Current methods for estimating ion density on Swarm rely on the assumption of 100% O+ and no along-track ion velocity flows. These assumptions are routinely violated, particularly on the nightside and during high-latitude and polar cap traversals, compromising the accuracy of the measurements. The use of faceplate current data along with the Langmuir probe ion admittance measurements, and orbital-motion limited (OML) theory, make it possible to relax some of the assumptions inherent in current ESA Swarm density estimates. This further yields along-track ion drift and effective ion mass estimates. This paper describes the theoretical basis for estimating revised ion density, providing a new estimate for effective ion mass, as well as an alternative way of estimating along-track ion drift. The complete Swarm historical dataset has been generated and validated using empirical models (International Reference Ionosphere (IRI-2016), and Weimer (2005)), as well as ground-spacecraft conjunctions. Case studies and statistical results reveal clear geophysical signatures in the new product of light ions at low- and mid-latitudes and along-track ion drift at high latitudes, and their response to space weather.