Lithium Chile Increases Land Holdings at Salar de Turi as Positive TEM Geophysics Indicates Potential Lithium Brine Reservoir
TSX VENTURE: LITH
CALGARY, April 30, 2019 /CNW/ - Lithium Chile Inc. ("Lithium Chile" or the "Company") is pleased to announce positive results from an extended TEM geophysical survey on its Salar de Turi property. New data indicates that the highly conductive anomaly identified in earlier surveys is: wider and thicker, continues to the northeast along the salar basin axis and extends beyond the Company's earlier property boundary. As a direct result, the Company has staked an additional 22 claims totaling 5,400 hectares to cover the anomaly extension, which now covers at least 63 Km2.
- Extended TEM survey has encountered a large addition to a highly-conductive anomaly on the Turi project
- Additional 5,400 hectares has been staked to cover the newly identified anomaly extension
- Community approval is already in place for a 3 hole drill program
Analysis of previous water well drilling in the local area indicates that one of these wells appears to have penetrated the top 20 metres of the main TEM anomaly and encountered saline brines in a coarse sand and gravel aquifer.
Lithium Chile has an access agreement in place with the Indigenous Community of Turi for an exploration program that includes three exploration drill holes. The Company has determined favorable locations for its upcoming drill program and is working collaboratively with community representatives to ensure access and environmental considerations are met. At 13,000 hectares, Salar de Turi is now the third largest property in Lithium Chile's Andean and Pre-Andean Salar belt portfolio.
Terry Walker, Vice President of Exploration for Lithium Chile, commented, "The expansion in both size and quality of the main TEM anomaly boosts our confidence in the quality and potential asset value of the Turi property. It also supports Management's belief that our Turi property has potential to host large lithium brine resources."
Steven Cochrane, President and CEO for Lithium Chile, said, "We are extremely pleased with the results from our geophysical program on Salar de Turi as we now have a very large and highly-prospective target to drill. This also means that, along with the recently-announced Coipasa project activity, the Company can now proceed with two active field exploration programs."
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
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