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The Itinga properties are located in one of the largest lithium-bearing pegmatite populations in the world.
Lithium Ionic’s Itinga properties are located in the mining-friendly state of Minas Gerais, in the southeast region of Brazil, within the Araçuaí Pegmatite District (APD), in the municipalities of Araçuaí and Itinga.
The APD, located within the Eastern Brazilian Pegmatite Province (EBPP), represents one of the largest lithium-bearing pegmatite populations in the world. This region has emerged as a globally significant producer of high-purity lithium with increasing spodumene concentrate production at CBL’s Cachoeira Mine and Sigma Lithium Corp.’s Grota do Cirilo mine. These lithium mines are located in proximity to Lithium Ionic's two main NI 43-101 compliant lithium deposits: the feasibility-level Bandeira project and the Outro Lado deposit.
BANDEIRA LITHIUM PROJECT
The Company began drilling Bandeira in April 2022, reporting an initial mineral resource estimate (“MRE”) in June 2023. In October 2023, an updated MRE at Bandeira showcased a near-doubling of the MRE, which formed the basis of a Preliminary Economic Assessment (“PEA”). This study supported a long-life and low-cost spodumene concentrate mining project with a post-tax Net Present Value (“NPV”)8% of US$1.6 billion (~C$2.2 billion) and an Internal Rate of Return (“IRR”) of 121% (see details of the PEA HERE).
Measured & Indicated:
23.68Mt grading 1.34% Li2O (783,000t LCE)
Inferred:
18.25Mt grading 1.37% Li2O (618,400t LCE)
Near-term Catalysts:
- Feasibility Study underway Bandeira expected in May 2024.
- Environmental Impact Assessment underway and expected for completion in H1 2024.
- Approval of the Environmental and Installation License (“LAC”, or Licença Ambiental Concomitante) expected in mid-2024.
OUTRO LADO LITHIUM DEPOSIT
An initial mineral resource estimate for Outro Lado was reported on June 27, 2023, which considered drill data from 61 holes (7,659 metres). See the press release related HERE or the technical report HERE.
Measured & Indicated:
2.97Mt grading 1.46% Li₂O (107,599t LCE)
Inferred:
0.42Mt grading 1.48% Li₂O (15,168t LCE)
