Announcement Date: 2023-05-29
Announcement Type: Drilling Results
Announcement Code: NI43-101
Company name: Lithium Ionic Corp.
Project name: Itinga
Location: Brazil
Commodities: Lithium
Highlight: Drilling results incl. 45.93m at 1.45% Li2O from 28.07m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: May 29, 2023, Toronto, Ontario – Lithium Ionic Corp. (TSXV: LTH; OTCQB: LTHCF; FSE: H3N) (“Lithium Ionic” or the “Company”) reports additional assay results from the Galvani target as part of a near-complete 30,000 metre delineation drill program that is expected to culminate in an initial NI 43-101 compliant mineral resource estimate for the Bandeira and Galvani targets, expected in Q2 2023. The Company has to date completed 28,400 metres of drilling at the Bandeira and Galvani properties and is currently drilling the last few holes before the cut-off of data for inclusion in the mineral resource estimate. The Galvani claims are located approximately 5 kilometres northwest of its Bandeira property and Companhia Brasileira de Lítio’s (CBL) Cachoeira lithium mine, and approximately 4 kilometres West of Sigma Lithium’s large Xuxa lithium deposit (see Figure 1). Lithium Ionic is currently the second largest mineral rights holder in the region, controlling 14,182 hectares in this emerging hard rock lithium-producing district. The Galvani and Bandeira properties, which will be the subject of the initial mineral resource estimate, covers only 872 hectares of its large land package.
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