Lithium Ionic Corp. - CEO, Blake Hylands.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Lithium Ionic Corp. (LTH) has received strong results from initial drilling on the Galvani claims and the neighbouring Itinga Project in Brazil.
  • High-grade lithium results are consistent with significant historic drill results
  • Intercepts found so far demonstrate excellent potential to outline a significant resource
  • The Itinga Project also intercepted high grades of lithium in the Area 1 drill location
  • New results confirm the company’s suspicions for down dip extensions of surface soil anomalies
  • Lithium Ionic Corp. (LTH) is up 7.37 per cent trading at $1.02 per share as of 4:04 p.m. ET

Lithium Ionic Corp. (LTH) has received strong results from initial drilling on the Galvani claims and the neighbouring Itinga Project in Brazil.

High-grade lithium results were reported which are consistent with some of the significant historic drill results covering a one-kilometre area.

“The Outro Lado showing at the Galvani Project Area has shown extremely interesting surface results from historic channels and drilling, and we have now been able to step back from known drill holes and show even better grades and widths than what had initially drawn us to potentially acquire the area,” Blake Hylands, CEO of Lithium Ionic, said.

The company stated it is working on a 900-metre drill and trenching program on the Galvani claims related to a recent purchase agreement condition.

Lithium Ionic believes the high-grade and large widths found so far demonstrate excellent potential to outline a significant resource in a timely manner.

The Itinga Project also intercepted high grades of lithium in the Area 1 drill location.

Lithium Ionic shared it is working on a 30,000-metre drilling program on the project to outline a significant lithium mineral resource estimate.

The first phase of drilling is targeting near-surface mineralization in Area 1, associated with a lithium soil anomaly south of the producing CBL Lithium mine and north of Sigma Lithium’s Barreiro deposit.

The new results reported further confirm the company’s suspicions for down dip extensions of surface soil anomalies. Three drill rigs are currently operating in Area 1, as the company continues to test the significant soil anomalies identified earlier this year.

Lithium Ionic Corp. (LTH) is up 7.37 per cent trading at $1.02 per share as of 4:04 p.m. ET.


More From The Market Herald

" ValOre Metals (TSXV:VO) announces $2.5M private placement

ValOr Metals (VO) has announced a non-brokered private placement for gross proceeds of up to $2,500,000.

" Sigma Lithium (TSXV:SGML) preparing Phase 1 pit for mining

Sigma Lithium’s (SGML) construction remains on schedule for its Phase 1 production plant and mine at its Grota do Cirilo Project.
Contact Gold - Overview of Green Springs Project

" Contact Gold (TSXV:C) reports Q2 2022 financial & operating results

Contact Gold Corp. (C) released its financial and operating results for Q2 2022.

" Goldcliff (TSXV:GCN) samples 170 g/t silver at Kettle Valley

Goldcliff Resource Corporation (GCN) has reported that follow-up surface sampling at the Kettle Valley Gold-Silver Project in B.C. has yielded strong silver values.