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Lithium Ionic drills 2.11% Li2O over 9.9m, 1.73% Li2O over 10.4m and 1.68% Li2O over 10.0m at Bandeira, Minas Gerais, Brazil
TORONTO, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Lithium Ionic Corp. (TSXV: LTH; OTCQX: LTHCF; FSE: H3N) (“Lithium Ionic” or the “Company”) reports drill results from
About this update from Lithium Ionic Corp
[{"type":"text","content":" TORONTO, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Lithium Ionic Corp. (TSXV: LTH; OTCQX: LTHCF; FSE: H3N) (“Lithium Ionic” or the “Company”) reports drill results from the Bandeira Project (“Bandeira”), in northern Minas Gerais State, Brazil. Bandeira is a 175-hectare property within its large 14,182-hectare land package, located in a region recently coined “Lithium Valley” by state officials, which is emerging as a globally significant hard rock lithium-producing district. These results form part of a large 50,000-metre drill program underway for H2 2023, which is designed to expand and upgrade existing mineral resource estimates and grow mineralization at other prospective regional targets. Bandeira Drill Intercept Highlights (See Figure 1): 2.11% Li2O over 9.9m, 1.57% Li2O over 8.5m and 1.62% Li2O over 6.6m(hole ITDD-23-163) 1.73% Li2O over 10.4m and 1.40% Li2O over 8.9m (hole ITDD-23-164) 1.68% Li2O over 10.0m and 1.86% Li2O over 5.7m (hole ITDD-23-167) 1.88% Li2O over 8.0m (hole ITDD-23-165) 2.57% Li2O over 3.0m (hole ITDD-23-161) 1.57% Li2O over 4.9m, 1.82% Li2O over 3.7m and 1.71% Li2O over 3.6m(hole ITDD-23-154) 1.53% Li2O over 5.0m (hole ITDD-23-157) Blake Hylands, P.Geo., Chief Executive Officer of Lithium Ionic, commented, \"Today's drill results underscore the continued growth potential of Bandeira – a property which represents only approximately 1% of our total land package in this prolific lithium belt. The new mineral resource estimate we reported earlier this month for Bandeira reflects a snapshot in time, based on data up to August 2023. Since then, we have conducted substantial drilling, including the strong results announced today, which we expect will continue to improve the scale and quality of this deposit, and will act as the cornerstone of our forthcoming Feasibility Study.\" On October 19, 2023, the Company reported a new mineral resource estimate (“MRE”) for Bandeira of 13.72Mt grading 1.40% Li2O (474,892t LCE) in the Measured and Indicated category, in addition to an Inferred resource estimate of 15.79Mt grading 1.34% Li2O (523,118t LCE). This MRE was based on 204 drill holes with a data cut-off of August 30, 2023. An additional 34 holes, including those announced today, have been drilled since then and will be included in an updated mineral resource estimate along with an independent NI 43-101 compliant Fea...