ION Energy Limited announced that hydrogeological studies have commenced at its Urgakh Naran lithium project in Mongolia.
This step in the exploration efforts is expected to lay the framework for NI 43-101 resource estimates at the site and guide future exploration work, the company said.
"As the first mover for lithium brine in Mongolia, and with the world's continued lithium supply constraints, our company is pleased that this work brings us a step closer towards resource estimates, and ensures ION Energy has the ability to disrupt the battery metals supply chain in Asia," CEO Ali Haji said in a statement.
"ION Energy's team remains encouraged by the positive results to date, and we expect the ongoing hydrogeological work to form the basis of a NI 43-101 Mineral Resource Estimate by Q3 2023. We believe that all of these critical steps will bring the Company closer to unearthing the vast potential that the Urgakh Naran asset represents."
Urgakh Naran is a 100%-owned, more than 29,000-hectare lithium project, located in Mongolia's Dorngovi Province, an infrastructure-rich region of the South Gobi Desert with major thoroughfares to the Chinese border.
Lithological results released in December 2022 have shown the basin to be impregnated.
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