ION Energy provides Site Visit and Exploration Update

ION Energy provides Site Visit and Exploration Update

Ion Energy Limited (TSXV: ION) (OTCQB: IONGF) (FSE: 5YB) ("ION" or the "Company") is excited to provide an extensive operational and exploration update on the heels of the site visits in Mongolia in late April, to our Baavhai Uul and Urgakh Naran projects:

  • +81,000 hectare Baavhai Uul flagship project has shown ~25% lithium anomalies thusfar, as further drilling results are pending; and

  • Results from core brine sampling are expected from our +29,000 hectare Urgakh Naran sala: sampling was collected from the surface, with five of eight Transient Electromagnetic (TEM) lines completed with 53 auger holes to a depth of 12m, 2m after the water table or basement; whichever was arrived at first. Auger holes are being sampled every 2m and are bailed a minimum of twice, 24 hours after being drilled before collecting brine samples.

Following the recent site visits to the 100%-owned Baavhai Uul and Urgakh Naran projects, conducted by our CEO, Ali Haji, ION Director, Enkhtuvshin Khishigsuren, Don Hains, P.Geo, MBA, Lead Technical Advisor, and Dr. Mark King, PhD, P.Geo, ION is pleased to share that exploration programs have advanced and results from both brine collected and core samples are expected in the coming weeks.

ION's CEO, Ali Haji, commented, "I would like to thank Mark and Don for joining this strategic visit, and am excited to be building a critical Lithium supply, with these foremost global industry experts by our side. Having their on-the-ground insight was invaluable from a training perspective for our in-country exploration team, and further reinforced the potential of our highly prospective, world-class assets. We are encouraged by the prospect of Baavhai Uul's pending additional drilling results and Urgakh Naran's current sampling."

ION's technical advisor, Dr. Mark King shared his observations: "I visited Mongolia from April 19-24, 2022 for the purpose of reviewing ION's lithium brine exploration assets, located in the Gobi Desert in southern Mongolia. Though the UN site's program is at an early stage, with TEM geophysics and shallow auger sampling just under way, the geology and morphology of the property is highly prospective, with some parallels to Nevada playa basins and South American salars. It was heartening to see some artisanal salt harvesting in the surface evaporite layers, contained in the low-lying dry ponds and lakes: a good indication of brine presence.

In my first foray into Mongolia, it was evident that the jurisdiction has a very positive view of responsible mining and exploration projects. And my interaction with the in-country ION exploration crew demonstrates that Mongolia has a highly-skilled mining workforce, with well-trained geologists and hydrogeologists to support such projects. I look forward to the upcoming results from both of Ion Energy's sites."

Ion Energy looks forward to providing regular exploration program updates with the market, in the coming weeks. In the meantime, our team has prepared this video to share in the excitement of our recent visit.

Urgakh Naran

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_001.jpg

Figure 1. Aerial image of two salt flats in the Urgakh Naran Basin.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_001full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6906/122500_fig2a.jpg

Figure 2. Exploration Camp at Urgakh Naran.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6906/122500_fig2.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_003.jpg

Figure 3. Natural Evaporation Ponds on one of the salt basins at Urgakh Naran.

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_003full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_004.jpg

Figure 4. Brine collected on site at Urgakh Naran during site visit for assay.

To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_004full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_005.jpg

Figure 5. Senior Technical team: Enkhtuvshin Khishigsuren, Mark King, PhD, PGeo., and Don Hains, P.Geo, MBA with CEO, Ali Haji on site at Urgakh Naran.

To view an enhanced version of Figure 5, please visit:
https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_005full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_006.jpg

Figure 6. Exploration status at Urgakh Naran as at April 30, 2022.

To view an enhanced version of Figure 6, please visit:
https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_006full.jpg

Baavhai Uul

Results from the maiden auger exploration program have now been obtained for the entire licence. The Company looks forward to the results from the infill program. Given the scale of this licence, we are encouraged by the grades being seen in and around the White Wolf Prospect.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_007.jpg

Figure 7. Baavhai Uul results and exploration status map.

To view an enhanced version of Figure 7, please visit:
https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_007full.jpg

All technical information disclosed in this press release has been reviewed and approved by Khurelbaatar Lamzav, P.Geo., an independent consultant to the Company and a "Qualified Person" under National Instrument 43-101.

Options

The Company also announces that it has granted to certain consultants and insiders of the Company, 165,000 options an aggregate of 165,000 incentive stock options (the "Stock Options") to purchase common shares under the Company's incentive stock option plan (the "Plan"). Each Stock Option is exercisable into a common share of the Company at a price of $0.605 for a period of two years from the date of grant. The Stock Options will vest immediately and be subject to the terms and conditions of the Plan and the policies of the TSX Venture Exchange.

