06:56:48 EDT Mon 03 Oct 2022
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save
Lithium Chile Inc
Symbol LITH
Shares Issued 139,462,359
Close 2021-08-25 C$ 0.36
Recent Sedar Documents

Lithium Chile begins test drilling at Arizaro

2021-08-25 09:25 ET - News Release

Mr. Steve Cochrane reports

LITHIUM CHILE SIGNS DEFINITIVE AGREEMENT AND BEGINS DRILL PROGRAM ON IT'S PRODUCTION TEST WELL ON THE ARIZARO PROPERTY IN ARGENTINA; ON TRACK AND AHEAD OF SCHEDULE

Lithium Chile Inc.'s planned production test well began drilling on its Arizaro property in Salta province, Argentina, on Aug. 23.

Steve Cochrane, president and chief executive officer of Lithium Chile, commented: "I am extremely pleased at the speed with which our Argentinian management team has been able to plan and execute on our Arizaro production test well. They have assembled a group of service providers that are regarded as the best in Salta province and I am confident they will bring this project in successfully on time and on budget. Given the immense size and potential of the Arizaro prospect this is truly a game-changing opportunity for Lithium Chile."

Highlights

  • Arizaro property secured: definitive agreement to acquire 60-per-cent interest in Arizaro property has now been executed and Lithium Chile's wholly owned Argentinian subsidiary, Argentum Lithium -- legally incorporated and registered;
  • Indigenous community approval: Production test program approved and supported by the indigenous community of Tolar Grande;
  • Infrastructure construction under way: SMG Group hired to build access road and drill pad for production well, 17-kilometre access road completed;
  • Drilling rig ready to start: Drilling contractor Andina Perforaciones has been contracted to work on the Arizaro property and is currently mobilizing the drill rig;
  • Pandemic not affecting timetable -- the timetable is currently unaffected by COVID restrictions.

Road and infrastructure construction commenced on the Aug. 9, 2021, and was completed on Aug. 20. Seventeen kilometres of road and drill pad have been completed, fuel tanks have been set up and brine pits have been dug. The production test well drilling will commence the week of Aug. 23, 2021.

The initial production test well will be drilled to a depth of 500 metres and is anticipated to take 60 days to complete. Geophysics show that the target brine aquifer identified by the prior exploration well is between 300 and 500 metres deep. Samples are planned for every 50 metres. After the production well is completed a downhole pump will be installed and a planned 30-day pump test is planned. This pump test is designed to provide data on flow rates, recharge capacity and lithium grade of the brine produced. The data collected will determine the commercial potential of the lithium prospect.

About Lithium Chile Inc.

Lithium Chile is advancing a lithium property portfolio consisting of 68,000 hectares covering sections of 12 lithium prospective Salars in Chile, and now 23,300 hectares in Argentina. A metallurgical sample program has just been completed on Salar de Laguna Blanca with assays pending.

Lithium Chile also owns five properties, totalling 22,429 hectares, that are prospective for gold, silver and copper. Exploration efforts are continuing on Lithium Chile's Carmona gold/silver/copper property which lies in the heart of the Chilean megaporphyry gold/silver/copper belt.

We seek Safe Harbor.

© 2022 Canjex Publishing Ltd. All rights reserved.