- Lithium Ionic Corp. (LTH) has intersected prospective lithium mineralization while drilling the Galvani claims in Brazil
- Results include a drill intercept of 1.94 per cent lithium oxide over 19.78 metres, and another intercept of 1.27 per cent lithium oxide over 10.77 metres
- Results since mid-June are consistent with some of the significant historic drill results
- Lithium Ionic is currently working on the claims as part of its 90-day due diligence review for a previously announced purchase agreement
- Lithium Ionic Corp. (LTH) is up 4.65 per cent and is trading at $1.35 per share as of 2:31 p.m. ET
Lithium Ionic Corp. (LTH) has intersected prospective lithium mineralization while drilling the Galvani claims in Brazil.
The latest results include a drill intercept of 1.94 per cent lithium oxide over 19.78 metres and another intercept of 1.27 per cent lithium oxide over 10.77 metres. The company stated its results since June are consistent with some of the significant historic drill results covering are consistent with some of the significant historic drill results which cover a roughly one-kilometre trend.
“The latest drill results at the Outro Lado showing at the Galvani claims are very encouraging and further demonstrates the potential for us to define a significant deposit in this area… improve our understanding of the geology and mineralization controls, which will enable us to define new targets,” Blake Hylands, CEO of Lithium Ionic, said.
Lithium Ionic is working on an extensive drill program and trenching around a notable pegmatite on the Galvani claims as part of its 90-day due diligence review for a previously announced purchase agreement.
The exploration program was designed to confirm historic drilling and determine the structural controls of the mineralized pegmatites, including their orientation with up and down dip testing.
According to the company, the Galvani property is nearby the high-grade Xuxa deposit, where large widths of intercepts demonstrate excellent potential to outline a significant resource.
Lithium Ionic Corp. (LTH) is up 4.65 per cent and is trading at $1.35 per share as of 2:31 p.m. ET.