Lithium Ionic Corp. (TSXV: LTH; OTCQB: LTHCF; FSE: H3N) has announced a robust update to its NI 43-101 Mineral Resource Estimate (MRE) for the Baixa Grande Project, solidifying its position as a leading player in Brazil’s lithium sector. Located within the prolific Eastern Pegmatite Province of northern Minas Gerais State, the updated MRE highlights a 32% increase in the project's total resources, a direct result of the company’s strategic exploration efforts.
The revised MRE for Baixa Grande now includes:
This update integrates data from 35,734 metres of drilling across 167 diamond drill holes conducted between May 2023 and September 2024. These efforts contributed to an 11.3% increase in M&I resources and a remarkable 45% rise in inferred resources compared to the maiden estimate announced in April 2024.
Baixa Grande has emerged as a cornerstone asset in Lithium Ionic’s portfolio. Acquired as part of the Salinas group of properties in March 2023, the deposit spans just 662 hectares of the company’s extensive 17,000-hectare land package. This strategic foothold places Lithium Ionic alongside other key players in the region, including Sigma Lithium and Pilbara Minerals.
In a significant industry move, Pilbara Minerals acquired the neighboring Colina deposit of Latin Resources in August 2024 for $369.4 million. This acquisition underscores the competitiveness and global importance of Brazil's lithium deposits.
Lithium Ionic’s CEO, Blake Hylands, P.Geo., expressed confidence in the project’s potential:
"The updated Baixa Grande mineral resource estimate reflects the exceptional achievements of our exploration team. This deposit is critical to our growth strategy, and its expansion reinforces our vision of establishing a dominant position in the global lithium market. With our near-term focus on advancing the Bandeira Project, we are equally excited by the future potential of Baixa Grande and other targets within our portfolio."
Carlos Costa, VP of Exploration, echoed this sentiment, stating:
"This nearly 20Mt resource is a testament to the geological richness of Baixa Grande and the efficiency of our technical teams. The deposit’s open depth and along-strike continuity offer considerable opportunities for further resource upgrades and expansion."
Baixa Grande remains open at depth and along strike, with the Noé target showing promising spodumene mineralization. Additional drilling is planned to test deeper pegmatites, potentially unlocking further value in this high-grade deposit.
Lithium Ionic continues to align its efforts with the growing global demand for lithium, essential for battery production and the transition to renewable energy solutions.
For more details, the full NI 43-101 technical report will be available on SEDAR+ and the company’s website within 45 days.
