Lithium Ionic Files NI 43-101 Technical Report for Mineral Resource Estimate at Bandeira and Outro Lado, Minas Gerais, Brazil
August 11 2023 - 12:06PM
Lithium Ionic Corp. (TSXV: LTH; OTCQB: LTHCF; FSE: H3N) (“Lithium
Ionic” or the “Company”) reports that it has filed a technical
report, in accordance with National Instrument 43-101 - Standards
of Disclosure for Mineral Projects ("NI 43-101"), with respect to
an NI 43-101 mineral resource estimate (the “MRE”) for the
100%-owned Itinga Lithium Project (Bandeira and Outro Lado
deposits), located in Minas Gerais, Brazil, titled “Mineral
Resource Estimate for Lithium Ionic, Itinga Project, near Araçuai
Village, Minas Gerais State, Brazil” (the "Technical Report") and
dated August 10, 2023 (with an effective date of June 24, 2023).
On June 27, 2023, the Company announced a maiden
NI 43-101 compliant mineral resource estimate on its Itinga Lithium
Project (the “Project”) in Minas Gerais, Brazil, of 7.57 million
tonnes (“Mt”) grading 1.40% lithium oxide (“Li2O”) of Measured and
Indicated (“M&I”) and 11.86Mt grading 1.44% Li2O of Inferred
resources. Please refer to the Company’s press release dated June
27, 2023 and the Technical Report for additional information
regarding the MRE and the Project.
The Technical Report was prepared for Lithium
Ionic by SGS Geological Services (“SGS”). The Qualified Persons
responsible for preparing the MRE and the Technical Report are
Maxime Dupéré, P. Geo, and Faisal Sayeed, P. Geo.
The Technical Report can be found on SEDAR
(www.sedar.com) under Lithium Ionic’s issuer profile and on the
Company's website at www.lithiumionic.com.
About Lithium Ionic Corp.
Lithium Ionic is a Canadian mining company
exploring and developing its lithium properties in Brazil. Its
flagship Itinga and Salinas projects cover 14,182 hectares in the
northeastern part of Minas Gerais state, a mining-friendly
jurisdiction that is quickly emerging as a world-class hard-rock
lithium district. The Itinga Project is situated in the same region
as CBL’s Cachoeira lithium mine, which has produced lithium for +30
years, as well as Sigma Lithium Corp.’s Grota do Cirilo project,
which hosts the largest hard-rock lithium deposit in the
Americas.
Qualified Persons
Each of Maxime Dupéré, P. Geo, and Faisal
Sayeed, P.Geo, of SGS is a Qualified Person as defined by NI 43-101
and has reviewed and approved the technical information and data
regarding the MRE included in this news release. Each of Mr. Dupéré
and Mr. Sayeed is independent of Lithium Ionic. All other
scientific and 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.
Investor and Media
Inquiries:
Blake Hylands+1
647.316.2500info@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 MRE, the
Technical Report and the Company’s future plans. 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.
Information and links in this press release
relating to other mineral resource companies are from their sources
believed to be reliable, but that have not been independently
verified by the Company.
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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