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ION get energised

16 September 2022 13:24
TSX-V: ION

ION Energy have begun diamond core drilling the first of three holes at the Urgakh Naran monitoring wells, each to a minimum of 300 metres at the emerging Mongolian lithium brine project in the arid Gobi desert.

It advances the project to an inferred resource coming in before New Year’s.

With geophysics validated and a 22.7 billion cubic meter aquifer calculated in the previous milestone, it is time to get drilling on the project with the highest grade lithium brine ever collected in Mongolia.

The company said it was yet another breakthrough as it continued to better understand and surface the value of Urgakh Naran.

“The site visit later this month will include technical experts, potential strategic partners and myself; a pivotal moment for the company and our shareholders,” chief executive and director Ali Haji said.

“We look forward to pressing ahead with the work onsite which will include three monitoring wells and ultimately, an inferred resource calculation before the end of 2022.”

The Canada-headquartered explorer will assay and porosity test core samples to be shared with the market as soon as possible, with a fall exploration update upcoming for September 22.

ION’s TSX Venture Exchange-listed share price is currently trading at 23 Canadian cents (10.23 am UTC+ 8 hours).

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