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Lithium Ionic has filed a NI 43-101 compliant technical report for its Salinas Lithium Project in Minas Gerais, Brazil. The report includes an initial Mineral Resource Estimate (MRE) with 5.86 million tonnes (Mt) at 1.09% Li2O in Measured and Indicated resources, and 8.90Mt at 0.97% Li2O in Inferred resources. This increases the company's global mineral resources to 60.1Mt. The report, prepared by GE21 Consultoria Mineral, has an effective date of January 4, 2024, and is available on SEDAR+ and the company’s website. Lithium Ionic is conducting a Preliminary Economic Assessment, expected by late 2024, alongside ongoing exploration and drilling to expand the resources further. An upgraded MRE for Salinas is also anticipated later this year.
Lithium Ionic Corp. has been awarded water rights for its Bandeira Lithium Project in Brazil, marking a significant step towards becoming a lithium producer. The approval grants the right to draw water from the local river at a flow rate of 101.6 m³/hour. The company recently reported a substantial mineral resource estimate for Bandeira, representing 70% of its global resources. A Feasibility Study is expected to be completed soon, with construction authorization anticipated in early Q3 2024.
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