Lithium Ionic reports initial drill results from the Salinas Project; intersects 1.38% Li2O over 16m and 1.60% Li2O over 12m, Minas Gerais, Brazil
Lithium Ionic reports initial drill results from the Salinas Project; intersects
1.38% Li2O over 16m and 1.60% Li2O over 12m, Minas Gerais, Brazil
TORONTO, ON, July 25, 2023 – Lithium Ionic Corp. (TSXV: LTH; OTCQB: LTHCF; FSE: H3N)
(“Lithium Ionic” or the “Company”) reports initial results from a planned 20,000-metre drill program
at the Salinas Lithium Project (“Salinas”) . Drilling co mmenced in May 2023 , following the
acquisition of Salinas in March (see press release dated March 13, 2023).
Salinas is located approximately 100 kilometres north of its Itinga Lithium Project (Bandeira and
Outro Lado lithium deposits) , within the lithium-rich Araçuaí Pegmatite District in the northern
region of Minas Gerais State, Brazil (see Figure 1). The Company is currently drilling to test and
delineate multiple outcropping spodumene-rich pegmatite bodies identified by surface sampling
and drilling in 2022 by the vendor. The Salinas mineralized pegmatite veins extend directly east
of Latin Resources’ Colina lithium deposit , which is reported to contain 45.2Mt grading 1.34%
Li2O.
Salinas Drill Intercept Highlights:
▪ 1.38% Li2O over 16m intersected near surface from 40.4m represents the
strongest intercept to date at Salinas from a grade X width perspective
(hole BGDD-23-032)
▪ 1.60% Li2O over 12m from 68.2m (hole BGDD-23-025)
▪ 1.55% Li2O over 9m from 129m (hole BGDD-23-027)
▪ 1.26% Li2O over 11m from 63m (hole BGDD-23-029)
▪ 1.34% Li2O over 10m from 94m (hole BGDD-23-030)
Blake Hylands, P.Geo., Chief Executive Officer of Lithium Ionic, commented, “The initial results
from Salinas confirm continuity of lithium mineralization with good grades and widths between the
wide spaced drill holes completed in 2022 by the previous owner. These results, along with the
significant growth seen at the Colina deposit only 500 metres west of our drilling site, as well as
numerous historical artisanal workings that span decades of activity to the east, provide a strong
indication of the potential for Salinas to quickly develop into an important part of our growing
portfolio of lithium deposits.”
In 2022, the previous owner of the Salinas properties, Neolit Minerals Participações Ltda.
(“Neolit”), c ompleted a 4,000 -metre, 24 -hole, drill program 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. Since acquiring Salinas in March 2023 from Neolit, Lithium Ionic
has completed soil geochemistry on select areas of the property, collecting a total of ~770
samples, to help identify priority drill targets.
The 20,000 -metre drill program at Salinas forms part of a larger 50,000 metre drill program
underway for H2 2023, targeting the Company’s other high priority growth targets at the Itinga
Lithium Project, the Bandeira and Outro Lado lithium deposits (NI 43 -101 mineral resource
estimate of 7.57Mt grading 1.40% Li2O of M&I and 11.86Mt grading 1.44% Li2O of Inferred
resources), as well as the adjacent Itira target. Lithium Ionic presently has thirteen drills operating
at four different deposit areas.
Figure 1. Salinas Lithium Project Location & Drill Intercept Highlights
Table 1. Salinas Drill Results
Hole ID Az Dip From To Metres Li2O (%)
BGDD-23-025 310 -60 68.22 80.22 12 1.60
BGDD-23-026 310 -72 nsv
BGDD-23-027 310 -87 117.93 122.93 5 0.78
and 128.93 137.93 9 1.55
BGDD-23-028 0 -90 nsv
BGDD-23-029 310 -61 62.94 73.94 11 1.26
BGDD-23-030 310 -65 94.16 104.16 10 1.34
BGDD-23-031 0 -90 162.02 165.02 3 0.74
BGDD-23-032 310 -60 40.38 56.38 16 1.38
About Lithium Ionic Corp.
Lithium Ionic is a Canadian mining company exploring and developing its lithium properties in
Brazil. Its flagship Itinga and Salinas projects 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. The Itinga 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 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.
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:
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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
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officers and directors, current conditions and expected future developments and other factors that
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of the Company’s mineral properties, including Salinas, the mineralization and development of
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