ION Energy Limited (TSXV: ION) Mongolia’s first lithium brine explorer and developer, has resumed water well drilling at the wholly-owned Urgakh Naran project, to complete the UNWH-03 programme.
Three water wells on site drilled to a total of 682m: UNWH-01 drilled to 300m; UNWH-02 drilled to 300m; and UNWH-03 currently at 82m
Previously stated results on the drilling of three lithological diamond core drill holes for a total depth of 954m: notable two metre drill core results Include:
o UNDH-01: 123m at 278ppm lithium from 122m, with maximum lithium reported at 832ppm over 2m;
o UNDH-02: 100m at 362ppm lithium from 65m, with maximum lithium at 601ppm over 2m; and
o UNDH-03: 71.4m at 360ppm lithium from 3.6m with maximum lithium at 911ppm over 2m.
“Having previously reported strong results from the lithological holes, the Company is now pleased to share that we are completing our third water well at the highly encouraging Urgakh Naran project,” CEO and Director, said Ali Haji, said.
“Until recently, ION’s team had anticipated not being able to return to the site and resume this phase of our drilling programme until much warmer weather, later in March. We’re excited to already be in possession of the equipment necessary for bailer sampling, pump testing and hydrogeological testing, to advance the inferred resource calculations at Urgakh Naran. Work on sampling will commence in the coming weeks.”
The company also announced it has completed a non-brokered private placement for aggregate gross proceeds of $40,000.
The proceeds from the issuance of the Shares will be used primarily for exploration activities at the company’s properties, as well as for general corporate purposes.
For further information please visit: https://www.ionenergy.ca/