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 Building Control (“EPCM”) services and products for its flagship Bandeira Lithium Venture (“Bandeira” or the “Venture”) situated in northeastern Minas Gerais State, Brazil. This milestone marks the transition to the development and building section of the Venture and is a key step against manufacturing. Advancing engineering and building control services and products will development the Venture alongside the centered timeline in anticipation of the impending approval of web page lets in.
Allowing Procedure Advancing on Monitor, Key Milestones Coming near
The allowing procedure for the Bandeira Venture is progressing successfully at each the State and Federal ranges, with key approvals coming near. Recently, the evaluate 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 overall steps for full-scale manufacturing will come with the granting of the Mining Concession and the Working License (Licença de Operação – LO), which is issued upon inspection of the finished web page amenities. Lithium Ionic stays on the right track to start out preliminary manufacturing at Bandeira in the second one part of 2026.
Bandeira Lithium Venture
The Bandeira belongings covers 157 hectares, or ~1% of the Corporate’s huge ~17,000-hectare land package deal in Brazil’s prolific Lithium Valley, in Minas Gerais State. Bandeira lately 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 Learn about for Bandeira highlighted a powerful 14-year mine existence, generating a mean of 178,000 tonnes of top quality spodumene pay attention (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 superb infrastructure, together with cheap, renewable hydroelectric energy, get entry to to water, superb delivery infrastructure and get entry to to international markets by way of close by 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 pay attention. 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 Record – Mineral Useful resource Replace on Bandeira Venture, 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 Record on Mineral Assets Estimate” (efficient date of January 4, 2024; QP: Leonardo Soares, P.Geo., M.Sc., of GE21); and the NI 43-101 compliant technical studies associated with the Outro Lado deposit titled “Mineral Useful resource Estimate for Lithium Ionic, Itinga Venture” (efficient date of June 24, 2023; authored via 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 Venture. Located within the center of the “Lithium Valley” in Minas Gerais state, Bandeira is located to turn out to be the following primary provider of top quality lithium pay attention. Since its formation in 2022, Lithium Ionic has all of a sudden advanced towards the development level, defining one of the crucial biggest lithium deposits within the belt, with ongoing drilling proceeding to enlarge 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 knowledge on this information unlock has been ready via 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
Cautionary Word Referring to Ahead-Having a look Statements
This press unlock accommodates statements that represent “forward-statements.” Such ahead browsing statements contain identified and unknown dangers, uncertainties and different components that can motive the Corporate’s exact effects, efficiency or achievements, or trends to fluctuate materially from the predicted effects, efficiency or achievements expressed or implied via such forward-looking statements. Even if the Corporate believes, in mild of the revel in of its officials and administrators, present prerequisites and anticipated long run trends and different components which have been thought to be suitable that the expectancies mirrored on this forward-looking knowledge are affordable, undue reliance must now not be put on them since the Corporate may give no assurance that they are going to turn out to be proper. When used on this press unlock, the phrases “estimate”, “undertaking”, “trust”, “watch for”, “intend”, “be expecting”, “plan”, “expect”, “might” or “must” and the unfavourable of those phrases or such diversifications thereon or similar terminology are meant to spot forward-looking statements and data. The forward-looking statements and data on this press unlock come with knowledge in terms of the mineralization and prospectivity of the Corporate’s mineral houses, the have an effect on of the engagement of EPCM carrier suppliers, the timing, supply and value of EPCM services and products, the commercial viability of Bandeira, the improvement of the Corporate’s mineral houses, the timing for building of the Venture, the Corporate’s talent to acquire the considered necessary allowing and approvals and the Corporate’s long run plans. Such statements and data replicate the present view of the Corporate. Dangers and uncertainties that can motive exact effects to fluctuate materially from the ones pondered in the ones forward-looking statements and data. By way of their nature, forward-looking statements contain identified and unknown dangers, uncertainties and different components which might motive our exact effects, efficiency or achievements, or different long run occasions, to be materially other from any long run effects, efficiency or achievements expressed or implied via such forward-looking statements. The forward-looking knowledge contained on this information unlock represents the expectancies of the Corporate as of the date of this information unlock and, accordingly, is topic to modify after such date. Readers must now not position undue significance on forward-looking knowledge and must now not depend upon this data as of some other date. The Corporate undertakes no legal responsibility to replace those forward-looking statements within the tournament that control’s ideals, estimates or reviews, or different components, must alternate.
Data and hyperlinks on this press unlock in terms of different mineral useful resource corporations are from their assets believed to be dependable, however that experience now not been independently verified via the Corporate.
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