ION Energy, Toronto, Canada, (TSXV: ION) (OTCQB: IONGF) (FRA: 5YB), has announced the acquisition of the Urgakh Naran Lithium Brine Project located in Mongolia’s Dorngovi Province. The name “Urgakh Naran” is Mongolian for “Rising Sun” and the Project covers an area of approximately over 19,000 hectares of highly prospective lithium terrain located 150km WNW of the Company’s flagship property, the Baavhai Uul Lithium Brine Project. The acquisition of the Urgakh Naran Project brings the total land area held by ION that is prospective for lithium salars to over 100,000 hectares (247,000 acres).
The Company acquired the Urgakh Naran Project as a result of its successful tender bid submitted to the Mineral Resource Authority of Mongolia. The total cost of acquiring the Urgakh Naran Project was approximately USD$310,000 for consulting, administrative and transfer tax costs.
“The acquisition of this project represents the further execution of our Company’s objectives to secure terrains highly prospective for the discovery of lithium salars. Ion Energy is a leader in Mongolia’s lithium exploration and development. It also solidifies Ion Energy’s long-term commitment to support our world’s green revolution by playing a key role in the supply chain. The Urgakh Naran Project is situated in the arid and infrastructure rich region of the South Gobi Desert”, commented ION’s CEO, Ali Haji. Work has already commenced to develop the exploration program on this highly prospective project. The Company will also be releasing results from its recently completed Geophysics program on the Baavhai Uul Lithium Brine Project.
Lithium mineralization at Urgakh Naran Project
Previous work conducted at the Urgakh Naran Lithium Brine Project has included a substantial Hydro-chemical sampling program of identified shallow lithium in brines. Although early stage, this program was highly successful in identifying multiple targets for follow up exploration. Ion Energy is already well into planning follow up exploration of the best of these exciting new targets.
All technical information in this press release has been reviewed and approved by Khurelbaatar Lamzav, P.Geo., an independent consultant to the Company and a “Qualified Person” under National Instrument 43-101.
About ION Energy Ltd.
ION Energy Ltd. (TSXV: ION) (OTCQB: IONGF) (FRA: 5YB) is committed to exploring and developing Mongolia’s lithium salars. ION’s flagship, 81,000+ hectare Baavhai Uul lithium brine project, represents the largest and first lithium brine exploration licence award in Mongolia. ION Energy also holds the 19,000+ hectare Urgakh Naran highly prospective Lithium Brine licence in Dorngovi Province in Mongolia. Energy is well-poised to be a key player in the clean energy revolution, positioned well to service the world’s increased demand for lithium.
