Lithium Chile Begins Exploration Program ON Its 100% Owned Carmona GOLD Silver Property
LITHIUM CHILE BEGINS EXPLORATION PROGRAM ON ITS 100% OWNED
CARMONA GOLD SILVER PROPERTY
TSX Venture Exchange: LITH For Immediate Release
OTC-BB: LTMCF
CALGARY, ALBERTA, July 07, 2020 – Lithium Chile Inc. (“Lithium Chile” or the “ Company”) is
pleased to announce it has mobilized the Company’s geological team to begin the planned initial
exploration program on its Carmona gold/silver property. As discussed in the press release dated
June 11, 2020, it is the Company’s intention to expand its data base and knowledge on both the
Carmona gold/silver exploration project and the Laguna Blanca lithium/cesium exploration
prospect.
The initial exploration program at Carmona will consist of detailed geological mapping, rock
and soil sampling of the largest of the four , 2 to 4 km2 high-sulphidation epithermal gold -
silver-bearing alteration zones with in which historical mine production grades from 0.5 to
1.5 metre-wide veins range from 50 to 76 g (1.6 – 2.4 oz)/ton gold plus 780 to 1,153 g (25
– 37 oz)/ton silver. Lithium Chile has received interest from potential partners interested in
a joint exploration program on Carmona . The Company believes an u pdated exploration
program on Carmona will help facilitate the joint venture process. It is anticipated that the
exploration program will take approximately 3 0 to 40 days and be completed by mid-August
with assay results made available as they are received .
Lithium Chile anticipates moving its exploration team from Carmona to its Laguna Blanca lithium
prospect upon completion of the Carmona exploration program. It is hoped that by late August
Covid-19 r estrictions will have been relaxed sufficiently to allow the exploration team to
efficiently access the property. A grid sampling program of the surface sediments to depths of up
to 2m wherever possible will be carried out to provide systematic data on the distribution of
lithium and cesium values and resource potential within the eight-plus-square-kilometre
reconnaissance target area identified to date.
While the Covid -19 pandemic has delayed court proceedings in Chile the final compensation
award to the Community of Ancovinto allowing Lithium Chile’s drill program on Coipasa is still
pending and will be resolved when the courts reopen.
Steve Cochrane, President and CEO of Lithium Chile comments, “Given the level of interest in our
Chilean exploration projects I am excited to expand our knowledge on both our Carmona gold
play and the Laguna Blanca lithium/cesium prospects.”
Readers are cautioned that a “qualified person” (as defined by National Instrument 43 -101) has
not yet completed sufficient work to be able to verify the historical information, and therefore
the historical information should not be relied upon.
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About Lithium Chile
Lithium Chile is advancing a lithium property portfolio consisting of 1 10,280 hectares covering
sections of 11 salars and two laguna complexes in Chile.
Lithium Chile now also owns 5 properties that are prospective for gold, silver and copper. The
Carmona and La Fortuna properties lie in the heart of the Chilean Maricunga 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: [email protected] or alternately, Jeremy Ross, Business Development, at (604)
537-7556 or via email: [email protected]. Chilean contact is Terry Walker, VP Exploration
at (011) 562 2455-6473 or via email: [email protected].
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VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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identified by the use of forward -looking terminology such as "expects", "believes", "aims to", "plans to" or "intends to" or
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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 an d
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.