Lithium Chile Reports GOLD Grades of 9.3 G/T GOLD and Silver Grades of 264 G/T from the Second Phase of Its Sampling Program at Carmona
LITHIUM CHILE REPORTS GOLD GRADES OF 9.3 G/T GOLD AND SILVER GRADES
OF 264 G/T FROM THE SECOND PHASE OF ITS SAMPLING PROGRAM AT
CARMONA
TSX Venture Exchange: LITH For Immediate Release
OTC-BB: LTMCF
CALGARY, ALBERTA, December 15, 2020 – Lithium Chile Inc. (“Lithium Chile” or the “Company”)
is pleased to report the recent completion of additional sampling on its 100% owned Carmona
gold and silver property.
Background:
As a result of the strong results achieved from the Company’s October sampling program on the
Carmona property’s Southern Zone (see press release dated November 21 , 2020) additional
sampling of the zone was completed in November 2020.
Highlights:
• Recent soil sampling more than doubles Au – Ag - Cu anomaly to 1.8 km2.
• Additional rock chip samples from 1 – 3m wide veins range up to 9.3g/t gold, 264g/t silver
and 4.69% copper.
• Numerous mineralized veins and breccias are concentrated in a 300m wide by 900m long
zone on the SW flank of the soil anomaly.
This second sampling program uncovered additional copper oxide, secondary chalcocite,
chalcopyrite, bornite and pyrite bearing veins and breccia zones that define a NE-SW trending
300m wide and 900m long zone with in the gold-silver-copper soil anomaly that was identified
during the earlier phase of sampling.
While the bulk of the assays are pending, results reported to date have increased the size of the
anomaly to 1.8 km2 and rock sample assays from the new veins discovered within the Southern
Zone include the following results
• 5.9g/t to 9.3 g/t gold with
• 133 g/t to 264 g/t silver with
• 1.09% to 4.69% copper with
• 0.11% cobalt
The Company continues to be highly encouraged by the results from the Southern Zone and once
all of the sample results have been received and evaluated , the Company plans to carry out an
Induced Polarization geophysical survey with a view to establishing priority targets for a
reconnaissance drilling program.
To facilitate mapping and continued exploration activities on the Central Zone t he Company is
currently upgrading its access ro ad into the Central Zone from which previous rock samples
returned assays up to 26.2 g/t gold and 23 5 g/t silver (see press release dated September 3 ,
2020).
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Steve Cochrane, President and CEO of Lithium Chile comment ed: “We continue to see excellent
results coming from our exploration efforts on our Carmona prospect where we have now
identified 3 separate gold and silver bearing anomalies totaling 26 square kilometers . We look
forward to providing our shareholders regular updates as we continue to advance this exciting
project.
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. During the course of the exploration
program all samples were collected by experienced Lithium Chile staff. Each sediment and soil
sample was sieved in the field to obtain about I kg of 18 mesh fines, bagged and sealed on site.
Each rock sample consisted of 1 -1.5 kg of representative chips taken continuously from outcrop
or across mineralized structures, was bagged and sealed on site. All samples were delivered by
Lithium Chile’s staff to the ALS prep-lab in La Serena for processing. ALS subsequently shipped a
30g sub-sample pulp to their laboratory in Lima, Peru where they were analyzed for gold by fire
assay pre-concentration, AA finish and 35 other elements, including copper and silver, by the ICP
technique following Agua Regia digestion.
About Lithium Chile
Lithium Chile is advancing a lithium property portfolio consisting of 71,900 hectares covering
sections of 10 salars and two laguna complexes in Chile.
Lithium Chile now also owns 5 properties that are prospective for gold, silver and copper. The
Carmona property lies in the heart of the Chilean Mega Porphyry copper, gold and silver 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, Terry Walker, VP Exploration at (011) 562 2455 -
6473 or 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.
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 assay results and plans for follow up exploration activities.
You are cautioned that the followin g 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 a nd
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.