About ION Energy Ltd.

ION Energy Ltd. (TSXV: ION) (OTCQB: IONGF) (FSE: 5YB) is committed to exploring and developing Mongolia's lithium salars. ION's flagship, 81,000+ hectare Baavhai Uul lithium brine project, represents the largest and first lithium brine exploration licence award in Mongolia. ION also holds the 29,000+ hectare Urgakh Naran highly prospective Lithium Brine licence in Dorngovi Province in Mongolia. ION is well-poised to be a key player in the clean energy revolution, positioned well to service the world's increased demand for lithium. Information about the Company is available on its website, www.ionenergy.ca, or under its profile on SEDAR at www.sedar.com.

For further information:

COMPANY CONTACT: Ali Haji, ali@ionenergy.ca, +1 647-871-4571

MEDIA CONTACT: Siloni Waraich, siloni@ionenergy.ca, + 1 416-432-4920

Cautionary Note Regarding Forward-Looking Information

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Information set forth in this news release contains forward-looking statements. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could 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 news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, potential mineralization, exploration and development results, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Important factors that could cause actual results to differ materially from Ion Energy's expectations include, among others, uncertainties relating to availability and costs of financing needed in the future, changes in equity markets, risks related to international operations, the actual results of current exploration activities, delays in the development of projects, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of lithium, and ability to predict or counteract potential impact of 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 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 source version of this press release, please visit https://www.newsfilecorp.com/release/122500

News Provided by Newsfile via QuoteMedia

ION:CA
The Conversation (0)
ION Announces US$13.5M Joint Venture on Urgakh Naran, Corporate Updates and Update on Rare Earths Transaction

ION Announces US$13.5M Joint Venture on Urgakh Naran, Corporate Updates and Update on Rare Earths Transaction

Lithium ION Energy Limited (TSXV: ION) (FSE: ZA4) ("ION" or the "Company") is pleased to share that it has entered into a binding Joint Venture Agreement with SureFQ Ltd. ("SureFQ") for the advancement of the Urgakh Naran project in Mongolia, in which ION will continue to hold a 20% free carried interest through to commercial production.

Highlights:

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Lithium ION Energy Announces Completion of Debt Settlement

Lithium ION Energy Announces Completion of Debt Settlement

Lithium ION Energy Ltd. (TSXV: ION) (OTCQB: IONGF) (FSE: ZA4) ("ION" or the "Company") further to the announcement of March 13, 2024, confirms that it has completed debt settlement agreements with certain arm's length and non-arm's length creditors. Pursuant to the debt settlement agreements, the Company has settled an aggregate amount of $98,419 in debt, in consideration for which it will issue an aggregate of 393,675 common shares (the "Shares") of the Company at a deemed price of $0.25 per Share.

All Shares issued in relation to these debt settlements will be subject to a hold period expiring four months and one day after the date the Shares are issued, in accordance with applicable securities laws and the policies of the TSXV.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Lithium ION Energy Announces Warrant Extension

Lithium ION Energy Announces Warrant Extension

Lithium ION Energy Ltd (TSXV: ION) (OTCQB: IONGF) (FSE: ZA4) ("ION" or the "Company") announces today that it intends to extend the expiry date of an aggregate 11,500,000 outstanding common share purchase warrants of the Company (the "April Warrants") by 12 months to April 12, 2025 and an aggregate 4,000,000 outstanding common share purchase warrants of the Company (the "July Warrants" and collectively with the April Warrants, the "Warrants") by 12 months to July 20, 2025 (collectively with the extension of April Warrants, the "Extension").

The April Warrants were issued pursuant to a public offering which closed on April 13, 2021 and are set to expire on April 12, 2024. The April Warrants were issued pursuant to a warrant indenture dated April 13, 2021 between the Company and TSX Trust and each April Warrant entitles the holder thereof to acquire one common share of the Company at a price of CAD $0.70. The July Warrants were issued pursuant to a non-brokered private placement which closed on July 20, 2023 and are set to expire on July 20, 2024. Each July Warrant entitles the holder thereof to acquire one common share of the Company at a price of CAD $0.40.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Lithium ION Energy Announces Debt Settlement and Grant of Stock Options

Lithium ION Energy Announces Debt Settlement and Grant of Stock Options

Lithium ION Energy Limited (TSXV: ION) (OTCQB: IONGF) (FSE: ZA4) ("ION" or the "Company") announces that it has negotiated debt settlement agreements with certain arm's length and non-arm's length creditors. Pursuant to the debt settlement agreements, and subject to acceptance by the TSX Venture Exchange (the "TSXV"), the Company has settled an aggregate amount of $143,669 in debt, in consideration for which it will issue an aggregate of 606,675 common shares (the "Shares") of the Company at a deemed price of $0.24 per Share.

