The content of this release has been translated using machine translation software.
TORONTO, Jan. 24, 2023 (GLOBE NEWSWIRE) — A Lithium Ionic Corp. (TSXV: LTH; OTCQB: LTHCF; FRA: H3N) (“Lithium Ionic” or the “Company”) announces test results from an ongoing drilling program on its 100% Bandeira Property, located in the State of from Minas Gerais, Brazil. Bandeira is located about 500 meters south of Companhia Brasileira de Litio’s (CBL) Cachoeira mine, which has been producing lithium since 1993, and about 700 meters north of Sigma Lithium’s Barreiro lithium deposit, part of the larger hard rock lithium from the Americas (See Figure 1).
Flag Results Highlights
- 1.59% Li₂O over 9.62m, incl. 2.39 Li₂O over 5m (hole ITDD-22-039)
- 1.27% Li₂O over 10.09m, incl. 2.13% Li₂O above 5.06m (hole ITDD-22-023)
- 1.61% Li₂O in 4.72m and 2.43% Li₂O in 1.40m (hole ITDD-22-038)
- 1.95% Li₂O above 1.60m indoors 0.78% Li₂O above 8.90m (hole ITDD-22-032)
- 1.43% Li₂O on 1.28 and 1.28% Li₂O on 4.88m (hole ITDD-22-035)
- 1.43% Li₂O above 4.36m (hole ITDD-22-043)
- 1.34% Li₂O above 2m (hole ITDD-22-036)
- 1.42% Li₂O above 3.31m (hole ITDD-22-045)
Blake Hylands, CEO of Lithium Ionic, commented: “Bandeira’s results continue to impress us, with the latest interceptions returning some of the best quality and thickness found on this target to date. We have now identified a mineralized corridor of more than 1 km with at least six different bodies of spodumene pegmatites that remain open in all directions. We continue to drill Bandeira aggressively as we strive to provide our first mineral resource estimate in the coming months. »
To date, Lithium Ionic has completed over 11,000 meters (95 holes) of a planned 30,000 meter drill program focused primarily on its Bandeira and Galvani targets. Approximately 5,800 meters (51 holes) were drilled at Bandeira, while approximately 5,600 meters were drilled at Galvani (44 holes). The drill campaign at Bandeira is designed to target near-surface mineralization associated with several lithium ground anomalies spanning a trend of approximately 1.3 km, identified in early 2022.
To date, the company has identified at least six different lithium-bearing LCT pegmatites with a NE-SW bias. These ore bodies are 1 to 10 meters wide and can be followed over a length of one kilometer. The average depth of lithium zones drilled to date is approximately 150 meters, however, the Company has encountered high lithium grades and thicknesses of up to 300 meters below surface. The style of mineralization found so far, characterized by multiple clusters of stacked pegmatitic veins, is consistent with other nearby lithium deposits.
The strong values announced today have confirmed new zones of near-surface mineralization, such as hole ITDD-22-023 which intersected 1.27% Li₂O in 10.09 meters at 25m from surface (see Figure 2) and also confirmed high-grade extensions at depth. previous trenching and drilling results such as holes ITDD-22-032 and ITDD-22-039 intersecting at 1.59% Li₂O at 9.62m and 1.95% Li₂O at 1.60m (see Figure 3).
Drilling highlights previously announced by Flag include:
- 1.44% Li₂O above 8.33m (hole ITDD-22-012)
- 1.99% Li₂O above 6.75m (hole ITDD-22-011)
- 1.93% Li₂O above 5.66 m (hole ITDD-22-002)
- 1.49% Li₂O above 6.7m (hole ITDD-22-030)
- 2.22% Li₂O above 3.7m (hole ITDD-22-025)
- 1.97% Li₂O above 3.7m (hole ITDD-22-019)
- 1.55% Li₂O above 5.2m (hole ITDD-22-001)
- 1.56% Li₂O above 3.90 m and 1.66 Li₂O above 2.76 (hole ITDD-22-013)
- 1.22% Li₂O over 9.2m, incl. 1.71% Li₂O above 5.7 m; and 2.46% Li₂O above 2m (hole ITDD-22-024)
The company recently mobilized a sixth drilling rig and continues to explore aggressively, with four rigs at Bandeira and two at Galvani, as it strives to complete an initial NI 43 mineral resource estimate. -101 in the coming months.
