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Lithium Chile Inc
Symbol LITH
Shares Issued 139,462,359
Close 2021-11-29 C$ 0.85
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Lithium Chile installs well casings, filters at Arizaro

2021-11-29 12:05 ET - News Release

Mr. Steve Cochrane reports

LITHIUM CHILE ANNOUNCES WELL CASING COMPLETED AND COMMENCEMENT OF PHASE 2 - THE PUMP TEST AND SAMPLING PROGRAM - AT SALAR DE ARIZARO IN SALTA, ARGENTINA

Lithium Chile Inc. has noted the arrival and completion of the new casing and filter installation, which completes the production test well preparation on its 23,300-hectare Salar de Arizaro property in Salta, Argentina. The Arizaro prospect is a potentially transformational project for Lithium Chile. The earlier exploration hole, located 100 metres east of the production test well, returned average lithium grades of 850 milligrams per litre over six separate samples (see Lithium Chile's press release May 17, 2021). The current production test is designed to obtain confirmation of those grades and to establish commerciality of the property for lithium production.

Lithium Chile now moves into phase 2 -- consisting of well cleanup and commencement of the pump test and sampling program.

Steve Cochrane, chief executive officer of Lithium Chile, commented: "We are delighted with the excellent progress being made on our Arizaro property. The installation of the new casings went extremely smoothly and I would like to take this opportunity to thank all our contractors and service providers in Argentina for their excellent work. Bringing this stage of the project in on time, on budget and without any safety or environmental incidents is a testament to their professionalism and care of the environment. We now move into phase 2 -- easily the most exciting phase of the program."

Arizaro production test well moves into phase 2

  • The new well casings and filters arrived on schedule at the Arizaro property on Nov. 17, 2021, and work commenced immediately to install them. This work has now been completed and the pump test phase has commenced.
  • Phase 2 of the Arizaro property testing involves flushing of the 120-metre clastic zone to remove drilling mud contamination to allow for accurate sampling of the zone.
  • Immediately thereafter, the pump test and sampling will commence. This is expected to take three weeks to complete, at which time the collected samples will be sent to be assayed.
  • Results are expected to be received in the second half of December.
  • On Nov. 26, a meeting was held in the aboriginal town of Tolar Grande with the town's indigenous leaders, the Secretary of Mining for Salta Province (Flavia Royon), representatives of Argentum Lithium (the wholly owned Argentinian subsidiary of Lithium Chile), the Galli Group, SMG and the company's drilling contractor Andina Perforaciones. This meeting was organized to recognize the excellent ESG (environmental, social and governance) work continuing on the company's drill program at Arizaro and to confirm Lithium Chile's continuing commitment to inclusion and mutual respect while working with local communities.

Warrant exercise

Lithium Chile is also pleased to announce the exercise of 442,117 warrants during the past week, resulting in net proceeds of $171,312.76.

Qualified person

The technical information contained in this news release has been reviewed and approved by Gabriel Paganini, mining engineer, a qualified person registered in AusIMM under licence 317013 within the meaning of JORC 2012.

About Lithium Chile Inc.

Lithium Chile is advancing a lithium property portfolio consisting of 69,200 hectares covering sections of 10 salars and two laguna complexes in Chile and 23,300 hectares in Argentina.

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.

Lithium Chile's common shares are listed on the TSX Venture Exchange under the symbol LITH and on the OTC-BB under the symbol LTMCF.

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