Lithium Ionic Corp. (TSXV:LTH) currently drilling for lithium in Brazil, begins trading on TSX Venture Exchange. The company owns a 100% ownership interest in the Itinga lithium Project located in Minas Gerais State, Brazil.
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Video Transcript:
Lithium Ionic Corp. (TSXV:LTH) is one of the latest new listings on the TSX Venture Exchange, trading under the symbol “LTH”, following its qualifying transaction with Capital Pool Company POCML 6.
The company owns a 100% ownership interest in the Itinga lithium Project located in Minas Gerais State, Brazil.
The project comprises five mineral licenses covering more than 1,300 hectares in the prolific Aracuai lithium province.
A portion of the project occurs immediately south of the CBL lithium mine and plant and immediately north of the large Barreiro and Xuxa lithium deposits of Sigma Lithium Corp.
CBL, Brazil’s only lithium producer, has been in operation since 1993 and is producing 36,000 tpy of SPO concentrate grading 5.50% Li2O.
The Project area has excellent infrastructure, including access to hydroelectrical grid power, water, a commercial port, highways and communities.
Lithium mineralization (spodumene, lepidolite, petalite) occurs within a halo of pegmatite dikes and apophyses that occur within the rocks surrounding Neoproterozoic granitic intrusions.
Mineralized structures have been identified in two areas within the Project and the remainder of the Project area remains to be explored.
The company is currently conducting geochemical surveys, geophysical surveys, trenching and diamond drilling on the Itinga Project.
Assays have been received from the initial trench, located approximately 800 meters southeast of the CBL Lithium mining operation.
The trench exposed a zone extending 8.8 meters grading 1.46% Li2O including 5.8 meters grading 1.82% Li2O.
Blake Hylands, CEO, stated: “We are very excited to commence trading on the TSX Venture Exchange. We look forward to presenting great results in the coming weeks and months. Our Itinga Lithium project is well situated directly between the CBL Lithium Mining operation to the northwest and Sigma Lithium’s project to the southeast. Trenching and diamond drilling has already commenced on the Itinga project, and our team has already identified good grade lithium mineralization in trenches. The initial trench exposed 8.8 meters grading 1.46% Li2O including 5.8 meters grading 1.82% Li2O.”
The shares are trading at $1.03.
For more information, please visit the company’s website www.LithiumIonic.com contact Blake Hylands. P.Geo., CEO, at BHylands@LithiumIonic.com.
