Calgary, Alberta--(Newsfile Corp. - October 18, 2019) - Lithium Chile Inc. (TSXV: LITH) (OTCQB: LTMCF) ("Lithium Chile" or the "Company") is pleased to announce that the Chilean Environmental Impact Assessment Authority ("SEIA") has approved the Company's Turi exploration drilling program. This approval will allow Lithium Chile to file a Notice of Work with the National Geological and Mining Service, SERNAGEOMIN. The Company anticipates preparatory work for the first hole in their drill program will be initiated the last week of October and their drilling rig will mobilize to Turi during the first week of November.
Turi covers 13,000 hectares (130 square kms) or approximately 95% of the Salar de Turi in the heart of the Chilean side of the lithium triangle. In the spring of 2019, a 5-line TEM geophysical survey of the property identified a large 63+ square kms, 200 - 350+ meter thick, high conductivity anomaly starting approximately 150 meters below surface. Near surface brine samples above the TEM anomaly contain lithium values ranging up to 590 mg/l and moderate to low magnesium to lithium ratios of 7.8.
Figure 1: Proposed Turi Drill Locations
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5962/48885_10-18-19 Turi drill locations.jpg
Surface access was successfully negotiated in early 2019 with the Turi Indigenous Community. With their support and input, an exploration drill program was designed in June of 2019. After an extensive period of studies, report preparation and exhaustive revision by the SEIA, approval was received October 15th for the Company's exploration drilling program. In a document issued by the SEIA, it states Lithium Chile was able to identify, recognize, manage and protect the environment. The Companies drilling plans will generate minimal impact that will not harm the local ecosystem and community activities¨. Lithium Chile's current Turi drilling program is flexible and will be results driven. With access to their Coipasa prospect pending the company wishes to keep all their options open.
Steve Cochrane, President and CEO of Lithium Chile said "We are extremely pleased with the SEIA approval for our proposed Turi exploration program. This is a significant milestone in Lithium Chile's development as we now have community and regulatory approval for an exploration program on the second of our 15 exploration prospects. I would like to acknowledge our tremendous Community Relations Team and their success in securing local approval for two separate exploration programs".
About Lithium Chile
Lithium Chile is advancing a lithium property portfolio consisting of 166,950 hectares covering sections of 14 salars and 2 laguna complexes in Chile.
The Company'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: email@example.com or alternately, Jeremy Ross, VP Business Development, at (604) 537-7556 or via email: firstname.lastname@example.org . Chilean contact is Terry Walker, VP Exploration at (011) 562 2455-6473 or via email: email@example.com
On Behalf of the Board of Directors,
LITHIUM CHILE INC.
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.
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