Lithium Chile Provides Corporate Update and Announces Expansion to its Helados Prospect
Lithium Chile Provides Corporate Update and
Announces Expansion to its Helados Prospect
TSX Venture Exchange: LITH
OTC-QB: LTMCF
CALGARY
,
Nov. 20, 2018
/CNW/ -
Lithium Chile Inc. ("Lithium Chile"
or the "
Company
") is
pleased to provide shareholders with an operational update.
SALAR DE COIPASA: While Lithium Chile has successfully negotiated terms for surface access to
the salar de Coipasa with the community executive, the Company is currently waiting for final
approval by the community council. Once that occurs, a reconnaissance drilling program will
commence immediately. At 129 km
2
(as shown on the map below) Coipasa is Lithium Chile's
second largest lithium prospect upon which a very large and highly conductive target, covering 65%
of the property, was identified during the geophysical survey completed in the first quarter of 2018.
Coipasa Geophysics (CNW Group/Lithium Chile Inc.)
SALAR DE HELADOS: Lithium Chile is pleased to announce that it has acquired an additional 2000
hectares on the Salar Laguna Blanca which is a NW extension to Lithium Chile's landholdings in the
Helados basin. A recent reconnaissance sampling program conducted at surface and
1.3m
depth
returned lithium concentrations of 220 -780 mg/l with Mg:Li ratios of 5.7 – 6.0 which are on par with
the Company's main property complex to the SE.
SALAR DE TURI: Lithium Chile is also pleased to announce that the executive committee of the local
indigenous community at Salar de Turi has recently reached out to the Company to discuss possible
exploration of their lands. At a recently held meeting, community executives expressed their
willingness to support an extension of the TEM geophysical survey on Turi. Subject to the
successful completion of that TEM program, community executives also expressed their willingness
to support a follow up drilling program. This is significant for two reasons. First and most
importantly, this is the first time a local community has initiated discussions with the Company
regarding surface access for an exploration program on a prospect controlled by the local
community. Management views this willingness to work with the Company as encouraging and
reflects the professionalism the Company has exhibited in its community relations work to date.
Secondly, Lithium Chile controls 100% of the 7600 hectare Salar de Turi. As with its other
properties, Lithium Chile owns its interests outright with no additional option payments, no overriding
royalties nor any other such encumbrances. With two hydrothermal springs located on the property
having surface brine sample grades exceeding 580/l mg, the Company has made Turi one of its 6
priority properties.
Steve Cochrane President
and CEO of Lithium Chile commented "We are very encouraged by the
traction we are gaining with the local communities to further our exploration efforts. We are pleased
and grateful for their ongoing support."
Qualified Person
Mr.
Terence Walker
, M.Sc., P.Geo, qualified person within the meaning of National Instrument 43-
101, has reviewed the contents of this news release.
About Lithium Chile
Lithium
Chile
is advancing a lithium property portfolio consisting of 159,700 hectares covering
sections of 15 salars and 1 laguna complex in
Chile
.
Lithium
Chile's
common shares are listed on the TSX-V under the symbol "
LITH
" and on the OTC-
QB under the symbol "
LTMCF
".
On Behalf of the Board of Directors,
LITHIUM
CHILE
INC.
Steven Cochrane
President & CEO
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 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.
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 press release are expressly qualified by this cautionary
statement.
SOURCE
Lithium Chile Inc.
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For further information:
To find out more about Lithium Chile Inc., please contact Steven
Cochrane, President and CEO via e mail: [email protected] or alternately, Jeremy Ross, VP
Business Development, at (604) 537-7556 or via email: [email protected].
CO: Lithium Chile Inc.
CNW 10:35e 20-NOV-18