ION Energy Receives Highly Encouraging Geophysics Results from Urgakh Naran Lithium Brine Project
ION Energy Receives Highly Encouraging
Geophysics Results from Urgakh Naran
Lithium Brine Project
Toronto, Ontario--(Newsfile Corp. - July 11, 2022) - ION Energy Limited (TSXV: ION) (OTCQB: IONGF)
(FSE: 5YB) ("
ION
" or the "
Company
") is very pleased to announce the results of a TEM (Transient
Electro Magnetic) survey on its Urgakh Naran project. The TEM survey detects high conductivity and low
resistivity across the basin, and to predict extensions, faults, and displacements affecting the aquifer.
The program was highly successful in meeting all objectives.
"
The Company is extremely pleased to report TEM results that suggest that the Urgakh Naran
project's aquifer is large in size and shows low resistivity. On the back of at surface samples of 918
Mg/L Lithium as announced by the Company on May 9, 2022, these geophysics results further
advance the hypothesis of a potential significant lithium brine deposit at the Company's Urgakh
Naran site,
" said Ali Haji, CEO & Director of ION Energy.
Summary
ION Energy has successfully completed an 82 line-km TEM survey on its Urgakh Naran project in
Mongolia.
The survey identified very low resistivity northeast structures narrowing from the southwest to the
northeast direction in the central licence.
Figure 1: Low Resistivity Zone Illustrated Against Resistivity Sections
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/6906/130471_fe763eb0c4360a8f_002full.jpg
.
ION Energy is currently assessing the data to determine suitable drill monitoring well locations to test the
conductive zone at depth. A three hole monitoring well drill program is planned that will be announced to
market in order to obtain samples for lithological description and porosity testing, flow rates and depth-
specific brine samples that include chemical assays to allow the Company to achieve an early resource
estimate. Figure 1 illustrates the highly conductive zone on the resistivity sections.
Survey Results
All lines show resistivity beginning at a highly encouraging 0.2 Ohm, with a maximum resistivity of 500
Ohm, drawing similarities to assets in the Lithium Triangle.
Going Forward
ION Energy is highly encouraged by the results of the TEM survey. Surface brine sampling at 918 Mg/L
Li at Urgakh Naran along with the 1502 ppm Li seen at the White Wolf Prospect at
Baavhai Uul continue
to display high prospectivity. The TEM results, geophysics at Baavhai Uul have confirmed the potential
for the development of a potentially large, deep highly conductive zone in the central part of the Urgakh
Naran concession supporting the geological exploration model and thesis developed by the company.
All technical information disclosed in this press release has been reviewed and approved by
Khurelbaatar Lamzav, P.Geo., an independent consultant to the Company and a "Qualified Person"
under National Instrument 43-101.
About ION Energy Ltd.
ION Energy Ltd. (TSXV: ION) (OTCQB: IONGF) (FSE: 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,
, 647-871-4571
MEDIA CONTACT: Siloni Waraich,
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.
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