TSX Venture Exchange: LITH
CALGARY, Sept. 12, 2019 /CNW/ - Lithium Chile Inc. ("Lithium Chile" or the "Company") is pleased to announce that it has advanced to the final stage of obtaining an access easement from the Chilean Courts for the Coipasa property, a lengthy process of almost three months necessitated by local access restrictions and aboriginal rights issues. While the initial agreement was voted on in April 2019 and accepted by over 65% of the Community membership, that agreement has gone to the local mining court to grant a binding access order. The process has passed through various stages with the support of both the courts and the community. It is expected that these procedures will soon be completed, and pre-drilling preparations can begin.
At the Turi property, the Company received community approval in early 2019. The Company has identified drill locations and prepared the initial drilling application. As part of that application, the Company completed an Environmental Impact Statement which was submitted as part of the permitting process. Following our original submission in June 2019, the Service of Environmental Impact Evaluation (SEIA) requested additional information and studies which have been completed and submitted. The Company is now awaiting their final response in order to proceed with the planned drilling program.
- Locations of 3 priority holes which have been confirmed with the Indigenous Community of Ancovinto
- Initial drill holes are designed to evaluate 40+ Km2 core area of the current 58+ Km2 TEM anomaly
- Final stages of access easement are in progress with courts to processed with the drill program
- Locations of 3 priority holes which have been confirmed with the Indigenous Community of Turi
- Initial drill holes are designed to evaluate 30+ Km2 core area of the current 63+ Km2 TEM anomaly
- Filings are in progress with relevant government bodies to processed with the drill program
Steven Cochrane, President and CEO for Lithium Chile, said, "While the permitting process has taken longer than we had hoped, we are extremely pleased to have reached another positive milestone in both our planned exploration program and Community relations at both of our priority targets at Coipasa and Turi. We take very seriously our commitment to work with the Indigenous communities and are grateful for their continued support going forward"
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.
Lithium Chile's common shares are listed on the TSX-V under the symbol "LITH" and on the OTC-QB under the symbol "LTMCF".
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.
SOURCE Lithium Chile Inc.
For further information: Lithium Chile Inc., please contact Steven Cochrane, President and CEO via e mail: [email protected] or alternately, Jeremy Ross, VP Business Development, at (604) 537-7556 or via email: [email protected]; Chilean contact is Terry Walker, VP Exploration at (011) 562 2455-6473 or via email: [email protected]