Announcement Date: 2022-07-26
Announcement Type: Drilling Results
Announcement Code: NI43-101
Company name: Lithium Ionic Corp.
Project name: Itinga
Location: Brazil
Commodities: Lithium
Highlight: Drilling results incl. 24.93m @ 1.57% Li2O from 4.7m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: TORONTO, ON, July 26, 2022 – Lithium Ionic Corp. (TSXV: LTH) (“Lithium Ionic” or the “Company”) reports excellent initial drilling results from the Galvani claims, on which it is currently conducting a due diligence review following the recently announced binding asset purchase agreement (see press release dated June 14 and June 28, 2022). The Company also reports new drill results from Area 1 of its Itinga Project. The Galvani claims, as well as its neighbouring 100%- owned Itinga Lithium Project (Areas 1-5) are located in the state of Minas Gerais, Brazil, in the same district as the lithium producing CBL mine and Sigma Lithium’s Barreiro deposit (20.4Mt grading 1.4% Li2O) (see Figure 1, location map). The Company is currently undertaking a 900 metre (7 hole) drill program as well as an extensive trenching program on and in proximity to a ~0.7km strike pegmatite on the Galvani claims, as part of its 90-day due diligence review following the purchase agreement announced on June 14, 2022 (see Figures 2 and 3). The exploration program was designed to confirm historic drilling and determine the structural controls of the mineralized pegmatites, including its orientation with up and down dip testing.
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