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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
TORONTO, Dec. 21, 2022 (GLOBE NEWSWIRE) -- Lithium Ionic Corp. (TSXV: LTH; OTCQB: LTHCF) (“Lithium Ionic” or the “Company”) reports assay results from an ongoin
About this update from Lithium Ionic Corp
[{"type":"text","content":" TORONTO, Dec. 21, 2022 (GLOBE NEWSWIRE) -- 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 ov...