Lithium Ionic Corp. [LTH-TSXV; LTHCF-OTCQX] reported additional excellent drilling results from the Galvani claims, which the company recently acquired following a thorough due diligence review. The Galvani claims, as well as its neighbouring 100%-owned Itinga Lithium Project (Areas 1-5) are located in the state of Minas Gerais, Brazil, in the same district as the lithium producing CBL mine and Sigma Lithium’s Barreiro deposit (20.4Mt grading 1.4% Li2O).
New Galvani drill results highlights include drill intercept of 1.68% Li2O over 20.7 metres, including 2.22% Li2O over 8.63 metres (ARDD-22-009). ARDD-22-013 returned 1.77% Li2O over 10.85 metres. ARDD-22-014 returned 1.30% Li2O over 38.5 metres.
Previously reported drill result highlights from Galvani claims included drill intercept that returned 1.94% Li2O over 19.78 metres, including 2.33% Li2O over 7.35 metres, 1.27% Li2O over 10.77 metres, including 1.70% Li2O over 3.53 metes, 1.57% Li2O over 24.93 metres, including 2.10% Li2O over 7.45 metres, and 1.17% Li2O over 42.05 metres, including 1.95% Li2O over 11.72 metres.
Blake Hylands, CEO, commented, “We are very encouraged to continue intersecting shallow and high-grade lithium zones within our now acquired Galvani claims and we look forward to conducting further exploration to improve our understanding of the structural controls of mineralization in this area with the belief that we will be able to define a meaningful resource in the near-term.”
Subsequent to the completed acquisition of the Galvani claims announced on September 12, 2022, the company will be expanding upon the drill program it initiated in June 2022. As part of its due diligence review, Lithium Ionic successfully confirmed historic drilling results and also identified new zones of mineralization beyond the ~0.7-km strike pegmatite with strong lithium values over significant widths. The company has engaged Foraco International, a prominent global drilling company with extensive experience working with other local lithium companies in the region, who has recently mobilized two additional drill rigs on its properties to ramp up drilling efforts. The company is now aggressively drilling with a total of five drill rigs.
The Galvani property is located less than 4 km from Sigma Lithium’s Xuxa deposit (over 17Mt grading 1.55% Li2O M+I). The high grade and large widths of the intercepts to date demonstrate excellent potential to outline a significant resource very quickly. Mineralization is hosted in spodumene bearing pegmatites sourced from the same granitic intrusive, which characterizes Lithium Ionic’s Project Area 1, CBL’s lithium mining operation, and Sigma Lithium’s resources.
Lithium Ionic is a Canadian-based lithium-focused mining company with properties covering ~2,000 hectares in the prolific Aracuai lithium province in Minas Gerais State, Brazil, which boasts excellent infrastructure, including highways, access to hydroelectrical grid power, water, and nearby commercial ports. Its Itinga and Galvani claims are located in the same district as the lithium-producing CBL mine and development-stage Sigma Lithium Corp.’s large Barreiro and Xuxa lithium deposits.