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.
- 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: firstname.lastname@example.org.
On Behalf of the Board of Directors,
LITHIUM CHILE INC
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