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Ion Prepared to Pump Mongolian Brine

22 March 2023 12:14
TSX-V: ION

Completion of drilling has been announced by Ion Energy at its Urgakh Naran Lithium Brine Project in Mongolia, with the third water well being successfully completed with a six-inch tri-cone bit, four-inch steel slotted pipes, and gravel packed to a depth of 300 meters.

Earlier this month, ION’s drilling operations began earlier than expected. Initially, the team believed that they would have to wait until later in the month when temperatures would be more suitable for drilling, but the Company managed to obtain the necessary equipment to fire up the rig early.

After the successful completion of the third well, Ion Energy is moving forward to the next stage of exploration at the Project site. Additional hydrogeological testing equipment, including Solinst pumps and Bailers, has been deployed to begin sampling in the upcoming weeks, as the explorer progresses towards producing an inferred resource estimate for the Mongolian Project.

Located just 150 km from the explorer’s flagship Baavhal Uul Project, the Urgakh Naran Basin has almost 20 thousand hectares of highly prospective lithium terrain with the potential to host significant lithium brine, with previous drilling showing a maximum lithium grade of 911 ppm lithium.

The Company said that samples will be collected from across all three wells with analysis to follow shortly after.

Our team is very excited by the progress that has already been made: completing UNWH-03’s water well drilling at 300m. Being able to mobilise additional equipment to the site not only ensures that sampling for analysis will commence in the coming weeks, but emphasises that ION is advancing toward inferred resource calculations at our highly-encouraging Urgakh Naran Project,” CEO & Director Ali Haji said.

ION’s Toronto Stock Exchange-listed share price is currently at CAD$ 0.29 (12:13 pm UTC+ 8 hours).

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