Lithium Ionic drills 1.89% Li2O over 10.2m and 1.92% Li2O over 6.4m at Bandeira
Lithium Ionic drills 1.89% Li2O over 10.2m and 1.92% Li2O over 6.4m at Bandeira
TORONTO, ON, July 20, 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 Out ro Lado (Galvani property) lithium deposits, as well as other
prospective regional targets, including Salinas and Itira.
Bandeira Drill Intercept Highlights
▪ 1.89% Li2O over 10.2m (hole ITDD-23-123)
▪ 1.92% Li2O over 6.4m and 1.83% Li2O over 5.9m (hole ITDD-23-121)
▪ 2.10% Li2O over 5.2m (hole ITDD-23-128)
Blake Hylands, P.Geo., Chief Executive Officer of Lithium Ionic, commented, “Our infill drilling
program continues to intersect excellent grades and widths, and is delivering on the objective of
providing a higher confidence resource to support forthcoming project development studies. We
continue to drill with 8 rigs at this target, with another 5 targeting Salinas and Itira.”
On June 27, 2023, the Company annou nced 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
(see press release dated June 27, 2023). The holes reported from Bandeira today have improved
drill spacing and established continuity of mineralization between previously drilled holes, which
is required to upgrade the MRE from Inferred to M&I, and ultimately to a Mineral Reserve estimate
in the future. Currently, approximately 39% of the MRE is classified in the M&I categories.
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 i n the region, controlling 14,182 hectares in an emerging hard rock lithium -producing
district coined Brazil’s “Lithium Valley”.
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-23-121
0 -90
163.40 169.82 6.4 1.92
and 182.04 183.59 1.6 2.59
and 331.55 337.47 5.9 1.83
ITDD-23-122 150 -68 164.11 168.11 4.0 1.49
ITDD-23-123 150 -70 149.16 159.40 10.2 1.89
and 285.88 286.88 1.0 1.40
ITDD-23-124 150 -80 55.09 56.09 1.0 1.03
and 80.04 81.04 1.0 0.98
ITDD-23-125 150 -57 144.94 147.97 3.0 1.43
ITDD-23-126 0 -90 105.80 108.37 2.6 1.02
ITDD-23-127 150 -50 81.91 82.66 0.8 1.11
ITDD-23-128 150 -84 178.46 183.69 5.2 2.10
ITDD-23-129 150 -60 157.10 162.60 5.5 1.40
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 we re 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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This press release contains statements that constitute “forward -statements.” Such forward
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cause the Company’ s actual results, performance or achievements, or developments to differ
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