Lithium Ionic Expands Newly Discovered Zone at Salinas; Drills 1.53% Li2O over 15m, incl. 2.31% Li2O over 8m; 1.15% Li2O over 19m, incl. 1.67% Li2O over 10m, and 1.32% Li2O over 14m
Lithium Ionic Expands Newly Discovered Zone at Salinas; Drills 1.53%
Li2O over 15m, incl. 2.31% Li2O over 8m; 1.15% Li2O over 19m, incl.
1.67% Li2O over 10m, and 1.32% Li2O over 14m
• Excellent follow-up drill results from high-grade discovery holes at the
“Noé” target announced in February 2024, including:
o 1.53% Li2O over 15m, incl. 2.31% Li2O over 8m
o 1.15% Li2O over 19m, incl. 1.67% Li2O over 10m
o 1.32% Li2O over 14m, incl. 2.16% Li2O over 7m
• The Noé target, located ~1.5km north of the mineral resource area, was not
included in the NI 43-101 estimate announced on April 4, 2024
• Salinas currently hosts a 14.76Mt lithium deposit, or 25% of the Company’s
total global mineral resource estimate of 60.1Mt
• Noé represents potential for significant future mineral growth at Salinas
TORONTO, ON, April 23, 2024 – Lithium Ionic Corp. (TSXV: LTH; OTCQX: LTHCF; FSE: H3N)
(“Lithium Ionic” or the “Company ”) reports assay results from the Salinas Lithium Project
(“Salinas”), located approximately 100 kilometres north of its Feasibility-stage Bandeira lithium
project and the Outro Lado lithium deposit in northern Minas Gerais State, Brazil. Nine of the 15
holes reported were drilled at the Noé target , a well -mineralized pegmatite discovered
approximately 1.5 kilometres North of the Salinas mineral resource zones earlier this year.
Salinas Noé Target Highlights:
▪ New high-grade drill intercept highlights of:
o 1.53% Li2O over 15m, incl. 2.31% Li2O over 8m near surface, from 30m
(hole BGDD-24-133)
o 1.15% Li2O over 19m, incl. 1.67% Li2O over 10m near surface, from 38m
(hole BGDD-24-131)
o 1.32% Li2O over 14m, incl. 2.16% Li2O over 7m near surface, from 19.7m
(hole BGDD-24-140)
o 1.44% Li2O over 10.2m (hole BGDD-24-135)
o 1.26% Li2O over 7.5m (hole BGDD-24-129)
o 1.24% Li2O over 7m (hole BGDD-24-130)
o 1.61% Li2O over 5m (hole BGDD-24-142)
▪ Latest results returned higher grades and larger widths than discovery holes
announced February 6, 2024, listed below, underscoring the excellent growth
potential of this mineral zone with planned future drilling.
o 1.63% Li2O over 5.6m (hole BGDD-23-127)
o 1.28% Li2O over 3.6m and 1.54% Li2O over 4.0m (hole BGDD-23-126)
▪ The Noé target, located ~1.5km north of the mineral resource area, was not
included in the NI 43-101 estimate announced on April 4, 2024
▪ Salinas currently hosts a 14.76Mt lithium deposit, or 25% of the Company’s total
global mineral resource estimate of 60.1Mt*
*See press release dated April 12, 2024, for details related to the Bandeira MRE (effective date of January,
10, 2024; QP: Carlos Silva of GE21); See press release dated April 4, 2024 for details related to the Salinas
MRE (effective date of January 4, 2024; QP: Leonardo Soares, P.Geo., M.Sc., of GE21); and the NI 43-101
compliant technical reports related to the Outro Lado deposit titled “Mineral Resource Estimate for Lithium
Ionic, Itinga Project” (effective date of June 24, 2023; authored by Maxime Dupéré, B. Sc., P.Geo. and
Faisal Sayeed, B. Sc., P.Geo).
