Lithium Ionic drills high-grade 1.69% Li₂O over 9.6m, 1.27% Li₂O over 10m and 1.61% Li₂O over 4.7m at its Bandeira target, Minas Gerais, Brazil
Lithium Ionic drills high-grade 1.69% Li₂O over 9.6m, 1.27% Li₂O over 10m and
1.61% Li₂O over 4.7m at its Bandeira target, Minas Gerais, Brazil
TORONTO, ON, January 24, 2023 – Lithium Ionic Corp. (TSXV: LTH; OTCQB: LTHCF; FRA:
H3N) (“Lithium Ionic” or the “Company”) reports assay results from an ongoing drilling program at
its 100% -owned Bandeira property, located in the state of Minas Gerais, Brazil . Bandeira is
located approximately 500 metres South of Companhia Brasileira de Lítio’s (CBL) Cachoeira
mine, which has been producing lithium since 1993, and approximately 700 metres North of
Sigma Lithium’s Barreiro lithium deposit, forming part of the largest hard rock lithium deposit in
the Americas (See Figure 1).
Bandeira Results Highlights
▪ 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)
▪ 1.61% Li₂O over 4.72m and 2.43% Li₂O over 1.40m (hole ITDD-22-038)
▪ 1.95% Li₂O over 1.60m within 0.78% Li₂O over 8.90m (hole ITDD-22-032)
▪ 1.43% Li₂O over 1.28 and 1.28% Li₂O over 4.88m (hole ITDD-22-035)
▪ 1.43% Li₂O over 4.36m (hole ITDD-22-043)
▪ 1.34% Li₂O over 2m (hole ITDD-22-036)
▪ 1.42% Li₂O over 3.31m (hole ITDD-22-045)
Blake Hylands, Chief Executive Officer of Lithium Ionic, commented, “Results from Bandeira
continue to impress us, with latest intercepts returning some of the strongest grades and
thicknesses encountered to date at this target. We have now identified an over 1km mineralized
trend with at least six different spodumene-bearing pegmatite bodies which remain open in all
directions. We continue to aggressively drill Bandeira as we work towards delivering our maiden
mineral resource estimate in the coming months.”
To date, Lithium Ionic has completed over 11,000 metres (95 drill holes) of a planned 30,000-
metres drill program, focused primarily on its Bandeira and Galvani targets. Approximately 5,800
metres (51 drillholes) have been drilled at Bandeira, while approximately 5,600 metres have been
drilled at Galvani (44 drillholes). The drill campaign a t Bandeira was designed to target near -
surface mineralization associated with several lithium soil anomalies covering a ~1.3 km trend,
which were identified in early 2022.
To date, the Company has identified at least six different NE -SW trending lithium-bearing LCT
pegmatites. These mineralized bodies range from 1 to 10 meters in width and can be traced over
a 1km strike length. The average depth of the lithium zones drilled to date is approximately 150
metres, however the Company has intersected strong lithium grades and thicknesses up to 300
metres below surface. The style of mineralization found to date, characterized by several stacked
pegmatite vein sets are consistent with other nearby lithium deposits.
The strong values announced today have confirmed new near-surface zones of mineralization,
such as hole ITDD- 22-023 which intersected 1.27% Li₂O over 10.09 metres within 25m from
surface (see Figure 2) and have also confirmed high-grade depth extensions of previous trench
and drill results, such as holes ITDD-22-032 and ITDD-22-039 intersecting up to 1.59% Li₂O over
9.62m and 1.95% Li₂O over 1.60m (see Figure 3).
Previously announced drill highlights from Bandeira include:
1.44% Li₂O over 8.33m (hole ITDD-22-012)
1.99% Li₂O over 6.75m (hole ITDD-22-011)
1.93% Li₂O over 5.66m (hole ITDD-22-002)
1.49% Li₂O over 6.7m (hole ITDD-22-030)
2.22% Li₂O over 3.7m (hole ITDD-22-025)
1.97% Li₂O over 3.7m (hole ITDD-22-019)
1.55% Li₂O over 5.2m (hole ITDD-22-001)
1.56% Li₂O over 3.90m and 1.66 Li₂O over 2.76 (hole ITDD-22-013)
1.22% Li₂O over 9.2m, incl. 1.71% Li₂O over 5.7m; and 2.46% Li₂O over 2m
(hole ITDD-22-024)
The Company recently mobilized a sixth drill rig and continues to aggressively explore, with four
rigs at Bandeira and two at Galvani as it works towards completing a maiden NI 43 -101 mineral
resource estimate in the coming months.
Figure 1: Bandeira Drill Highlights, Section Locations & Nearby Lithium Deposits
Figure 2: Section LT500 Facing North-East
Figure 3: Section LT700 Facing North-East
Figure 4: Section LT800 Facing North-East
Figure 5: Lithium Ionic Claims Totalling ~3,600 ha Overlaid on Geology Map
Table 1. Bandeira Drill Results
Hole ID Az Dip From To Metres Li₂O (%)
ITDD-22-023 150 -65 33.5 43.59 10.09 1.27
incl. 38.53 43.59 5.06 2.13
and 114.34 115.9 1.56 1.01
ITDD-22-032 150 -65 18.35 19.95 1.60 1.95
and 130.30 139.20 8.90 0.78
ITDD-22-033A 150 -65 6.05 8.05 2.00 0.50
ITDD-22-034 330 -65 17.42 21.10 3.68 0.52
incl. 17.42 18.42 1.00 1.17
ITDD-22-035 150 -65 103.27 105.17 1.90 1.04
and 111.93 113.21 1.28 1.43
and 171.62 176.50 4.88 1.28
and 178.50 181.02 2.52 0.54
ITDD-22-036 330 -65 39.10 45.10 6.00 0.90
incl. 42.10 44.10 2.00 1.34
ITDD-22-038 150 -65 43.26 44.66 1.40 2.43
and 67.32 71.32 4.00 1.04
incl. 67.32 69.32 2.00 1.28
and 98.13 102.85 4.72 1.61
ITDD-22-039 150 -65 86.24 95.86 9.62 1.59
incl 86.24 91.24 5.00 2.39
ITDD-22-040 330 -65 55.90 56.90 1.00 1.36
ITDD-22-041 150 -65 37.16 37.97 0.81 0.60
ITDD-22-043 330 -65 38.05 42.41 4.36 1.43
ITDD-22-044 150 -65 NSV
ITDD-22-045 330 -65 41.57 44.88 3.31 1.42
About Lithium Ionic Corp.
Lithium Ionic is a Canadian-based lithium -focused mining company with properties covering
~3,600 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 construction-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 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.
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 ot her 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 dif ferent 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.
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policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press
release.