Lithium Ionic Corp. (TSXV: LTH; OTCQB: LTHCF; FSE: H3N) (“Lithium Ionic” or the “Company”) is pleased to announce an updated NI 43-101 Mineral Resource Estimate (“MRE”) for the Baixa Grande Project (“Baixa Grande” or the “Project”; formerly referred to as the “Salinas Project”), the main deposit and growth target within its Salinas group of properties located in northern Minas Gerais State, Brazil (see Figure 1). This updated MRE highlights the significant expertise of Lithium Ionic’s exploration team in defining and growing resources efficiently, underscoring the quality and strategic potential of the Baixa Grande deposit and surrounding claims.
Baixa Grande Mineral Resource Estimate Highlights:
- 6.52 million tonnes (“Mt”) in the Measured and Indicated (“M&I”) category, and an additional 12.90Mt in the Inferred category (see Table 1).
- Since the maiden MRE at Baixa Grande announced in April 2024, M&I has increased 11.3%, while Inferred has increased 45%, showcasing the effectiveness of our exploration approach and the strong potential for further growth in the future.
- The MRE incorporates data from 35,734 metres of drilling (167 diamond drill holes). This additional drilling led to a 32% growth in the total MRE, showcasing the team’s strong geological understanding and exceptional success through targeted drilling efforts.
- In August 2024, Pilbara Minerals announced the acquisition of Latin Resources and their Colina deposit, located directly west of the Baixa Grande deposit in an all-share transaction valued at US$369.4 million (see Latin claims in Figure 1).
- The potential for significant additional lithium-bearing spodumene mineralization at Baixa Grande remains very high with the completion of additional drilling in the area.
Blake Hylands, P.Geo., CEO of Lithium Ionic, commented, “This updated mineral resource estimate for Baixa Grande is a testament to the remarkable work of our exploration team in successfully delineating and expanding the deposit with targeted and efficient drilling. Baixa Grande is proving to be a key contributor to our long-term growth and production strategy. I am confident in our team’s ability to further enhance and upgrade these resources and continue to reinforce the importance of the Salinas group of properties within our portfolio. While our near-term focus remains on advancing Bandeira toward production, we are excited by the continued growth potential at Baixa Grande and other regional targets, and their role in supporting our vision of becoming a leading lithium producer.”
Carlos Costa, P.Geo., Lithium Ionic’s VP of Exploration, commented, “This updated NI 43-101 mineral resource estimate highlights the outstanding achievements of our exploration team and the quality of our assets. The nearly 20Mt resource at Baixa Grande reflects not only the geological potential of the deposit but also the expertise of our technical team in unlocking value efficiently.”
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