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ION Energy Resumes Water Well Drilling at Urgakh Naran
Toronto, Ontario--(Newsfile Corp. - March 2, 2023) - ION Energy Limited (TSXV: ION) (OTCQB: IONGF...
About this update from Osiris One Metals Ltd.
[{"type":"text","content":"ION Energy Resumes Water Well Drilling at Urgakh NaranToronto, Ontario--(Newsfile Corp. - March 2, 2023) - ION Energy Limited (TSXV: ION) (OTCQB: IONGF) (FSE: 5YB) (\"ION\" or the \"Company\"), Mongolia's first lithium brine explorer and developer, is very pleased to share that water well drilling has resumed at the 100%-owned Urgakh Naran project, to complete the UNWH-03 program.Highlights:Three water wells on site drilled to a total of 682mUNWH-01 drilled to 300mUNWH-02 drilled to 300mUNWH-03 currently at 82mPreviously stated results on the drilling of three lithological diamond core drill holes for a total depth of 954m: notable two metre drill core results Include:UNDH-01: 123m at 278ppm lithium from 122m, with maximum lithium reported at 832ppm over 2m;UNDH-02: 100m at 362ppm lithium from 65m, with maximum lithium at 601ppm over 2m; andUNDH-03: 71.4m at 360ppm lithium from 3.6m with maximum lithium at 911ppm over 2m.\"Having previously reported strong results from the lithological holes, the Company is now pleased to share that we are completing our third water well at the highly encouraging Urgakh Naran project,\" said Ali Haji, CEO & Director of ION Energy. \"Until recently, ION's team had anticipated not being able to return to the site and resume this phase of our drilling program until much warmer weather, later in March. We're excited to already be in possession of the equipment necessary for bailer sampling, pump testing and hydrogeological testing, to advance the inferred resource calculations at Urgakh Naran. Work on sampling will commence in the coming weeks.\"Figure 1: Drill location map at the Urgakh Naran Lithium Project, Mongolia.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/6906/156930_ef7e6a791408d9cc_002full.jpgFigure 2: Setting up at UNWH-03To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/6906/156930_ef7e6a791408d9cc_003full.jpgThe Company also announces that it has completed a non-brokered private placement for aggregate gross proceeds of $40,000 (the \"Offering\"). The Offering consisted of the sale of 100,000 common shares (the \"Shares\") at a price of $0.40 per Share.The proceeds from the issuance of the Shares will be used primarily for exploration activities at the Company's properties, as well ...