Lithium Ionic Corp. [TSXV-LTH; OTCQX-LTHCF; FSE-H3N] reported results from the continuing drilling program at the Salinas lithium project, located approximately 100 km north of its Itinga group of properties, which host the feasibility-stage Bandeira lithium project and the Outro Lado lithium deposit. The Company’s landholdings of 14,182 hectares are situated within the lithium-rich Aracuai Pegmatite District, also known as the “Lithium Valley”, in northern Minas Gerais State, Brazil, where two lithium producers currently operate.
The company is working towards establishing an initial NI 43-101 resource estimate at Salinas in 2024. With four drill rigs currently operating, the team is focused on continuing to test and delineate multiple outcropping spodumene-rich pegmatite bodies. Approximately 24,000 metres (99 holes) have been completed at Salinas since drilling began in May 2023.
Salinas Drill Intercept Highlights: 1.13% Li2O over 27.6m, including 1.34% Li2O over 9 metres representing a new record high intercept at Salinas from a grade X width perspective at one of the most scarcely drilled targets on the property (hole BGDD-23-109); 1.60% Li2O over 11.9 metres, including 2.00% Li2O over 8 metres near surface, from 63m (hole BGDD-23-097); 1.45% Li2O over 9.8 metres near surface, from 28.7 metres (hole BGDD-23-079); 1.34% Li2O over 10 metres from 85 metres (hole BGDD-23-092) and 1.35% Li2O over 9 metres (hole BGDD-23-088).
Blake Hylands, P.Geo., CEO, commented, “The latest drill results from Salinas, particularly our new record intercept, not only strengthens our confidence but also highlights the substantial potential of this developing asset. As we steadily progress towards an initial resource estimate on this property, it’s becoming increasingly clear that Salinas could emerge as a significant contributor to both the size and scale of the overall lithium resources we are delineating in this belt.”
Lithium Ionic acquired the Salinas group of properties in early 2023 from Neolit Minerals Participacoes Ltda. and began selectively drilling the area in May 2023, following up on a 4,000-metre, 24-hole, drill program completed by the previous owner which yielded excellent results, including highlights of 1.53% Li2O over 11.4 metres, 1.22% Li2O over 13.8 metres, 1.71% Li2O over 9.8 metres and 1.19% Li2O over 13.4 metres. On July 25, 2023, the company reported initial results from its drilling program at Salinas, including highlights of 1.38% Li2O over 16 metres, 1.60% Li2O over 12 metres, 1.55% Li2O over 9 metres 1.26% Li2O over 11 metres and 1.34% Li2O over 10 metres.
Lithium Ionic is a Canadian mining company exploring and developing its lithium properties in Brazil. Its Itinga and Salinas group of properties 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. Its Feasibility-stage Bandeira 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’s Grota do Cirilo project, which hosts the largest hard-rock lithium deposit in the Americas.
