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Lithium Ionic intersects 1.45% Li2O over 45.9m at the Galvani target, Minas Gerais, Brazil
TORONTO, May 29, 2023 (GLOBE NEWSWIRE) -- Lithium Ionic Corp. (TSXV: LTH; OTCQB: LTHCF; FSE: H3N) (“Lithium Ionic” or the “Company”) reports additional assay re
About this update from Lithium Ionic Corp
[{"type":"text","content":" TORONTO, May 29, 2023 (GLOBE NEWSWIRE) -- Lithium Ionic Corp. (TSXV: LTH; OTCQB: LTHCF; FSE: H3N) (“Lithium Ionic” or the “Company”) reports additional assay results from the Galvani target as part of a near-complete 30,000 metre delineation drill program that is expected to culminate in an initial NI 43-101 compliant mineral resource estimate for the Bandeira and Galvani targets, expected in Q2 2023. The Company has to date completed 28,400 metres of drilling at the Bandeira and Galvani properties and is currently drilling the last few holes before the cut-off of data for inclusion in the mineral resource estimate. The Galvani claims are located approximately 5 kilometres northwest of its Bandeira property and Companhia Brasileira de Lítio’s (CBL) Cachoeira lithium mine, and approximately 4 kilometres West of Sigma Lithium’s large Xuxa lithium deposit (see Figure 1). Lithium Ionic is currently the second largest mineral rights holder in the region, controlling 14,182 hectares in this emerging hard rock lithium-producing district. The Galvani and Bandeira properties, which will be the subject of the initial mineral resource estimate, covers only 872 hectares of its large land package. Galvani Drill Intercept Highlights (See complete results in Table 1) 1.45% Li2O over 45.9m intersected at surface, 28 to 74 metres down-hole, represents one of the best holes drilled at Galvani (hole ARDD-23-56) Confirms 50 metre down-dip extension from previously reported hole ARDD-23-45, which intersected 1.23% Li2O over 17m Interpreted to form part of a large pegmatite dyke, which was also intersected in hole ARDD-23-048 with 1.87% Li2O over 45m, 100 metres away, and only 20m from surface Blake Hylands, P.Geo., CEO of Lithium Ionic, commented, “These latest results further confirm the scale and continuity of the large spodumene-bearing pegmatite dykes at this target. The results from the initial drilling program at Galvani and Bandeira have been tremendously successful, and our team is confident that the upcoming mineral resource estimate will deliver scale and high-grade, that will form the basis for significant future growth.” The Company has engaged SGS Canada (“SGS”), internationally recognized for the estimation and modelling of mineral deposits, to complete the initial NI 43-101 mineral resource estimate. SGS has direct experience with li...