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Lithium Ionic Corp. (LTHCF) announced assay results from its Bandeira property, part of a 30,000 metre drill program at the Itinga Project in Minas Gerais, Brazil. Over 20,000 metres have been drilled, revealing multiple higher-grade lithium intercepts with thicknesses extending over 400 metres down dip. Notable results include 1.43% Li2O over 17.1m and 1.73% Li2O over 13.6m in newly identified pegmatite zones. The company aims for an initial resource estimate within Q2 2023, supported by an aggressive drilling campaign targeting extensive lithium mineralization. Lithium Ionic holds substantial mineral rights within a critical lithium-producing area.
Lithium Ionic Corp. (TSXV: LTH; OTCQB: LTHCF) has acquired 100% of Neolit Minerals Participações Ltda., which possesses a 40% stake in the Salinas Project in Brazil. This project covers nine lithium exploration tenements totaling 5,713 hectares, with excellent drilling results reported, including intercepts of 1.71% Li2O over 9.82m. The acquisition expands Lithium Ionic's presence in the lithium-rich Araçuaí Pegmatite District and positions it adjacent to established lithium resources. The transaction involves a cash payment of approximately USD 2.03 million and share issuance, with an expected 20,000m drill program to commence soon.
Lithium Ionic Corp. has announced the acquisition of a strategic mining claim in Brazil's Minas Gerais state. The Clesio Claim, spanning 1,000 hectares, will expand the company's land holdings to approximately 7,700 hectares. This acquisition aligns with Lithium Ionic's goal to consolidate lithium targets in a region known for high-grade hard-rock lithium deposits. The company paid R$500,000 (around C$130,000) for the claim, with potential performance bonuses amounting to USD$2 million if certain mineral resource estimates are achieved within specified timeframes. The transaction qualifies as an exempt transaction under TSXV policies.
Lithium Ionic Corp. (TSXV: LTH; OTCQB: LTHCF) has entered a binding share purchase agreement with Exotic Mineração Ltda. to acquire a potential 100% equity interest in Vale Do Lítio Mineração Ltda. Vale Litio owns three lithium mining claims in Minas Gerais, Brazil, spanning 3,140 hectares. An initial 2.78% equity stake was acquired for R$900,000 (approx. C$235,000). Further payments will allow Lithium Ionic to increase its ownership up to 100% by July 2024. If a mineral resource estimate of six million tons with 1.30% Li2O content is established, a cash bonus of R$10 million (approx. C$2.63 million) is payable. This agreement aligns with Lithium Ionic's strategy to consolidate lithium targets.
Lithium Ionic Corp. (TSXV: LTH; OTCQB: LTHCF) reports promising assay results from its ongoing drilling program at the 100%-owned Bandeira property in Minas Gerais, Brazil. Highlights include intercepts like 1.59% Li₂O over 9.62 meters and 1.27% Li₂O over 10.09 meters, confirming strong mineralization over a 1-km trend with at least six spodumene-bearing pegmatite bodies. To date, over 11,000 meters of drilling have been completed, with a focus on near-surface lithium zones. The company aims to deliver its maiden mineral resource estimate soon. CEO Blake Hylands expressed confidence in the high-grade results and ongoing exploration efforts.
Lithium Ionic Corp. (LTHCF) provided an overview of its achievements in 2022 and goals for 2023. Trading since May 2022, the company focuses on lithium exploration at its Itinga Project in Brazil. With approximately $30 million in treasury, Lithium Ionic reported strong drilling results with grades such as 1.98% Li2O over 25.63m. It significantly expanded its land holdings and aims to complete a maiden NI 43-101 compliant resource estimate in early 2023. The company also plans to continue exploration activities and strategic acquisitions throughout the year.
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.