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Itinga Properties

The Itinga basin, within the Eastern Brazilian Pegmatite Province (EBPP) is the largest lithium pegmatite province of South America and is emerging as a globally significant producer of high-purity lithium.

Lithium Ionic’s flagship Itinga Project is located in the state of Minas Gerais, Brazil’s most mining-friendly state in the country’s southeast region. The wholly-owned properties are situated approximately 25 km east of the town of Araçuaí (population of ~40,000) and 594 km northeast of Belo Horizonte, the state capital.

The Itinga properties are located in the municipalities of Araçuaí and Itinga. The Company’s two main NI 43-101 compliant lithium deposits, Bandeira and Outro Lado, are located in proximity to two lithium producers, Sigma Lithium Corp.’s Grota do Cirilo Project and Companhia Brasileira de Lítio’s (CBL) Cachoeira mine.

Total Mineral Resources (Bandeira + Outro Lado deposits):

Measured & Indicated:
16.69Mt grading 1.41% Li2O (~582kt LCE)
Inferred:
16.21Mt grading 1.34% Li2O (~538kt LCE)

BANDEIRA LITHIUM PROJECT

The Company began drilling Bandeira in April 2022, reporting an initial mineral resource estimate (“MRE”) in June 2023. In October 2023, an updated MRE at Bandeira showcased a near-doubling of the MRE, which formed the basis of a Preliminary Economic Assessment (“PEA”). This study supported a long-life and low-cost spodumene concentrate mining project with a post-tax Net Present Value (“NPV”)8% of US$1.6 billion (~C$2.2 billion) and an Internal Rate of Return (“IRR”) of 121% (see details of the PEA HERE).

Measured & Indicated:
13.72Mt grading 1.40% Li2O (~474,892kt LCE)
Inferred:
15.79Mt grading 1.34% Li2O (~523,118kt LCE)

Near-term Catalysts:

OUTRO LADO LITHIUM DEPOSIT

An initial mineral resource estimate for Outro Lado was reported on June 27, 2023, which considered drill data from 61 holes (7,659 metres). See the press release related HERE or the technical report HERE.

Measured & Indicated:
2.97Mt grading 1.46% Li₂O (107,599t LCE)
Inferred:
0.42Mt grading 1.48% Li₂O (15,168t LCE)

 

 

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