LTMCF - Lithium Chile Continues to Expand its Carmona Gold/Silver/Copper Prospect with Assays Grading up to 29.5 G/T Gold 235 G/T Silver and 3.8% Copper
(TheNewswire)
CALGARY, ALBERTA – TheNewswire - JUNE 29, 2021 –Lithium Chile Inc. (“ LithiumChile ” or the “ Company ”) (TSXV: LITH) (OTC:LTMCF) is pleased to announce continuing positiveresults based on its recently completed phase 3 surface explorationprogram in the Central Zone of its 100% owned Carmonagold/silver/copper property. The results from the extensive soil andoutcrop sampling program continue to increase the number of newdiscoveries and expand the areas of mineralization on this highlyprospective 84 sq km property.
HIGHLIGHTS
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-Three 1-4 sq km sectors of highAu-Ag-Cu bearing veins and porphyry Cu-Au style disseminatedmineralization discovered;
-Outcrop assay range: 0.6-29.5 g/tAu,2.2-235 g/ Ag and 0.4-3.8% Cu;
-Sector A containing the bulk of thenewly discovered mineralization is 4 km by 1-1.5 km.
The Central Zone sits on a regionally extensivestructure and associated intrusives of the type commonly associatedwith porphyry copper-gold and high-grade copper-silver-gold veindeposits. This metallogenic setting hosts the bulk of the porphyrycopper and gold deposits in the Central Chilean porphyry belt.Numerous multi-element soil anomalies ranging up to 0.47 g/t gold 1.9g/t silver and 0.236% copper support the potential of the Centralzone.
Terry Walker, Vice President Exploration of LithiumChile commented: “ongoing exploration at Carmona continues to yieldnew discoveries with exceptional assays and boosts our confidence inits potential to host major copper, gold and silver deposits”
The company plans to follow up the discoveries in theCentral and South Zones with Induced Polarization (IP)chargeability/resistivity surveys with a view to near termreconnaissance drilling.
FURTHER UPDATES
The Company continues to advance its Argentinianproduction well and pump test program on its Salar de ArizaroProperty. The final definitive agreement has been received and iscurrently being reviewed by the parties’ Argentinian lawyers. TheCompany plans further update upon final signing. In the meantime,arrangements have been made on accommodations for our drilling crew aswell as fuel and water has been organized for the drill rig.
On the Laguna Blanca property a metallurgical study hasbeen organized to further understand the nature of the cesiummineralization on the property. The first part of this study will bedone in conjunction with the University of La Serena.
SAMPLE METHODOLOGY
During the exploration program all samples werecollected by experienced Lithium Chile staff. Each soil sample wassieved in the field to obtain 1kg of -18 mesh fines and was bagged andsealed on site. Each rock sample consisted of 1-1.5 kg of representative chips taken continuously from outcrop oracross mineralized structures and was bagged and sealed on site. All samples were delivered by Lithium Chile’sstaff to the ALS prep-lab in La Serena for processing. ALSsubsequently shipped a 30g sub-sample pulp to their laboratory inLima, Peru where they were analyzed for gold by fire assaypre-concentration, AA finish and 35 other elements including copperand silver, by the ICP technique following Agua Regiadigestion.
Qualified Person: Mr. Terence Walker, M.Sc., P.Geo., qualified person withinthe meaning of National Instrument 43-101, has reviewed the contentsof this news release.
About Lithium Chile
Lithium Chile is advancing a lithium property portfolioconsisting of 71,900 hectares covering sections of 10 salars and twolaguna complexes in Chile and now, 23,300 hectares in Argentina.
Lithium Chile also owns 5 properties, totaling 22429hectares, that are prospective for gold, silver and copper.Exploration efforts are continuing on Lithium Chile’s Carmonagold/silver/copper property which lies in the Central Paleoceneporphyry copper-gold belt adjacent to the Chilean mega porphyrycopper/gold/molybdenum belt.
Lithium Chile’s common shares are listed on the TSX-Vunder the symbol “ LITH ” and on the OTC-BB under the symbol“ LTMCF ”.
To find out more about Lithium Chile Inc., pleasecontact Steven Cochrane, President and CEO via email: steve@lithiumchile.ca oralternately, Terry Walker VP Exploration email twalker@goldenrock.cl .
NEITHER THE TSXVENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM ISDEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTSRESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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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 information can beidentified by the use of forward-looking terminology such as"expects", "believes", "aims to","plans to" or "intends to" or variations of suchwords and phrases or statements that certain actions, events orresults "will" occur.
You are cautioned that the following list of materialfactors and assumptions is not exhaustive. Specific material factorsand assumptions include, but are not limited to: the general stabilityof the economic and political environment in which the Companyoperates; the timely receipt of required regulatory approvals; theability of the Company to obtain future financing on acceptable terms;currency, exchange and interest rates; operating costs; the successthe Company will have in exploring its prospects and the results fromsuch prospects. Accordingly, readers should not place undue relianceon forward-looking statements. The Company does not undertake toupdate any forward-looking statements herein, except as required byapplicable securities laws. All forward-looking statements containedin this news release are expressly qualified by this cautionarystatement.
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