FREE DAILY STOCK MARKET NEWS

FREE DAILY STOCK MARKET NEWS

ION Energy show more Mongolian metal

8 December 2022 11:10
TSX-V: ION

ION Energy have brought in more strong results from Urgakh Naran, from three completed three diamond drill holes in Mongolia’s arid and infrastructure rich South Gobi Desert.

It further validates a 22.7 billion cubic meter, low resistivity aquifer with confirmed geophysics as brine extraction technology continues to progress.

The three drill holes hit a total depth of 954 metres, revealing grades up to 100 metres at 362 parts per million lithium, including a 911ppm lithium strike over 2 metres in hole three.

Holding the title of Mongolia’s first lithium brine explorer and developer, the company said it is moving quickly to help address lithium’s significant supply constraints.

“The Company is extremely pleased with the drilling results obtained from the recently completed exploration diamond core drilling program. Results have indicated a lithium-pregnant basin with significant potential for in-situ brine at relatively shallow depths,” director and chief executive Ali Haji said.

“The Urgakh Naran Basin is over 17,000 hectares in size and is showing the potential to host significant brine accumulations in close proximity to the national electric grid and critical development infrastructure.”

ION have also drilled two hydrological test wells for basin brines, with a third underway.

Significant results:

  • UNDH-01: 123m at 278ppm lithium from 122m, with maximum lithium reported at 832ppm over 2m.
  • UNDH-02: 100m at 362ppm lithium from 65m, with maximum lithium at 601ppm over 2m.
  • UNDH-03: 71.4m at 360ppm lithium from 3.6m with maximum lithium at 911ppm over 2m.

ION’s TSX Venture Exchange-listed share price is currently trading at 20 Canadian cents (10.56 am UTC+ 8 hours).

The Market Bull Logo

FREE DAILY STOCK MARKET NEWS

Join our mailing list to receive the latest stock market news.

You have Successfully Subscribed!

Share This