Lithium Ionic drills best intercept to date at Salinas; 1.13% Li2O over 28m and 1.60% Li2O over 12m, incl. 2.00% Li2O over 8m, Minas Gerais, Brazil
Lithium Ionic drills best intercept to date at Salinas; 1.13% Li2O over 28m and
1.60% Li2O over 12m, incl. 2.00% Li2O over 8m, Minas Gerais, Brazil
TORONTO, ON, December 7, 2023 – Lithium Ionic Corp. (TSXV: LTH; OTCQX: LTHCF; FSE:
H3N) (“Lithium Ionic” or the “Company”) reports results from the ongoing drilling program at the
Salinas Lithium Project (“Salinas”), located approximately 100 kilometres north of its Itinga group
of properties which hosts the Feasibility-stage Bandeira lithium project and the Outro Lado lithium
deposit (see press releases dated October 19, 2023 and June 27, 2023 ) (See location map,
Figure 1). The Company’s landholdings of 14,182 hectares are situated within the lithium-rich
Araçuaí Pegmatite District, also known as the “Lithium Valley”, in northern Minas Gerais State,
Brazil, where two lithium producers currently operate.
The Company is actively working towards establishing an initial NI 43 -101 resource estimate at
Salinas in 2024. With four drill rigs currently operating, the team is focused on continuing to test
and delineat e multiple outcropping spodumene -rich pegmatite bodies. Approximately 24,000
metres (99 holes) have been completed at Salinas since drilling began in May 2023.
Salinas Drill Intercept Highlights:
▪ 1.13% Li2O over 27.6m, including 1.34% Li2O over 9m representing a new record
high intercept at Salinas from a grade X width perspective at one of the most
scarcely drilled targets on the property (hole BGDD-23-109)
▪ 1.60% Li2O over 11.9m, including 2.00% Li2O over 8m near surface, from 63m
(hole BGDD-23-097)
▪ 1.45% Li2O over 9.8m near surface, from 28.7m (hole BGDD-23-079)
▪ 1.34% Li2O over 10m from 85m (hole BGDD-23-092)
▪ 1.35% Li2O over 9m (hole BGDD-23-088)
Blake Hylands, P.Geo., Chief Executive Officer of Lithium Ionic, commented, “The latest drill
results from Salinas, particularly our new record intercept, not only strengthens our confidence
but also highlights the substantial potential of this developing asset. As we steadily progress
towards an initial resource estimate on this property, it’s becoming increasingly clear that Salinas
could emerge as a significant contributor to both the size and scale of the overall lithium resources
we are delineating in this belt.”
Lithium Ionic acquired the Salinas group of properties in early 2023 from Neolit Minerals
Participações Ltda. (“Neoli t”; see press release dated March 13, 2023 ) and began selectively
drilling the area in May 2023, following up on a 4,000-metre, 24-hole, drill program completed by
the pre vious owner which yielded excellent results, including highlights of 1.53% Li2O over
11.4m, 1.22% Li2O over 13.8m, 1.71% Li2O over 9.8m and 1.19% Li2O over 13.4m. On July
25, 2023 , the Company reported initial results from its drilling program at Salinas, including
highlights of 1.38% Li2O over 16m, 1.60% Li2O over 12m, 1.55% Li2O over 9m, 1.26% Li2O
over 11m and 1.34% Li2O over 10m.
Figure 1. Salinas Lithium Project Location & Drill Intercept Highlights
Table 1. Salinas Drill Results
Hole ID Az Dip From To Metres Li2O (%)
BGDD-23-059 0 -90 32.78 34.54 1.76 1.23
BGDD-23-061 310 -60 168.62 171.62 3.00 1.02
BGDD-23-063 310 -60 230.30 233.30 3.00 0.72
BGDD-23-067 310 -65 136.35 138.14 1.79 1.04
BGDD-23-071 310 -85 212.75 216.75 4.00 2.02
BGDD-23-074 310 -85 141.44 144.44 3.00 1.22
and 148.44 150.44 2.00 2.51
BGDD-23-076 310 -60 79.33 82.33 3.00 1.68
BGDD-23-079 310 -60 28.67 38.45 9.78 1.45
BGDD-23-081 0 -90 46.18 51.18 5.00 0.75
BGDD-23-083 0 -90 61.62 67.35 5.73 1.27
BGDD-23-084 310 -60 34.93 37.93 3.00 1.26
BGDD-23-085 310 -60 22.98 26.15 3.17 0.51
and 58.65 63.65 5.00 1.39
BGDD-23-088 310 -63 232.46 241.46 9.00 1.35
BGDD-23-091 310 -60 182.70 185.70 3.00 0.78
BGDD-23-092 310 -60 84.89 94.89 10.00 1.34
including 84.89 90.89 6.00 1.72
BGDD-23-097 310 -60 63.12 75.00 11.88 1.60
including 64.00 72.00 8.00 2.00
BGDD-23-109
130 -80
8.00 10.00 2.00 1.48
and 108.26 135.84 27.58 1.13
including 110.26 119.26 9.00 1.34
including 130.26 135.84 5.58 1.39
*No significant results/values (nsv) for holes BGDD-23-062, BGDD-23-064, BGDD-23-065, BGDD-23-066, BGDD-23-068, BGDD-23-
069, BGDD-23-070, BGDD-23-075, BGDD-23-078, BGDD-23-086, BGDD-23-087, BGDD-23-089, BGDD-23-090 and BGDD-23-108.
**Holes BGDD-23-072, BGDD-23-073, BGDD-23-077, BGDD-23-080, BGDD-23-082 and BGDD-23-093 were not sampled.
***Assays pending for holes: BGDD-23-094 to BGDD-23-096 and BGDD-23-098 to BGDD-23-107
About Lithium Ionic Corp.
Lithium Ionic is a Canadian mining company exploring and developing its lithium properties in
Brazil. Its Itinga and Salinas group of properties 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. Its Feasibility-stage Bandeira 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 reviewed and approved by Carlos Costa,
Vice President Exploration of Lithium Ionic and Blake Hylands, CEO and director of Lithium Ionic,
who are both “qualified persons” as defined in NI 43-101.
The technical information relating to the historical exploration conducted by Neolit is historical in
nature and has not been independently verified by Lithium Ionic. A qualified person, as defined in
National Instrument 43-101, has not done sufficient work on behalf of Lithium Ionic to classify the
historical drilling reported above as c urrent mineral resources or mineral reserves and Lithium
Ionic is not treating the historical drill results as current mineral resources or mineral reserves.
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
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and development of the Company’s mineral properties, the Company’s exploration program and
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the Company’s ability to complete an environmental impact assessment and obtain the requisite
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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
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