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Lithium Ionic drills 1.98% Li2O over 26m at Galvani and 1.99% Li2O over 7m at Bandeira Showing, Brazil
TORONTO, Nov. 10, 2022 (GLOBE NEWSWIRE) -- Lithium Ionic Corp. (TSXV: LTH; OTCQB: LTHCF) (“Lithium Ionic” or the “Company”) reports assay results from drilling
About this update from Lithium Ionic Corp
[{"type":"text","content":" 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 100%-owned properties are located in the state of Minas Gerais, Brazil, neighbouring the lithium-producing CBL mine and Sigma Lithium’s Grota do Cirilo property, the largest lithium hardrock deposit in the Americas (see Figure 1, location map). 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 1.98% Li2O over 25.63 metres are the strongest grades in this area encountered since the Company began drilling earlier this year and further reinforce the potential of the area (See Figure 2). Other previously announced assay highlights from Galvani include 1.68% Li2O over 20.7m, 1.77% Li2O over 10.85m, 1.94% Li2O over 19.78m and 1.30% Li2O over 38.5m and have shown a continuous zone of spodumene-bearing pegmatite over ~800m along a northwest-southeast trend down to approximately 100m elevation below surface. While the company works on better understanding the geology at the Galvani claims and assesses the entire area with soil geochemistry and trenching, the focus of drilling has moved to the Bandeira area. The Galvani property is located less than 4 kilometres from Sigma Lithium’s Xuxa deposit (over 17Mt grading 1.55% Li2O M+I). The high grade and large widths of the intercepts to date demonstrate excellent potential to outline a significant resource very quickly. Mineralization is hosted in spodumene bearing pegmatites sourced from the same granitic...