TORONTO, July 25, 2023 (GLOBE NEWSWIRE) — Lithium Ionic Corp. (TSXV: LTH; OTCQB: LTHCF; FSE: H3N) (“Lithium Ionic” or the “Company”) reports initial results from a planned 20,000-metre drill program at the Salinas Lithium Project (“Salinas”). Drilling commenced in May 2023, following the acquisition of Salinas in March (see press release dated March 13, 2023).

Salinas is located approximately 100 kilometres north of its Itinga Lithium Project (Bandeira and Outro Lado lithium deposits), within the lithium-rich Araçuaí Pegmatite District in the northern region of Minas Gerais State, Brazil (see Figure 1). 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 16m intersected near surface from 40.4m represents the strongest intercept to date at Salinas from a grade X width perspective (hole BGDD-23-032)
• 1.60% Li2O over 12m from 68.2m (hole BGDD-23-025)
• 1.55% Li2O over 9m from 129m (hole BGDD-23-027)
• 1.26% Li2O over 11m from 63m (hole BGDD-23-029)
• 1.34% Li2O over 10m from 94m (hole BGDD-23-030)

Blake Hylands, P.Geo., Chief Executive Officer 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.”

Source: https://finance.yahoo.com/news/lithium-ionic-reports-initial-drill-110000603.html