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Ion Energy see a lake of lithium

12 July 2022
TSX-V: ION
Jack Baker

Ion Energy has detected high conductivity and low resistivity for lithium brines across the basin of Urgakh Naran after completing a transient electromagnetic survey across its project in Mongolia’s south Gobi desert.

The company believes significant lithium deposit extractions are possible utilising the region’s arid conditions.

Urgakh Naran combines with the further advanced Baavhai Uul project to add up to 100 thousand hectares of territory the Canadian explorer considers highly prospective for lithium.

Low Resistivity Zone Illustrated Against Resistivity Sections.

Chief executive and company director Ali Haji said the program successfully reached all objectives.

“Results suggest the project’s aquifer is large in size and shows low resistivity,” he said.

“On the back of surface samples of 918 Mg/L lithium at Urgakh Naran, these geophysics results further advance the hypothesis of a potential significant lithium brine deposit.”

The explorer is assessing data to determine locations for three-hole monitoring well drill program to advance an early resource estimate.

ION’s TSX Venture Exchange-listed share price has risen 3.13 per cent today, selling at 16 Canadian cents (2.55 pm UTC+ 8 hours).

COMPANY OVERVIEW

In 2017, our co-founders, Ali Haji and Matthew Wood, identified an opportunity for lithium exploration and development while on a trip to Mongolia for another mining entity. They recognized that our world was on the brink of a Green Revolution, and that the move away from fossil fuels would create unprecedented demand for battery metals, including lithium. Ali and Matthew started discussions with the Mongolian government about the potential for lithium in-country – and the vision for ION Energy was born!

COMPANY INFORMATION

TSX-V: ION

Website

https://www.ionenergy.ca/
https://money.tmx.com/en/quote/ION

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