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Lithium Ionic Corp. (TSXV: LTH; OTCQX: LTHCF; FSE: H3N) has announced an increase in its mineral rights ownership in the Salinas project from 40% to 85%. This significant increase is due to the successful fulfillment of exploration commitments, including R$21.3 million (~CAD$5.75 million) spent on exploration activities.
Blake Hylands, CEO of Lithium Ionic, views this increased ownership as a crucial milestone in the company’s growth strategy. He emphasizes the company’s commitment to unlocking value through the advancement of this key asset.
Acquisition and Exploration
Lithium Ionic took control of the Salinas project in March 2023 by acquiring Neolit Minerals. The project covers nine exploration tenements totaling 5,713 hectares within the Salinas region, part of the lithium-rich Araçuaí Pegmatite District. The company has been actively drilling at the Salinas Project since May 2023.
About Lithium Ionic Corp.
Lithium Ionic is a Canadian mining company exploring and developing 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 emerging as a world-class hard-rock lithium district.
This press release contains forward-looking statements. These statements involve known and unknown risks, uncertainties, and other factors that may cause the Company’s actual results, performance, or achievements to differ materially from those anticipated. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates, or opinions, or other factors, should change.
Company Website: https://lithiumionic.com
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