Announcement Date: 2022-09-26
Announcement Type: Drilling Results
Announcement Code: NI43-101
Company name: Lithium Ionic Corp.
Project name: Itinga
Location: Brazil
Commodities: Lithium
Highlight: Drilling results incl. 46.21m at 1.53% Li2O from 35.5m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: TORONTO, ON, September 26, 2022 – Lithium Ionic Corp. (TSXV: LTH; OTCQB: LTHCF) (“Lithium Ionic” or the “Company”) reports additional positive drilling results from the Galvani claims, which the Company recently acquired (see Sept. 12, 2022, press release) following a due diligence review. 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). Subsequent to the completed acquisition of the Galvani claims announced on September 12, 2022, the Company has expanded upon the drill program it initiated in June 2022 with five drills currently operating on its properties. As part of its due diligence review, Lithium Ionic successfully confirmed historic drilling results and also identified new zones of mineralization beyond the ~0.7km strike pegmatite with strong lithium values over significant widths. The Galvani property is located less than 4 kilometres from Sigma Lithium’s Xuxa deposit (over 17Mt grading 1.55% Li2O M+I).
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