To All Lithium Chile Shareholders

I wanted to take this opportunity to update all our shareholders and put into perspective the recent announcement from your company.

REVIEW

First, I think it’s important to review our accomplishments over the last 12 months. Since August of last year, we have been able to amass one of Chile’s largest land packages of prospective lithium properties. To date we currently own 100% of 159,700 hectares of highly prospective lithium properties spread over 16 individual salars. Most importantly our acquisition costs are just over $3.00US per hectare. This is a significant discount to recent land sales in Chile where perspective lithium properties have sold for over $800 US per hectare.

Secondly, we conducted sample programs over all 16 properties and from that program we prioritized 6 prospects so we could focus our resources on what we feel are our most prospective properties. These prospects in order of attractiveness were Coipasa, Helados, Atacama, Turi, Ollague and Talar

Thirdly, we completed successful geophysical programs on 5 of our priority prospects. Consisting of, a gravity program which defines the parameters of the basins followed by a Transient Electro Magnetic program (TEM) which is excellent in showing conductive horizons within these basins. These programs were run on Coipasa, Helados, Atacama, Turi and Ollague and we were extremely pleased that the TEM showed highly conductive targets on all of our 5 properties.

Finally based on the geophysical information gather an exploration drilling program was designed and submitted to the Ministry of Mines and approved for 4 of our prospects, Coipasa, Helados, Atacama and Ollague subject to surface access permission from the respective communities involved.

PRESENT

That brings us to our current work program. We initiated discussions in early summer with all 4 communities involved with our drilling programs. We were pleased when the Ollague community council gave us permission to drill on our Ollague prospect. Even though Ollague was only number 4 or 5 on our priority list we were anxious to get our drilling underway and actually compare our physical results with our TEM geophysical data. We were extremely pleased and indeed excited when on our first reconnaissance hole we encountered a lithium bearing brine aquifer exactly where the TEM indicated we would. We were also please that the lithium grades got steadily better average over 470 mg/l the last 60 meters of the hole. As we drilled this hole on the edge of the basin we hit basement rock at around 300 metes. We then decided to move to the center of the basin for hole 3 and 4 where our geophysical data showed the basin was much deeper. The good news was we hit lithium bearing brine is hole 3 and 4 and like hole 1 the grades steadily improved from below 100 mg/l to over 270 mg/l before drilling finished at the contracted depth of 250 meters. As this part of the basin was much deeper then at hole 1 we really didn’t get a chance to test the deep sector even though we were still in the lithium bearing formation when drilling was suspended. It was this information that made our decision to drill hole 5 and test the much deeper portions of the formation. Hole 5 was completed to a depth of 350 meters and we were actually able to take samples from an additional 100 meters depth below where we had sampled hole 3 and 4. Drilling was suspended do to drilling complications at 350 meters but all 11 samples from hole 5 have been sent to ALS labs and results are pending.

FUTURE

That brings us to what we see happening with your company over the coming months. First and foremost, we look forward to getting the results from hole 5. WE are hoping that just as the top of hole 3 and 4 mirrored the results from the upper section of hole 1 that the deeper samples from hole 5 will show that lithium grade increases with depth. As a contingency and dependent on those results we have received permission from the Ollague community to re-enter hole 4 and extend the hole to 500 meters. The company’s decision to actually pursue that will obviously be based on results from the deeper sections of hole 5. Those results should be available in the next few weeks.

More importantly we are close to initiating our drill program on our Coipasa property. Based on size, TEM and surface sample grades Coipasa has to be one of our most prospective projects. We our finalizing terms of the program with the Ancovinto Indigenous Community executive and we hope to collar our first hole shortly. In summary we feel that we are just now getting started in proving that our properties have the potential to deliver high grade lithium brine deposits. The fact that on our very first exploration project we encountered lithium bearing brines shows that the exploration team we have built in Chile is cable of delivering potential world class discoveries. I look forward to continuing to build out our portfolio of prospective lithium properties and more importantly continue drilling up our prospects as we move forward in developing a would class lithium company.

