|Operator||Ion Energy Ltd.|
|Terms||1.5% Gross Revenue Royalty|
- First ever drilling program successfully completed on a Lithium Salar project in Mongolia.
- 21 core drill holes completed for 823.2 metres.
- Brine samples collected and initial samples submitted for analysis.
- Basin targets remain open and brines intersected are shallow.
- Additional drilling and sampling is currently being planned.
- The Baavhai Uul project represents one of Mongolia’s largest exploration licenses (over 80,000 hectares) and one of the most prospective targets for lithium brine (average grade results of 426 ppm Li with maximum grade results of 811 ppm Li)
- The project is located 30 km by paved road to the Chinese border, where five Gigafactories are either planned or under construction
- Favourable geochemistry (low potassium and magnesium ratios for large crystal formation) and production characteristics (high evaporation and low precipitation endorheic basin)