ION Celebrates 1 Year of Trading, as Maiden Exploration Commences on the Urgakh Naran Lithium Salar Project

Ion Energy Limited (TSXV: ION) (OTCQB: IONGF) (FSE: 5YB) ("ION" or the "Company") is very pleased to announce that it will commence its maiden exploration program at it's 100% owned Urgakh Naran Lithium Salar Project in Dorngovi Province, Mongolia, as it celebrates its 1 year anniversary of trading commencement on the TSX-V.

"Our team has accomplished so much in the past year: from a new licence acquisition to the closing of a significant public offering. We are now very pleased to be commencing the maiden exploration program at our Urgakh Naran Lithium Salar Project. This is an exciting milestone for the company, and another step in Ion Energy's aggressive growth strategy," said Ali Haji, CEO of ION Energy Ltd.

Highlights

  • Extensive and systematic near surface testing of the UN Salar

  • An initial 73 shallow holes planned with drilling commencing in the coming week

  • Hydrogeological sampling of brines intersected

  • Geochemical sampling of Salar clays and evaporites

Drilling at the UN Salar located on the 100% owned Urgakh Naran licence in Dorngovi province will consist of 73 shallow auger drilling holes at a wide spacing of 1km X 1km. Drill holes will be completed to a depth of approximately six metres. Potential lithium bearing clays and evaporites will be sampled in each hole as will any lithium brines intersected by this shallow drilling. The main body of the UN Salar is approximately 10km x 3km in size and is highly prospective for lithium. This will be the first systematic testing of the surficial layers and brines associated with the UN Salar.

The Company remains highly encouraged, having encountered lithium brines in its initial drilling program at the Baavhai Uul Lithium Salar Project. Stratigraphic lithologies and brines intersected in the maiden drilling program will now need to be systematically tested for lithium. A program of hydrological drilling and brine sampling in addition to a program of surface testing of the Baavhai Uul Salars is currently being planned for commencement after the completion of drill testing of the UN Salar.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6906/96268_9bef27b194b339cd_002.jpg

Figure 1. Drill map at Urgakh Naran.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6906/96268_9bef27b194b339cd_002full.jpg

All technical information 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.

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, 647-871-4571

MEDIA CONTACT: Siloni Waraich, siloni@ionenergy.ca, 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/96268

News Provided by Newsfile via QuoteMedia

The Conversation (0)
Cleantech Lithium

DLE Pilot Plant First Stage Production Completed, Downstream Process Optimised with Sample of Battery-Grade Lithium Produced

CleanTech Lithium PLC (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF), an exploration and development company advancing sustainable lithium projects in Chile, announces completion of the first stage of production from the Company´s DLE pilot plant operations and results from successful downstream process test work to produce battery-grade lithium carbonate by process partners in North America.

Keep reading...Show less
White Cliff Minerals

Appointment of Strategic Advisor

White Cliff Minerals Limited (“WCN” or the “Company”) is pleased to announce the appointment of John Hancock (“John”) as a Strategic Advisor to the Board of White Cliff Minerals Ltd. The Company expects significant growth with its current and future portfolio of projects in the coming 12 months and is working now to secure appropriate personnel to assist with this.

Keep reading...Show less
Neon battery and lightning shapes.

Top 3 ASX Lithium Stocks of 2024

Global demand for lithium-based power presents a significant opportunity for Australia, the top lithium-producing nation. As countries and companies establish their positions in the battery value chain, Australia has the ability to leverage its strong output and vast reserves to shape the industry landscape into the 2030s.

The future of lithium demand relies heavily on the growth of the electric vehicle (EV) market, and in recent years its rapid expansion has led to much higher mining of the commodity — so much so that the market has entered a surplus.

This oversupply kept lithium prices subdued in the first half of 2024, but experts continue to forecast a bright long-term outlook for the essential battery material as countries around the world pursue net-zero goals.

Keep reading...Show less
White Cliff Minerals

Further IOCG, Copper and Epithermal Mineralisation Discovered at Great Bear Lake U-Cu-Ag-Au Project

Works commence at Nunavut Cu-Ag-Au Project

White Cliff Minerals Limited (“WCN” or the “Company”) is pleased to announce that further widespread, IOCG-U polymetallic, mineralisation has been visually observed during the maiden fieldwork program at the 100% owned Great Bear Lake U-Cu- Au-Ag Project in northern Canada and that works have now commenced at the 100% owned Nunavut Cu-Ag-Au Project.

Keep reading...Show less
Lithium periodic symbol leaning against lithium ore and blue batteries.

Top 6 Lithium Stocks of 2024

Now that Q2 has come to a close, it's time to look at the year's best-performing lithium stocks on Canadian, US and Australian exchanges.

While oversupply and weak prices kept some companies from registering big gains during the first half of 2024, others like those below still saw share price grow.Unlike the fluctuations observed in 2023, the lithium market has exhibited greater stability during the first half of 2024.

However, influenced by weak prices in China, the lithium hydroxide market has seen prices remain lower than anticipated.

Market oversupply prompted some lithium producers to trim 2024 output targets in hopes that some of the excess would be absorbed in the market.

Keep reading...Show less
Lithium periodic symbol and Canadian flag.

Top 5 Canadian Lithium Stocks of 2024

Continued surpluses in the lithium market have weighed down prices and impeded the sector’s growth during the second quarter of 2024. The excess has been attributed to heightened production in 2021 and 2022 amid higher lithium prices.

According to a July Fastmarkets report, increased lithium demand is fully priced into the market. China's lithium carbonate equivalent production from lepidolite rose by 126 percent year-over-year in April, while spodumene production increased by 109 percent. The accumulation of inventory suggests that there is no immediate supply shortage, but time is needed for demand to absorb the surplus.

With so much excess in the market, many lithium producers and explorers have struggled to see positive share price activity. However, several Canadian-listed lithium companies were able to see some growth during the first half of the year.

Keep reading...Show less

Latest Press Releases

Related News

×