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).