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Toronto, Ontario–(Newsfile Corp. – December 07, 2022) – ION Energi Limited (TSXV: ION) (OTCKB: IONGF) (FSE: 5IB) (“AND HE” or “Company“), Mongolia’s premier lithium salt explorer and developer, is pleased to share drilling results and exploration updates at the Urgakh Naran lithium project in Mongolia.
Most important:
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Successfully completed drilling of three lithological diamond core wells with a total depth of 954m
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Notable results of the two meter drill core include:
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UNDH-01: 123 m at 278 ppm lithium from 122 m, with maximum reported lithium at 832 ppm over 2 m;
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UNDH-02: 100m at 362ppm lithium at 65m, with maximum lithium at 601ppm at 2m; and
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UNDH-03: 71.4m at 360ppm lithium from 3.6m with maximum lithium at 911ppm at 2m.
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Completed drilling of two hydrological test wells for testing basin brines. The third test well is currently being completed
“The Company is extremely pleased with the drilling results obtained from the recently completed exploratory diamond core drilling program. The results indicated the existence of a lithium basin with significant insitu brine potential at relatively shallow depths. The Company is now completing its third hydrologic test well with brine sampling in all three wells will start in the coming months. The Urgakh Naran Basin is over 17,000 ha in size and shows the potential to host significant saltwater accumulations in close proximity to the national power grid and critical development infrastructure.” said Ali Haji, CEO and Director of ION Energi. “With the world experiencing significant supply constraints of much-needed lithium resources, ION Energy continues to move quickly to help solve this global problem.”
Figure 1: Well location map at the Urgakh Naran lithium project, Mongolia.
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Figure 2. UNDH-01 lithium results, Urgakh Naran, Mongolia.
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Figure 3. UNDH-02 lithium results, Urgakh Naran, Mongolia.
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Figure 4. UNDH-03 lithium results, Urgakh Naran, Mongolia.
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Figure 5. UNDH-03, Urgakh Naran, Dorngovi, Mongolia.
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Figure 6. UNVH-03 Drilling, Urgakh Naran, Mongolia.
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All technical information published in this press release has been reviewed and approved by Khurelbaatar Lamzav, P.Geo., the company’s independent consultant and a “Qualified Person” under National Instrument 43-101.
About ION Energi Ltd.
ION Energi Ltd. (TSXV: ION) (OTCKB: IONGF) (FSE: 5IB) is committed to the exploration and development of lithium deposits in Mongolia. ION’s flagship, 81,000+ hectare Baavhai Uul lithium brine project represents the largest and first lithium brine exploration license award in Mongolia. ION also owns the 29,000+ hectare Urgakh Naran highly prospective lithium brine license in Mongolia’s Dorngovi Province. ION is well poised to be a key player in the clean energy revolution, well positioned to meet the world’s increased demand for lithium. Information about the Company is available on its website, www.ionenergi.ca, or under its SEDAR profile at www.sedar.com.
For further information:
COMPANY CONTACT: Ali Haji, ali@ionenergi.ca, 647-871-4571
MEDIA CONTACT: Siloni Varaich, siloni@ionenergi.ca, 416-432-4920
Caution regarding forward-looking information
Neither TSKS Venture Exchange nor its regulation service provider (as that term is defined in TSKS Venture Exchange’s policies) accepts responsibility for the adequacy or accuracy of this announcement.
The information contained in this announcement contains forward-looking statements. Forward-looking statements include estimates and statements describing the Company’s future plans, goals or objectives, including statements that the Company or management expect a stated condition or result to occur. Forward-looking statements can be identified by terms such as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will” or “plan”. Because forward-looking statements are based on assumptions and relate to future events and conditions, by their nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company gives no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors associated with forward-looking information may cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, potential mineralization, exploration and development results, mineral resource estimates, mine exploration and development plans, timing of commencement of operations and market estimates. conditions. Important factors that could cause actual results to differ materially from ION Energi’s expectations include, among other things, uncertainties regarding the availability and cost of financing required in the future, changes in equity markets, risks related to international operations, the actual results of ongoing exploration activities, project development delays, economic evaluation conclusions and changes in project parameters as plans continue to be refined, as well as future lithium prices, as well as the ability to anticipate or counter the potential impact of the COVID-19 coronavirus on factors relevant to the Company’s business. There can be no assurance that forward-looking statements will prove to be accurate and actual results could result, and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
To view the original version of this press release, visit https://www.nevsfilecorp.com/release/147103
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