ION Energy Ltd. (TSX-V:ION, OTCQB:IONGF) said that a recent geophysical survey on its Urgakh Naran lithium brine project has detected high conductivity and low resistivity across the basin.
The TEM (Transient Electro Magnetic) survey identified very low resistivity northeast structures narrowing from the southwest to the northeast direction in the central licence of the Mongolia-based project, according to a statement from ION.
The company told shareholders that the 82 line-kilometre TEM survey was “highly successful” in meeting all of its objectives.
READ: ION Energy collects highest-grade lithium brine sample ever seen in Mongolia at its Urgakh Naran project
Surface brine sampling at 918 Mg/L lithium at Urgakh Naran along with the 1,502 ppm (parts per million) lithium seen at the White Wolf prospect at Baavhai Uul continue to display high prospectivity, according to ION.
Coupled with the TEM results, geophysics at Baavhai Uul have confirmed the potential for the development of a potentially large, deep highly conductive zone in the central part of the Urgakh Naran concession that supports ION’s geological exploration model.
CEO Ali Haji said that the TEM results suggest that the Urgakh Naran project's aquifer is large in size and shows low resistivity.
"On the back of surface samples of 918 Mg/L lithium (announced in May), these geophysics results further advance the hypothesis of a potential significant lithium brine deposit at the company's Urgakh Naran site," Haji told investors.
ION said it is currently assessing the data to determine suitable drill monitoring well locations to test the conductive zone at depth.
The firm is planning a three-hole monitoring well drill program in order to obtain samples for lithological description and porosity testing, flow rates and depth-specific brine samples that include chemical assays to support an early resource estimate, it added.
Toronto-based ION is advancing the over 29,000 hectare Urgakh Naran lithium brine licence in Dorngovi Province in Mongolia. Its flagship, 81,000-hectare Baavhai Uul lithium brine project represents the largest and first lithium brine exploration licence award in Mongolia.
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