The content of this release has been translated using machine translation software.
TORONTO, April 11, 2023 (GLOBE NEWSWIRE) — The Lithium Ionic Corp. (TSXV: LTH; OTCQB: LTHCF; FSE: H3N) (“Lithium Ionic” or the “Company”) has released test results for its Galvani claims from an ongoing 30,000 meter drill program, which is expected to result in an initial mineral resource estimate, expected in the second quarter of 2023. The Company has so far completed 23,000 meters of drilling on the Bandeira and Galvani properties, which together cover only 872 of the 14,182 hectares it she controls in this lithium-producing district.
Galvani’s claims, acquired at the end of 2022 (see press release of September 12, 2022), are located approximately 5 kilometers northwest of its Bandeira property and the Cachoeira lithium mine of Companhia Brasileira de Litio (CBL) and about 4 kilometers west of the large Xuxa lithium deposit. (see Figure 1).
Highlights of the Galvani Drill Interception (see full results in Table 1)
- 1.87% Li2O over 45m, incl. 2.27% Li2O in 4m, 2.87% Li2O in 7m,
2.14% Li2O over 10m (hole ARDD-23-48) intersected approximately 30 to 75 meters downhole and only 20 meters from the surface represents the best hole made to date at Galvani (see figures 2 and 3) - 2.10% Li2O over 19.4m, incl. 3.15% Li2O over 6m (hole ARDD-23-51)
- 1.48% Li2O above 16.7 m (hole ARDD-23-050)
- 1.23% Li2O over 17m (hole ARDD-23-045)
Blake Hylands, P.Geo., CEO of Lithium Ionic, said, “The Galvani target and our resulting properties have tremendous exploration potential and remain an important target for our future campaigns. As we work to complete the infill and definition drilling program at Galvani, the latest results reaffirm the continuity and scale of large mineralized pegmatites at this target. With the results from the Galvani and Bandeira properties, we are very optimistic that we will deliver a significant, high-grade mineral resource estimate in the near term, as a first step towards mapping much larger resources for significant future growth.
The intersections reported in Table 1 are part of an infill drilling program to reach 50 meter hole spacing at Galvani, where high grade mineralization has been demonstrated to continue over a strike length of 850 metres. The results announced today have confirmed the continuity of mineralization throughout the strike and this improved drilling density is expected to achieve a higher level of confidence in the mineral resource classification for the expected mineral resource estimate. in Q2 2023.
Highlights of Galvani’s Previously Reported Drill Interception
- 1.53% Li2O over 46.21m, incl. 2.22% Li2O above 12.49m
and 1.14% Li2O over 12.88m, incl. 1.66% Li2O above 5.43m (hole ARDD-22-021) - 1.98% Li2O above 25m (hole ARDD-22-030)
- 1.30% Li2O above 38.5m (hole ARDD-22-014)
- 1.17% Li2O over 42.05m, incl. 1.95% Li2O above 11.72m (hole ARDD-22-002)
- 1.57% Li2O over 24.93m, incl. 2.10% Li2O above 7.45m (Hole ARDD-22-001)
- 1.94% Li2O over 19.78m, incl. 2.33% Li2O above 7.35m (hole ARDD-22-007)
- 1.71% Li2O above 21.9 m (hole ARDD-22-025)
The Company has completed approximately 23,000 meters (161 holes) of a budgeted 30,000 meter drill program, with seven drill rigs operating on the Bandeira and Galvani targets. Approximately 15,000 meters (94 holes) have been drilled at Bandeira and approximately 8,000 meters (67 holes) have been drilled at Galvani. The remaining approximately 7,000 meters of the initial resource delineation drilling program is expected to be completed by the end of April 2023.
The Company recently mobilized a 8th drill rig at the Itira property, located less than a kilometer west of Galvani, to begin exploratory drilling on this target.
Figure 1: Galvani and Bandeira properties, part of the Itinga project
Figure 2: Plan map of the Galvani pegmatite with drillhole highlights and section locations
Figure 3: Section LT250 oriented northwest; Holes ARDD-23-048
Table 1. Galvani drill results
| Hole ID | Az | Dip | In | For | meters | Li2O (%) |
| ARDD-23-45 | 210 | -60 | 10.22 | 11.23 | 1.01 | 1.29 |
| It is | 22.85 | 39.85 | 17:00 | 1.23 | ||
| ARDD-23-46 | 210 | -45 | 74.67 | 88.25 | 13.58 | 1.10 |
| included | 78.67 | 88.25 | 9.58 | 1.31 | ||
| ARDD-23-47 | 210 | -60 | 20.22 | 32.22 | 12:00 | 1.23 |
| ARDD-23-48 | 210 | -60 | 29.83 | 74.83 | 45.00 | 1.87 |
| included | 29.83 | 33.83 | 4.00 | 2.27 | ||
| included | 44.83 | 51.83 | 7.00 | 2.87 | ||
| included | 60.83 | 70.83 | 10.00 | 2.14 | ||
| ARDD-23-49 | 210 | -45 | 86.16 | 98.16 | 12:00 | 1.44 |
| included | 92.16 | 97.16 | 5.00 | 2.27 | ||
| ARDD-23-50 | 210 | -45 | 49.62 | 54.96 | 5.34 | 1.32 |
| It is | 65.45 | 82.17 | 16.72 | 1.48 | ||
| included | 75.45 | 82.17 | 6.72 | 1.61 | ||
| ARDD-23-51 | 210 | -45 | 59.25 | 67.15 | 7.90 | 1.80 |
| It is | 73.15 | 92.55 | 7:40 p.m. | 2.10 | ||
| included | 83.55 | 89.55 | 6.00 | 3.15 |
About Lithium Ionic Corp.
Lithium Ionic is a Canada-based lithium miner with properties covering 14,182 hectares located in the prolific province of Araçuaí, in the state of Minas Gerais, Brazil, which has excellent infrastructure, including highways, the access to the hydroelectric network, water and commercial ports nearby. Its Itinga project neighbors the Cachoeira lithium mine, owned by CBL, and the Grota do Cirilo project, under construction, by 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.
Investor and Media Inquiries:
+1 647.316.2500
info@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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