Blake Hylands, P.Geo., CEO of Lithium Ionic, commented, “These new high-grade results from
the Noé target are very exciting and support GE21's view that this zone could meaningfully
contribute to the mineral growth at Salinas. Interpreted as a northeast extension of the historically
significant ‘Lavra do Zoe’ pegmatite, which has been mined for spodumene intermittently over
several decades, Noé offers a potential path to substantially scale this deposit. With a PEA
already underway for the initial resource announced earlier this month, we are increasingly
confident that Salinas will continue to represent a cornerstone asset in our portfolio.”
Lithium Ionic acquired the Salinas group of properties in early 2023 from Neolit Minerals
Participações Ltda. (“Neolit”; see press release dated March 13, 2023) and began drilling the area
in May 2023. On April 4, 2024, the Company announced an initial NI 43-101 compliant mineral
resource estimate (“MRE”) at Salinas of 14.76Mt based on 122 drill holes (27,030m) drilled
between May and November 2023. GE21, who completed the Salinas MRE, has been engaged
to complete a Preliminary Economic Assessment (“PEA”), which is expected for completion in H2
2024.
While completing the MRE for Salinas, GE21 analyzed the initial drill holes conducted at the Noé
target, which were located outside of the mineral resource area, and identified a strong potential
for Noé to contribute 10-15Mt* in the near -term with additional drilling. The results announced
today support this view, and the Company intends to continue exploration work at Salinas for the
remainder of 2024 to continue to expand and upgrade the mineral resources. An upgraded MRE
for Salinas is expected later this year.
*The potential quantity of the lithium mineralization at the Noé target is conceptual in nature and there has
been insufficient exploration to estimate a Mineral Resource or Reserve and it is uncertain if further
exploration will confirm the target ranges.
Figure 1. Salinas Lithium Project Location & New Drill Intercept Highlights
Figure 2. Core Photos, Holes BGDD-24-131 and BGDD-24-133
Table 1. Salinas Drill Results
Hole ID Az Dip From To Metres Li2O (%)
BGDD-23-128 310 -60 98.05 99.80 1.75 0.49
BGDD-24-129 310 -65 204.60 212.05 7.45 1.26
BGDD-24-130 310 -60 83.20 90.20 7.00 1.24
BGDD-24-131 310 -60 37.95 56.95 19.00 1.15
including 37.95 47.95 10.00 1.67
BGDD-24-132 130 -85 252.00 255.00 3.00 2.16
BGDD-24-133 310 -75 30.27 45.27 15.00 1.53
including 30.27 38.27 8.00 2.31
BGDD-24-134 340 -50 144.80 147.89 3.09 1.01
BGDD-24-135 310 -75 181.88 192.07 10.19 1.44
BGDD-24-136 310 -75 nsr
BGDD-24-137 310 -60 173.55 174.55 1.00 1.29
and 287.47 289.71 2.24 1.19
BGDD-24-139 310 -60 169.53 173.42 3.89 1.24
BGDD-24-140 310 -60 19.70 33.70 14.00 1.32
incl 19.70 26.70 7.00 2.16
BGDD-24-141
310 -60
93.25 95.30 2.05 0.95
and 162.38 164.45 2.07 0.63
and 183.17 189.17 6.00 0.84
and 249.43 253.43 4.00 1.15
BGDD-24-142 130 -70 31.62 36.62 5.00 1.61
BGDD-24-143 310 -70 62.08 64.65 2.57 0.90
and 74.60 75.60 1.00 0.98
*BGDD-24-138 was not sampled.
On behalf of the Board of Directors of Lithium Ionic Corp.
Blake Hylands
Chief Executive Officer, Director
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.
Investor and Media Inquiries:
+1 647.316.2500
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.
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 t erminology
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 Salinas and the Company’s other mineral properties, the economic viability of the Bandeira
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 a n updated NI 43 -101 mineral resource
estimate for Salinas, 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, perfor mance 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 or accuracy of this press
release.