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A drill rig at Lithium Ionic’s Bandeira project in northern Minas Gerais state in Brazil. Credit: Lithium IonicO over 27 metres from 55 metres depth, in drillhole ITDD-23-213. It’s one of 23 holes drilled at Bandeira, located in northern Minas Gerais state, Lithium Ionic said in a news release.“We continue to unlock further value at Bandeira with these latest high-grade results,” Lithium Ionic CEO Blake Hylands said in the release.
Earlier in April, Lithium Ionic announced an initial resource for Salinas. It comprises 5.9 million measured and indicated tonnes at 1.09% LiA PEA was completed for Bandeira last October, which outlined an underground mine project with a post-tax net present value of US$1.6 billion and an internal rate of return of 121%, at capital costs of US$233 million. The PEA gave Bandeira average life-of-mine output of 217,700 tonnes per year of high-quality spodumene at 5.
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