09:28 AM EDT, 05/06/2025 (MT Newswires) -- Lithium Ionic ( LTHCF ) on Tuesday released an updated mineral resource estimate for its 100%-owned Bandeira Lithium Project in Minas Gerais, Brazil.

The company reported a measured and indicated mineral resource estimate (MRE) of 27.27 million tonnes grading 1.34% lithium oxide, containing 901,059 tonnes of lithium carbonate equivalent (LCE), with an additional inferred MRE of 18.55 million tonnes grading 1.34% lithium oxide, or 615,432 tonnes of LCE.

A statement noted that the updated mineral resource estimate, based on 297 drill holes (60,301 metres), drilled between April 2022 and September 2024, increases the consolidated, global mineral resources to 36.76 million tonnes grading 1.31% lithium oxide in the measured and indicated category, in addition to 31.87 million tonnes grading 1.19% lithium oxide in the inferred category.

The company said that the measured and indicated growth reflected a 30% increase in tonnage compared to the MRE used in its feasibility study announced on May 29, 2024, and a 15% increase compared to the MRE announced on April 12, 2024.

The Canadian mining company added that it intends to incorporate the new MRE into an updated feasibility study, expected in the second half of 2025.

"Bandeira continues to grow substantially while maintaining consistent grade, further validating its robustness and scale potential," said Lithium Ionic ( LTHCF ) Chief Executive Blake Hylands. "This updated resource supports our mine planning efforts and will be an important input as we work through detailed engineering and evaluate future production scalability."