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ION Energy touts ‘impressive' drill results at its Urgakh Naran lithium brine project in Mongolia

Vladimir Basov

Kitco News

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(Kitco News) - ION Energy (TSXV: ION), Mongolia’s first lithium brine explorer and developer, said today that it is “extremely pleased” with the drilling results obtained from the recently completed exploration diamond core drilling program at the Urgakh Naran lithium project in Mongolia.

In its press release, ION Energy reported that the company has successfully completed the drilling of three lithological diamond core drill holes for a total depth of 954m.

The company highlighted notable two metre drill core results, including 123m at 278ppm lithium from 122m, with maximum lithium reported at 832ppm over 2m (UNDH-01); 100m at 362ppm lithium from 65m, with maximum lithium at 601ppm over 2m (UNDH-02); and 71.4m at 360ppm lithium from 3.6m with maximum lithium at 911ppm over 2m (UNDH-03).

The company also said it has completed drilling of two hydrological test wells for testing of basin brines, adding that the third test well is currently being completed.

CEO and Director Ali Haji stated, “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 insitu brine at relatively shallow depths. The company is now completing its third hydrological test well with brine sampling to commence across all three wells in the coming months.

“The Urgakh Naran Basin is over 17,000 ha 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 Energy is committed to exploring and developing Mongolia’s lithium salars, which includes the Baavhai Uul and Urgakh Naran project. ION indicated that its flagship 81,000+ hectare Baavhai Uul lithium brine project represents the largest and first lithium brine exploration licence awarded in Mongolia.

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By Vladimir Basov

For Kitco News

Contact vbasov@kitco.com
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