LTMCF - Lithium Chile's Laguna Blanca Lithium-Cesium Anomaly Doubles in Size with High Grades Up To 1450 mg/l Lithium and 698 ppm Cesium
(TheNewswire)
CALGARY, ALBERTA – TheNewswire- JUNE 02, 2021 –Lithium Chile Inc. (“ LithiumChile ” or the “ Company ”) (TSXV:LITH) (OTC:LTMCF) ispleased to announce that results from its recently completed extensionto its prior auger sampling program on Salar de Laguna Blanca hasdoubled the size of the lithium-cesium anomaly from 4 sq km to 8.8 sqkm. The anomaly is still open to the northeast, east and south. Theinitial TEM geophysical survey that discovered the conductive anomalyalso shows it to be between 100 and 200 meters thick indicating thepotential to significantly increase the size of this target.
HIGHLIGHTS
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- 8.8 sq km lithium-cesium surfacesediment anomaly outlined;
- Lithium sediment grades up to 1450mg/l and Cesium grades up to 698 ppm;
- 3.8 sq km high grade core averaging900 mg/l lithium and 335 ppm cesium;
- Surface brine samples from anomalycore grading up to 1230 mg/l lithium;
- 40-liter bulk surface water samplesent to Summit Nanotech for extraction tests.
The results from the second phase exploration programon the Company’s Laguna Blanca prospect continues to point to alarge mineral occurrence containing two valuable commodities - lithiumand cesium. There are strong indications of both elements in thesurface sediment samples as well as the potential for both minerals inthe deeper brine targets. It is the company’s intention to look at asampling program to test deeper zone over the existing anomaly as wellas continue to extend its aerial extent.
Steve Cochrane, President and CEO of Lithium Chilecommented, “We are excited by the latest results from our LagunaBlanca exploration program. The presence of two highly valuedcommodities on the property make this a priority project for LithiumChile. The combination of the two minerals has attracted numerousinquiries from outside parties reinforcing the potential of thisproject.”
Qualified Person
Mr. Terence Walker, M.Sc., P.Geo., qualified person within the meaningof National Instrument 43-101, has reviewed the contents of this newsrelease. During the course of the exploration program, all sampleswere collected by experienced Lithium Chile staff. Each salt andsediment sample consisted of 1 -1.5 kg of unconsolidated materialtaken from 0.5 - 1.2m deep holes using a hand-held auger that werebagged and sealed on site. All samples were delivered by LithiumChile’s staff to the ALS prep-lab in La Serena for processing. ALSsubsequently shipped a 30g subsample to their laboratory in Lima, Peruwhere they were analyzed for 51 elements, including 2 lithium andcesium, by the ICP-MS technique following Agua Regia digestion. Overlimit (>500ppm Cs) sample were re-run using the ICP-MS81 techniquefollowing lithium borate fusion.
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 that areprospective for gold, silver and copper. Exploration efforts arecontinuing on Lithium Chile’s Carmona gold/silver/copper propertywhich lies in the heart of the Chilean mega porphyry gold/silver/copper 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 or alternately, Terry Walker VP Exploration email twalker@chilelithium.cl
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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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