Announcement Date: 2023-06-06
Announcement Type: Drilling Results
Announcement Code: NI43-101
Company name: Lithium Ionic Corp.
Project name: Itinga
Location: Brazil
Commodities: Lithium
Highlight: Drilling results incl. 14m at 1.31% Li2O from 56.9m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: TORONTO, ON, June 6, 2023 – Lithium Ionic Corp. (TSXV: LTH; OTCQB: LTHCF; FSE: H3N) (“Lithium Ionic” or the “Company”) reports assay results from its 100%-owned Bandeira property, located within the lithium-rich Araçuaí district in the state of Minas Gerais, Brazil. The results are part of the initial 30,000-metre delineation drill program that will culminate in an initial NI 43-101 compliant mineral resource estimate (“MRE”) expected by the end of Q2 2023. The MRE will include data from the last year of drilling at the Bandeira and Galvani targets, and drilling continues to further expand the resources for future resource estimates. Bandeira is located approximately 500 metres south of Companhia Brasileira de Lítio’s (CBL) Cachoeira lithium mine, and approximately 700 metres north of Sigma Lithium Corp.’s large Barreiro lithium deposit. (See Figure 1). The Company is currently the second largest mineral rights holder in the region, controlling 14,182 hectares in this emerging hard rock lithiumproducing district
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