Calgary, Alberta--(Newsfile Corp. - December 4, 2019) - Lithium Chile Inc. ("Lithium Chile" or the "Company") is pleased to announce that drilling has commenced at its Turi lithium brine project in Chile. The initial exploration program of up to three holes will focus on the core of a major geophysical anomaly that covers over 63 square kilometres and is 200 to 300+ metres thick. Near surface brine samples taken by Lithium Chile from the area above the TEM anomaly contain lithium values ranging up to 590 mg/l and moderate-to-low magnesium-to-lithium ratios of 7.8. Turi not only benefits from excellent drainage into the Basin but also has a number of natural lithium rich hot springs indicating a potential subterranean source of lithium.
Lithium Chile is the largest landholder of lithium exploration projects in Chile outside of the government and SQM. Turi is one of six high-priority projects identified for early drill testing and the Company has engaged Santiago-based Montgomery and Associates to assist with the drilling and water sampling program.
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Steve Cochrane, President and CEO of Lithium Chile comments, "Turi is one of the priority prospects in our Chilean portfolio thanks to strong sampling results and the presence of a major geophysical anomaly. This is the second consecutive property for which we have acquired local and government agreement to drill. Our success in building on-the-ground relationships continues to bear fruit and truly sets us apart from other junior exploration companies with Chilean prospects. We look forward to sharing drilling results as they are received."
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 166,150 hectares covering sections of 14 salars and 2 laguna complexes 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: 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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