Lithium Chile Intersects Highest Lithium Grades Averaging 656 Mg/L from Production Hole ARGENTO-06
LITHIUM CHILE INTERSECTS HIGHEST LITHIUM GRADES
AVERAGING 656 MG/L FROM PRODUCTION HOLE ARGENTO-06
TSX Venture Exchange: LITH For Immediate Release
OTC-QB: LTMCF
CALGARY , ALBERTA, July 10, 2024 – Lithium Chile Inc. (“ Lithium Chile ” or the “ Company”) is
pleased to provide an operaƟonal update on its Salar de Arizaro Project in ArgenƟna. Lithium Chile
has made significant advancements in its northeastern Arizaro claims. The latest sampling results
from hole ARGENTO-06 are included.
HIGHLIGHTS:
Lithium Brine Sampling Results from ARGENTO-06:
Three AirliŌ samples were taken over a 48-hour period returning the following
lithium values:
o 652 mg/l Li
o 654 mg/l Li
o 662 mg/l Li
These significant concentraƟons are anƟcipated to increase the resource volume
aƩributed to the area of the well – in the northeastern porƟon of the Arizaro claims
– which will also lead to classifying the resource into at least the indicated category.
ARGENTINA OPERATIONS - ARIZARO PROJECT:
The ARGENTO-06 rotary hole was drilled to a depth of 602-metres with a brine-rich, sandy
formaƟon encountered from 161 to 500-metres. The samples, recovered using airli Ō, were sent
to Alex Stewart Laboratory in Jujuy, ArgenƟna. Sampling reported an average grade of 656 mg/l LI
from a depth of 282-metres.
This result represents significant explora Ɵon progress for the northern por Ɵon of the Arizaro
project, where the Company has previously reported inferred resources in its NI 43-101 Compliant
Resource Report. These sampling results are expected to increase the exisƟng 4,122,000 tonnes
of lithium carbonate equivalent resource and are expected to upgrade the resource category to
at least the indicated category and possibly into the measured category.
Steve Cochrane, President & CEO, remarked, "The results achieved from this new hole are yet
another important step in our strategic process. The enhanced grades will drive increased
resource volumes and transiƟon us into the more confident indicated and measured resource
classificaƟons! We remain exceedingly confident that our Arizaro project is world class!”
Lithium Chile’s President for South America, José de Castro, says: "We are immensely proud of
our excepƟonal team in ArgenƟna. Their unique experience in previous lithium projects has been
instrumental in creaƟng value for all of our stakeholders including the communiƟes in which we
work. As we conƟnue to progress towards a revised resource report and the compleƟon of a
feasibility study, we remain steadfast in our mission to add value and realize the full potenƟal of
the Arizaro project."
PREFEASIBILITY STUDY:
On June 28, 2024, the Company received preliminary results of the Prefeasibility Study (“PFS”)
being prepared on the Arizaro project. Those preliminary results supported management’s belief
that significantly posiƟve revisions to project resource esƟmates and their inherent value would
be forthcoming. The PFS is in the final phases of being completed for publicaƟon and
disseminaƟon. Those posiƟve results are expected to be communicated to stakeholders in short
order.
QUALIFIED PERSON, QA/QC STATEMENTS:
Leandro Sastre has reviewed and approved the scien Ɵfic and technical content of this news
release. Mr. Sastre is a geology professional with over 22 years of experience in the internaƟonal
mining sector . Leandro has worked extensively throughout La Ɵn America with a focus on
ArgenƟna, Chile and Peru.
ABOUT LITHIUM CHILE:
Lithium Chile is an exploraƟon and lithium resource company with a property porƞolio
consisƟng of 111,978 hectares in Chile and 29,245 hectares in ArgenƟna. The Company has filed
its NI 43 – 101 Compliant Resource Report as well as a NI 43 - 101 Compliant Preliminary
Economic Assessment each of which can be viewed on the Company’s profile at SedarPlus.ca
Lithium Chile also owns 5 properƟes totaling 22,529 hectares that are prospecƟve for gold, silver
and copper.
Lithium Chile’s common shares are listed on the TSX-V under the symbol “LITH” and on the
OTCQB Under the symbol “LTMCF”.
To find out more about Lithium Chile, please contact Steven Cochrane, President and CEO via
email: [email protected] or Michelle DeCecco, COO via email: [email protected]
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.
FORWARD LOOKING STATEMENTS:
This news release may contain certain forward-looking informaƟon and forward-looking
statements within the meaning of applicable securiƟes legislaƟon (collecƟvely "forward looking
statements"), Generally, forward-looking statements can be idenƟfied using forward-looking
terminology such as "expected", "anƟcipated", "aims to", "plans to" or "intends to" or variaƟons
of such words and phrases or statements that certain acƟons, events or results "will" occur. Such
forward-looking statements are based on various assumpƟons and factors that may prove to be
incorrect, including, but not limited to, factors and assumpƟons with respect to the general
stability of the economic and poliƟcal environment in which the Company operates and the
Ɵmely receipt of required regulatory approvals. You are cauƟoned that the foregoing list of
material factors and assumpƟons is not exhausƟve. A descripƟon of assumpƟons used to
develop such forward-looking informaƟon and a descripƟon of risk factors that may cause actual
results to differ materially from forward-looking informaƟon can be found in Lithium Chile's
disclosure documents on the SEDAR+ website at www.sedarplus.ca. Although Lithium Chile
believes that the assumpƟons and factors on which such forward-looking statements are based
upon reasonable assumpƟons, undue reliance should not be placed on the forward-looking
statements because Lithium Chile can give no assurance that they will prove to be correct or
that any of the events anƟcipated by such forward-looking statements will transpire or occur , or
if any of them do, what benefits Lithium Chile will derive therefrom. Lithium Chile does not
undertake to update any forward-looking statements herein, except as required by applicable
securiƟes laws. All forward-looking statements contained in this news release are expressly
qualified by this cauƟonary statement.