 

Steven Cochrane

President/CEO

Lithium Chile Inc.

Lithium Chile Continues To Intercept Lithium Brines On It’s Olllague Drill Program

CALGARY ALBERTA, October 11, 2018- Lithium Chile Inc. (“Lithium Chile” or the “Company”) is pleased to announce it has encountered lithium bearing brines in three additional drill holes at its wholly owned Ollague Project, Chile. Results for OLL-01-18, OLL-02-18, OLL-03-18 and OLL-04-18 are outlined in the table below. Drilling continues to confirm the reliability of TEM geophysical profiles in identifying the brine carrying highly conductive zones. In addition, the drilling suggests that lithium grades increase with depth.

Main Low Resistivity TEM Zone Lithium Grade Variation with Depth
OLL-01-18 OLL-03-18 OLL-04-18
Depth (m) Li mg/l K mg/l Mg mg/l Depth (m) Li mg/l K mg/l Mg mg/l Depth (m) Li mg/l K mg/l Mg mg/l
150 270 2000 2070 190 210 3000 4460 190 210 2700 3810
170 260 2400 2530 210 200 2800 4180 210 250 2500 3230
190 370 3500 3505 230 200 2700 3690 230 220 2600 3320
210 360 3400 3400 250 210 2800 3790 250 270 3300 3490
230 380 3600 3600 Zone open to depth Zone open to depth
250 460 4300 4300
270 480 4500 4500
Base of Zone 290m

 

Holes three and four were drilled on the northern block approximately 10 kms from hole one. These holes were located in the center of the salar rather than on the edge like holes one and two. The TEM surveys indicated that the conductive target zone was deeper in this sector of the north block. These brines tested lithium grades starting at 150 mg/l and increasing to 270 mg/l when the holes reached their 250 meters contracted depth. These grades were comparable to the grades seen in the upper 50-70m of the same TEM zone encountered in hole one. These improving grades as holes three and four were drilled deeper reinforces the company’s decision to test the deeper limits of the aquifer by drilling hole five.

Main Low Resistivity TEM Zone Lithium Grade Variation with Depth
  OLL-02-18  
  Depth

(m)

Li

mg/l

K

mg/l

Mg

mg/l

 
150 220 2600 1200
170 230 2800 2520
  Zone open to depth  

 

Hole two was drilled two kms south of hole 1 and entered the top of the structure at approximately 130 meters. Grades were increasing from 100 mg/l to 230 mg/l at 170 meters when the drill rods became jammed in the lose sand and gravels of the formation. Subsequent efforts to release the rods involving the pumping of large quantities of fresh water into the hole rendered further samples meaningless. Eventually the hole was abandoned as the rods were unable to be freed.

Steve Cochrane President and CEO of Lithium Chile commented “We are extremely pleased that our drilling program continues to show good lithium grades. The fact these grades improve with the depth of the holes justify the company’s decision to target the much deeper zones on hole five. It is also important to note that with the drilling of holes one and two we have identified a 4 km2 zone on our southern block and with holes three and four a 10 km2 zone on our larger norther block with significant lithium grades”.

Hole number 5 has been drilled to a total depth of 354 meters where complications with the drilling forced the abandonment of the hole. Samples were collected from 170 meters with the last sample having been taken at 350 meters. These samples will now be sent to ALS for analysis.

Lithium Chile is also pleased to announce that the rig is now being mobilized from Ollague to the Salar de Coipasa in anticipation of our next drill program getting underway soon. Coipasa at 12,900 is our second largest property in the Andean lithium belt.

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. Individual brine samples were collected at 20m intervals down hole bye means of a double valve bailer after the hole had been flushed. The brine samples were collected in new 1 litre screw top sterile bottles that were sealed and tagged at the sample site. All samples were shipped to ALS Patagonia Laboratories, La Serena, Chile, where they were prepared and then subsequently shipped to the ALS Laboratory in Vancouver, Canada where the brine analyses were performed.

