Lithium Chile Provides Ollague Drilling Program Update TSX Venture Exchange: "LITH"
Lithium Chile Provides Ollague Drilling
Program Update
TSX Venture Exchange: "LITH"
OTC-QB: LTMCF
CALGARY
,
July 23, 2018
/CNW/ - Lithium Chile Inc. ("
Lithium
Chile
") is pleased to provide an
update on the ongoing drill program at its wholly-owned Ollague project, located in the Antofagasta
Region of
Chile
.
The first hole, DDH-OLL-01-18, encountered a porous brine saturated salt/sand horizon at a depth
of 110 meters which continued to a depth of 290 meters. These depths coincided with the main low
conductivity zone detected by the transient electromagnetic survey completed by Lithium Chile on the
property during March, 2018 ("TEM" - see news release dated
April 3
, 2018). DDH-OLL-01-18 was
terminated at 300 meters depth after penetrating the Salar basement at 290 meters. The drill rig is
now set up on platform 2, located 2 kilometres SW of DDH-OLL-01-18.
In addition to recovering core during the drilling of DDH-OLL-01-18, a fluid sampling program was
completed. This consisted of collecting of 1 litre samples at 20-25 meter intervals throughout the 180
meter thickness of the porous zone. The samples were tested on site for salinity and conductivity
and then bottled and sealed on site for shipping to accredited laboratory, ALS Patagonia, for
chemical analysis.
DDH-OLL-01-18 is located approximately 1 kilometre from a historic test well where Lithium Chile
recently received assay results of 1220 mg/L lithium from newly taken downhole fluid samples.
This news release has been reviewed by
Terence Walker
, P. Geo., Vice President of Exploration
and a qualified person as that term is defined in National Instrument 43-101.
About Lithium Chile
Lithium
Chile
is advancing a lithium property portfolio consisting of 152,900 hectares covering
sections of 14 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. In particular, this news
release contains forward-looking statements relating to, among other things, management of the
Company's views regarding the current and subsequent drilling programs.
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 at (403) 853 7117 or 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 10:58e 23-JUL-18