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Lithium Ionic Expands Drilling Activities in Brazil's Lithium Valley

Lithium Ionic Corp. has announced an expansion of its drilling operations at its numerous claim holdings, which include the Itinga and Salinas area properties situated in the Lithium Valley of Minas Gerais State, Brazil.

Lithium Ionic Expands Drilling Activities in Brazil
Lithium Ionic Properties in the Lithium Valley Showing Active Drilling Sites. Image Credit: Lithium Ionic Corp.

Regional Drilling at Itinga Area Properties

Four properties, located 2 to 10 km away from the company's flagship Bandeira Lithium Project, are currently undergoing a 4,000 m drilling program. A positive feasibility study for the project has been announced. The objective of this initial drilling program is to test soil anomalies related to lithium identified through systematic mapping and soil geochemistry exploration programs conducted in 2022 and 2023.

The current NI 43-101 compliant mineral deposits total 60.1 million tons, comprising 32.51 million tons grading 1.31 % Li2O (1,052 kt LCE) in the Measured & Indicated category, and 27.57 million tons grading 1.24 % Li2O (848 kt LCE) in the Inferred category. These deposits were successfully identified using the aforementioned exploration methods.

Currently, there are four drill rigs in operation, one on each of the four targeted properties: Apollo (previously Area 4), Gonçalves (previously Area 5), Phoenix (previously Area 3), and Afrodite (previously Area 2).

Expanded Drilling Program at Salinas Properties

At its Salinas Lithium Project ("Salinas"), which is situated in the lithium-rich Araçuaí Pegmatite District in the northern region of the Eastern Brazilian Pegmatite Province, the Company has also started an expanded 30,000 m drill program. The goal of this drill program is to improve and extend the current estimate of mineral resources by almost doubling the amount of drilling that has been done at Salinas to date. At the moment, there are two drill rigs working at the site.

Salinas is roughly 20 km east of the Salinas municipality, a town of about 40,000 people, and roughly 100 kilometers north of the Itinga group of properties.

An initial mineral resource estimate (MRE) of 5.86 million tons grading 1.09 % LiO (158,678 t LCE) in the Measured and Indicated category and 8.90 million tons grading 0.97 % LiO (214,572 t LCE) in the Inferred category was reported by the Company on April 4, 2024, for the Salinas project. This initial MRE was based on 27,030 m of drilling completed between May and November of 2023. As previously announced on April 4th, 2024, independent Brazilian consultancy GE21 Consultoria Mineral Ltda. ("GE21") is conducting a preliminary economic assessment ("PEA") for Salinas.

We have delineated over 60 Mt of spodumene-rich pegmatites since we began drilling just over two years ago, a testament to the strong capabilities of our team and the quality of the properties selected within the lithium district. The speed at which these deposits have been delineated showcases the Company’s capabilities to execute efficiently.

Blake Hylands, P.Geo., Chief Executive Officer, Lithium Ionic Corp.

Blake Hylands added, “Based on our success at Bandeira, we are highly encouraged by the potential of the regional targets we are currently testing. We are equally excited about the expanded drilling program at Salinas, which aims to significantly scale-up this project. With drilling initiated just over a year ago, Salinas has evolved and grown rapidly, reflecting its substantial future potential.”

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