About Lithium Chile

Lithium Chile is advancing a lithium property portfolio consisting of 155,800 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”.

To find out more about Lithium Chile Inc., please contact Steven Cochrane, President and CEO via e mail: steve@lithiumchile.ca or alternately, Jeremy Ross, VP Business Development, at (604) 537-7556 or via email: jeremy@lithiumchile.ca .

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.

Lithium Chile has retained Nice Vice Capital Inc to provide marketing services.

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.

LITHIUM CHILE ANNOUNCES DRILLING PLANS FOR A 5TH HOLE TO 500 METERS ON OLLAGUE PROPERTY

 TSX Venture Exchange: “LITH”                                                                              

FOR IMMEDIATE RELEASE

LITHIUM CHILE ANNOUNCES DRILLING PLANS FOR A FIFTH HOLE TO FIVE HUNDRED METERS ON OLLAGUE PROPERTY

 CALGARY, Alberta, September 5, 2018 – Lithium Chile Inc. (“Lithium Chile” or the “Company”) is pleased to provide an update on their current drilling program. Based on strong indicators from their first four exploration holes on their Ollague prospect, Lithium Chile has been approved for a fifth hole that will extend the drilling depth from 250 meters to 500 meters.

Four exploration holes were originally planned and have now been successfully completed at Ollague. Results from the first hole were disclosed in a News Release dated August 23, 2018 and results from the remaining three holes are pending. Lithium Chile encountered grades in the brine in the first hole ranging up to 480 mg/l lithium with grades steadily increasing from 120 meters to its final depth of 300 meters. The first and second holes were drilled on the edge of the Ollague salar while holes three and four moved into the center of the basin.

Holes 3 and 4 were completed to a depth of 250 meters and were still in a porous brine formation when drilling was suspended as per the surface rights contract negotiated with the community of Ollague. Data collected at the drill sites indicated high salinity brines beginning at approximately 150 meters and open at depth at the time drilling was suspended.

Based on these indicators, Lithium Chile has made the decision to pursue a 5th hole in the center of the basin and north of holes three and four. Surface access has been successfully negotiated resulting in road and pad construction being completed over the past weekend with drilling planned to commence on Tuesday, September 4th.  The top 50 meters of this fifth hole will be cased with a surface casing to prevent up hole caving and to reduce the amount of contamination of the deeper brine targets from near surface freshwater zones. The target depth on the fifth hole is 500 meters which will allow Lithium Chile to test the deeper levels of the salar.

Steve Cochrane President and CEO of Lithium Chile commented: “Drilling a fifth hole at Ollague not only reflects the encouraging data we have collected on our first four holes but also reflects our belief that Ollague has the potential to be an exciting new lithium discovery”.

DRILLING PLANS FOR A 5TH HOLE TO 500 METERS
ON OLLAGUE PROPERTY

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 155,800 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”.

To find out more about Lithium Chile Inc., please contact Steven Cochrane, President and CEO   via e mail: steve@lithiumchile.ca  or alternatively, Jeremy Ross, VP Business Development, at (604) 537-7556 or via email: jeremy@lithiumchile.ca .

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.

LITHIUM CHILE HITS 480 MG/L OF LITHIUM BRINE ON 1ST DRILL HOLE AT OLLAGUE, CHILE

TSX Venture Exchange: “LITH”  OTC-QB: LTMCF 

For Immediate Release

LITHIUM CHILE HITS 480 MG/L OF LITHIUM BRINE ON 1ST DRILL HOLE AT OLLAGUE, CHILE

CALGARY, Alberta, August 23, 2018 – Lithium Chile Inc. (“Lithium Chile”) is pleased to announce that lithium-bearing brines have been intersected by the first of four drill holes at its wholly-owned Ollague project located in the Antofagasta Region of Chile.   Hole DDH-OLL-01-18 encountered an aquifer hosting lithium-bearing brines at a depth of 110 meters which continued to a depth of 290 meters. This continuous 180-meter zone of brine returned grades of up to 480mg/L lithium. The average grade over the last 60 meters was 470 mg/L lithium.

