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Lithium Ionic drills 1.94% Li2O over 15.0m, 1.91% Li2O over 9.8m and 1.68% Li2O over 9.1m at Bandeira, Minas Gerais, Brazil
TORONTO, Sept. 27, 2023 (GLOBE NEWSWIRE) -- Lithium Ionic Corp. (TSXV: LTH; OTCQB: LTHCF; FSE: H3N) (“Lithium Ionic” or the “Company”) reports drill results fro
About this update from Lithium Ionic Corp
[{"type":"text","content":" TORONTO, Sept. 27, 2023 (GLOBE NEWSWIRE) -- Lithium Ionic Corp. (TSXV: LTH; OTCQB: LTHCF; FSE: H3N) (“Lithium Ionic” or the “Company”) reports drill results from Bandeira, one of the four targets presently being drilled within the Company’s 14,182-hectare land package in northern Minas Gerais State, Brazil. This region, recently coined “Lithium Valley” by state officials and geologically located within the Eastern Brazil Pegmatite Province, is emerging as a prolific hard rock lithium-producing region. These results form part of a large 50,000-metre drill program underway for H2 2023, with 13 drills currently operating. Bandeira Drill Intercept Highlights (See Figure 1): 1.94% Li2O over 15.0m (hole ITDD-23-158; see Figure 2) 1.91% Li2O over 9.8m (hole ITDD-23-151; see Figure 2) 1.68% Li2O over 9.1m (hole ITDD-23-148) 1.45% Li2O over 8.6m (hole ITDD-23-150) 1.67% Li2O over 6.2m, incl. 2.21% Li2O over 4.0m (hole ITDD-23-156) 1.75% Li2O over 5.3m (hole ITDD-23-149) Blake Hylands, P.Geo., Chief Executive Officer of Lithium Ionic, commented, “Our infill and expansion drilling program at Bandeira continues to yield positive results. We are particularly impressed with the high-grade results from holes ITDD-23-158 and ITDD-23-151 of 1.94% Li2O over 15.0m and 1.91% Li2O over 9.8m which confirmed a 250m down-dip extension of a large and widening pegmatite that extends over 800 metres from surface, reaching a depth of 450 metres.” The Bandeira lithium deposit is located in the same district where Companhia Brasileira de Litio (CBL)’s Cachoeira mine has been producing lithium for +30 years, and recent producer Sigma Lithium operates the Grota do Cirillo project, which hosts the largest hard rock lithium deposit in the Americas (See Figure 1). In late June 2023, Lithium Ionic published an initial NI 43-101 compliant mineral resource estimate (“MRE”) at the Bandeira and Outro Lado deposits 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 (see press release dated June 27, 2023). Drilling at Bandeira is focused on upgrading the mineral resource classifications in support of economic and engineering studies, as well as testing mineralized extensions to expand the resources. The Company is rapidly advancing the Bandeira deposit towards a p...