08:47 AM EDT, 07/17/2024 (MT Newswires) -- United Lithium ( ULTHF ) said Wednesday that it commenced the 2024 exploration program in early June on five of its properties in Finland covering 105,000 hectares.

The program aims to identify lithium-cesium-tantalum-type pegmatites across the Kietyonmaki project, as well as the Kannus, Kova, Kast and Salkola property reservations.

"Our exploration efforts will focus on trying to identify lithium bearing boulders as well as pegmatite outcrops, which has proven to be a simple and effective way to make discoveries in the Nordics," said Scott Eldridge, United Lithium's ( ULTHF ) president and CEO.

Work is expected to continue until early September.

"We continue to focus our efforts in both Sweden and Finland, with the long-term goal of contributing to the [electric vehicle] sector in the European Union which will require additional lithium projects to keep up with demand," Eldridge said.

United Lithium's ( ULTHF ) share price dropped 8.33% yesterday to $0.22 on the CSE.