Lithium Ionic drills 1.94% Li2O over 15.0m, 1.91% Li2O over 9.8m and 1.68% Li2O over 9.1m at Bandeira, Minas Gerais, Brazil
Lithium Ionic drills 1.94% Li2O over 15.0m, 1.91% Li2O over 9.8m and 1.68% Li2O
over 9.1m at Bandeira, Minas Gerais, Brazil
TORONTO, ON, September 27, 2023 – Lithium Ionic Corp. (TSXV: LTH; OTCQB: LTHCF; FSE:
H3N) (“Lithium Ionic” or the “Company”) reports drill results from Bandeira, one of the four targets
presently being drilled within the Company’s 14,182 -hectare land package in northern Minas
Gerais State, Brazil. This region, recently coined “Lithium Valley” by state officials and geologically
located within the Eastern Brazil Pegmatite Province, is emerging as a prolific hard rock lithium-
producing region. These results form part of a large 50,000-metre drill program underway for H2
2023, with 13 drills currently operating.
Bandeira Drill Intercept Highlights (See Figure 1):
1.94% Li2O over 15.0m (hole ITDD-23-158; see Figure 2)
1.91% Li2O over 9.8m (hole ITDD-23-151; see Figure 2)
1.68% Li2O over 9.1m (hole ITDD-23-148)
1.45% Li2O over 8.6m (hole ITDD-23-150)
1.67% Li2O over 6.2m, incl. 2.21% Li2O over 4.0m (hole ITDD-23-156)
1.75% Li2O over 5.3m (hole ITDD-23-149)
Blake Hylands, P.Geo., Chief Executive Officer of Lithium Ionic, commented, “ Our infill and
expansion drilling program at Bandeira continues to yield positive results. We are particularly
impressed with the high-grade results from holes ITDD-23-158 and ITDD-23-151 of 1.94% Li2O
over 15.0m and 1.91% Li2O over 9.8m which confirmed a 250m down-dip extension of a large
and widening pegmatite that extends over 800 metres from surface, reaching a depth of 450
metres.”
The Bandeira lithium deposit is located in the same district where Companhia Brasileira de Litio
(CBL)’s Cachoeira mine has been producing lithi um for +30 years, and recent producer Sigma
Lithium operates the Grota do Cirillo project, which hosts the largest hard rock lithium deposit in
the Americas (See Figure 1 ). In late June 2023, Lithium Ionic published an initial NI 43 -101
compliant mineral resource estimate (“MRE”) at the Bandeira and Outro Lado deposits 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).
Drilling at Bandeira is focused on upgrading the mineral resource classifications in support of
economic and engineering studies , as well as test ing mineralized extensions to expand the
resources.
The Company is rapidly a dvancing the Bandeira deposit towards a production decision, while it
continues to explore and define regional targets. Project engineering is underway by independent
Brazilian consultant, GE21 Consultoria Mineral Ltda., with a Preliminary Economic Assessment
(“PEA") expected in the coming weeks. Concurrently, NEO Agroambiental Ltda is completing the
RCA (Environmental Control Report) and PCA (Environmental Control Plan) to support the
application of a Concomitant Environmental and Installation License (“LAC”, or Licença Ambiental
Concomitante) for the underground portion of the Bandeira deposit . The LAC is an accelerated
permitting scenario available to projects whose mine infrastructure covers a small footprint where
deforestation is not required. The LAC replaces the first two steps of the environmental licensing
process: the Preliminary License (LP - Licença Prévia) and the Installation License (LI – Licença
de Instalação ); which precede the final Operating License (LO - Licença de Operação ). In
addition, WSP (formerly Golder) is working to complete an Environmental Impact Assessment
covering all the Bandeira mineral rights by year-end, which is required for the portions of the
project that are not eligible for the LAC.
Figure 1. Bandeira Drill Collars and Traces with Intercept Highlights
Figure 2. Section LT 000; Showing New Results for Holes ITDD-23-151 and ITDD-23-158
Table 1. Bandeira Drill Results
Hole ID Az Dip From To Metres Li2O (%)
ITDD-23-136
150 -50
21.20 21.68 0.5 1.89
and 85.97 89.97 4.0 1.73
and 92.75 94.84 2.1 1.01
ITDD-23-143
150
-66
48.05 52.40 4.4 1.68
and 164.12 167.19 3.1 1.34
and 187.65 188.03 0.4 2.99
and 342.37 344.37 2.0 1.83
and 366.77 367.20 0.4 1.58
and 383.35 388.72 5.4 1.72
and 398.90 400.75 1.9 2.40
ITDD-23-148
150
-65
74.13 77.87 3.7 1.23
and 257.50 266.60 9.1 1.68
and 317.40 320.17 2.8 2.11
and 326.16 328.99 2.8 1.44
ITDD-23-149
150
-66
23.38 24.73 1.4 1.59
and 46.51 48.45 1.9 1.52
and 84.12 87.36 3.2 0.80
and 434.80 440.10 5.3 1.75
and 445.49 447.17 1.7 0.78
ITDD-23-150 0
-90
123.60 129.60 6.0 1.74
and 142.44 145.44 3.0 2.67
and 293.11 301.75 8.6 1.45
ITDD-23-151 150 -77 348.98 351.05 2.1 1.17
and 411.87 421.66 9.8 1.91
ITDD-23-156
0 -90
63.03 67.36 4.3 1.30
and 211.64 217.86 6.2 1.67
incl. 213.86 217.86 4.0 2.21
and 313.78 317.61 3.8 1.78
ITDD-23-158 0 -90 393.02 396.02 3.0 1.09
and 453.97 468.92 15.0 1.94
*Assays pending for ITDD-23-152, ITDD-23-153, ITDD-23-154 and ITDD-23-157.
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
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 devel opments 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 t hat 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 economic viability of the Itinga Project, the mineralization
and development of the Company’s mineral properties, the Company’s exploration program and
other mining projects and prospects thereof , the Company’s ability to complete a PEA, the
Company’s ability to complete an environmental impact assessment and obtain the requisite
permitting and approvals 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, 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.
Information and links in this press release relating to other mineral resource companies are from
their sources believed to be reliable, but that have not been independently verified by the
Company.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the
policies of the TSXV) accepts responsibility for the adequacy o r accuracy of this press
release.