Figure 1: Flag drill highlights, section locations and nearby lithium deposits
Figure 2: LT500 section facing northeast
Figure 3: LT700 section oriented northeast
Figure 4: Section LT800 facing northeast
Figure 5: Lithium ion claims totaling ~3,600 ha superimposed on the geological map
Table 1. Flag drilling results
| Hole ID | Az | dip | In | For | meters | read₂THE (%) |
| ITDD-22-023 | 150 | -65 | 33.5 | 43.59 | 10.09 | 1.27 |
| included | 38.53 | 43.59 | 5.06 | 2.13 | ||
| and | 114.34 | 115.9 | 1.56 | 1.01 | ||
| ITDD-22-032 | 150 | -65 | 6:35 p.m. | 19.95 | 1.60 | 1.95 |
| and | 130.30 | 139.20 | 8.90 | 0.78 | ||
| ITDD-22-033A | 150 | -65 | 6.05 | 8.05 | 2.00 | 0.50 |
| ITDD-22-034 | 330 | -65 | 5:42 p.m. | 21.10 | 3.68 | 0.52 |
| included . | 5:42 p.m. | 6:42 p.m. | 1.00 | 1.17 | ||
| ITDD-22-035 | 150 | -65 | 103.27 | 105.17 | 1.90 | 1.04 |
| and | 111.93 | 113.21 | 1.28 | 1.43 | ||
| and | 171.62 | 176.50 | 4.88 | 1.28 | ||
| and | 178.50 | 181.02 | 2.52 | 0.54 | ||
| ITDD-22-036 | 330 | -65 | 39.10 | 45.10 | 6.00 | 0.90 |
| included | 42.10 | 44.10 | 2.00 | 1.34 | ||
| ITDD-22-038 | 150 | -65 | 43.26 | 44.66 | 1.40 | 2.43 |
| and | 67.32 | 71.32 | 4.00 | 1.04 | ||
| included | 67.32 | 69.32 | 2.00 | 1.28 | ||
| and | 98.13 | 102.85 | 4.72 | 1.61 | ||
| ITDD-22-039 | 150 | -65 | 86.24 | 95.86 | 9.62 | 1.59 |
| included | 86.24 | 91.24 | 5.00 | 2.39 | ||
| ITDD-22-040 | 330 | -65 | 55.90 | 56.90 | 1.00 | 1.36 |
| ITDD-22-041 | 150 | -65 | 37.16 | 37.97 | 0.81 | 0.60 |
| ITDD-22-043 | 330 | -65 | 05.38 | 42.41 | 4.36 | 1.43 |
| ITDD-22-044 | 150 | -65 | VNS | |||
| ITDD-22-045 | 330 | -65 | 41.57 | 44.88 | 3.31 | 1.42 |
About Lithium Ionic Corp.
Lithium Ionic is a Canadian-based lithium mining company with properties covering approximately 3,600 hectares located in the prolific lithium province of Aracuai, in the state of Minas Gerais, Brazil, which has excellent infrastructure, including highways, access to the hydroelectric network, water and nearby commercial ports. Its Itinga and Galvani claims are located in the same district as the lithium-producing CBL mine and the large Barreiro and Xuxa lithium deposits of Sigma Lithium Corp.
Quality assurance and control
During the drill program, test samples were taken from the NQ core and sawn in half. Half was sent for analysis to the SGS laboratory, a certified independent commercial laboratory, and the other half was kept for results, cross-checking and future reference. A rigorous QA/QC program was applied to all samples. Each sample was treated with Drying, Grinding 75% to 3mm, Homogenizing, Jones Quarter, Pulverizing 250-300g of sample in 95% to 150 mill. SGS lab performed multi-element analysis for l ICP90A analysis.
Qualified people
The technical information contained in this press release was prepared by Carlos Costa, Vice President, Lithium Ionic Exploration and Blake Hylands, CEO and Director of Lithium Ionic, and both are “Qualified Persons” as defined in Regulation 43 -101.
For more information please contact:
Lithium Ionic Corp.
Blake Hylands, geo.
CEO
The email: bhylands@lithiumionic.com
Caution Regarding Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements”. These forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results, performance or achievements or developments of the Company to be materially different from any anticipated results, performance or achievements expressed or implied. in these forward-looking statements. statements. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors which have been deemed appropriate, that the expectations reflected in such forward-looking information are reasonable, it undue reliance should not be placed on why the Company cannot guarantee their accuracy. When used in this press release, the words “estimate”, “project”, “believe”, “anticipate”, “intend”, “expect”, “plan”, “anticipate These words or variations thereof or comparable terminology are intended to identify forward-looking statements and information. Forward-looking statements and information in this press release include information relating to exploration of the Company’s mineral properties, the Company’s ability to produce a mineral resource estimate in accordance with NI 43-101, mineralization and the development of the Company’s mining properties. , the exploration program and other mining projects and their prospects. These statements and information reflect the Company’s current view. Risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause our actual results, performance or achievements, or other future events, to differ materially from the results, performance or future achievements expressed or implied by such forward-looking statements. The forward-looking information contained in this press release represents the Company’s expectations as of the date of this press release and, accordingly, is subject to change after such date. Readers should not give undue importance to forward-looking information and should not rely on such information as of any other date. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change.
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
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