- ION Energy Ltd. (ION) has resumed water well drilling at its Urgakh Naran Project in Mongolia
- Three water wells on site drilled to a total of 682 metres
- Previous results on the drilling of three lithological diamond core drill holes went to a total depth of 954 metres
- ION Energy (ION) is down 7.41 per cent, trading at $0.25 per share as of 9:45 a.m. ET
ION Energy Ltd. (ION) has resumed water well drilling at its Urgakh Naran Project in Mongolia.
Three water wells on site drilled to a total of 682 metres.
Highlights:
- UNWH-01 drilled to 300 metres
- UNWH-02 drilled to 300 metres
- UNWH-03 currently at 82 metres
Previous results on the drilling of three lithological diamond core drill holes went to a total depth of 954 metres. Notable two-metre drill core results Include:
- UNDH-01: 123 metres at 278ppm lithium from 122 metres, with maximum lithium reported at 832ppm over 2 metres
- UNDH-02: 100 metres at 362ppm lithium from 65 metres, with maximum lithium at 601ppm over 2 metres
- UNDH-03: 71.4 metres at 360ppm lithium from 3.6 metres with maximum lithium at 911ppm over 2 metres
ION Energy’s CEO and Director, Ali Haji said that having reported strong results from the lithological holes, the company can share that they are completing the third water well at the highly encouraging Urgakh Naran project.
“Until recently, ION’s team had anticipated not being able to return to the site and resume this phase of our drilling program until much warmer weather, later in March. We’re excited to already be in possession of the equipment necessary for bailer sampling, pump testing and hydrogeological testing to advance the inferred resource calculations at Urgakh Naran. Work on sampling will commence in the coming weeks.”
The company has also completed a non-brokered private placement for aggregate gross proceeds of $40,000. The offering consisted of the sale of 100,000 common shares at $0.40 per share.
Ion Energy Ltd. (ION) is focused on the exploration and development of lithium. The company is focused on the Baavhai Uul Lithium Brine and Urgakh Naran Lithium Brine Project in Mongolia.
ION Energy (ION) is down 7.41 per cent, trading at $0.25 per share as of 9:45 a.m. ET.
