Ion Energy is Mongolia’s first Lithium brine explorer and developer. Ion Energy is an early stage Lithium brine exploration company, formed in 2017 and in 2019 they were granted a 81,000 ha exploration license close to the Chinese border which is the largest land package ever given to a public or private company by the Mongolian government.
The company went public in August and is trading on the TSX venture on the back of the renewed interest in battery metals which is mostly prompted by government spending.
The Baavhavi Uul 80,000 ha project is highly prospective for Lithium brine with low potassium and Magnesium levels. Ion Energy started the exploration at Baahavi in October with significant levels of Lithium revealed to date. This included a geophysics programme and will move onto a microseismic shortly with the prospect of licensing looking promising.
Ion Energy has an experienced team in Mongolia which as a country is very underexplored. The company plans to acquire assets where work has already been carried out and to de-risk them further at which point they will bring in a strategic company as a JV or exit entirely rather than to bring the projects into production themselves.
Ion Energy is fully funded for their 2021 exploration programme and results will be released to the market as an early resource estimate. The company also has announcements to make regarding additional licenses for acquisition in country which could be hard rock, spodumene acquisitions.
Ion Energy will continue to de-risk the Baahavi project and aims to start conversations with strategic companies by the end of the year. As one of the younger stories in the Lithium space, Ion Energy is poised to become a significant player in the Lithium market and they are hopefully timing their entry just right.
Company Page: https://www.ionenergy.ca/
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