Steve Cochrane, President and CEO of Lithium Chile, commented: “Hitting such a thick and continuous zone of lithium-bearing brine on our very first hole at Ollague is a huge testament to the ability of our exploration team in Chile. I am extremely pleased that in our first exploration hole we have returned values that rival the average grades in Argentina. I am delighted that we have made a potentially significant lithium discovery at the very start of our drilling activity.”

Hole DDH-OLL-01-18 is located in the shallower, southwestern edge of the Ollague salar and bottomed at 300 meters.  Hole # 2 was also drilled in the southwestern edge of the Salar (now completed) with assays pending.  Hole # 3 (now completed) and hole # 4 (in progress) are targeting the center of the Ollague salar where the Company anticipates that the zone will continue to deeper depths.

The depths intersected coincide very closely with the main low conductivity zone detected by the transient electromagnetic survey (“TEM”) completed by Lithium Chile during March 2018 (see news release dated April 3, 2018) which supports Lithium Chile’s interpretation that the salar is open to significantly deeper depths.

Hole DDH-OLL-01-18

As this was an unsealed exploration hole which was drilled with fresh water, the samples values presented above are likely to have been diluted by drilling fluids and fresher up hole water.  Nevertheless, these results are highly significant in Lithium Chile’s view.

As a result of these significant results and the fact that grades are increasing with depth, management is evaluating the feasibility of drilling hole #4 deeper and potentially drilling another hole as well to more fully evaluate the salar at deeper depths.

The water samples were tested on site for salinity and conductivity and then bottled and sealed on site and shipped to ALS Patagonia, an accredited laboratory, where they were analyzed for lithium and 25 other major and trace elements using the ICP analytical technique.

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”.

To find out more about Lithium Chile Inc., please contact Steven Cochrane, President & CEO  via email: steve@lithiumchile.ca  or alternatively, Jeremy Ross, VP Business Development, at (604) 537-7556 or via email:jeremy@lithiumchile.ca https://www.lithiumchile.ca/

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 assay results as well as 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.

 

 

 

 

 

 

 

 

Lithium Chile Inc. is pleased to provide an update on the ongoing drill program at its wholly-owned Ollague project

 

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 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 an 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 CochranePresident & 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 StatementsThis 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.

For further information: To find out more about Lithium Chile Inc., please contact Steven Cochrane, President and CEO at (403) 853 7117 or via email: steve@lithiumchile.ca or alternatively, Jeremy Ross, VP Business Development, at (604) 537-7556 or via email: jeremy@lithiumchile.ca.

Lithium Chile Commences Drilling At Ollague, Chile

CALGARY, Alberta, June 28, 2018 – Lithium Chile Inc. (“Lithium Chile” or the “Company”) is pleased to announce that it has commenced a four-hole drill program at its Ollague project in Chile, where a recently-completed sampling program encountered lithium brines assaying from 160mg/l to a high of 1220mg/l.

Holes will be drilled to a minimum 250 metres (m) or deeper based on drilling conditions and brine content. The drill rig will run 24 hours per day.

Drilling will focus on high priority conductive targets identified in the recent transient electromagnetic survey (TEM) (see news release dated April 3, 2018). The survey indicated these conductive units to be open-ended horizontal zones varying from 20 to over 200 m in thickness and within 20 to 120 metres of the surface. The company believes these low resistivity zones reflect saline aquifers. A recently re-entered 110m deep water well just outside the property border was flushed, allowed to recharge then sampled. The brine samples that were collected, contained 1220 mg/l of lithium.

