Lithium Chile identifies multiple high-priority target areas at Salar de Atacama and Salar Ollague properties, Chile
TSX VENTURE: LITH
CALGARY, April 3, 2018 /CNW/ - Lithium Chile Inc. ("Lithium Chile" or the "Company") is pleased to announce that it has identified multiple 20 - 25+ square kilometre (km2) brine target areas at both its Atacama and Ollague lithium projects in Chile, where near-surface brine values of up to 1330 mg/L lithium and 1140 mg/L lithium, respectively, have been discovered. These open-ended, low resistivity zones were identified by Transient Electromagnetic Surveys (TEM) within the northwest trending axis of a sub-basin on the northeast flank of the Salar de Atacama and the southwest arm of Salar Ollague. Importantly, these areas display the same geophysical characteristics as the lithium-rich aquifers at Salar de Atacama, home to the world's largest and highest-grade lithium brine producers. Drilling is expected to commence April, 2018.
- High-Priority Targets: Large multiple 20-25+ km2 lithium brine target areas identified at Salar de Atacama property and Salar Ollague property.
- Imminent Drilling: Drill program to commence in April 2018, focusing on high-priority target areas.
- Project Size and Grades: Atacama Property covers 6,600 hectares of the NE flank of Salar de Atacama and contains near-surface Li brine values up to 1330 mg/L lithium. Ollague Property covers 2,200 hectares of the SW arm of Salar Ollague and contains near-surface Li brine values up to 1140 mg/L lithium.
- Excellent Chemistry: near surface brines on both properties have excellent chemistry including an Li:K ratio of 0.9-0.1 and an Mg:Li ratio of 2.6-7.1.
- Close to Infrastructure: Located within the Salar de Atacama and the Andean Lithium Belt, both properties are accessible year-round via a paved highway from the towns of San Pedro de Atacama and Calama.
These recently completed geophysical surveys indicate several open ended horizontal zones varying from 50 to 75+ metres (m) in thickness at Atacama and 20 to 200+ m in thickness at Ollague and within 20 to 120 metres of surface. The Company believes the zones reflect saline aquifers (resistivity values of generally less than 3 ohms).
Steve Cochrane, President and CEO of Lithium Chile, commented, "We are delighted with the discovery of such impressive drill target areas at Atacama and Ollague. The results also follow the recent discovery of a 60km2 target area at another of our top Chilean projects – Helados - where drilling will commence in April. We have an aggressive multi-project drill program planned for this year, which includes all three of these exciting projects and we look forward to sharing drill results as they come through."
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 (TSX-V: LITH)
Lithium Chile Inc. is advancing a lithium property portfolio consisting of 148,500 hectares covering sections of 13 salars and 1 laguna complex in Chile. The properties include 66 square kilometres on the Salar de Atacama which hosts the world's highest concentration lithium brine production and is currently the source of about 30% of the world's lithium production. Lithium Chile also owns a significant Copper/Gold/Silver property portfolio consisting of 28,184 hectares over 6 different properties located in Chile. Lithium Chile Inc.'s common shares are listed on the TSX-V under the symbol "LITH".
On Behalf of the Board of Directors,
LITHIUM CHILE INC.
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