Lithium Ionic drills 1.71% Li2O over 5.7m, 1.49% Li2O over 6.7m and 2.22% Li2O over 3.7m, at Bandeira Deposit, Minas Gerais, Brazil
December 21 2022 - 6:00AM
Lithium Ionic Corp. (TSXV: LTH; OTCQB: LTHCF) (“
Lithium
Ionic” or the “
Company”) reports assay
results from an ongoing drilling program at its 100%-owned Bandeira
property (formerly “Area 1”), in the state of Minas Gerais, Brazil.
Bandeira is located ~800m South from the lithium-producing CBL mine
and ~800m North from Sigma Lithium’s Grota do Cirilo property, the
largest lithium hardrock deposit in the Americas.
Bandeira Results Highlights
- 1.22% Li2O over 9.2m, incl. 1.71%
Li2O over 5.7m;and 2.46% Li2O over 2m (hole ITDD-22-024)
- 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)
Blake Hylands, Chief Executive Officer of
Lithium Ionic, commented, “We are very encouraged by the excellent
results coming from Bandeira. The definition of mineralization is
improving significantly as we continue to identify new parallel
zones of mineralized pegmatites at surface as well as down dip from
existing zones.” The current drilling program at Bandeira aims to
target near-surface mineralization associated with several lithium
soil anomalies covering a 1.3 km trend. The Company is aggressively
drilling its properties with a total of five drills and remains on
track to deliver an inaugural NI 43-101 compliant mineral resource
estimate in early 2023.
Bandeira is located 800 metres south of the
operating CBL lithium mine and 800 metres north of Sigma Lithium’s
construction-stage Barreiro project. Lithium-bearing
pegmatite/spodumene showings in this prolific mining jurisdiction
are characterized by high-grade and high-quality battery-grade
lithium as demonstrated by the nearby lithium producer as well as
published metallurgical work from adjacent properties.
The strong values announced today have confirmed
new parallel zones of mineralized pegmatites and confirmed
high-grade depth extensions of previous trench and drill results,
which is consistent with the style of deposition in this area,
which is characterized by several stacked and intercalated
pegmatite vein sets. Combined meterage over the length of drill
holes is significant, and these continued positive results support
the Company’s belief in a broad mineralized system at this target.
(See Figures 1 and 2).
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)
- 1.55% 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)
Lithium Ionic Completes Acquisition of
Borges Claims
The Company has successfully closed the
transaction which it announced on December 7, 2022, in which it
acquired three claims totaling 1,527 hectares, within the same
lithium basin as its other properties, in Minas Gerais, Brazil (see
Figure 3, location map). These newly acquired claims are located
along trend with the known lithium deposits in the Itinga Pegmatite
Field, including lithium producer CBL’s deposit, as well as Sigma
Lithium’s Xuxa and Barreiro deposits.
Several pegmatite occurrences have already been
identified on these properties and will be systematically explored
with the aim to define potential spodumene mineral resources.
Figure 1: Bandeira Drill Hole and
Section
Locations https://www.globenewswire.com/NewsRoom/AttachmentNg/9a63d768-f4c5-43b4-b49c-33f584d0a4f1
Figure 2: Section LT600 Facing
North-Easthttps://www.globenewswire.com/NewsRoom/AttachmentNg/af1182fe-6785-42b4-8e07-a8f90445bdec
Figure 3: Lithium Ionic Claims on
Geology
Maphttps://www.globenewswire.com/NewsRoom/AttachmentNg/cf3bcc6c-e3df-47cb-a05c-123b385f000c
Table 1. Bandeira Drill
Results
Hole ID |
Az |
Dip |
From |
To |
Metres |
Li2O (%) |
ITDD-22-017 |
150 |
-65 |
62.21 |
67.15 |
4.94 |
1.06 |
incl. |
|
|
64.21 |
67.15 |
2.94 |
1.29 |
ITDD-22-018 |
150 |
-65 |
NSV |
ITDD-22-019 |
150 |
-65 |
29.83 |
33.57 |
3.74 |
1.97 |
ITDD-22-020 |
150 |
-65 |
19.65 |
20.65 |
1.00 |
0.68 |
ITDD-22-021 |
150 |
-65 |
31.90 |
34.73 |
2.83 |
1.29 |
ITDD-22-022 |
150 |
-65 |
13.31 |
18.31 |
5.00 |
0.50 |
incl. |
|
|
14.31 |
16.31 |
2.00 |
0.70 |
ITDD-22-023 |
150 |
-65 |
Assays Pending |
ITDD-22-024 |
150 |
-65 |
28.14 |
37.35 |
9.21 |
1.22 |
incl. |
|
|
28.14 |
33.86 |
5.72 |
1.71 |
and |
|
|
159.72 |
161.72 |
2.00 |
2.46 |
ITDD-22-025 |
150 |
-65 |
67.62 |
71.31 |
3.69 |
2.22 |
ITDD-22-026 |
150 |
-65 |
12.73 |
14.72 |
1.99 |
0.49 |
ITDD-22-027 |
150 |
-65 |
21.21 |
29.09 |
7.88 |
0.45 |
ITDD-22-028 |
150 |
-65 |
38.64 |
40.25 |
1.61 |
1.95 |
and |
|
|
51.39 |
53.39 |
2.00 |
0.67 |
ITDD-22-029 |
150 |
-65 |
41.46 |
46.93 |
5.47 |
0.88 |
incl. |
|
|
44.28 |
46.93 |
2.65 |
1.29 |
and |
|
|
145.91 |
149.08 |
3.17 |
1.21 |
ITDD-22-030 |
150 |
-65 |
46.60 |
53.30 |
6.70 |
1.49 |
About Lithium Ionic Corp.
Lithium Ionic is a Canadian-based
lithium-focused mining company with properties covering ~2,000
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
development-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 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.
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