Entering text into the input field will update the search result below

ION Energy Makes New Lithium Discovery With Up To 1,502 Ppm In Mongolia

Dec. 02, 2021 11:35 AM ETIon Energy Ltd. (IONGF)
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Seeking Alpha Analyst Since 2013

Leading German resources and investing platform. In business since 2001 concentrating on precious metals and precious metals stocks with a new, strong focus on green mining and technology.


  • Drilling only just started.
  • Just 12.5% of results in.
  • Lithium values of up to 1,502 ppm.

ON Energy Limited (TSXV: ION; FRA: 5YB) reports a new lithium discovery from its Baavhai Uul Lithium Salar project in southeastern Mongolia. Geologists have christened the new discovery the White Wolf Prospect. A total of 222 auger holes with a total length of 1304.5 meters have been drilled. To date, only 12.5% of the drill results have been delivered.

Management considered the initial drill results "very encouraging", with the new discovery on the White Wolf Prospect standing out in particular. Hole AU-17 returned results of up to 1,502 ppm lithium in clays and evaporites, with the hole averaging 700 ppm lithium from as shallow as 0.5 to 3.5 meters. Drill hole AU-20 averaged 650 ppm lithium at a depth of 4 m to 6 m, with the final sample from the hole returning 860 ppm lithium.

The Company has deployed three drill rigs on the Baavhai Uul Lithium Salar project and has now completed an initial shallow drilling program of 222 holes. Holes were drilled to a maximum depth of six meters with samples taken every 0.50 meters. Holes were drilled over 1 kilometer spacing, representing an initial comprehensive pass through the concessions. Results from additional drill holes will be received by the Company in the coming months.

Ali Haji, CEO & Director of ION Energy Ltd explained, "The ION team is extremely pleased with these very early drill results. This is an extensive regional drill program and we can already see that further drilling is warranted at White Wolf."Exploration programs at the Company's projects in Mongolia continue and further results are expected in the coming months

ION Energy Baavhai Uul liegt in der Wüste Gobi

Figure 1: Baavhai Uul is located in the Gobi Desert. The project is on the doorstep of the world's largest lithium consumer, China.

ION Energy Viel Gegend. Bohranlage in Baavhai UulFigure 2: A lot of territory. Drilling rig at Baavhai Uul.

ION Energy Ltd. is dedicated to exploring and developing Mongolia's lithium salars. ION's flagship project is the Baavhai Uul lithium brine project, which covers over 81,000 hectares. In addition, ION also owns the over 29,000 hectare highly prospective Urgakh Naran lithium brine license in Dorngovi Province, Mongolia.

Conclusion: ION Energy's Baavhai Uul exploration area is about eight times the size of the Vancouver metropolitan area. Even 222 drill holes are only the beginning, and it should be noted that only 12.5 percent of these have been published. This makes the rapid success all the more remarkable. The measured lithium contents are in no way inferior to the contents known from known salars in South America. The difference, however, is that Mongolia is strategically located on the doorstep of the large Chinese lithium industry. One can well imagine that some of the Chinese players are already following ION Energy's results with growing interest. ION Energy could be at the start of something really big. We'll stay tuned to the story.

Disclaimer: GOLDINVEST Consulting GmbH offers editors, agencies and companies the possibility to publish comments, analyses and news on goldinvest.de. These contents serve exclusively the information of the readers and do not represent any kind of call to action, neither explicitly nor implicitly they are to be understood as an assurance of possible price developments. Furthermore, they are in no way a substitute for individual expert investment advice and do not constitute an offer to sell the stock(S) discussed or a solicitation to buy or sell securities. This is expressly not a financial analysis, but explicitly promotional / journalistic texts. Readers who make investment decisions or carry out transactions on the basis of the information provided here do so entirely at their own risk. There is no contractual relationship between the GOLDINVEST Consulting GmbH and its readers or the users of its offers, because our information refers only to the company, but not to the investment decision of the reader. The acquisition of securities involves high risks, which can lead to a total loss of the invested capital. The information published by GOLDINVEST Consulting GmbH and its authors is based on careful research. Nevertheless, any liability for financial losses or the content guarantee for topicality, correctness, adequacy and completeness of the articles offered here is expressly excluded. Please also note our terms of use.

According to §34b WpHG (Germany) and according to Paragraph 48f paragraph 5 BörseG (Austria) we would like to point out that GOLDINVEST Consulting GmbH, partners, authors, clients or employees of GOLDINVEST Consulting GmbH hold shares of Ion Energy and therefore a conflict of interest exists. GOLDINVEST Consulting GmbH also reserves the right to buy or sell shares of the company at any time. Under certain circumstances this can influence the respective share price of the company.

GOLDINVEST Consulting GmbH currently has a remunerated contractual relationship with the company, which is reported on the website of GOLDINVEST Consulting GmbH as well as in the social media, on partner sites or in email messages. The above references to existing conflicts of interest apply to all types and forms of publication that GOLDINVEST Consulting GmbH uses for publications on Ion Energy. We also cannot exclude that other stock letters, media or research firms discuss the stocks we recommend during the same period. Therefore, symmetrical information and opinion generation may occur during this period. No guarantee can be given for the correctness of the prices mentioned in the publication.

Analyst's Disclosure: I/we have a beneficial long position in the shares of IONGF either through stock ownership, options, or other derivatives.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.