Lithium Ionic drills 1.98% Li2O over 26m at Galvani and 1.99% Li2O over 7m at Bandeira Showing, Brazil
Lithium Ionic Corp. (LTHCF) announced promising drilling results from its Galvani and Bandeira claims in Minas Gerais, Brazil. Highlights include:
- 1.98% Li2O over 25.63m (Galvani, hole ARDD-22-030)
- 1.99% Li2O over 6.75m (Bandeira, hole ITDD-22-011)
- 1.56% Li2O over 3.90m (Bandeira, hole ITDD-22-013)
The results support ongoing exploration, with plans for a mineral resource estimate in early 2023. CEO Blake Hylands expressed confidence in the drilling program's potential.
- Strong assay results indicating high grades of Li2O, suggesting substantial lithium mineralization potential.
- Exploration in close proximity to established lithium mines enhances the property's viability.
- Drilling results indicate a broad system of lithium-bearing pegmatites, providing optimism for resource expansion.
- None.
Insights
Analyzing...
TORONTO, Nov. 10, 2022 (GLOBE NEWSWIRE) -- Lithium Ionic Corp. (TSXV: LTH; OTCQB: LTHCF) (“Lithium Ionic” or the “Company”) reports assay results from drilling at its Galvani claims, as well as Bandeira (formerly Area 1) of its Itinga claims. The
Results Highlights
1.98% Li2O over 25.63m (Galvani, hole ARDD-22-030)1.99% Li2O over 6.75m (Bandeira, hole ITDD-22-011)1.56% Li2O over 3.90m and 1.66 Li2O over 2.76 (Bandeira, hole ITDD-22-013)1.44% Li2O over 8.33m (Bandeira, hole ITDD-22-012)
Blake Hylands, Chief Executive Officer of Lithium Ionic, commented, “The strong assays from Bandeira are providing confirmation of depth extensions near and below the excellent results from the surface work and trenching program. We continue to feel very confident in our ability to delineate a broad system and look forward to progressing with our drill program.”
Galvani Claims Area Update
The Galvani claims were acquired in September 2022, following a due diligence review including a drilling program initiated in June 2022. The results announced today of
The Galvani property is located less than 4 kilometres from Sigma Lithium’s Xuxa deposit (over 17Mt grading
Strong Results from Bandeira
The current drilling program targets near surface mineralization at Bandeira associated with several lithium soil anomalies over a 1.3 km trend with the aim of delineating an inaugural mineral resource estimate in early 2023. Bandeira is located 800 metres south of the operating CBL Lithium Mine and directly north of Sigma Lithium’s Barreiro project. The strong values announced today of
Today’s results follow-up on the excellent assays announced on May 31, 2022, including
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 production at CBL and published metallurgical work on adjacent properties.
Table 1. Galvani Drill Results
Hole ID | Az | Dip | From | To | Metres | Li2O (%) | Nb (ppm) | Sn (ppm) | Ta (ppm) |
ARDD-22-030 | 0 | -90 | 0 | 25.63 | 25.63 | 1.98 | 79 | 90 | 48 |
Table 2. Area 1 Drill Results
Hole ID | Az | Dip | From | To | Metres | Li2O (%) | Nb (ppm) | Sn (ppm) | Ta (ppm) |
ITDD-22-011 | 150 | -65 | 53.14 | 59.89 | 6.75 | 1.99 | 222 | 185 | 75 |
ITDD-22-012 | 150 | -65 | 33.70 | 42.03 | 8.33 | 1.44 | 177 | 248 | 102 |
ITDD-22-013 | 150 | -65 | 53.18 | 57.08 | 3.90 | 1.56 | 163 | 366 | 115 |
and | 62.90 | 65.66 | 2.76 | 1.66 | 91 | 169 | 67 | ||
ITDD-22-014 | 150 | -65 | 77.10 | 82.80 | 5.70 | 1.14 | 151 | 183 | 74 |
ITDD-22-015 | 150 | -65 | 6.16 | 8.74 | 2.58 | 1.04 | 173 | 189 | 108 |
ITDD-22-016 | 150 | -65 | 39.50 | 45.36 | 5.86 | 1.27 | 82 | 223 | 65 |
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 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
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 Officer
Email: 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 Itinga Project and the Galvani claims, the mineralization and development of the Itinga Project, Galvani claims 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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