Lithium Ionic Corp. (TSXV: LTH; OTCQB: LTHCF; FRA: H3N) (“Lithium
Ionic” or the “Company”) reports assay results from an ongoing
drilling program at its 100%-owned Bandeira property, located in
the state of Minas Gerais, Brazil. Bandeira is located
approximately 500 metres South of Companhia Brasileira de Lítio’s
(CBL) Cachoeira mine, which has been producing lithium since 1993,
and approximately 700 metres North of Sigma Lithium’s Barreiro
lithium deposit, forming part of the largest hard rock lithium
deposit in the Americas (See Figure 1).
Bandeira Results Highlights
- 1.59% Li₂O over
9.62m, incl. 2.39 Li₂O over 5m (hole ITDD-22-039)
- 1.27% Li₂O over 10.09m, incl. 2.13%
Li₂O over 5.06m (hole ITDD-22-023)
- 1.61% Li₂O over
4.72m and 2.43% Li₂O over 1.40m (hole ITDD-22-038)
- 1.95% Li₂O over
1.60m within 0.78% Li₂O over 8.90m (hole ITDD-22-032)
- 1.43% Li₂O over
1.28 and 1.28% Li₂O over 4.88m (hole ITDD-22-035)
- 1.43% Li₂O over
4.36m (hole ITDD-22-043)
- 1.34% Li₂O over
2m (hole ITDD-22-036)
- 1.42% Li₂O over
3.31m (hole ITDD-22-045)
Blake Hylands, Chief Executive Officer of
Lithium Ionic, commented, “Results from Bandeira continue to
impress us, with latest intercepts returning some of the strongest
grades and thicknesses encountered to date at this target. We have
now identified an over 1km mineralized trend with at least six
different spodumene-bearing pegmatite bodies which remain open in
all directions. We continue to aggressively drill Bandeira as we
work towards delivering our maiden mineral resource estimate in the
coming months.”
To date, Lithium Ionic has completed over 11,000
metres (95 drill holes) of a planned 30,000-metres drill program,
focused primarily on its Bandeira and Galvani targets.
Approximately 5,800 metres (51 drillholes) have been drilled at
Bandeira, while approximately 5,600 metres have been drilled at
Galvani (44 drillholes). The drill campaign at Bandeira was
designed to target near-surface mineralization associated with
several lithium soil anomalies covering a ~1.3 km trend, which were
identified in early 2022.
To date, the Company has identified at least six
different NE-SW trending lithium-bearing LCT pegmatites. These
mineralized bodies range from 1 to 10 meters in width and can be
traced over a 1km strike length. The average depth of the lithium
zones drilled to date is approximately 150 metres, however the
Company has intersected strong lithium grades and thicknesses up to
300 metres below surface. The style of mineralization found to
date, characterized by several stacked pegmatite vein sets are
consistent with other nearby lithium deposits.
The strong values announced today have confirmed
new near-surface zones of mineralization, such as hole ITDD-22-023
which intersected 1.27% Li₂O over 10.09 metres within 25m from
surface (see Figure 2) and have also confirmed high-grade depth
extensions of previous trench and drill results, such as holes
ITDD-22-032 and ITDD-22-039 intersecting up to 1.59% Li₂O over
9.62m and 1.95% Li₂O over 1.60m (see Figure 3).
Previously announced drill highlights from
Bandeira include:
- 1.44% Li₂O over
8.33m (hole ITDD-22-012)
- 1.99% Li₂O over
6.75m (hole ITDD-22-011)
- 1.93% Li₂O over
5.66m (hole ITDD-22-002)
- 1.49% Li₂O over
6.7m (hole ITDD-22-030)
- 2.22% Li₂O over
3.7m (hole ITDD-22-025)
- 1.97% Li₂O over
3.7m (hole ITDD-22-019)
- 1.55% Li₂O over
5.2m (hole ITDD-22-001)
- 1.56% Li₂O over
3.90m and 1.66 Li₂O over 2.76 (hole ITDD-22-013)
- 1.22% Li₂O over 9.2m, incl. 1.71%
Li₂O over 5.7m; and 2.46% Li₂O over 2m (hole ITDD-22-024)
The Company recently mobilized a sixth drill rig
and continues to aggressively explore, with four rigs at Bandeira
and two at Galvani as it works towards completing a maiden NI
43-101 mineral resource estimate in the coming months.
