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On April 4, 2023, Lithium Ionic announced a maiden mineral resource estimate at the Salinas Project of:
SALINAS:
Measured & Indicated:
5.86Mt at 1.09% Li2O (158,678t LCE)
5.86Mt at 1.09% Li2O (158,678t LCE)
Inferred:
18.25Mt grading 1.37% Li2O (618,400t LCE)
18.25Mt grading 1.37% Li2O (618,400t LCE)
*See details and notes related to this MRE in the press release HERE.
The MRE was prepared by GE21 Consultoria Mineral Ltda. (“GE21”) in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”).
This MRE was based on 122 diamond drill holes (27,030m of drilling) completed between May-November 2023, demonstrates rapid growth in a short timeframe.
As part of the MRE report, GE21 outlined potential for significant mineral resource growth from additional lithium-rich spodumene mineralization on the Salinas property, including the recently discovered high-grade “Noe target” announced on February 6, 2024CA1 , which returned a highlight of 1.63% Li₂O over 5.60m.
Path Forward & Upcoming Catalysts:
- Exploration and drilling will be ongoing throughout 2024, with an upgraded and expanded MRE for Salinas expected in Q4 2024
- A Preliminary Economic Assessment is underway by GE21 and is expected for completion in H2 2024 with the objective to accelerate directly to a Feasibility Study.
- Environmental Impact Assessment (“EIA”) study targeted for completion in Q1 2025.