Lithium Ionic Intersects 1.94% Li2O over 19.78m, incl. 2.33% Li2O over 7.35m at the Galvani Target in Brazil
Lithium Ionic Intersects 1.94% Li2O over 19.78m, incl. 2.33% Li2O over 7.35m at
the Galvani Target in Brazil
TORONTO, ON, August 30, 2022 – Lithium Ionic Corp. (TSXV: LTH; OTCQB: LTHCF) (“Lithium
Ionic” or the “Company”) reports additional excellent drilling results from the Galvani claims, on
which it is currently conducting a due diligence review following the recently announced binding
asset purchase agreement (see press releases dated June 14 and June 28, 2022). The Galvani
claims, as well as the Company’s neighbouring 100%-owned Itinga Lithium Project (Areas 1- 5)
are located in the state of Minas Gerais, Brazil, in the same district as the lithium producing CBL
mine and Sigma Lithium’s Barreiro deposit (20.4Mt grading 1.4% Li2O) (see Figure 1, location
map).
New Galvani Drill Results Highlights (See Figure 2)
▪ Drill intercept of 1.94% Li2O over 19.78m, incl. 2.33% Li2O over 7.35m (ARDD-22-007)
▪ Drill intercept of 1.27% Li2O over 10.77m, incl. 1.72% Li2O over 2m and 1.70% Li2O over
3.53m (ARDD-22-008)
Previously Reported Drill Result Highlights from Galvani Target
▪ Drill intercept of 1.57% Li2O over 24.93m, incl. 2.10% Li2O over 7.45m (July 26, 2022)
▪ Drill intercept of 1.17% Li2O over 42.05m, incl. 1.95% Li2O over 11.72m (August 9, 2022)
Blake Hylands, Chief Executive Officer of Lithium Ionic, commented, “The latest drill results at the
Outro Lado showing at the Galvani claims are very encouraging and further demonstrates the
potential for us to define a significant deposit in this area. We continue to improve our
understanding of the geology and mineralization controls , which will enable us to define new
targets.”
Galvani Claims Due Diligence Update – Excellent Initial Exploration Results
The Company is currently undertaking an extensive drill program as well as trenching on and in
proximity to a ~0.7km strike pegmatite on the Galvani claims, as part of its 90-day due diligence
review following the purchase agreement announced on June 14, 2022 (see Figures 2 and 3) .
The exploration program was designed to confirm historic drilling and determine the str uctural
controls of the mineralized pegmatites, including its orientation with up and down dip testing.
The excellent drill results reported today as well as the previously reported results drilled since
the mid-June are consistent with some of the significant historic drill results which cover a roughly
one-kilometre trend including 1.62% Li2O over 20.25m and 1.78% Li2O over 12m.
The Galvani property is located less than 4 kilometres from Sigma Lithium ’s Xuxa deposit (over
17Mt grading 1.55% Li2O M+I). The high grade and large widths of the intercepts to date
demonstrate excellent potential to outline a significant resource very quickly. Mineralization is
hosted in spodumene bearing pegmatites, likely sourced from the same granitic intrusive, which
characterizes Lithium Ionic’s Project Area 1, CBL’s lithium mining operation, and Sigma Lithium’s
resources (Figure 2).
Figure 1: Itinga Project (Areas 1-5) and Galvani Claims location and geology map. Note the
surface expression of the CBL lithium mine in the northeast corner of Project Area 1 and Sigma
Lithium’s Barreiro deposit to the southeast.
Figure 2: Galvani Pegmatite and Drill Hole Locations
Table 1. Initial Drill Results from Galvani
From To Metres Li2O (%) Nb (ppm) Sn (ppm) Ta (ppm)
ARDD-22-007
63.94 83.72 19.78 1.94 20.00 89.00 16.00
incl. 73.20 80.55 7.35 2.33 36.00 103.00 17.00
ARDD-22-008
80.43 91.20 10.77 1.27 58.57 98.36 31.89
incl. 82.43 84.43 2.00 1.72 78.50 68.00 31.50
incl. 87.67 91.20 3.53 1.70 44.92 116.01 21.29
ARDD-22-010
128.70 133.31 4.61 1.27 47.00 61.00 33.00
About Lithium Ionic Corp.
Lithium Ionic owns a 100% ownership interest in the Itinga lithium project in Brazil (the “ Itinga
Project” or the “Project”), 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 and 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 (spodumene,
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 t he remainder of
the Project area remains to be explored.
Quality Assurance and Control
During the drill program, assay samples were taken from NQ /HQ 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, spray ing 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 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 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 Project and the Galvani claims , 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 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
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.
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.