Lithium Ionic drills 1.31% Li2O over 14m and 2.29% Li2O over 7.1m at Bandeira, Minas Gerais, Brazil
Lithium Ionic drills 1.31% Li2O over 14m and 2.29% Li2O over 7.1m at Bandeira,
Minas Gerais, Brazil
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 lithium -
producing district.
Bandeira Drill Intercept Highlights
▪ 1.31% Li2O over 14m, incl. 1.50% Li2O over 7.9m intersected at shallow depths
(57m-71m down hole) (hole ITDD-23-087)
▪ 2.29% Li2O over 7.1m and 2.17% Li2O over 5m (hole ITDD-23-083)
▪ 2.17% Li2O over 5.8m (hole ITDD-23-082)
▪ 1.63% Li2O over 7.7m (hole ITDD-23-094)
▪ 1.62% Li2O over 8.2m (hole ITDD-23-096)
▪ 1.31% Li2O over 9.4m (hole ITDD-23-084)
▪ 1.37% Li2O over 8.8m (hole ITDD-23-089)
▪ 1.47% Li2O over 8m (hole ITDD-23-093)
Blake Hylands, P.Geo., Chief Executive Officer of Lithium Ionic, commented, “Drilling at Bandeira
has identified an impressive number of spodumene bearing pegmatites at shallow depths with
grades consistent with neighbouring operations. Intercepts at Bandeira in the past few months
are among the thickest and highest grades to date and we anticipate that the initial independently
verified mineral resource estimate we expect to complete in the coming weeks will set a
foundation for significant additional growth as we continue to drill Bandeira in the second half of
the year.”
The upcoming NI 43-101 MRE will be completed by SGS Canada, capturing results from ~30,000
metres drilled at the Bandeira and Galvani targets. These two properties together cover only 872
hectares of the Company’s 14,182 hectares land package in Brazil’s “Lithium Valley”, a unique
hard rock lithium district that is quickly emerging as an important global lithium producer.
In addition to continued drilling at its main targets, Bandeira and Galvani, a 20,000-metre drilling
program is also underway on claims within its newly acquired Salinas project, which are directly
adjacent to Latin Resources’ 13.3Mt @ 1.2% Li2O Colina lithium deposit. Exploratory drilling also
continues at the Itira property, located less than a kilometre West of Galvani.
Figure 1: Bandeira Drill Highlights, Section Locations & Nearby Lithium Mines/Deposits
Table 1. Bandeira Drill Results
Hole ID Az Dip From To Metres Li2O (%)
ITDD-23-080 150 -53 255.5 261.7 6.2 1.49
ITDD-23-082
150 -85
50.6 56.4 5.8 2.17
and 99.9 102.2 2.3 1.04
and 196.2 201.0 4.8 1.48
ITDD-23-083
150 -53
59.1 66.1 7.0 1.37
and 172.2 177.2 5.0 2.17
and 310.7 314.0 3.2 1.29
and 372.7 379.8 7.1 2.29
ITDD-23-084 150 -50 275.4 284.9 9.4 1.31
ITDD-23-085 330 -65 73.4 74.5 1.1 0.67
ITDD-23-086
150 -73
69.9 72.1 2.2 1.48
and 272.5 283.3 10.8 1.04
incl. 272.5 278.0 5.5 1.36
and 293.7 299.9 6.2 1.33
ITDD-23-087
330 -50
56.9 71.0 14.0 1.31
incl. 56.9 64.9 7.9 1.50
incl. 67.8 71.0 3.2 1.58
ITDD-23-088
150 -53
83.3 86.3 3.0 0.96
and 199.9 202.6 2.7 1.59
and 206.0 210.2 4.2 1.87
and 272.5 274.6 2.2 2.21
ITDD-23-089 330 -60 63.3 72.0 8.8 1.37
and 155.5 161.5 6.0 1.22
ITDD-23-090
150 -87
161.7 170.0 8.2 1.03
incl. 166.0 170.0 4.0 1.29
and 259.5 263.5 4.0 1.80
and 387.0 390.0 3.0 1.62
and 442.9 445.7 2.8 1.79
and 465.6 471.9 6.2 1.57
and 564.5 567.5 3.0 1.56
ITDD-23-091
150 -88
29.8 31.2 1.4 1.32
and 112.1 113.6 1.5 1.30
and 426.0 427.3 1.2 1.23
and 479.8 482.0 2.2 2.04
and 486.0 489.2 3.2 0.82
ITDD-23-092 150 -81 92.8 95.8 3.0 1.58
and 103.8 109.4 5.6 1.23
ITDD-23-093 330 -60 43.7 51.7 8.0 1.47
ITDD-23-094 150 -50 80.6 88.3 7.7 1.63
ITDD-23-095
150 -50
46.4 48.5 2.1 0.70
and 190.3 191.7 1.3 0.79
and 205.4 206.9 1.5 1.13
and 216.2 223.1 6.9 1.38
ITDD-23-096 150 -80 89.0 97.2 8.2 1.62
ITDD-23-097 150 -50 38.7 44.1 5.4 1.48
ITDD-23-098 150 -50 pending
ITDD-23-099 150 -50 63.0 65.0 2.0 1.91
and 69.0 72.5 3.5 1.32
ITDD-23-100 150 -50 32.5 33.5 1.0 0.56
ITDD-23-101 0 -90 76.7 81.7 5.0 1.55
About Lithium Ionic Corp.
Lithium Ionic is a Canadian mining company exploring and developing its lithium properties in
Brazil. Its flagship Itinga and Salinas projects cover 14,182 hectares in the northeastern part of
Minas Gerais state, a mining-friendly jurisdiction that is quickly emerging as a world-class hard-
rock lithium district. The Itinga Project is situated in the same region as CBL’s Cachoeira lithium
mine, which has produced lithium for +30 years, as well as Sigma Lithium Corp.’s Grota do Cirilo
project, which hosts the largest hard-rock lithium deposit in the Americas.
Quality Assurance and Control
During the drill program, assay samples were taken from NQ core and sawed in half. One- half
was sent for assaying at SGS Laboratory, a certified independent commercial laboratory, and the
other half was retained for results, cross checks, and future reference. A strict QA/QC program
was applied to all samples. Every sample was processed with Drying, crushing from 75% to 3
mm, homogenization, quartering in Jones, spraying 250 to 300 g of sample in steel mill 95% to
150. SGS laboratory carried out multi-element analysis for ICP90A analysis.
Qualified Persons
The technical information in this news release has been prepared by Carlos Costa, Vice President
Exploration of Lithium Ionic and Blake Hylands, CEO and director of Lithium Ionic, and both are
“qualified persons” as defined in NI 43-101.
Investor and Media Inquiries:
+1 647.316.2500
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