Lithium Ionic drills 1.69% Li2O over 7.8m and 1.32% Li2O over 9.2m at Bandeira
Lithium Ionic drills 1.69% Li2O over 7.8m and 1.32% Li2O over 9.2m at Bandeira
TORONTO, ON, July 11, 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. These results
form part of an ongoing 50,000 metre expansion and definition drilling program for H2 2023
targeting the Bandeira and Outro Lado (Galvani property) lithium deposits, as well as other
prospective regional targets, including Salinas and Itira.
On June 27, 2023, the Company announced a maiden National Instrument 43-101 compliant
mineral resource estimate (“MRE”) of 7.57 million tonnes (“Mt”) grading 1.40% lithium oxide
(“Li2O”) of Measured and Indicated (“M&I”) and 11.86Mt grading 1.44% Li2O of Inferred
resources. The holes reported from Bandeira today have improved drill spacing and established
continuity of mineral ization between previously drilled holes , which is required to upgrade the
mineral resource estimate from Inferred to M&I, and ultimately to mineral Reserve estimate in the
future. Currently, approximately 39% of the MRE is classified in the M&I categories.
Bandeira Drill Intercept Highlights
▪ 1.69% Li2O over 7.79m (hole ITDD-23-109)
▪ 1.32% Li2O over 9.15m (hole ITDD-23-105)
▪ 1.39% Li2O over 8.41m (hole ITDD-23-119)
▪ 1.74% Li2O over 6.39m (hole ITDD-23-112)
▪ 1.55% Li2O over 7.01m (hole ITDD-23-102)
▪ 1.86% Li2O over 5.70m (hole ITDD-23-120)
Blake Hylands, P.Geo., Chief Executive Officer of Lithium Ionic, commented, “We continue to see
strong and consistent results from Bandeira. Eight of the 13 drills on our properties are at
Bandeira, further defining the deposit and improving drill spacing to establish a mineral Reserve
estimate for the Definitive Feasibility Study (DFS) targeted for completion by the end of 2023. We
are drilling approximately 7,000 metres per month in the region and look forward to sharing results
from other regional targets in the near-term.”
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 an emerging hard rock lithium-producing district coined Brazil’s “Lithium Valley”. Since
April 2022, the Company has completed 53,000 meters of drilling with 314 holes mostly at the
Bandeira and Outro Lado deposits, and more recently at the Salinas property.
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-23-098 150 -50 62.59 67.59 5.00 1.64
and 194.04 196.69 2.65 1.02
ITDD-23-102 150 -76 52.60 55.60 3.00 1.29
and 226.35 233.36 7.01 1.55
ITDD-23-103 150 -50 197.00 200.00 3.00 1.33
ITDD-23-104 0 -90 55.89 60.33 4.44 0.79
ITDD-23-105
150 -86
97.01 99.52 2.51 1.47
and 110.73 116.40 5.67 1.49
and 220.44 229.59 9.15 1.32
and 370.38 375.38 5.00 1.24
ITDD-23-106 150 -50 133.08 135.23 2.15 0.95
ITDD-23-107 150 -53 197.74 199.94 2.20 1.37
and 209.54 214.49 4.95 1.51
ITDD-23-108 0 -90 75.26 81.26 6.00 1.59
and 86.52 88.84 2.32 1.51
ITDD-23-109 150 -50 120.09 127.08 6.99 1.28
and 247.87 255.66 7.79 1.69
ITDD-23-110 150 -50 58.58 62.84 4.26 2.15
ITDD-23-111 150 -50 27.80 34.40 6.60 1.51
ITDD-23-112 150 -74 124.79 131.18 6.39 1.74
and 142.43 144.36 1.93 1.20
ITDD-23-113 150 -72 97.33 99.89 2.56 1.75
ITDD-23-114 0 -90 71.78 78.15 6.37 0.96
ITDD-23-115 150 -50 34.08 41.00 6.92 1.26
ITDD-23-116 150 -72 112.82 117.36 4.54 2.18
ITDD-23-117 150 -67 166.63 169.18 2.55 0.74
ITDD-23-118 150 -50 161.16 164.07 2.91 1.12
ITDD-23-119 150 -73 124.13 132.54 8.41 1.39
ITDD-23-120 150 -50 109.66 115.92 6.26 1.24
and 253.93 259.63 5.70 1.86
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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