Ion Energy Ltd. is a junior mineral mining company that explores and develops lithium resources located in Mongolia. In 2017, Ali Haji and Matthew Wood cofounded the company when they realized the lithium exploration and development opportunities while on a trip to Mongolia for some other mining business.
The Toronto-based natural resource mining company acquired its very first license for the Baavhai Uul Lithium Brine project. It is the flagship project that hosts lithium brine mineralization featuring low potassium (K) and magnesium (Mn) ratios
The Baavhai Uul Project encompasses a total land area of more than 80,000 hectares in the South Gobi Desert region, Mongolia, some 24 kilometers from the Chinese border. The mineralization at the site includes 426ppm of average grade lithium and 811 ppm of maximum grade lithium.
Ion Energy also owns the Urgakh Naran Lithium Brine Project in Dorngovi, Mongolia. This project is situated some 150 kilometers from the Baavhai Uul license.
The Urgakh Naran Project hosts lithium brine prospects spread over a land package of approximately 20,000 hectares. It is an early-stage exploration project and includes multiple prospective targets for follow-up exploration work.
The company is focused on exploration work to discover and evaluate mineralized target areas and exploit the full resource potential for the development of lithium brine projects in order to support the clean technology-driven increased lithium demand across the globe.
Ion Energy is a public corporation and got listed on the TSX Venture Exchange in 2020. The common shares of the lithium explorer are traded under the ticker symbol ION. The company is also listed on the OTCQB market and the Frankfurt Stock Exchange with its shares trading under stock symbols IONGF and 5YB, respectively.