Lithium Ionic Intersects 1.93% LI2O over 5.66M at Itinga Project, Brazil
LITHIUM IONIC INTERSECTS 1.93% LI2O OVER 5.66M
AT ITINGA PROJECT, BRAZIL
TORONTO, ON, May 31, 2022 – Lithium Ionic Corp. (TSXV: LTH) (“Lithium Ionic” or the “Company”) is
pleased to announce assay results for the first two (2) drillholes from the ongoing drill program at its 100%
owned Itinga Lithium Project in Minas Gerais, Brazil. The first phase of drilling is targeted at near surface
mineralization associated with a 1.3 km lithium soil anomaly located directly south of the producing C BL
Lithium mine and north of Sigma Lithium’s Barreiro deposit (20.4Mt grading 1.4% Li2O) (Figure 1).
The first 2 holes were designed to test the depth extension and continuity of high-grade results at Itinga
Project Area 1 where trenching exposed 8.8m grading 1.46% Li2O incl. 5.8m grading 1.82% Li2O (see
press release dated May 24 th, 2022 ). Results from this drilling have successfully proven the down -dip
extension of the mineralized domain below 35 metres from surface and remain open at depth and along
strike. Drilling is underway to continue to delineate extents of the drilling released today, as well as test
additional significant soil anomalies recognized by the C ompany earlier this year (Figures 2 & 3). The
Company will also be continuing exploration and drilling on its other land holdings in the area this year as
it will aim to show considerable growth in the coming months.
Itinga Initial Drilling Results
Hole ITDD-22-002
- 5.66m grading 1.93% Li2O from 33.08m
Hole ITDD-22-001
- 5.2m grading 1.55% Li2O from 8.50m
Blake Hylands, Chief Executive Officer of Lithium Ionic, comments, “The Itinga drilling confirms the surface
sampling and trenching work the team has done across the Company’s land holdings are excellent
indicators for mineralized domains. We feel confident our ongoing drill program will continue to outline a
much broader system and we look forward to presenting more excellent results in the coming weeks.”
Itinga Lithium Project Update
The drilling program currently underway is planned for over 30 ,000m of drilling and aims to outline a
significant resource on the Company’s ground , initially focused on Area 1, located 800 metres south of
the operating CBL Lithium Mine and directly north of Sigma Lithium’s Barreiro deposit. 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: Itinga Project Area 1 location and geology map. Note the surface expression of the CBL mine
in the northeast corner of Project Area 1 and Sigma Barreiro deposit to the southeast.
Granites
Biotite Schist
Project Area 1
Figure 2: Itinga Project Area 1 plan map outlining holes drilled to date and planned. Drill results are
from holes located on the southwest end of the 1.3 km soil anomaly above and along strike from initial
trench results.
Figure 3: Initial drilling results, Itinga Project Area 1. Results show strong zone of spodumene bearing
pegmatite near surface and continuing along strike and at depth. The z one remains open at depth.
Drilling is ongoing to delineate the extent of the mineralization.
About Lithium Ionic Corp.
Lithium Ionic is a publicly -traded company which owns a 100% ownership interest in the Itinga lithium
project in Brazil (the “Itinga Project” or the “Project”).
The Itinga Project is located in Minas Gerais State (MG), Brazil. The Project comprises five mineral licenses
covering more than 1,300 hectares in the prolific Aracuai lithium province. A portion of the Project occurs
immediately south of the CBL lithium mine and plant, Brazil’s only lithium producer, and immediately
north of the large Barreiro an d Xuxa lithium deposits of Sigma Lithium Corp (TSXV: SGML) (NASDAQ:
SGML).
The Project area has excellent infrastructure, including access to hydroelectrical grid power, water, a
commercial port, highways and communities. Lithium mineralization (spodumen e, lepidolite, petalite)
occurs within a halo of pegmatite dikes and apophyses that occur within the rocks surrounding
Neoproterozoic granitic intrusions. Mineralization within the mineralized province and the distribution of
the mineralized pegmatites is controlled by a complex and crosscutting system of northeast and
northwest oriented faults that were exploited by the dikes. Mineralized structures have been identified
in two areas within the Project and the remainder of the Project area remains to be explored.
Itinga Project Area 1 Drill Results:
Hole ID: ITDD-22-001 UTM_E: 189738 UTM_N: 8141713
From To (m) Li (ppm) Li2O (%) Nb (ppm) Sn (ppm) Ta (ppm)
4.10 4.68 0.58 4183 0.90 96 401 154
8.50 9.54 1.04 9097 1.96 138 352 105
9.54 10.58 1.09 10451 2.25 115 161 51
10.58 11.62 1.04 5612 1.21 97 179 32
11.62 12.66 1.04 7092 1.53 137 368 31
12.66 13.70 1.04 3354 0.72 113 172 45
19.00 19.45 0.45 6346 1.37 124 115 140
Hole ID: ITDD-22-002 UTM_E: 189762 UTM_N: 8141767
From To (m) Li (ppm) Li2O (%) Nb (ppm) Sn (ppm) Ta (ppm)
33.08 34.21 1.13 10917 2.35 62 163 25
34.21 35.34 1.13 9654 2.08 95 353 106
35.34 36.47 1.13 7943 1.71 65 137 38
36.47 37.60 1.13 6271 1.35 79 369 33
37.60 38.74 1.14 10142 2.18 134 367 86
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, an independent 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 David Gower, a 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 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 the Project, the mineralization and development of the Itinga Project 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 differe nt 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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accepts responsibility for the adequacy or accuracy of this press release.