Multi-Project Drill Campaign Aims at Delivering Results that Highlight Asset Values
Drill programs are, without question, the most exciting periods possible in the life of an exploration company and, as I write this, Lithium Chile’s technical team is working flat out preparing for our multi-project program in Chile.
These preparations follow hot on the heels of a series of geophysical surveys we conducted on our highest-profile projects. For anyone new to mineral exploration, it’s important to understand that surveys are an important step in identifying high-profile areas and, with the right analysis, planning specific drill targets.
If you missed our recent news releases, I’m delighted to highlight the fact that our recent surveys discovered a huge, 60km2 target area at the Helados project, as well as multiple large target areas of 20-25km2 at the Atacama and Ollague projects.
What’s more, these target areas coincide with the locations of our highest grades from the sampling program carried out earlier on these projects.
For the Helados project, which comprises 30,100 ha, sampling within the survey target area returned near-surface, high-grade results of up to 1280mg/l and excellent chemistry. This project is located 80 km east of the Salar de Atacama in the Andean Lithium Belt and is accessible year-round by paved highway and is just 50km from the town of San Pedro de Atacama.
In the case of Atacama, we’re talking about highs of more than 1300mg/l. In fact, our understanding of the Atacama target thus far, is that is has similar characteristics to the lithium-rich principal aquifers at Salar de Atacama, where SQM operates the world’s largest and highest-grade lithium brine mine.
Both Atacama and Ollague are also accessible year-round by paved highway, in proximity to the towns of San Pedro de Atacama and Calama. Also, our tests have once again shown first-rate chemistry, including a lithium-to-potassium ratio of 0.9 to 0.1 and a magnesium-to-lithium ratio of 2.6 to 7.1.
Of course, our land package extends far beyond the projects that will be included in the initial drill testing. In fact, we have 100% ownership of 15 projects covering 152,900 ha, over some of Chile’s most prospective lithium brine basins, or salars.
If you’ve not yet watched the video we recently filmed onsite at several of our projects, I thoroughly recommend taking a look and, as soon those drills go into the ground, I’ll be sure to alert shareholders.
Steve Cochrane, CEO of Lithium Chile