Lithium Ionic Announces Maiden Mineral Resource Estimate and Initiation of PEA at its Salinas Project, Minas Gerais, Brazil; Increases Regional Mineral Resources by 45%
TORONTO, April 04, 2024 (GLOBE NEWSWIRE) -- Lithium Ionic Corp. (TSXV: LTH; OTCQX: LTHCF; FSE: H3N) (“Lithium Ionic” or the “Company”), is pleased to announce an initial NI 43-101 compliant Mineral Resource Estimate (“MRE”) for its Salinas Lithium Project (“Salinas” or the “Project”), increasing its global mineral resources by 45%. The Salinas property covers 662 hectares or ~4.5% of Lithium Ionic’s large 14,182-hectare land package within the “Lithium Valley” in Minas Gerais State, Brazil, and represents the third NI 43-101 compliant lithium MRE the Company has established to date. The “Lithium Valley” is a unique geological belt that hosts a significant concentration of lithium-bearing pegmatites, which are among the largest and highest grade in the world. The Company’s properties are located in a district that is quickly emerging as an important global lithium producer.
- Independent Brazilian consultancy, GE21 Consultoria Mineral Ltda , based in Belo Horizonte, Minas Gerais, has been engaged to carry out a PEA based on the Salinas MRE.
- Data from a total of 122 drill holes comprising 3,276 assays were included in the mineral resources model.
- The 3D modelling of lithium Mineral Resources was conducted using a minimum cut-off grade of 0.3% Li2O within a preliminary lithological model.
- The MRE was classified as Measured, Indicated and Inferred Mineral Resource based on data quality, sample spacing, and pegmatite continuity.