Lithium Ionic Announces Commencement of Drilling and Exploration at Galvani Acquisition, Itinga Project, Brazil
LITHIUM IONIC ANNOUNCES COMMENCEMENT OF DRILLING AND EXPLORATION AT GALVANI
ACQUISITION, ITINGA PROJECT, BRAZIL
TORONTO, ON, June 28, 2022 – Lithium Ionic Corp. (TSXV: LTH) (“Lithium Ionic” or the “Company”) is
pleased to announce the commencement of drilling at the Galvani option licenses (“the Property”) (see
press release dated June 14th, 2022) within the Itinga Lithium Project in Minas Gerais, Brazil. Initial drilling
is designed to confirm high grade historic drill results and expand known mineralization. (Figure 1).
Galvani Properties
The Galvani licenses feature significant historic drill results including 20.25m grading 1.62% Li2O and 12m
grading 1.78% Li2O over a roughly a one-kilometre trend. The Property is located directly adjacent to the
west of the Sigma Lithium claim boundary and less than 4km from Sigma Lithium’s Xuxa deposit (over
17Mt grading 1.55% Li2O M+I). The high grade and widths of the intercepts to date demonstrate excellent
potential to outline a significant resource very quickly. Mineralization is hosted in spodumene bearing
pegmatites sourced from the same granitic intrusive, which characterizes Lithium Ionic’s Project Area 1,
CBL’s lithium mining operation, and Sigma Lithium’s resources. (Figure 2)
Drill Program
The Company is planning an initial diamond drilling campaign of 7 holes totaling 900 metres to confirm
the historic drilling done and to test up and down dip to confirm the orientation of the mineralized
pegmatites. Additional drilling and mapping will be planned following the completion of confirmatory
drilling. Lithium Ionic ’s program is designed to determine the structural controls of the mineralized
pegmatites as limited work has been completed previously. At this point mineralization is open in all
directions which represents significant opportunity to expand the deposit (Fig 3 & 4).
Figure 1: Location map showing the Galvani properties in relation to the Company’s claim holdings and
the significant pegmatites of Sigma Lithium Resources and CBL.
Blake Hylands, Chief Executive Officer of Lithium Ionic, comments, “The Galvani property acquisition was
a result of our belief that we are in one of the most significant hard- rock lithium belts on the globe. Our
program is designed to verify the historic drill results and expand the mineralized showings. The Property,
in combination with our other exceptional exploration ground, will allow us to delineate resources very
quickly in a proven jurisdiction.”
Figure 2: The Outro Lado pegmatite showing where high grade intercepts have been discovered. Note
property location in relation to Sigma Lithium Resources claim boundary and Xuxa deposit (over 17Mt
@ 1.55% Li2O).
Figure 3: Historic drilling and sectio n. Hole OL DD-001 intersected 18m @ 1. 58% Li2O. Note planned
drilling represented by DHLI holes designed to test up and down dip.
Figure 4: Location map of historic drilling and planned drilling. Note significant historical drill results.
Itinga Lithium Project Update
The drilling program currently underway is planned for over 30,000m of drilling and aims to outline a
significant resource on the Company’s ground, initially focused on Area 1, located 800 metres south of
the operating CBL Lithium Mine and directly north o f Sigma Lithium’s Barreiro deposit. Lithium -bearing
pegmatite / spodumene showings in this prolific mining jurisdiction are characterized by high grade and
high-quality battery-grade lithium as demonstrated by the production at CBL and published metallurgical
work on adjacent properties.
Galvani Properties Acquisition Update
Completion of the acquisition of the Galvani properties is subject to customary closing conditions
including, among others, approval of the TSX Venture Exchange and the Company being satisfied with the
results of its due diligence review. Please see the Company’s press release dated June 14, 2022 for further
details.
About Lithium Ionic Corp.
Lithium Ionic is a publicly -traded company which owns a 100% ownership interest in the Itinga lithium
project in Brazil (the “Itinga Project” or the “Project”).
The Itinga Project is located in Minas Gerais State (MG), Brazil. The Project comprises five mineral licenses
covering more than 1,300 hectares in the prolific Aracuai lithium province. A portion of the Project occurs
immediately south of the CBL lithium mine and plant, Brazil’s only lithium producer, and immediately
north of the large Barreiro and Xuxa lithium deposits of Sigma Lithium Corp (TSXV: SGML) (NASDAQ:
SGML).
The Projec t area has excellent infrastructure, including access to hydroelectrical grid power, water, a
commercial port, highways and communities. Lithium mineralization (spodumene, lepidolite, petalite)
occurs within a halo of pegmatite dikes and apophyses that occ ur within the rocks surrounding
Neoproterozoic granitic intrusions. Mineralization within the mineralized province and the distribution of
the mineralized pegmatites is controlled by a complex and crosscutting system of northeast and
northwest oriented faults that were exploited by the dikes. Mineralized structures have been identified
in two areas within the Project and the remainder of the Project area remains to be explored.
Qualified Persons
The technical information in this news release has been prepared by Carlos Costa, Vice President
Exploration of Lithium Ionic and David Gower, a director of Lithium Ionic, and both are “qualified persons”
as defined in NI 43-101.
For more information please contact:
Lithium Ionic Corp.
Blake Hylands, P.Geo.
Chief Executive Officer
Email: [email protected]
Cautionary Note Regarding Forward-Looking Statements
Information in this press release relating to CBL and Sigma Lithium has been compiled from publicly
available sources and has not been independently verified by Lithium Ionic.
This press release contains statements that constitute “forward- statements.” Such forward looking
statements involve known and unknown risks, uncertainties and other factors that may cause the
Company’s actual results, performance or achievements, or developments to differ materially from the
anticipated results, performance or achievements expressed or implied by such forward- looking
statements. Although the Company believes, in light of the experience of its officers and directors, current
conditions and expected future developments and other factors that have been considered appropriate
that the expectations reflected in this forward-looking information are reasonable, undue reliance should
not be placed on them because the Company can give no assurance that they will prove to be correct.
When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”,
“plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or
comparable terminology are intended to identify forward- looking statements and information. The
forward-looking statements and information in this press release include information relating to the
prospectivity of the Project, the mineralization and development of the Itinga Project, the Galvani
properties and other mining projects and prospects thereof , the Company’s ability to complete the
purchase of the Galvani properties, the Company’s exploration plans and the Company’s future plans. Such
statements and information reflect the current view of the Company. Risks and uncertainties that may
cause actual results to differ materially from those contemplated in those forward-looking statements and
information. By their nature, forward-looking statements involve known and unknown risks, uncertainties
and other factors which may cause our actual results, pe rformance or achievements, or other future
events, to be materially different from any future results, performance or achievements expressed or
implied by such forward- looking statements. The forward -looking information contained in this news
release represents the expectations of the Company as of the date of this news release and, accordingly,
is subject to change after such date. Readers should not place undue importance on forward- looking
information and should not rely upon this information as of any o ther date. The Company undertakes no
obligation to update these forward-looking statements in the event that management’s beliefs, estimates
or opinions, or other factors, should change.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this press release.