LITH:CC - Lithium Chile Announces Favorable Results at New Arizaro Exploration Hole
(TheNewswire)
CALGARY, ALBERTA – TheNewswire - February 28, 2024 – Lithium Chile Inc. (TSXV:LITH) (OTC:QB) (“ Lithium Chile ” or the “ Company ”) is pleased to provide an operational update on its Salarde Arizaro Project in Argentina, highlighting significant progress onthe Company’s northeastern claims including sampling results fromhole ARDHH-08.
One diamond drill hole was completed at the Arizaro Project:
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The hole encountered brine rich formations in areas not previouslydrilled.
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Results from drilling provide for potential significant resourceupside.
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A new diamond drill hole, ARDDH-9 is currently underway.
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ARGENTINA OPERATIONS - ARIZARO PROJECT:
ARDDH-08 has been drilled to a depth of 606-metres with a brine-rich, sandy formation encountered at 200 - metres. The bailer samples sent to Alex Stewart Laboratory, Jujuy, Argentina reported thefollowing grades:
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50-metres encountered grades of 180 mg/l Li
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200-metres encountered grades of 690 mg/l Li
Results from hole ARDHH-08 represent importantexploration progress for the northeastern portion of the TOLAR 6property, where the Company does not have any mineral resourceestimates contributing to the previously reported 3,342,000 tonnelithium carbonate equivalent resource associated with the project. Due to the variability in lithium grades encountered, additionaldepth-specific sampling of the brines have been recommended by theQualified Person overseeing the project.
Salar de Arizaro,Argentina: Resource Calculation
Steve Cochrane, President & CEO, remarked, "The results from thisnew hole signify an important step in our strategic roadmap,propelling us closer towards maximizing the full potential of ourclaims. We are confident in the Arizaro project's potential to becomea premier lithium carbonate producer, and we're energized by thepromise of continued progress."
Lithium Chile’s President for South America, José deCastro, says : "We are immensely proud of ourexceptional team in Argentina, whose unique experience in previouslithium projects has been instrumental in creating value for allstakeholders including the communities we work with. As we continue toprogress towards a revised resource report and feasibility study tosupport production economics, we remain steadfast in our mission toadd value and realize the full potential of the Arizaroproject."
QUALIFIED PERSON, QA/QCSTATEMENTS:
Leandro Sastre has reviewed and approved the scientificand technical content of this news release. Mr. Sastre is a geologyprofessional with over 20 years of experience in the internationalmining sector. Leandro has worked extensively throughout Latin Americawith a focus on Argentina, Chile and Peru.
ABOUT LITHIUM CHILE:
Lithium Chile is an exploration and lithium resourcecompany with a property portfolio consisting of 111,978 hectares inChile and 29,245 hectares in Argentina. The Company has filed its NI43-101 Report and Preliminary Economic Assessment, which can be viewedon the Company’s profile at SedarPlus.ca
Lithium Chile also owns 5 properties totaling 22,529hectares that are prospective for gold, silver and copper.
Lithium Chile’s common shares are listed on the TSX-Vunder the symbol “LITH” and on the OTC-QB under the symbol“LTMCF”.
To find out more about Lithium Chile, please contactSteven Cochrane, President and CEO via email: steve@lithiumchile.ca orMichelle DeCecco, Vice President and COO via email: .
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATIONSERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXVENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACYOF THIS RELEASE.
FORWARD LOOKING STATEMENTS:
This news release may contain certain forward-lookinginformation and forward-looking statements within the meaning ofapplicable securities legislation (collectively "forward-lookingstatements"),. Generally, forward-looking statements can beidentified using forward-looking terminology such as"expected", "anticipated", "aims to","plans to" or "intends to" or variations of suchwords and phrases or statements that certain actions, events orresults "will" occur. Such forward-looking statements are based on various assumptionsand factors that may prove to be incorrect, including, but not limitedto, factors and assumptions with respect to the general stability ofthe economic and political environment in which the Company operatesand the timely receipt of required regulatory approvals. You arecautioned that the foregoing list of material factors and assumptionsis not exhaustive. A description of assumptions used to develop suchforward-looking information and a description of risk factors that maycause actual results to differ materially from forward-lookinginformation can be found in Lithium Chile's disclosure documents onthe SEDAR+ website at www.sedarplus.ca. Although Lithium Chilebelieves that the assumptions and factors on which suchforward-looking statements are based upon reasonable assumptions,undue reliance should not be placed on the forward-looking statementsbecause Lithium Chile can give no assurance that they will prove to becorrect or that any of the events anticipated by such forward-lookingstatements will transpire or occur, or if any of them do, whatbenefits Lithium Chile will derive therefrom. Lithium Chile does notundertake to update any forward-looking statements herein, except asrequired by applicable securities laws. All forward-looking statementscontained in this news release are expressly qualified by thiscautionary statement.
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