property, the sample was collected from multiple quartz veins (464 kilograms) and the historical dump material (385 kilograms) from each mine as summarized below:

Callanas Mine (Sample 101)
The sample was taken from two locations at the Callanas VI quartz vein area. The first location is an old exploration camp site where a 3.5-metre-thick quartz vein is exposed within a 40 metre deep historical workings. The vein has a strike of 130° dipping vertically. Mineralization is in the form of malachite, limonite, and other sulfides with silicification / sericite alteration. The dump material is located 40 metres to the north of the pit around the old camp site. The second location is from and old incline where 1.5-metre-thick quartz vein is exposed, shows massive hematite alteration, high density, with a strike of 110° and vertical dip. The Dump sample was taken from the material piled at the edges of the incline.

Al Espinillo Mine (Sample 102)
The sample was taken from the edge of a 40 metre deep historical mine workings where an approximately four-metre-wide fractured quartz vein having a strike of 110° dipping vertically is exposed. Mineralization is in the form of malachite, chalcopyrite, and other sulfides. Sericite and copper oxide alteration is common. The dump material is located around the old mine workings.

About the Metallurgical Testwork
The Company has contracted Yantai Xinhai Mining Research & Design Co., Ltd., Shandong, China (“Xinhai”) to carry out the following metallurgical testwork.

1. Head grade sample analysis for gold, silver, and other elements.
2. Particle size analysis: The sample will be screened into several fractions to measure the contents of each fraction and distribution rate of various metals.
3. Determination of true density and bulk density of the mineralized rock.
4. Determination of mineral processing technical parameters and process flows of gold recovery from the samples.
5. As the sample represents a polymetallic mineralized material, containing gold, silver, copper, lead, zinc, etc. The test will focus mainly on gold recovery.
6. The preliminary test scheme for mineral processing of the bulk sample is the gravity concentration plus nonconventional environmentally friendly gravity tailings leaching tests.
7. If other valuable elements such as copper have influence on gold recovery, the corresponding recovery process will be carried out to improve the recovery rate of gold.
8. Conduct dehydration test on mineral processing products.
9. Based on the test results and considering the requirements of capacity and other conditions of mineral processing designs, Xinhai will provide recommendations for equipment selection, water and electricity requirements and other economic parameters.

Dr. Weiguo Lang, CEO of Ultra Resources, stated that, “Although we are facing tough challenges due to the Global Pandemic effects of COVID-19, the Company has been very successful in keep things going on the projects side. The metallurgical testwork will be a leap forward in developing small scale production plans to process available historical dump material at our La Rioja Gold mines while exploring the underground gold resources based on the historical exploration work by JICA and ASGO.”