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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 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.