Steve Cochrane, President and CEO of Lithium Chile, commented, “After amassing one of the largest lithium land packages in Chile, we have now begun drilling on one of our more advanced projects which have had sampling and geophysics completed on them. The new government has been clear in its support for the lithium sector and we are similarly encouraged by the strong community support we have received.  This is an exciting new growth phase for the Company and our goal is to maximise our early-mover exploration advantage in Chile.”

Ollague Project Highlights

  • 3500 hectares on the Salar de Ollague.
  • Located near the town of Ollague and close to infrastructure.
  • Comprehensive sampling program has encountered near-surface lithium brines assaying from 160 to 1220mg/L lithium.
  • Testing has shown good chemistry, which is an important factor in economic lithium production (Li:K ratio 0.1:1, Mg:Li ratio 7:1).
  • The property-wide TEM geophysical survey has identified multiple, large, high-priority target areas.
  • Recent, old water well sampling has encountered subsurface lithium-bearing brines assaying 180 to 1220 mg/l lithium.

Data collection will include lithology and depth-specific geochemical samples. Brine sampling will be completed using both drive point and hydraulic double packer systems, which have been tested and proved to provide a true depth-specific sample in addition to flow and porosity characteristics.

Subsequent Drilling Programs

Upon completion of the initial four-hole Ollague drilling program, it is the Company’s intention to complete a similar drilling program of four holes on each of the other four advanced projects, all in continuous succession, such that drilling is expected to continue for until late into Q3, 2018.

This news release has been reviewed by Terence Walker, P. Geo., Vice President of Exploration of the Company 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.  The properties include 64 square kilometres on the Salar de Atacama which hosts the world’s highest concentration lithium brine production and is currently the source of approximately 30% of the world’s lithium production.  Lithium Chile’s common shares are listed on the TSX-V under the symbol “LITH” and on the OTC-QB under the symbol “LTMCF”.

To find out more about Lithium Chile Inc., please contact Steven Cochrane, President and CEO at (403) 853 7117 or via email: steve@lithiumchile.ca  or alternatively, Jeremy Ross, VP Business Development, at (604) 537-7556 or via email: info@lithiumchile.ca.

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; and 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.

 

Prosper One enters MOU to spend $3M to earn 55% of Lithium Chile’s Pintadas Norte project

TSX Venture Exchange: “LITH”
OTC-QB: LTMCF

CALGARYJune 13, 2018 /CNW/ – Lithium Chile Inc. (“Lithium Chile” or the “Company“) is pleased to announce that it has entered into a memorandum of understanding (“MOU“) with Prosper One International Holdings Company Limited (“Prosper One“), a Hong Kong Stock Exchange listed company.

MOU Highlights

  • Prosper One and Lithium Chile will enter into a joint venture agreement (“Joint Venture Agreement“) whereby Prosper One may earn a 55% interest in Lithium Chile’s Pintadas Norte project in Chile by incurring $3,000,000 of staged exploration expenditures on or before December 31, 2021; and
  • Prosper One to make a $1,000,000 equity investment in Lithium Chile at a minimum price of $1.00 per share; and
  • Lithium Chile will operate the exploration programs for the Pintadas Norte project and as operator, Lithium Chile will receive a management fee from Prosper One equal to 17.5% of the funds expended on the Pintadas Norte exploration programs; and
  • $250,000 break fee will be payable by Prosper One to Lithium Chile should a definitive agreement not be signed.

Steve Cochrane, President and CEO of Lithium Chile, commented, “We are pleased to have reached this agreement with Prosper One which accelerates our ability to unlock the potential of our dominant land package in Chile.  Essentially, we are combining our technical expertise and Chilean experience with Prosper One’s financial acumen and support to explore our highly prospective Pintadas Norte project in the coastal region of Chile. We look forward to a mutually rewarding working relationship.”

