Lithium Chile Announces TSX Approval for Joint Venture with Apollo Gold on Apolo and Sancarron Gold Properties
Lithium Chile Announces TSX Approval for
Joint Venture with Apollo Gold on Apolo and
Sancarron Gold Properties
Calgary, Alberta--(Newsfile Corp. - August 12, 2020) -
Lithium Chile Inc. (TSXV: LITH) (OTC Pink:
LTMCF) ("
Lithium Chile
" or the "
Company
") is pleased to announce that the TSX has approved the
joint venture agreement with Apollo Gold Corp. ("Apollo Gold") on the Apolo and Sancarron prospects
as announced in a Apollo Gold (formerly Inform Resources Corp.) press release dated April 2, 2020.
The approval will allow for Apollo's exploration program to commence as soon as possible and the
second payment of $50,000 to be made to Lithium Chile.
As announced in a Lithium Chile press release dated April 8, 2020, the Company entered into a joint
venture agreement, dated March 25, 2020, where Apollo Gold has the right to earn up to 90% in the
Apolo and Sancarron concessions by making total cash payments to Lithium Chile of $1,350,000 and
incurring an aggregate $5,000,000 of expenditure on the properties over a maximum of 5 years.
It is currently anticipated that Apollo Gold will launch an initial work program on the properties in
November of 2020 to coincide with spring in Chile. This initial program is designed to test and expand
on prior sampling programs undertaken on the properties.
Steve Cochrane, President and CEO of Lithium Chile, comments:
"We are excited now that Apollo Gold
has received final approval from the TSX on our joint venture agreement. We look forward to Apollo's
work program as it will help support our belief in the exploration potential of not only Apolo and
Sancarron but all of our properties."
About Lithium Chile
Lithium Chile is advancing a lithium property portfolio consisting of 110,280 hectares covering sections
of 11 salars and two laguna complexes in Chile.
Lithium Chile also owns the Carmona and La Fortuna gold-silver-copper properties that lie on the
western flank of Chile's Mega porphyry copper-gold belt.
Lithium Chile's common shares are listed on the TSX-V under the symbol "
LITH
" and on the OTC-BB
under the symbol "
LTMCF
".
To find out more about Lithium Chile Inc., please contact Steven Cochrane, President and CEO via
email:
or alternately, Jeremy Ross, Business Development, at (604) 537-7556 or
via email:
. Chilean contact is Terry Walker, VP Exploration at (011) 562 2455-
6473 or via email:
.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS
THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
NOT FOR RELEASE IN THE UNITED STATES OF AMERICA
Forward Looking Statements
This news release may contain certain forward-looking information and forward-looking statements
within the meaning of applicable securities legislation (collectively "forward-looking statements").
Generally, forward-looking information can be identified by the use of forward-looking terminology such
as "expects", "believes", "aims to", "plans to" or "intends to" or variations of such words and phrases or
statements that certain actions, events or results "will" occur. In particular, this news release contains
forward-looking statements relating to, among other things, the closing of the second tranche of the
private placement, statements pertaining to the use of proceeds, and the Company's ability to obtain
necessary approvals from the TSX Venture Exchange.
You are cautioned that the following list of material factors and assumptions is not exhaustive. Specific
material factors and assumptions include, but are not limited to: the general stability of the economic and
political environment in which the Company operates; the timely receipt of required regulatory approvals;
the ability of the Company to obtain future financing on acceptable terms; currency, exchange and
interest rates; operating costs; the success the Company will have in exploring its prospects and the
results from such prospects. Accordingly, readers should not place undue reliance on forward-looking
statements. The Company does not undertake to update any forward-looking statements herein, except
as required by applicable securities laws. All forward-looking statements contained in this news release
are expressly qualified by this cautionary statement.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/61524