LITH:CC - Lithium Chile Welcomes Update from Chilean Government
(TheNewswire)
CALGARY, ALBERTA – TheNewswire - April 21, 2023 – Lithium Chile Inc. (“ Lithium Chile ” orthe “ Company ”) ( TSXV:LITH ) ( OTC:LTMCF ) is pleased with therecent statements from Chile’s President, Gabriel Boric in respectto their goal of advancing its lithium industry through apublic-private initiative.
In 1979, Chiles Government made lithium a strategicmineral, effectively nationalizing the industry and making theadvancement of Chilean lithium projects impossible for privatecompanies. The proposed initiative by President Boric to improve thedomestic economy by advancing the lithium industry with stateinvolvement will create a transparent way for private companies toexplore and develop their assets.
The Company’s management team unanimously welcomesthe news that the government plans not to terminate current contractsand contributes the recent statement as having a positive impact ontheir business.
Steve Cochrane, President & CEO comments, “Theannouncement from President Boric yesterday will pave the way forprivate companies to be able to advance their projects in Chile. Contrary to nationalizing the Lithium industry in Chile, they haveestablished a partnership between the public and private sectors thatshould allow for the rapid development of lithium projects in Chile.It is our opinion that removing the uncertainty around developingChile's lithium assets will create a lot of global interest in ChileanLithium projects and with our large exploration portfolio we areuniquely positioned to capitalize on this revolutionarydecision.”
The Company boasts one of the largest land portfoliosin the junior mining sector with over 110,000 hectares of lithium richproperties. A drilling program is slated to begin in May 2023 on theCompany’s Llamara Project.
Michelle DeCecco, Vice President & COO adds, “Ourconfidence in our ability to move our projects forward is reflected inthe four well exploration program in Llamara, scheduled for mid-May.President Boric understands the importance and benefits of privatesector investment and involvement; it encourages us to look foradditional ways to invest in growth, technology, and partnerships withthe support of the Chilean government.”
ABOUT LITHIUM CHILE:
Lithium Chile is advancing a lithium property portfolioconsisting of 111,978 hectares in Chile and 20,800 hectares inArgentina.
The Company has a NI 43-101 report with an indicatedand inferred resource of 2,587,000 tonnes of lithium carbonateequivalent (LCE) from its Salar de Arizaro, Argentina project. ThePhase 2 development program on the Salar de Arizaro is underway withresults to be included in an updated NI 43-101 report which will befiled on SEDAR when completed.
Lithium Chile also owns 5 properties, totaling 21,329hectares, that are prospective for gold, silver and copper.Exploration efforts are continuing on Lithium Chile’s Carmonagold/silver/copper property which lies in the heart of the Chileanmega porphyry gold/ silver/copper belt.
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 Inc., pleasecontact Steven Cochrane, President and CEO via email:steve@lithiumchile.ca or Michelle DeCecco, Vice President and COO, viaemail michelle@lithiumchile.ca.
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 by the use of 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 arebased on various assumptions and factors that may prove to beincorrect, including, but not limited to, factors and assumptions withrespect to: the general stability of the economic and politicalenvironment in which the Company operates and the timely receipt ofrequired regulatory approvals. You are cautioned that the foregoinglist of material factors and assumptions is not exhaustive. AlthoughLithium Chile believes 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.
Copyright (c) 2023 TheNewswire - All rights reserved.