The MOU contemplates that Prosper One will make an equity investment of CDN$1,000,000 (equivalent to approximately HK$6,000,000) into Lithium Chile which is to be completed within 60 days from the signing of the formal Joint Venture Agreement.  The shares being issued to Prosper One will be done at a price determined on the date of this press release in accordance with the TSX Venture Exchange (“TSXV“) Policies involving an allowable discounted market price subject to a minimum price of CDN$1.00 per Lithium Chile common share (“LC Share“).  The equity investment will be done on a unit basis to be made up of one LC Share and one-half of one warrant.  Each whole warrant will be exercisable into one LC Share at a price of CDN$1.50 for a period of two years from the date of completion of the equity investment.

The MOU contemplates the Pintadas Norte exploration program will have a term of three years involving an annual financial commitment of CDN$1,000,000 to be paid by Prosper One. The first annual financial commitment is payable within 60 days from the date of the completion of the equity investment by Prosper One into Lithium Chile.  Prosper One has no obligation to complete the second or third-year financial commitment whereupon it will surrender its interest. Upon completion of the Pintadas Norte exploration program, Prosper One will have earned a 55% working interest in the Pintadas Norte property.  Further, the Joint Venture Agreement will include a provision allowing Prosper One to earn an additional 20% working interest in the Pintadas Norte property upon completion of a pre-feasibility study.  Lithium Chile will operate the Pintadas Norte exploration program on behalf of the joint venture for which it will receive a management fee equal to 17.5% of the funds expended under the Pintadas Norte exploration programs. The Joint Venture Agreement will provide that Prosper One will be entitled to nominate a representative to the Joint Venture operating committee and provides each party the ability to complete a due diligence review.

Except for provisions relating to governing law, confidentiality, securities trading restriction, costs and expenses, binding effect, exclusivity and termination, the MOU does not constitute a legally binding commitment on any of the parties to the MOU in relation to the transactions contemplated.   Further, the Joint Venture Agreement will include a three year right of first refusal for Prosper One to enter into a joint venture agreement for exploration of Pintadas Sur, the southern extension to Pintadas Norte. If the Joint Venture Agreement is not entered into, Prosper One will pay to Lithium Chile a break fee of CDN$250,000.

The Joint Venture Agreement, including the equity investment, remains subject to regulatory approval.

About Prosper One International Holdings Company Limited

Prosper One is an investment holding company listed on the Hong Kong Stock Exchange under the stock code 1470 and is engaged in the sale and trading of fertilizers, raw materials and related fertiliser products, and public consumption products.

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.  The properties include 64 square kilometres on the Salar de Atacama which hosts the world’s highest concentration lithium brine production and is currently the source of approximately 30% of the world’s lithium production.  Lithium Chile’s common shares are listed on the TSX-V under the symbol “LITH” and on the OTC-QB under the symbol “LTMCF“.

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, regulatory approval of the Joint Venture Agreement and equity investment, the satisfactory completion of the due diligence review, and the entering into of definitive agreements including the Joint Venture Agreement.

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; and 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.

 

Lithium Chile Receives OTC-QB Listing and DTC Eligibility

CALGARYMay 29, 2018 /CNW/ – Lithium Chile Inc. (“Lithium Chile” or the “Company“) is pleased to announce that it is now listed on the OTC-QB under the symbol “LTMCF”. This enables US investors to purchase and hold the Company’s shares in their accounts. In addition, the Company has been made eligible for Depository Trust Company electronic settlement and transfer of its common shares in the United States.

The DTC is a subsidiary of the Depository Trust & Clearing Corp. that manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through the DTC are considered DTC eligible. This electronic method of clearing securities accelerates the settlement process for investors.

The Company has also engaged Nice Vice Marketing and Pacific Rim Marketing to assist with its investor marketing efforts.

