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ION Energy charging Mongolian metal

26 August 2022 12:42
TSX-V: ION
Expansive brine pools of Urgakh Naran

ION Energy have validated its geophysics and calculated a 22.7 billion cubic meter low resistivity aquifer from the TEM survey over its Urgakh Naran lithium brines project in Mongolia’s suitably arid and infrastructure-rich South Gobi desert.

The strong conductivity and low resistivity indicated by results are the hallmark traits of a significant brine aquifer.

Urgakh Naran boasts the highest grade lithium brine ever known to have been collected in the country of blue sky, and the company see itself poised to become a significant player in Asia’s booming battery metal market.

And elsewhere in the Gobi, the company revealed 1502 parts per million lithium at Baavhai Uul’s White Wolf prospect and marked discovery of strong copper-nickel anomalies in a significant value add to its reciprocal mining agreement with Aranjin Resources.

The company said the results were a milestone, validating past results and providing means to calculate the brine body.

“Bringing us one step closer to providing a resource estimate on a market altering deposit at Urgakh Naran,” chief executive and director Ali Haji said.

The explorer have drill planning underway to test porosity, flow rates and aquifer specifics, with a technical expert site review set for September.

ION’s TSX Venture Exchange-listed share price has risen 16 per cent today, selling at 29 Canadian cents (10.36am UTC+ 8 hours).

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