Lithium Ionic Corp. [TSXV: LTH; OTCQB: LTHCF; FSE: H3N] reported an updated NI 43-101 Mineral Resource Estimate (MRE) for the Baixa Grande Project, formerly referred to as the Salinas Project, the main deposit and growth target within its Salinas group of properties located in northern Minas Gerais State, Brazil.
Baixa Grande Mineral Resource Estimate (MRE) Highlights: 6.52 million tonnes in the Measured and Indicated (M&I) category, and an additional 12.90Mt in the Inferred category.
Since the maiden MRE at Baixa Grande announced in April 2024, M&I has increased 11.3%, while Inferred has increased 45%, showcasing the effectiveness of our exploration approach and the strong potential for further growth in the future.
The MRE incorporates data from 35,734 metres of drilling (167 diamond drill holes). This additional drilling led to a 32% growth in the total MRE, showcasing the team’s strong geological understanding and exceptional success through targeted drilling efforts.
In August 2024, Pilbara Minerals announced the acquisition of Latin Resources and their Colina deposit, located directly west of the Baixa Grande deposit in an all-share transaction valued at US$369.4 million.
The potential for significant additional lithium-bearing spodumene mineralization at Baixa Grande remains very high with the completion of additional drilling in the area.
Blake Hylands, P.Geo., CEO, commented, “This updated mineral resource estimate for Baixa Grande is a testament to the remarkable work of our exploration team in successfully delineating and expanding the deposit with targeted and efficient drilling. Baixa Grande is proving to be a key contributor to our long-term growth and production strategy. I am confident in our team’s ability to further enhance and upgrade these resources and continue to reinforce the importance of the Salinas group of properties within our portfolio. While our near-term focus remains on advancing Bandeira toward production, we are excited by the continued growth potential at Baixa Grande and other regional targets, and their role in supporting our vision of becoming a leading lithium producer.”
Carlos Costa, P.Geo., VP Exploration, commented, “This updated NI 43-101 mineral resource estimate highlights the outstanding achievements of our exploration team and the quality of our assets. The nearly 20Mt resource at Baixa Grande reflects not only the geological potential of the deposit but also the expertise of our technical team in unlocking value efficiently.”
The Baixa Grande target, located within the Salinas group of properties acquired in March 2023, has quickly become one of the most promising growth assets in the Company’s portfolio. These properties are located approximately 100 km north of the company’s Bandeira development project, within the northern section of Brazil’s Eastern Pegmatite Province, a region that is highly prospective for spodumene-bearing pegmatites. The nearly 20Mt mineral resource at Baixa Grande is an important addition to the Company’s total resources, which further solidifies its position as a leading lithium company in the region.
The Baixa Grande MRE is located on a 662-hectare property, a small portion of Lithium Ionic’s large 17,000-hectare land package.
This updated estimate builds upon the maiden MRE announced on April 4, 2024, incorporating expanded data from 167 diamond drill holes comprising 35,734 metres of drilling completed between May 2023 and September 2024.
This added drilling has increased the total mineral resource estimate at Baixa Grande by 32%, now totaling an estimated 6.52Mt grading 1.11% Li₂O, containing 179,580 tonnes of Lithium Carbonate Equivalent (LCE), in the M&I category, in addition to 11.67Mt grading 0.97% Li₂O, or 280,730 tonnes of LCE, in the Inferred category for open pit and 1.23Mt grading 0.83% Li₂O, or 25,190 tonnes of LCE, in the Inferred category for underground.
Additional drilling at the Noé target, identified previously as having high potential for spodumene mineralization, yielded an initial Inferred resource estimate. Current interpretation suggests that the modelled pegmatites potentially increase at depth. Additional drilling is planned to confirm these observations.
Exploration efforts to date have laid a strong foundation for Baixa Grande’s future development. The deposit remains open at depth and along strike, providing significant potential for further resource growth.
Lithium Ionic is a Canadian mining company exploring and developing its lithium properties in Brazil. Its Itinga and Salinas group of properties cover ~17,000 hectares in the northeastern part of Minas Gerais state.
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 Corp.’s Grota do Cirilo project, which hosts the largest hard-rock lithium deposit in the Americas.
