Announcement Date: 2022-05-31
Announcement Type: Drilling Results
Announcement Code: NI43-101
Company name: Lithium Ionic Corp.
Project name: Itinga
Location: Brazil
Commodities: Lithium
Highlight: Drilling results incl. 5.66m @ 1.93% Li2O from 33.08m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: TORONTO, ON, May 31, 2022 – Lithium Ionic Corp. (TSXV: LTH) (“Lithium Ionic” or the “Company”) is pleased to announce assay results for the first two (2) drillholesfrom the ongoing drill program at its 100% owned Itinga Lithium Project in Minas Gerais, Brazil. The first phase of drilling is targeted at near surface mineralization associated with a 1.3 km lithium soil anomaly located directly south of the producing CBL Lithium mine and north of Sigma Lithium’s Barreiro deposit (20.4Mt grading 1.4% Li2O) (Figure 1). The first 2 holes were designed to test the depth extension and continuity of high-grade results at Itinga Project Area 1 where trenching exposed 8.8m grading 1.46% Li2O incl. 5.8m grading 1.82% Li2O (see press release dated May 24th, 2022). Results from this drilling have successfully proven the down-dip extension of the mineralized domain below 35 metres from surface and remain open at depth and along strike. Drilling is underway to continue to delineate extents of the drilling released today, as well as test additional significant soil anomalies recognized by the Company earlier this year (Figures 2 & 3). The Company will also be continuing exploration and drilling on its other land holdings in the area this year as it will aim to show considerable growth in the coming months.
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