Ion Energy identifies new lithium discovery: White Wolf Prospect, with highly-encouraging results up to 1,502 ppm

ION Energy Limited has announced a new lithium discovery, the White Wolf Prospect, at its 100% owned Baavhai Uul Lithium Salar Project in south eastern Mongolia.

The Company has deployed three Auger Rigs on the Baavhai Uul Lithium Salar project and has now completed an initial shallow drilling program consisting of 222 drill holes. Holes were drilled to a maximum depth of six metres with samples being collected every 0.50 metre. Drill holes were located over 1 kilometre apart, and this represents a broad first pass of the licences prospectively. Initial drilling results received from only 12.5% of samples collected have been highly encouraging with a new lithium discovery being made at the White Wolf Prospect. Results of additional drill holes will be delivered to the Company over the coming months.

“The ION team is extremely pleased with these very early drilling results. This is an extensive regional drilling program and we are already seeing new prospects being discovered at White Wolf that will warrant follow-up drilling. Exploration programs at the company’s projects in Mongolia remain ongoing and further results are expected over the coming months.” says Ali Haji, CEO & Director of ION Energy Ltd.


The Company also announces that it has granted to certain consultants and insiders of the Company an aggregate of 235,000 incentive stock options (the “Stock Options”) to purchase common shares under the Company’s incentive stock option plan (the “Plan”). Each Stock Option is exercisable into a common share of the Company at a price of $0.55 for a period of two years from the date of grant. The Stock Options will vest immediately and be subject to the terms and conditions of the Plan and the policies of the TSX Venture Exchange.


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