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ION Energy Limited (TSXV: ION) (OTCQB: IONGF) (FSE: ZA4) has announced an update on the Victory Nickel Project in Mongolia. This follows the exploration joint venture with Aranjin Resources Ltd. (TSXV: ARJN) in February 2022.
Ali Haji, CEO & Director of ION Energy, expressed satisfaction with the formalization of their agreement with Aranjin. This agreement allows Aranjin to begin unearthing value from the Victory Nickel deposit, while ION retains a 20% carried interest in the project and all Lithium rights.
Victory Nickel Project – Mongolia
ION Energy has formalized its 20% ownership interest in the Victory Nickel Project. The Joint Venture arrangement allows reciprocal exploration rights on their respective exploration licences within Mongolia. Both ION and Aranjin have the right to explore each other’s properties, with Aranjin earning an 80% interest and ION earning a 20% interest in all base metal projects discovered on ION’s properties.
About ION Energy Ltd.
ION Energy Ltd. is committed to exploring and developing high-quality lithium resources in strategic jurisdictions. ION’s flagship, the 81,000+ hectare Baavhai Uul lithium brine project, represents the largest and first lithium brine exploration licence award in Mongolia. ION is well-positioned to be a key player in the clean energy revolution, meeting the world’s increased demand for lithium.
Company Website: https://www.ionaenergy.com
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