LTMCF - Stockhouse Feature Analysis: On Track & Ahead of Schedule: Top Lithium Project Drill Continues to Impress
(TheNewswire)
Lithium Chile Inc. Feature Analysis– Aug 26, 2021
“On Track & Ahead of Schedule:Top Lithium Project Drill Continues to Impress”
(Image via Lithium ChileInc.)
Engaged in the acquisition anddevelopment of mineral properties in South America, a Canadian minerhas begun work on a new project that is already shaping up to be apremier asset in its portfolio.
Lithium Chile Inc. ( TSX-V:LITH , OTC:LTMCF , Forum ) has commenceddrilling a production test well on its Arizaro property in SaltaProvince, Argentina.
Lithium Chile is advancing a lithium property portfolioconsisting of 68,000 hectares covering sections of 12 lithiumprospective Salars in Chile and now, 23,300 hectares inArgentina.
In an August 2021 newsrelease for investors, President and CEO ofLithium Chile, Steve Cochrane commented that the speed with whichthis Argentinian management team has been able to plan and execute onthe Arizaro production test well has met and even exceededexpectations.
“They have assembled a group ofservice providers that are regarded as the best in Salta province andI am confident they will bring this project in successfully on timeand on budget. Given the immense size and potential of the Arizaroprospect this is truly a game changing opportunity for LithiumChile”
(Image via Lithium ChileInc.)
Highlights:
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-A definitive agreement to acquire 60% interest inArizaro property has now been executed.
-Lithium Chile’s wholly-owned Argentinian subsidiary,Argentum Lithium has been legally incorporated and registered;
-Indigenous Community Approval: Production test programapproved and supported by the Indigenous community of TolarGrande;
- drill pad for production well, 17 km access roadcompleted;
-Drilling Rig ‘ready to start’: Drillingcontractor, Andina Perforaciones, has been contracted to work on theArizaro property and is currently mobilizing the drill rig;
-Pandemic not affecting timetable – the timetable iscurrently unaffected by Covid restrictions
Road and infrastructure construction commenced onAugust 9th, 2021 and was completed on August 20th. 17 km of road anddrill pad have been completed, fuel tanks have been set up and brinepits have been dug. The production test well drilling will commencethe week of August 23rd, 2021.
The initial production test well will be drilled to adepth of 500 metres and is anticipated to take 60 days to complete.The original exploration well identified a lithium bearing aquiferbetween 310 and 350 meters where the well ended. 6 samples returnedlithium grades between 733 and 951 mg/l with the average of 850mg/l.
Geophysics show that the target brine aquiferidentified by the prior exploration well is between 300 and 500 metresdeep. Samples are planned for every 50 metres. After the productionwell is completed, a downhole pump will be installed, and a planned30-day pump test is planned. This pump test is designed to providedata on flow rates, recharge capacity and lithium grade of the brineproduced. The data collected will determine the commercial potentialof the lithium prospect.
We have been tracking LITH stock for a few months nowand have noted an 84% increase year-to-date, punctuated by string ofrecent, solid news updates that has kept the name fresh amongheadlines that traders are following. Over the past month alone, thisstock has risen 39.6%.
This well has the potential to take Lithium Chile froma pure exploration play to a producing story over the next 90days. Now that the company has made a move intoArgentina and is already seeing success with its drilling program,investors would be wise to deepen their due diligence into what thisoperation has to offer before its share price climbs higher.
For the latest updates on this Company, visit lithiumchile.com .
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