TORONTO, Oct. 22, 2024 (GLOBE NEWSWIRE) — Lithium Ionic Corp. (TSXV: LTH; OTCQX: LTHCF; FSE: H3N) (“Lithium Ionic” or the “Corporate”) is happy to announce the initiation of Engineering, Procurement, and Development Control (“EPCM”) products and services for its flagship Bandeira Lithium Undertaking (“Bandeira” or the “Undertaking”) situated in northeastern Minas Gerais State, Brazil. This milestone marks the transition to the development and construction section of the Undertaking and is a key step against manufacturing. Advancing engineering and building control products and services will growth the Undertaking alongside the focused timeline in anticipation of the impending approval of web page lets in.
Key Highlights:
- Hatch Ltd. has been awarded engineering and design products and services. Hatch is an the world over identified engineering company with in depth international revel in in different commodities and an area presence in Brazil, together with workplaces in Belo Horizonte, the capital town of Minas Gerais state. Hatch’s involvement will convey world-class experience and leading edge answers to the Bandeira Undertaking, making sure a streamlined and environment friendly construction procedure.
- Reta Engenharia, a number one Brazilian building control corporate, has been decided on to offer building control products and services for the Bandeira Undertaking. With in depth revel in in greenfield mining initiatives, Reta has supported each junior and large-cap manufacturers, making them preferably fitted to power environment friendly and efficient undertaking results. Their confirmed song file in managing greenfield initiatives, mixed with their deep regional wisdom, can be instrumental in advancing the Bandeira Undertaking against manufacturing.
- Rising the Proprietor’s Staff: To enhance this transition to undertaking construction and make sure a clean transition into manufacturing, Lithium Ionic is increasing the technical features of its proprietor’s staff, by way of bringing in skilled pros to steer the Bandeira Undertaking throughout the building and operational readiness levels.
Blake Hylands, P.Geo., CEO of Lithium Ionic, commented, “Our momentum against manufacturing is more potent than ever as we kick off the engineering and building control section with our esteemed companions, Hatch and Reta. This important milestone marks a very powerful step against our objective of turning into one among Brazil’s subsequent main lithium manufacturers. At the allowing entrance, we at the moment are within the ultimate phases at each the nationwide and state ranges, striking us firmly on course to ship on our dedication of creating a sustainable and financial lithium mine that can give a contribution to the area’s rising importance within the international lithium provide chain.”
Allowing Procedure Advancing on Monitor, Key Milestones Coming near
The allowing procedure for the Bandeira Undertaking is progressing successfully at each the State and Federal ranges, with key approvals drawing near. Recently, the assessment procedure is underway for the granting of the Concomitant Environmental and Set up License (Licença Ambiental Concomitante – LAC), which is a part of a fast-track allowing procedure for crucial minerals initiatives, designed to expedite the timeline to building. Following the LAC approval, the general steps for full-scale manufacturing will come with the granting of the Mining Concession and the Running License (Licença de Operação – LO), which is issued upon inspection of the finished web page amenities. Lithium Ionic stays on course to start preliminary manufacturing at Bandeira in the second one part of 2026.
Bandeira Lithium Undertaking
The Bandeira belongings covers 157 hectares, or ~1% of the Corporate’s wide ~17,000-hectare land package deal in Brazil’s prolific Lithium Valley, in Minas Gerais State. Bandeira recently accounts for ~70% of Lithium Ionic’s international lithium mineral useful resource estimate of 60.1Mt* (See press unlock dated April 12, 2024).
In Might 2024, a Feasibility Find out about for Bandeira highlighted a strong 14-year mine existence, generating a median of 178,000 tonnes of top quality spodumene listen (5.5% Li₂O) once a year with a post-tax NPV of US$1.3 billion and an IRR of 40% (see press unlock dated Might 29, 2024)
Bandeira is positioned in northeastern Minas Gerais State, a Tier 1 mining area with very good infrastructure, together with low cost, renewable hydroelectric energy, get admission to to water, very good delivery infrastructure and get admission to to international markets by means of within sight ports. Referred to as Brazil’s “Lithium Valley,” this area hosts the most important lithium reserves within the nation and has emerged as a globally vital manufacturer of top purity spodumene listen. Bandeira is situated roughly 500m from CBL’s Cachoeira lithium mine and roughly 4km from Sigma Lithium’s Grota do Cirilo Mine.