Figure 1: Bandeira Drill Highlights,
Section Locations & Nearby Lithium Deposits
View Figure 1
here:https://www.globenewswire.com/NewsRoom/AttachmentNg/217185aa-e9de-4dc7-b739-dbe684cf5895
Figure 2: Section LT500 Facing
North-East
View Figure 2
here:https://www.globenewswire.com/NewsRoom/AttachmentNg/1fda79a1-0d99-4ed8-8120-64a38fb7a9fd
Figure 3: Section LT700 Facing
North-East
View Figure 3
here:https://www.globenewswire.com/NewsRoom/AttachmentNg/1cb3f4d5-d048-47f6-b334-ed07a58bb051
Figure 4: Section LT800 Facing
North-East
View Figure 4
here:https://www.globenewswire.com/NewsRoom/AttachmentNg/e856941a-8eb0-4b6f-9da1-4efb92651dbf
Figure 5: Lithium Ionic Claims Totalling
~3,600 ha Overlaid on Geology Map
View Figure 5
here:https://www.globenewswire.com/NewsRoom/AttachmentNg/787994f3-7e79-42fa-9d43-bf9b9e7b7e87
Table 1. Bandeira Drill
Results
Hole ID |
Az |
Dip |
From |
To |
Metres |
Li₂O (%) |
ITDD-22-023 |
150 |
-65 |
33.5 |
43.59 |
10.09 |
1.27 |
incl. |
|
|
38.53 |
43.59 |
5.06 |
2.13 |
and |
|
|
114.34 |
115.9 |
1.56 |
1.01 |
ITDD-22-032 |
150 |
-65 |
18.35 |
19.95 |
1.60 |
1.95 |
and |
|
|
130.30 |
139.20 |
8.90 |
0.78 |
ITDD-22-033A |
150 |
-65 |
6.05 |
8.05 |
2.00 |
0.50 |
ITDD-22-034 |
330 |
-65 |
17.42 |
21.10 |
3.68 |
0.52 |
incl. |
|
|
17.42 |
18.42 |
1.00 |
1.17 |
ITDD-22-035 |
150 |
-65 |
103.27 |
105.17 |
1.90 |
1.04 |
and |
|
|
111.93 |
113.21 |
1.28 |
1.43 |
and |
|
|
171.62 |
176.50 |
4.88 |
1.28 |
and |
|
|
178.50 |
181.02 |
2.52 |
0.54 |
ITDD-22-036 |
330 |
-65 |
39.10 |
45.10 |
6.00 |
0.90 |
incl. |
|
|
42.10 |
44.10 |
2.00 |
1.34 |
ITDD-22-038 |
150 |
-65 |
43.26 |
44.66 |
1.40 |
2.43 |
and |
|
|
67.32 |
71.32 |
4.00 |
1.04 |
incl. |
|
|
67.32 |
69.32 |
2.00 |
1.28 |
and |
|
|
98.13 |
102.85 |
4.72 |
1.61 |
ITDD-22-039 |
150 |
-65 |
86.24 |
95.86 |
9.62 |
1.59 |
incl |
|
|
86.24 |
91.24 |
5.00 |
2.39 |
ITDD-22-040 |
330 |
-65 |
55.90 |
56.90 |
1.00 |
1.36 |
ITDD-22-041 |
150 |
-65 |
37.16 |
37.97 |
0.81 |
0.60 |
ITDD-22-043 |
330 |
-65 |
38.05 |
42.41 |
4.36 |
1.43 |
ITDD-22-044 |
150 |
-65 |
NSV |
ITDD-22-045 |
330 |
-65 |
41.57 |
44.88 |
3.31 |
1.42 |
About Lithium Ionic Corp.
Lithium Ionic is a Canadian-based
lithium-focused mining company with properties covering ~3,600
hectares located in the prolific Aracuai lithium province in Minas
Gerais State, Brazil, which boasts excellent infrastructure,
including highways, access to hydroelectrical grid power, water,
and nearby commercial ports. Its Itinga and Galvani claims are
located in the same district as the lithium-producing CBL mine and
construction-stage Sigma Lithium Corp.’s large Barreiro and Xuxa
lithium deposits.
Quality Assurance and
Control
During the drill program, assay samples were
taken from NQ core and sawed in half. One-half was sent for
assaying at SGS Laboratory, a certified independent commercial
laboratory, and the other half was retained for results, cross
checks, and future reference. A strict QA/QC program was applied to
all samples. Every sample was processed with Drying, crushing from
75% to 3 mm, homogenization, quartering in Jones, spraying 250 to
300 g of sample in steel mill 95% to 150. SGS laboratory carried
out multi-element analysis for ICP90A analysis.
Qualified Persons
The technical information in this news release
has been prepared by Carlos Costa, Vice President Exploration of
Lithium Ionic and Blake Hylands, CEO and director of Lithium Ionic,
and both are “qualified persons” as defined in NI 43-101.
For more information please
contact:
Lithium Ionic Corp. Blake
Hylands, P.Geo.Chief Executive OfficerEmail:
bhylands@lithiumionic.com
Cautionary Note Regarding
Forward-Looking Statements
This press release contains statements that
constitute “forward-statements.” Such forward looking statements
involve known and unknown risks, uncertainties and other factors
that may cause the Company’s actual results, performance or
achievements, or developments to differ materially from the
anticipated results, performance or achievements expressed or
implied by such forward-looking statements. Although the Company
believes, in light of the experience of its officers and directors,
current conditions and expected future developments and other
factors that have been considered appropriate that the expectations
reflected in this forward-looking information are reasonable, undue
reliance should not be placed on them because the Company can give
no assurance that they will prove to be correct. When used in this
press release, the words “estimate”, “project”, “belief”,
“anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or
“should” and the negative of these words or such variations thereon
or comparable terminology are intended to identify forward-looking
statements and information. The forward-looking statements and
information in this press release include information relating to
the prospectivity of the Company’s mineral properties, the
Company’s ability to produce a NI 43-101 compliant mineral resource
estimate, the mineralization and development of the Company’s
mineral properties, the Company’s exploration program and other
mining projects and prospects thereof. Such statements and
information reflect the current view of the Company. Risks and
uncertainties that may cause actual results to differ materially
from those contemplated in those forward-looking statements and
information. By their nature, forward-looking statements involve
known and unknown risks, uncertainties and other factors which may
cause our actual results, performance or achievements, or other
future events, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. The forward-looking information
contained in this news release represents the expectations of the
Company as of the date of this news release and, accordingly, is
subject to change after such date. Readers should not place undue
importance on forward-looking information and should not rely upon
this information as of any other date. The Company undertakes no
obligation to update these forward-looking statements in the event
that management’s beliefs, estimates or opinions, or other factors,
should change.
Neither the TSXV nor its Regulation
Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this
press release.
Lithium Ionic (TSXV:LTH)
Historical Stock Chart
From Mar 2024 to Apr 2024
Lithium Ionic (TSXV:LTH)
Historical Stock Chart
From Apr 2023 to Apr 2024