CALGARY, Jan. 16, 2019 /CNW/ - Lithium Chile Inc. ('Lithium Chile" or the "Company") is pleased to announce that the local Turi community has approved the Company's plans to run additional TEM geophysical surveys and based on these results the Company may drill up to three exploration holes on the Turi Prospect. Turi is one of the Company's priority prospects for the following reasons:
Near surface samples show grading of up to 590 mg/l of lithium;
The 100% owned 76 km2 property covers the entire salar basin;
There are two active geothermal springs on the property supplying primary recharge to the basin with lithium concentrations up to 170 mg/l; and
The property is accessible with good infrastructure
It is anticipated that the TEM program will commence in late January or early February.
Steve Cochrane President and CEO of Lithium Chile, commented "We are pleased to have the approval to carry out additional exploration at Turi. The support of the Turi community has made this possible and is greatly appreciated. I look forward to seeing the results of the combined talents of our exploration team under Terry Walker and our lithium operations team under Jose de Castro"
Terry Walker V.P. Exploration of Lithium Chile, commented "I am very pleased that we can now advance another of our prospective lithium properties. The efforts of our Chilean team and the support of the Turi community allow us to continue our efforts towards building shareholder value in Lithium Chile."
Mr. Terence Walker, M.Sc., P.Geo, qualified person within the meaning of National Instrument 43-101, has reviewed the contents of this news release.
About Lithium Chile
Lithium Chile is advancing a lithium property portfolio consisting of 159,950 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.
Steven Cochrane 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: about 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] .