Lithium Ionic drills 1.71% Li2O over 5.7m, 1.49% Li2O over 6.7m and 2.22% Li2O over 3.7m, at Bandeira Deposit, Minas Gerais, Brazil
Lithium Ionic drills 1.71% Li2O over 5.7m, 1.49% Li2O over 6.7m and 2.22% Li2O
over 3.7m, at Bandeira Deposit, Minas Gerais, Brazil
TORONTO, ON, December 21, 2022 – Lithium Ionic Corp. (TSXV: LTH; OTCQB: LTHCF )
(“Lithium Ionic” or the “Company”) reports assay results from an ongoing drilling program at its
100%-owned Bandeira property (formerly “Area 1”), in the state of Minas Gerais, Brazil. Bandeira
is located ~ 800m South from the lithium -producing CBL mine and ~8 00m North from Sigma
Lithium’s Grota do Cirilo property, the largest lithium hardrock deposit in the Americas.
Bandeira Results Highlights
▪ 1.22% Li2O over 9.2m, incl. 1.71% Li2O over 5.7m;
and 2.46% Li2O over 2m (hole ITDD-22-024)
▪ 1.49% Li2O over 6.7m (hole ITDD-22-030)
▪ 2. 22% Li2O over 3.7m (hole ITDD-22-025)
▪ 1.97% Li2O over 3.7m (hole ITDD-22-019)
Blake Hylands, Chief Executive Officer of Lithium Ionic, commented , “We are very encouraged
by the excellent results coming from Bandeira. The definition of mineralization is improving
significantly as we continue to identify new parallel zones of mineralized pegmatites at surface as
well as down dip from existing zones.”
The current drilling program at Bandeira aims to target near-surface mineralization associated
with several lithium soil anomalies covering a 1.3 km trend. The Company is aggressively drilling
its properties with a total of five drills and remains on track to deliver an inaugural NI 43-101
compliant mineral resource estimate in early 2023.
Bandeira is located 800 metres south of the operating CBL lithium mine and 800 metres north of
Sigma Lithium’s construction- stage Barreiro project . 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 nearby lithium producer as well as published
metallurgical work from adjacent properties.
The strong values announced today have confirmed new parallel zones of mineralized pegmatites
and confirmed high-grade depth extensions of previous trench and drill results, which is consistent
with the style of deposition in this area, which is characterized by several stacked and intercalated
pegmatite vein sets. Combined meterage over the length of drill holes is significant, and these
continued positive results support the Company’s belief in a broad mineralized system at this
target. (See Figures 1 and 2).
Previously announced drill highlights from Bandeira include:
1.44% Li2O over 8.33m (hole ITDD-22-012)
1.99% Li2O over 6.75m (hole ITDD-22-011)
1.93% Li2O over 5.66m (hole ITDD-22-002)
1.55% Li2O over 5.2m (hole ITDD-22-001)
1.56% Li2O over 3.90m and 1.66 Li2O over 2.76 (hole ITDD-22-013)
Lithium Ionic Completes Acquisition of Borges Claims
The Company has successfully closed the transaction which it announced on December 7, 2022,
in which it acquired three claims totaling 1,527 hectares, within the same lithium basin as its other
properties, in Minas Gerais, Brazil (see Figure 3, location map). These newly acquired claims are
located along trend with the known lithium deposits in the Itinga Pegmatite Field, including lithium
producer CBL’s deposit, as well as Sigma Lithium’s Xuxa and Barreiro deposits.
Several pegmatite occurrences have already been identified on these properties and will be
systematically explored with the aim to define potential spodumene mineral resources.
Figure 1: Bandeira Drill Hole and Section Locations
Figure 2: Section LT600 Facing North-East
Figure 3: Lithium Ionic Claims on Geology Map
Table 1. Bandeira Drill Results
Hole ID Az Dip From To Metres Li2O (%)
ITDD-22-017 150 -65 62.21 67.15 4.94 1.06
incl. 64.21 67.15 2.94 1.29
ITDD-22-018 150 -65 NSV
ITDD-22-019 150 -65 29.83 33.57 3.74 1.97
ITDD-22-020 150 -65 19.65 20.65 1.00 0.68
ITDD-22-021 150 -65 31.90 34.73 2.83 1.29
ITDD-22-022 150 -65 13.31 18.31 5.00 0.50
incl. 14.31 16.31 2.00 0.70
ITDD-22-023 150 -65 Assays Pending
ITDD-22-024 150 -65 28.14 37.35 9.21 1.22
incl. 28.14 33.86 5.72 1.71
and 159.72 161.72 2.00 2.46
ITDD-22-025 150 -65 67.62 71.31 3.69 2.22
ITDD-22-026 150 -65 12.73 14.72 1.99 0.49
ITDD-22-027 150 -65 21.21 29.09 7.88 0.45
ITDD-22-028 150 -65 38.64 40.25 1.61 1.95
and 51.39 53.39 2.00 0.67
ITDD-22-029 150 -65 41.46 46.93 5.47 0.88
incl. 44.28 46.93 2.65 1.29
and 145.91 149.08 3.17 1.21
ITDD-22-030 150 -65 46.60 53.30 6.70 1.49
About Lithium Ionic Corp.
Lithium Ionic is a Canadian- based lithium -focused mining company with properties covering
~2,000 hectares located in the prolific Aracuai lithium province in Minas Gerais State, Brazil, which
boasts excellent infrastructure, including highways, access to hydroelectrical grid power, water,
and nearby commercial ports. Its Itinga and Galvani claims are located in the same district as the
lithium-producing CBL mine and development -stage Sigma Lithium Corp.’s large Barreiro and
Xuxa lithium deposits.
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.
For more information please contact:
Lithium Ionic Corp.
Blake Hylands, P.Geo.
Chief Executive Officer
Email: [email protected]
Cautionary Note Regarding Forward-Looking Statements
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 Company’s mineral properties , the Company’s ability to produce a NI 43 -101 compliant
mineral resource estimate, the mineralization and development of the Company’s mineral
properties and other mining projects and prospects thereof. Such statements and info rmation
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, performance 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
other 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.