All Shares issued in relation to these debt settlements will be subject to a hold period expiring four months and one day after the date the Shares are issued, in accordance with applicable securities laws and the policies of the TSXV.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Lithium ION Energy Shares Victory Nickel Update

Lithium ION Energy Shares Victory Nickel Update

Lithium Ion Energy Limited (TSXV: ION) (OTCQB: IONGF) (FSE: ZA4 ) ("ION" or the "Company") is pleased to announce an update on the Victory Nickel Project in Mongolia, following the exploration joint venture that was entered into with Aranjin Resources Ltd. ("Aranjin") (TSXV: ARJN), in February 2022.

HIGHLIGHTS

Keep reading...Show less
Blue lithium-ion battery over shiny surface.

How to Invest in Lithium Stocks and the Lithium Market

Despite the current low price environment, the long-term demand for battery metals is robust and offers opportunity for those interested in lithium stocks.

Seasoned metals investors who want to look beyond gold and silver are getting involved, while new investors are being drawn into the space by expanding battery market and lithium supply deals between auto makers and lithium producers.

Whatever the reason, it’s important to get familiar with the lithium market before investing in lithium stocks. Here's a brief overview of some of the basics, including supply and demand, prices and companies.

Keep reading...Show less
Andrada Mining

New mineralised pegmatites identified at Lithium Ridge as exploration drilling commences with SQM

Andrada Mining Limited (AIM: ATM, OTCQB: ATMTF), the critical minerals producer with mining and exploration assets in Namibia, is pleased to announce the commencement of exploration drilling at the Lithium Ridge project in partnership with Sociedad Química y Minera de Chile SA through its subsidiary SQM Australia (Pty) Ltd ("SQM"). (See announcement dated 9 September 2024 and 28 February 2025). This milestone represents part of the stage 1 workplan of the three stage earn-in agreement with SQM. Under this first stage, SQM will fund up to US$7 million in exploration to secure an initial 30% interest at project level with the potential to fund up to US$40m million over the three stages.

Keep reading...Show less
Gina Rinehart, executive chair of Hancock Prospecting, stands in front of cherry blossom trees.

Inside Billionaire Gina Rinehart's Key Mining Investments

Australian billionaire Gina Rinehart has become a formidable force in the global mining industry.

After taking the helm of her father’s iron ore firm Hancock Prospecting in 1993, she embarked upon a diversification strategy that has vastly expanded her resource empire. Now Australia’s richest person, Rinehart has investments in many of the world’s most strategic commodities such as lithium, rare earths, copper, potash and natural gas.

One of those investments is Arafura Rare Earths (ASX:ARU,OTC Pink:ARAFF), which even in a low price environment for rare earths managed to secure nearly AU$1.5 billion in debt financing in mid-2024 to advance its Nolans project in the Northern Territory. With a 10 percent equity stake, Rinehart’s Hancock Prospecting is Arafura's largest shareholder.

Keep reading...Show less
Democratic Republic of Congo flag waving against a clear blue sky.

Billionaire-backed KoBold Metals Secures DRC Licenses in Push for Manono Lithium

KoBold Metals, a US-backed mining firm supported by billionaires Jeff Bezos and Bill Gates, has received seven new permits to explore for lithium in the Democratic Republic of Congo (DRC).

The DRC mining registry confirmed on Wednesday (August 27) that the permits cover ground in both the Tanganyika and Haut-Lomami provinces, including four in Manono territory, home to the massive Roche Dure lithium deposit.

The approvals follow a July agreement between KoBold and the DRC government that positioned the company to acquire and develop the disputed Manono project, considered one of world's largest untapped lithium deposits.

Keep reading...Show less
Stacked lithium-ion batteries beside upward arrow chart symbol.

Pilbara Minerals Boosts Annual Production Despite Challenging Lithium Market

Pilbara Minerals (ASX:PLS,OTC Pink:PILBF) has released results for its 2025 fiscal year.

For the lithium producer, the highlight was its record spodumene concentrate production, which it said reflects its “strong operational performance.” Its output reached 754,600 tonnes for the period, up 4 percent.

Pilbara attributes the production increase to its P680 and P1000 expansion projects.

Keep reading...Show less

Latest Press Releases

Related News

×