Lithium Ionic (TSXV:LTH) has reported new assay results from its ongoing drilling program at the 100%-owned Bandeira property in Brazil. Located approximately 800m south of the lithium-producing CBL mine and roughly 800m north of Sigma Lithium’s Grotado Cirilo property, the Bandeira property is the largest lithium hardrock deposit in the Americas.

Source: Lithium Ionic Corp.

The Bandeira drilling program is focusing on mineralization close to the surface that is connected to a 1.3 km line of multiple lithium soil anomalies. The Company is energetically using five drills and is still on schedule to present a NI 43-101 compliant mineral resource estimate in the beginning of 2023.

Bandeira is situated 800m to the south of the working CBL lithium mine and 800m to the north of Sigma Lithium’s Barreiro project which is in the construction phase. Pegmatite/spodumene deposits with lithium-bearing characteristics in this region known for its mining activity, are known to be of high-grade and high-grade quality, as evidenced by the near-by lithium producer and the published metallurgical results from bordering properties.

Blake Hylands, Chief Executive Officer of Lithium Ionic, commented in a press release: “We are very encouraged by the excellent results coming from Bandeira. The definition of mineralization is improving significantly as we continue to identify new parallel zones of mineralized pegmatites at surface as well as down dip from existing zones.”

Highlights from the results are as follows: 

  • 1.22% Li2O over 9.2m, incl. 1.71% Li2O over 5.7m;
    and 2.46% Li2O over 2m (hole ITDD-22-024)
  • 1.49% Li2O over 6.7m (hole ITDD-22-030)
  • 2.22% Li2O over 3.7m (hole ITDD-22-025)
  • 1.97% Li2O over 3.7m (hole ITDD-22-019)

Previously announced drill highlights from Bandeira include:

  • 1.44% Li2O over 8.33m (hole ITDD-22-012)
  • 1.99% Li2O over 6.75m (hole ITDD-22-011)
  • 1.93% Li2O over 5.66m (hole ITDD-22-002)
  • 1.55% Li2O over 5.2m (hole ITDD-22-001)
  • 1.56% Li2O over 3.90m and 1.66 Li2O over 2.76 (hole ITDD-22-013)
Source: Lithium Ionic Corp.

Table 1. Bandeira Drill Results

Hole ID Az Dip From To Metres Li2O (%)
ITDD-22-017 150 -65 62.21 67.15 4.94 1.06
incl.     64.21 67.15 2.94 1.29
ITDD-22-018 150 -65 NSV
ITDD-22-019 150 -65 29.83 33.57 3.74 1.97
ITDD-22-020 150 -65 19.65 20.65 1.00 0.68
ITDD-22-021 150 -65 31.90 34.73 2.83 1.29
ITDD-22-022 150 -65 13.31 18.31 5.00 0.50
incl.     14.31 16.31 2.00 0.70
ITDD-22-023 150 -65   Assays Pending 
ITDD-22-024 150 -65 28.14 37.35 9.21 1.22
incl.     28.14 33.86 5.72 1.71
and     159.72 161.72 2.00 2.46
ITDD-22-025 150 -65 67.62 71.31 3.69 2.22
ITDD-22-026 150 -65 12.73 14.72 1.99 0.49
ITDD-22-027 150 -65 21.21 29.09 7.88 0.45
ITDD-22-028 150 -65 38.64 40.25 1.61 1.95
and     51.39 53.39 2.00 0.67
ITDD-22-029 150 -65 41.46 46.93 5.47 0.88
incl.     44.28 46.93 2.65 1.29
and     145.91 149.08 3.17 1.21
ITDD-22-030 150 -65 46.60 53.30 6.70 1.49
Source: Lithium Ionic Corp.

 

 

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

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