Lithium Ionic drills 1.98% Li2O over 26m at Galvani and 1.99% Li2O over 7m at Bandeira Showing, Brazil
Lithium Ionic drills 1.98% Li2O over 26m at Galvani and 1.99% Li2O over 7m at
Bandeira Showing, Brazil
TORONTO, ON, November 10, 2022 – Lithium Ionic Corp. (TSXV: LTH; OTCQB: LTHCF )
(“Lithium Ionic” or the “Company”) reports assay results from drilling at its Galvani claims, as
well as Bandeira (formerly Area 1) of its Itinga claims. The 100%-owned properties are located in
the state of Minas Gerais, Brazil, neighbouring the lithium -producing CBL mine and Sigma
Lithium’s Grota do Cirilo property, the largest lithium hardrock deposit in the Americas (see Figure
1, location map).
Results Highlights
▪ 1.98% Li2O over 25.63m (Galvani, hole ARDD-22-030)
▪ 1.99% Li2O over 6.75m (Bandeira, hole ITDD-22-011)
▪ 1.56% Li2O over 3.90m and 1.66 Li2O over 2.76 (Bandeira, hole ITDD-22-013)
▪ 1.44% Li2O over 8.33m (Bandeira, hole ITDD-22-012)
Blake Hylands, Chief Executive Officer of Lithium Ionic, commented, “The strong assays from
Bandeira are providing confirmation of depth extensions near and below the excellent results from
the surface work and trenching program. We continue to feel very confident in our ability to
delineate a broad system and look forward to progressing with our drill program.”
Galvani Claims Area Update
The Galvani claims were acquired in September 2022, following a due diligence review including
a drilling program initiated in June 2022. The results announced today of 1.98% Li2O over 25.63
metres are the strongest grades in this area encountered since the Company began drilling
earlier this year and further reinforce the potential of the area (See Figure 2). Other previously
announced assay highlights from Galvani include 1.68% Li2O over 20.7m, 1.77% Li2O over
10.85m, 1.94% Li2O over 19.78m and 1.30% Li2O over 38.5m and have shown a continuous
zone of spodumene-bearing pegmatite over ~800m along a northwest -southeast trend down to
approximately 100m elevation below surface. While the company works on better understanding
the geology at the Galvani claims and assesses the entire area with soil geochemistry and
trenching, the focus of drilling has moved to the Bandeira area.
The Galvani property is located less than 4 kilometres from Sigma Lithium ’s Xuxa deposit (over
17Mt grading 1.55% Li2O M+I). The high grade and large widths of the intercepts to date
demonstrate excellent potential to outline a significant resource very quickly. Mineralization is
hosted in spodumene bearing pegmatites sourced from the same granitic intrusive, which
characterizes Lithium Ionic’s Bandeira Showing, CBL’s lithium mining operation, and Sigma
Lithium’s resources (Figure 2).
Strong Results from Bandeira
The current drilling p rogram targets near surface mineralization at Bandeira associated with
several lithium soil anomalies over a 1.3 km trend with the aim of delineating an inaugural mineral
resource estimate in early 2023. Bandeira is located 800 metres south of the operating CBL
Lithium Mine and directly north of Sigma Lithium’s Barreiro project. The strong values announced
today of 1.99% Li2O over 6.75m, 1.56% Li2O over 3.90m and 1.44% Li2O over 8.33m are
located within 50 metres from surface (See Figures 3 and 4).
Today’s results follow-up on the excellent assays announced on May 31, 2022, including 1.93%
Li2O over 5.66m and 1.55% Li2O over 5.2m , which confirmed high-grade depth extensions of
strong trenching results that returned 1.46% Li2O over 8.8m incl. 1.82% Li2O over 5.8m (see
press release dated May 24, 2022). The Company continues to uncover several pegmatite
showings across this area via trenching and looks forward to updating results from several
prospective showings in the coming weeks. So far, the style of deposition in this area is
characterized by several stacked and intercalated pegmatite vein sets that show significant
combined meterage over the length of drill holes. The potential to add significant resources very
quickly in this area is becoming more apparent as new pegmatites are uncovered.
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
production at CBL and published metallurgical work on adjacent properties.
Figure 1: Lithium Ionic Claims on Geology Map
Figure 2: Galvani Pegmatite and Drill Hole Locations
Figure 3: Bandeira Drill Hole and Section Locations
Figure 4: Sections LT100 and LT200 Facing North-East
Table 1. Galvani Drill Results
Hole ID Az Dip From To Metres Li2O (%) Nb
(ppm)
Sn
(ppm)
Ta
(ppm)
ARDD-22-030 0 -90 0 25.63 25.63 1.98 79 90 48
Table 2. Area 1 Drill Results
Hole ID Az Dip From To Metres Li2O (%) Nb
(ppm)
Sn
(ppm)
Ta
(ppm)
ITDD-22-011 150 -65 53.14 59.89 6.75 1.99 222 185 75
ITDD-22-012 150 -65 33.70 42.03 8.33 1.44 177 248 102
ITDD-22-013 150 -65 53.18 57.08 3.90 1.56 163 366 115
and 62.90 65.66 2.76 1.66 91 169 67
ITDD-22-014 150 -65 77.10 82.80 5.70 1.14 151 183 74
ITDD-22-015 150 -65 6.16 8.74 2.58 1.04 173 189 108
ITDD-22-016 150 -65 39.50 45.36 5.86 1.27 82 223 65
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 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 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 Itinga Project and the Galvani claims , the mineralization and development of the Itinga
Project, Galvani claims and other mining projects and prospects thereof . 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.
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.