TSX Venture Exchange: LITH
CALGARY, April 23, 2019 /CNW/ - Lithium Chile Inc. ("Lithium Chile" or the "Company") is pleased to announce that it has received community approval for the planned exploration program on its Salar de Coipasa property in Chile. This is the third community in Chile's lithium-rich salars to approve the Company's exploration activities, following approval by the communities at the Company's Ollague and Turi properties. Having obtained approval for exploration at this third property establishes Lithium Chile as a clear leader amongst Chilean lithium exploration companies in the ability to work constructively with local communities and successfully gaining their support.
At the end of March 2019, the Indigenous Community Aymara of Ancovinto, owner of the surface rights where the Company's Salar de Coipasa project is located, approved the exploration program with a large majority. This stage of consultation, as mandated by Chilean laws and International conventions for respecting indigenous communities, customs and the environment, is now complete. The approval expresses the support of the community and its confidence in the Lithium Chile team to carry out the program in a manner that respects the inhabitants of the area and their ancestral way of life.
Geophysics has already been completed on the company's 129 km2 Salar de Coipasa property revealing a highly conductive anomaly covering over 65% of the property. Currently, the Company's management is working collaboratively with local community representatives on optimising drill hole locations to minimise surface impact.
Steven Cochrane President and CEO comments "We are delighted to have received the support from the Ancovinto Community of Coipasa to advance this project and are very encouraged by the continued success of our Chilean team in developing productive relationships with local communities. This particular property is one of our most exciting exploration projects and we look forward to the upcoming exploration program. The potential in Salar de Coipasa has become increasingly clear following the recent US$1.3 billion investment by Chinese company, Xinjiang TBEA Group, to earn a 49% interest in the Bolivian side of the same salar."
About Lithium Chile
Lithium Chile is advancing a lithium property portfolio consisting of 164,250 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".
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 current and subsequent exploration programs and approvals thereon.
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 and local community 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.