Exploration Commenced at Baavhai Uul
Exploration Commenced at Baavhai Uul
TORONTO, June 9, 2021 / CNW / – ION Energy Limited (TSXV: ION) (OTCQB: IONGF) (FRA:
5YB) (“ION” or the “Company”) is very pleased to announce that exploration has commenced at
the Company’s 100% owned Baavhai Uul Lithium Salar Project in South Eastern Mongolia.
Highlights
Exploration camp built with twelve personnel on site;
Drilling rig on site and core drilling has commenced;
Truck mounted auger drilling expected on site within weeks;
The Company now holds licences on over 110,000Ha;
Fully funded exploration commenced on one of the worlds largest lithium salar
holdings and where no modern exploration has ever been completed
“Mongolia as a nation has shown prudence with respect to managing the Pandemic and
we are pleased to announce that our staff have all received two shots of the vaccine, built
the exploration camp and the drill is now turning at Baavhai Uul, our flagship asset” said
Ali Haji, CEO of ION Energy Ltd.
Expanded Exploration
Further to the announcement in May, The Company has begun the expanded exploration program
to fast track the exploration of its Lithium Salar Projects in Mongolia. Drilling has commenced on
at least 21 drill holes through the highlighted prospective basins. Sampling of sediments and
aquifers will be completed during the drilling phase. The first drilling ever completed on Lithium
Salars in Mongolia has commenced.
Figure 1. Baavhai Uul BU-01 hole drilling.
Figure 2. Exploration Camp at Baavhai Uul.
Figure. BU-01 drilling.
Figure. Exploration Camp at Baavhui Uul.
The technical information disclosed in this news release has been reviewed and approved
by Don Hains, P. Geo., a Qualified Person (QP) as defined in NI 43-101.
About ION Energy Ltd.
ION Energy Ltd. (TSXV: ION) (OTCQB: IONGF) (FRA: 5YB) is committed to exploring
and developing Mongolia’s lithium salars. ION’s flagship, 81,000+ hectare Baavhai Uul
lithium brine project, represents the largest and first lithium brine exploration licence
award in Mongolia. ION also holds the 29,000+ hectare Urgakh Naran highly
prospective Lithium Brine licence in Dorngovi Province in Mongolia. ION is well-poised
to be a key player in the clean energy revolution, positioned well to service the world’s
increased demand for lithium. Information about the Company is available on its
website, www.ionenergy.ca, or under its profile on SEDAR at www.sedar.com.
For further information:
COMPANY CONTACT: Ali Haji, [email protected], 647-871-4571
MEDIA CONTACT: Siloni Waraich, [email protected], 416-432-4920
Cautionary Note Regarding Forward-Looking Information
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this news release.
Information set forth in this news release contains forward-looking statements. Forward-
looking statements include estimates and statements that describe the Company’s
future plans, objectives or goals, including words to the effect that the Company or
management expects a stated condition or result to occur. Forward-looking statements
may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”,
“may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on
assumptions and address future events and conditions, by their very nature they involve
inherent risks and uncertainties. Although these statements are based on information
currently available to the Company, the Company provides no assurance that actual
results will meet management’s expectations. Risks, uncertainties and other factors
involved with forward-looking information could cause actual events, results,
performance, prospects and opportunities to differ materially from those expressed or
implied by such forward-looking information. Forward looking information in this news
release includes, but is not limited to, the Company’s objectives, goals or future plans,
statements, potential mineralization, exploration and development results, the
estimation of mineral resources, exploration and mine development plans, timing of the
commencement of operations and estimates of market conditions. Important factors that
could cause actual results to differ materially from Ion Energy’s expectations include,
among others, uncertainties relating to availability and costs of financing needed in the
future, changes in equity markets, risks related to international operations, the actual
results of current exploration activities, delays in the development of projects,
conclusions of economic evaluations and changes in project parameters as plans
continue to be refined as well as future prices of lithium, and ability to predict or
counteract potential impact of COVID-19 coronavirus on factors relevant to the
Company’s business. There can be no assurance that forward-looking statements will
prove to be accurate and actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers should not place undue
reliance on forward-looking statements.