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Multi-Project Drill Campaign Aims at Delivering Results that Highlight Asset Values

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

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.