ION Energy commences hydrogeological study at Urgakh Naran: on path towards lithium resource estimates

ION Energy Limited, Mongolia’s first lithium brine explorer and developer, has shared that hydrogeological studies have commenced at the 100%-owned Urgakh Naran site. This crucial step in the Company’s exploration efforts is expected to lay the framework for NI 43-101 resource estimates at this site, and guide future exploration work. Lithological results released in December 2022 have shown the basin to be impregnated.

As the first mover for lithium brine in Mongolia, and with the world’s continued lithium supply constraints, our Company is pleased that this work brings us a step closer towards resource estimates, and ensures ION Energy has the ability to disrupt the battery metals supply chain in Asia,” said Ali Haji, CEO & Director of ION Energy. “ION Energy’s team remains encouraged by the positive results to-date, and we expect the ongoing hydrogeological work to form the basis of a NI 43-101 Mineral Resource Estimate by Q3 2023. We believe that all of these critical steps will bring the Company closer to unearthing the vast potential that the Urgakh Naran asset represents.

This phase of hydrogeological testing is intended to serve as the foundation for upcoming NI 43-101 resource estimates and is expected to advance Urgakh Naran to a position in which an inferred resource can be calculated.

Urgakh Naran is a 100%-owned, +29,000 hectare lithium project, strategically located in Mongolia’s Dorngovi Province – an infrastructure rich region of the South Gobi Desert with major throughfares to the Chinese border.



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