*See NI 43-101 compliant technical record associated with the Bandeira Bandeira MRE titled “NI 43-101 Technical File – Mineral Useful resource Replace on Bandeira Undertaking, Araçuaí and Itinga, Minas Gerais State, Brazil” (efficient date of March 5, 2024; QP: Leonardo Soares of GE21); See NI 43-101 compliant technical record associated with the Salinas MRE titled “Unbiased Technical File on Mineral Sources Estimate” (efficient date of January 4, 2024; QP: Leonardo Soares, P.Geo., M.Sc., of GE21); and the NI 43-101 compliant technical stories associated with the Outro Lado deposit titled “Mineral Useful resource Estimate for Lithium Ionic, Itinga Undertaking” (efficient date of June 24, 2023; authored by way of Maxime Dupéré, B. Sc., P.Geo. and Faisal Sayeed, B. Sc., P.Geo).
On behalf of the Board of Administrators of Lithium Ionic Corp.
Blake Hylands
Leader Government Officer, Director
About Lithium Ionic Corp.
Lithium Ionic is a Canadian mining corporate advancing its lithium initiatives in Brazil, with near-term manufacturing anticipated from its flagship Bandeira Undertaking. Located within the center of the “Lithium Valley” in Minas Gerais state, Bandeira is located to change into the following main provider of top quality lithium listen. Since its formation in 2022, Lithium Ionic has abruptly improved towards the development degree, defining one of the most biggest lithium deposits within the belt, with ongoing drilling proceeding to amplify its vital useful resource base. Taking advantage of a streamlined allowing procedure in a mining-friendly jurisdiction, Lithium Ionic is strategically located to satisfy the rising call for for lithium within the EV and battery provide chains.
Certified Individuals
The technical data on this information unlock has been ready by way of Carlos Costa, Vice President Exploration of Lithium Ionic and Blake Hylands, CEO and director of Lithium Ionic, who’re each “certified individuals” as outlined in NI 43-101. Mr. Costa and Mr. Hylands have each learn and authorized the content material on this information unlock.
Investor and Media Inquiries:
+1 647.316.2500
data@lithiumionic.com
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This press unlock accommodates statements that represent “forward-statements.” Such ahead shopping statements contain recognized and unknown dangers, uncertainties and different elements that can reason the Corporate’s precise effects, efficiency or achievements, or trends to range materially from the predicted effects, efficiency or achievements expressed or implied by way of such forward-looking statements. Even though the Corporate believes, in mild of the revel in of its officials and administrators, present prerequisites and anticipated long term trends and different elements which have been thought to be suitable that the expectancies mirrored on this forward-looking data are cheap, undue reliance will have to no longer be put on them since the Corporate can provide no assurance that they are going to end up to be right kind. When used on this press unlock, the phrases “estimate”, “undertaking”, “trust”, “look ahead to”, “intend”, “be expecting”, “plan”, “expect”, “would possibly” or “will have to” and the damaging of those phrases or such diversifications thereon or similar terminology are supposed to spot forward-looking statements and data. The forward-looking statements and data on this press unlock come with data in the case of the mineralization and prospectivity of the Corporate’s mineral homes, the have an effect on of the engagement of EPCM carrier suppliers, the timing, supply and price of EPCM products and services, the industrial viability of Bandeira, the advance of the Corporate’s mineral homes, the timing for building of the Undertaking, the Corporate’s skill to procure the needful allowing and approvals and the Corporate’s long term plans. Such statements and data mirror the present view of the Corporate. Dangers and uncertainties that can reason precise effects to range materially from the ones pondered in the ones forward-looking statements and data. Through their nature, forward-looking statements contain recognized and unknown dangers, uncertainties and different elements which would possibly reason our precise effects, efficiency or achievements, or different long term occasions, to be materially other from any long term effects, efficiency or achievements expressed or implied by way of such forward-looking statements. The forward-looking data contained on this information unlock represents the expectancies of the Corporate as of the date of this information unlock and, accordingly, is matter to modify after such date. Readers will have to no longer position undue significance on forward-looking data and will have to no longer depend upon this data as of some other date. The Corporate undertakes no legal responsibility to replace those forward-looking statements within the match that control’s ideals, estimates or evaluations, or different elements, will have to exchange.
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