About Lithium Chile
Lithium Chile is advancing a lithium property portfolio consisting of 152,900 hectares covering sections of 13 salars and 1 laguna complex in Chile.  The properties include 64 square kilometres on the Salar de Atacama which hosts the world’s highest concentration lithium brine production and is currently the source of approximately 30% of the world’s lithium production.  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
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.

SOURCE Lithium Chile Inc.

For further information: To find out more about Lithium Chile Inc., please contact Steven Cochrane, President and CEO or Jeremy Ross, VP Business Development, at (604) 537-7556 or via email: info@lithiumchile.ca.

Lithium Chile Identifies 58KM2 High-Priority Target Area At Coipasa, Chile

 Coincident high-grade lithium brines of up to 1410 mg/L from sampling and low resistivity geophysics

CALGARY, ALBERTA, May 7, 2018 – Lithium Chile Inc. (“Lithium Chile” or the “Company”) is pleased to announce that it has identified a 58+ square kilometre (km2) lithium brine target area at its Coipasa project in Chile. Recent sampling at the project has returned lithium values in near-surface brines ranging from 310 mg/L to 1410 mg/L. This large, open-ended, low resistivity zone was identified by Transient Electromagnetic surveys (TEM) and occupies a well-developed NW-SE trending sub-basin within the Salar de Coipasa. Importantly, this zone also displays the same geophysical characteristics as the lithium-rich aquifers at Salar de Atacama, home to the world’s largest and highest-grade lithium brine producers.

Project Highlights

  • High-Priority Target: Large 58+ km2 lithium brine target area identified on the Salar de Coipasa property.
  • Imminent Drilling: Near-term reconnaissance drill program planned to determine lithium content of the brine target.
  • Project Size: Coipasa property covers 113 square kilometres or about 70% of the 163 km2 Salar de Coipasa.
  • Near-Surface Grades: Lithium values in brine ranging from 310 mg/L to 1410 mg/L.
  • Excellent Chemistry: near surface brines with Li:K ratio of 0.06 and Mg:Li ratio of 3.9 comparable to the Li:K ratio of 0.08 and Mg:Li ratio of 6.4 at the Salar de Atacama.
  • Close to Infrastructure: Located within the Andean Lithium Belt, and accessible year-round via paved highway from the coastal city of Iquique.

The reconnaissance geophysical surveys completed to date indicate that this sub-horizontal zone, varying in thickness from 100 to over 300 metres and starting at 50-100 metres below surface, underlies approximately 65% of the property. The Company believes this horizon, with resistivity values of generally less than 3 ohms, reflects an extensive and thick saline aquifer.

Steve Cochrane, President and CEO of Lithium Chile, commented, “These strong survey results at our Coipasa project follow similarly impressive results at our Atacama, Ollague and Helados projects. It’s also important to note that we are the only major landholder in the Salar de Coipasa and we control the bulk of its footprint in Chile. This property will be included in our upcoming, multi-project drill program and we look forward to sharing the results.”

This news release has been reviewed by Terence Walker, P. Geo., Vice President of Exploration of the Company 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 148,500 hectares covering sections of 13 salars and 1 laguna complex in Chile.  The properties include 64 square kilometres on the Salar de Atacama which hosts the world’s highest concentration lithium brine production and is currently the source of approximately 30% of the world’s lithium production.  Lithium Chile’s common shares are listed on the TSX-V under the symbol “LITH”.

To find out more about Lithium Chile Inc, please contact Steven Cochrane, President and CEO or Jeremy Ross, VP Business Development, at (604) 537-7556 or via email: info@lithiumchile.ca.

On Behalf of the Board of Directors,

LITHIUM CHILE INC

Steven Cochrane

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 its properties and the ability of the Company to conduct exploration on its properties and the anticipated drilling program of the Company.

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; and 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.

Lithium Chile Shareholders Vote Unanimously to Spin Out Copper/Gold/Silver Properties

Lithium Chile Shareholders Vote Unanimously to Spin Out Copper/Gold/Silver Properties

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