Lithium Ionic Corp. filed a NI 43-101 technical report detailing a 32% increase in its Baixa Grande lithium resources in Brazil. The report states 6.52 million tonnes of measured and indicated resources and an additional 12.90 million tonnes inferred, representing a significant addition to its total resources in the region. This report reflects the Company’s strategic growth in the competitive lithium market.
Lithium Ionic Corp. has filed a compliant NI 43-101 technical report regarding its Baixa Grande Lithium Project in Minas Gerais, Brazil, showcasing a significant 32% increase in its mineral resource estimate. The report reveals measured and indicated resources of 6.52 million tonnes with a lithium oxide grade of 1.11%, equating to approximately 179,580 tonnes of lithium carbonate equivalent. Additionally, it mentions 12.90 million tonnes in the inferred category with a grade of 0.96%. This resource accounts for around 30% of Lithium Ionic’s total global mineral resources amounting to 64.7 million tonnes in Brazil’s critical lithium zone.
The Baixa Grande project, located within the promising Salinas properties, adds significant value to Lithium Ionic’s portfolio. This area, situated north of the Bandeira project, is renowned for its spodumene-bearing pegmatites, strengthening the Company’s position in the lithium market. The Baixa Grande resource is newly part of the strategic expansion following the acquisition of Salinas properties in March 2023.
Furthermore, Pilbara Minerals’ acquisition of Latin Resources’ Colina deposit nearby underscores the growing significance of Brazil’s lithium potential, indicating a move towards diversification in the Americas. The Baixa Grande resource spans 662 hectares, representing only a fraction of Lithium Ionic’s extensive 17,000-hectare land package in the region.
Lithium Ionic Corp. aims to advance its lithium mining initiatives in Brazil, showcasing its properties which span approximately 17,000 hectares in the prolific northeastern Minas Gerais region. The Company’s focus on expanding its resources, particularly with the recognized Bandeira Project and the neighboring Cachoeira lithium mine, positions it as a key player in this developing lithium district.
In summary, Lithium Ionic Corp. has successfully registered a notable increase in its mineral resource estimate for the Baixa Grande Lithium Project, bolstering its status as a leading player in the lithium mining sector. The technical report signifies the Company’s commitment to exploring and developing valuable lithium properties in Brazil’s promising market, further enhancing its viability within the global lithium landscape.
Original Source: www.globenewswire.com
