- ION Energy Limited (ION) announced the results of a survey indicative of a significant lithium brine aquifer on its Urgakh Naran Project
- The survey validates high conductivity and low resistivity seen at previous lines
- The company plans to drill the area to test porosity, flow rates, and aquifer specifics
- A technical expert will perform a site review for the project next month
- Ion Energy is focused on the exploration and development of lithium
- ION Energy Limited (ION) is up 16.00 per cent trading at $0.29 per share as of 3:19 p.m. ET
ION Energy Limited (ION) announced the results of an electromagnetic survey line on its Urgakh Naran Project in Mongolia.
The survey indicated a significant lithium brine aquifer.
The company plans to drill the area to test porosity, flow rates, and aquifer specifics and has already begun the work. Also, a technical expert will perform a site review next month.
“An exciting milestone for the company that validates the results of the previously announced [survey] results as well as provide the company with a means to calculate the brine body on the basis of the low resistivity zone, bringing us one step closer to providing a resource estimate on a market altering deposit at Urgakh Naran,” said Ali Haji, CEO and Director of ION Energy, said.
According to ION, the survey validates the high conductivity and low resistivity seen across the previously announced lines across the basin, also validating extensions, faults, and displacements affecting the Urgakh Naran aquifer.
The three-hole monitoring well drill program will allow ION to obtain various samples and depth-specific measurements, including chemical assays that will go towards a mineral resource estimate due during its fourth fiscal quarter.
In other news, ION completed an auger program across the vast Baavhai Uul licence, alongside the lithium seen at the White Wolf Prospect, discovered strong copper-nickel anomalies, further solidifying the value of the company’s agreement signed with Aranjin Resources Ltd.
Ion Energy Ltd 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 Limited (ION) is up 16.00 per cent trading at $0.29 per share as of 3:19 p.m. ET.