1.5% gross revenue royalty on a lithium brine, copper and nickel early-stage exploration project in Mongolia
Ion Energy Ltd.
Lithium (Brine), Copper, Nickel
1.5% Gross Revenue Royalty
- In August 2022, Aranjin Resources Ltd. announced the “Victory Copper Nickel Discovery” at the project site, following an 814-auger geochemical drill hole program.
- Auger results include up to 1,252 ppm copper and 494 ppm nickel in weathered gabbroic clays.
- The Baavhai Uul project represents one of Mongolia’s largest exploration licenses (over 80,000 hectares) with reciprocal exploration agreements by Aranjin Resources Ltd. and Ion Energy Ltd. The project is one of the most prospective targets for lithium brine (average grade results of 426 ppm lithium with maximum grade results of 811 ppm lithium) as well as recently-discovered copper-nickel anomalies under shallow alluvial cover.
- The project is located 30 km by paved road to the Chinese border, where five Gigafactories are either planned or under construction.