Lithium Ionic Corp. [LITH-TSXV; LTHCF-OTCQB; H3N-FSE] reported initial results from a planned 20,000-metre drill program at the Salinas lithium project. Drilling commenced in May 2023, following the acquisition of Salinas in March.
Salinas is located approximately 100 km north of its Itinga Lithium Project (Bandeira and Outro Lado lithium deposits), within the lithium-rich Aracuai Pegmatite District in the northern region of Minas Gerais State, Brazil. 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 16 metres intersected near surface from 40.4 metres represents the strongest intercept to date at Salinas from a grade X width perspective (hole BGDD-23-032); 1.60% Li2O over 12 metres from 68.2 metres (hole BGDD-23-025); 1.55% Li2O over 9 metres from 129 metres (hole BGDD-23-027); 1.26% Li2O over 11 metres from 63 metres (hole BGDD-23-029); and 1.34% Li2O over 10 metres from 94 metres (hole BGDD-23-030).
Blake Hylands, P.Geo., CEO 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 Participacoes Ltda., completed a 4,000-metre, 24-hole, drill program 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. 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.
Lithium Ionic is 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’s Grota do Cirilo project, which hosts the largest hard-rock lithium deposit in the Americas.
