Lithium Ionic (TSXV: LTH) is reporting this morning that it has significantly expanded its resources at its Baixa Grande Project following the release of an updated mineral resource estimate.
Highlights from the updated resource estimate include:
- Open Pit:
- Measured resources of 31,860 tonnes contained LCE at 1.19% Li2O
- Indicated resources of 147,720 tonnes contained LCE at 1.10% Li2O
- Inferred resources of 280,730 tonnes contained LCE at 0.97% Li2O
- Underground
- Inferred resources of 25,190 tonnes contained LCE at 0.83% Li2O
The updated mineral resource estimate builds on an estimate originally released in April 2024. The update has seen measured and indicated resources grow by 11.3%, while inferred resources improved by 45%. The estimate is based on 35,734 metres of drilling in aggregate that was conducted across 167 drill holes.
Previously referred to as the Salinas Project, Baixa Grande consists of the main deposit and growth target within the Salinas group of properties held by Lithium Ionic.
“Baixa Grande is proving to be a key contributor to our long-term growth and production strategy. I am confident in our team’s ability to further enhance and upgrade these resources and continue to reinforce the importance of the Salinas group of properties within our portfolio. While our near-term focus remains on advancing Bandeira toward production, we are excited by the continued growth potential at Baixa Grande and other regional targets, and their role in supporting our vision of becoming a leading lithium producer,” commented Blake Hylands, CEO of Lithium Ionic.
Lithium Ionic last traded at $0.87 on the TSX Venture.
Information for this briefing was found via Sedar and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
