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TORONTO, Nov. 21, 2023 (GLOBE NEWSWIRE) — Lithium Ionic Corp. (TSXV: LTH; OTCQX: LTHCF; FSE: H3N) (“Lithium Ionic” or the “Firm”), a lithium exploration and improvement firm centered on changing into Brazil’s subsequent important lithium producer, is happy to report a serious milestone with the applying of a Concomitant Environmental and Set up License (“LAC”, or Licença Ambiental Concomitante in Portuguese) submitted to the State of Minas Gerais for the development and improvement of its Bandeira lithium Undertaking (“Bandeira”).
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The Preliminary Financial Evaluation (“PEA”) for Bandeira introduced final month outlined an underground mining operation which supplies a diminished environmental footprint relative to different improvement choices. This improvement method qualifies the Bandeira challenge as a candidate for the accelerated LAC license that might outcome within the environmental and social license, along with an authorization to start development.
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As a part of the applying, the Firm submitted each an RCA (Environmental Management Report) and PCA (Environmental Management Plan) which have been underway since March 2023 by native environmental consultancy group, NEO Agroambiental Ltda., with help from Lithium Ionic’s technical staff.
The entire Firm’s properties and tasks, together with Bandeira, have been acknowledged as “precedence tasks” throughout the state of Minas Gerais authorities, which is predicted to speed up the licensing overview course of for challenge development and operations (see press launch dated July 19, 2023).
Blake Hylands, P.Geo., CEO of Lithium Ionic, commented, “The submission of the LAC allow utility marks a serious milestone on our improvement path in the direction of changing into a near-term producer of high-quality lithium focus. We’re happy that Minas Gerais state officers acknowledge the significance of supporting the event of the battery supplies sector within the area and we’re assured that having our challenge on their precedence enterprise improvement record will lead to our utility being evaluated accordingly, directly.”
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The Bandeira challenge covers 175 hectares, or roughly 1% of its massive 14,182-hectare land package deal within the northern a part of Minas Gerais State inside a area lately coined “Lithium Valley” by state officers, which is rising as a globally important producer of high-quality lithium focus. Two lithium producers at the moment function within the area, situated between 800 metres and 4 kilometres from the Bandeira challenge.
The Firm is at the moment endeavor an unbiased NI 43-101 compliant Feasibility Research (“FS”), together with an up to date MRE, anticipated to be accomplished in early 2024. The FS follows a Preliminary Financial Evaluation (“PEA”), which showcased a viable and extremely financial mining challenge. The PEA, which had a drill information cut-off of August 30, 2023 with respect to the MRE, supported 20-years of low-cost spodumene focus manufacturing with a post-tax Web Current Worth (“NPV”)8% of US$1.6 billion (~C$2.2 billion) and an Inside Price of Return (“IRR”) of 121% (see particulars of the PEA within the press launch dated October 19, 2023).
About Lithium Ionic Corp.
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Lithium Ionic is a Canadian mining firm exploring and creating its lithium properties in Brazil. Its Itinga and Salinas group of properties cowl 14,182 hectares within the northeastern a part of Minas Gerais state, a mining-friendly jurisdiction that’s shortly rising as a world-class hard-rock lithium district. Its Feasibility-stage Bandeira Undertaking is located in the identical area as CBL’s Cachoeira lithium mine, which has produced lithium for +30 years, in addition to Sigma Lithium Corp.’s Grota do Cirilo challenge, which hosts the most important hard-rock lithium deposit within the Americas.
Certified Individuals
The technical data on this information launch has been ready by 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 accredited the content material on this information launch.
Investor and Media Inquiries:
+1 647.316.2500
information@lithiumionic.com
Cautionary Word Relating to Ahead-Wanting Statements
This press launch incorporates statements that represent “forward-statements.” Such ahead trying statements contain identified and unknown dangers, uncertainties and different components that will trigger the Firm’s precise outcomes, efficiency or achievements, or developments to vary materially from the anticipated outcomes, efficiency or achievements expressed or implied by such forward-looking statements. Though the Firm believes, in gentle of the expertise of its officers and administrators, present circumstances and anticipated future developments and different components which were thought of applicable that the expectations mirrored on this forward-looking data are affordable, undue reliance shouldn’t be positioned on them as a result of the Firm can provide no assurance that they’ll show to be appropriate. When used on this press launch, the phrases “estimate”, “challenge”, “perception”, “anticipate”, “intend”, “anticipate”, “plan”, “predict”, “could” or “ought to” and the destructive of those phrases or such variations thereon or comparable terminology are supposed to establish forward-looking statements and knowledge. The forward-looking statements and knowledge on this press launch embrace data referring to the prospectivity of the Firm’s mineral properties, the financial viability of the Bandeira, the mineralization and improvement of the Firm’s mineral properties, the Firm’s exploration program and different mining tasks and prospects thereof, the Firm’s skill to finish a Feasibility Research, the Firm’s skill to finish an environmental impression evaluation and procure the requisite allowing and approvals and the Firm’s future plans. Such statements and knowledge replicate the present view of the Firm. Dangers and uncertainties that will trigger precise outcomes to vary materially from these contemplated in these forward-looking statements and knowledge. By their nature, forward-looking statements contain identified and unknown dangers, uncertainties and different components which can trigger our precise outcomes, efficiency or achievements, or different future occasions, to be materially completely different from any future outcomes, efficiency or achievements expressed or implied by such forward-looking statements. The forward-looking data contained on this information launch represents the expectations of the Firm as of the date of this information launch and, accordingly, is topic to vary after such date. Readers mustn’t place undue significance on forward-looking data and mustn’t depend upon this data as of another date. The Firm undertakes no obligation to replace these forward-looking statements within the occasion that administration’s beliefs, estimates or opinions, or different components, ought to change.
Data and hyperlinks on this press launch referring to different mineral useful resource firms are from their sources believed to be dependable, however that haven’t been independently verified by the Firm.
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