Lithium Ionic drills best hole to date; 13 individual well-mineralized pegmatite veins within one hole with highlights of 1.32% Li2O over 24m, incl. 2.12% Li2O over 8m and separate veins with 2.53% Li2O over 6.09m and 1.88% Li2O over
Lithium Ionic drills best hole to date; 13 individual well-mineralized pegmatite
veins within one hole with highlights of 1.32% Li2O over 24m, incl. 2.12% Li2O
over 8m and separate veins with 2.53% Li2O over 6.09m and 1.88% Li2O over
7.72m at the Bandeira Property, Minas Gerais, Brazil
TORONTO, ON, March 29, 2023 – Lithium Ionic Corp. (TSXV: LTH; OTCQB: LTHCF; FSE: H3N)
(“Lithium Ionic” or the “Company”) reports assay results from hole ITDD-23-065 drilled at its 100%-
owned Bandeira property as part of an ongoing 30,000 metre drill program at the Itinga Project,
located within the Araçuaí district in the state of Minas Gerais, Brazil. ITDD-23-065 represents
the best hole drilled to date at Bandeira, intersecting 13 well- mineralized individual pegmatite
veins with high grade lithium content over widths of up to 24 metres (see complete results in Table
1).
The Company has completed 22,000 metres of the drill program to date between the Bandeira
and Galvani properties, which together cover only 872 of the 14,182 hectares it controls in this
lithium-producing district. 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’s large Barreiro lithium deposit (see Figure 1).
Hole ITDD-23-065 Highlights:
Hole drilled to a depth of approximately 500m, intersected 13 individual well-
mineralized stacked pegmatite veins from 160m to 485m down hole (see Figure 2
cross section), consistent with other large lithium deposits nearby.
Best intersections drilled to date at Bandeira, with high lithium content over
significant widths, including:
o 1.32% Li20 over 24m, incl. 2.12% Li2O over 8m (See core photo, Figure 3)
o 2.53% Li20 over 6.09m
o 1.88% Li20 over 7.72m
The hole successfully extended high -grade mineralization a further 200 metres
down dip from previously reported hole ITDD -23-52 (see Figure 2), exceeding
expectations with a continuous mineralized zone extending 500m from surface
which significantly widens at depth.
Two 150m step -out holes planned to test mineral continuity to the North- West,
while assays are pending for drilled holes ITDD-23-060 and ITDD-23-052 to confirm
up dip mineral continuity.
Blake Hylands, P.Geo., Chief Executive Officer of Lithium Ionic, comment ed, “Hole 65 returned
exceptional results, which from a grade and thickness perspective is by far the best hole ever
drilled at the Bandeira property. Although this zone of multiple new mineraliz ed pegmatites
requires further definition, we are very encouraged by the prospect of a high- grade vein system
which remains completely open to expansion up dip and at depth. W e believe there is strong
potential to expand on this extensive body of mineralization with the ongoing drilling. Our initial
30,000 metre drill program is nearing completion with five drills now turning at Bandeira and an
additional two at Galvani. We look forward to continuing to report on the remaining results, which
is expected to culminate into a mineral resource estimate in Q2 2023.”
The new hole ITDD-23-065, along with holes ITDD-23-061 and ITDD-23-063 announced on
March 21, 2023, which returned well-mineralized intervals of 1.43% Li2O over 17.1m and 1.73%
Li2O over 13.6m represent much thicker pegmatites than previous results and point to the scale
potential of the project as 12 separate NE-SW trending LCT (Lithium – Cesium – Tantalum)
pegmatites continue to be defined.
The Company continues to drill nearly 4,000 metres per month and has completed approximately
22,000 metres (158 drill holes) of a budgeted 30,000 metre drill program, focused primarily on the
Bandeira and Galvani targets. Approximately 14 ,000 metres (94 drillholes) have been drilled at
Bandeira and approximately 8,000 metres (64 drillholes) have been drilled at Galvani. Seven drills
are turning at the Bandeira and Galvani targets, with an 8th rig being prepared for mobilization, as
the Company continues to define the extent of the lithium deposits in preparation for a NI 43-101
mineral resource estimate expected in Q2 2023. The drill campaign at the Itinga Project was
designed to deliver an initial mineral resource estimate by targeting near -surface mineralization
associated with extensive lithium soil anomalies and trenches identified in 2022.
Previously announced drill highlights from Bandeira include:
1.43% Li2O over 17.1m (hole ITDD-23-061)
1.73% Li2O over 13.6m (hole ITDD-23-063)
1.47% Li2O over 15m from 242 metres depth (hole ITDD-23-057)
1.59% Li2O over 9.62m, incl. 2.39 Li2O over 5m (hole ITDD-22-039)
1.27% Li2O over 10.09m, incl. 2.13% Li2O over 5.06m (hole ITDD-22-023)
1.99% Li2O over 6.75m (hole ITDD-22-011)
1.44% Li2O over 8.33m (hole ITDD-22-012)
1.22% Li2O over 9.2m, incl. 1.71% Li2O over 5.7m (hole ITDD-22-024)
1.49% Li2O over 6.7m (hole ITDD-22-030)
2.22% Li2O over 3.7m (hole ITDD-22-025)
1.93% Li2O over 5.66m (hole ITDD-22-002)
1.55% Li2O over 5.2m (hole ITDD-22-001)
Figure 1: Plan Map of Bandeira Property with Drill Highlights, Section Locations & Nearby
Lithium Deposits
Figure 2: Section LT700 Facing North-East; Holes ITDD-23-065
Figure 3: Core Photo of Hole ITDD-23-065 from section LT700
Table 1. Bandeira Drill Results
Hole ID Az Dip From To Metres Li2O (%)
ITDD-23-065
150 -83
159.6 164.6 4.98 1.12
and 203.9 208.2 4.23 1.53
and 271.2 277.3 6.09 2.53
and 321.2 324.2 3.00 1.25
and 336.7 339.4 2.74 1.32
and 344.5 346.5 2.00 1.9
and 354.2 378.2 24.00 1.32
incl. 356.2 364.2 8.00 2.12
and 390.1 397.8 7.72 1.88
and 400.7 403.1 2.34 1.3
and 441.9 445.4 3.49 2.04
and 449.8 451.3 1.50 1.23
and 456.3 461.9 5.60 0.89
and 478.8 485.1 6.34 0.62
About Lithium Ionic Corp.
Lithium Ionic is a Canadian- based lithium -focused mining company with properties covering
14,182 hectares located in the prolific Araçuaí province in Minas Gerais State, Brazil , which
boasts excellent infrastructure, including highways, access to hydroelectrical grid power, water,
and nearby commercial ports. Its Itinga Project neighbours CBL’s Cachoeira lithium mine and
Sigma Lithium Corp.’s construction-stage Grota do Cirilo project.
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 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, the Company’s exploration program 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 achiev ements 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
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these forward-looking statements in the event that management’s beliefs, estimates or opinions,
or other factors, should change.
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