An anonymous director reports
LITHIUM CHILE COMPLETES RECONAISSANCE EXPLORATION PROGRAM ON APOLO AND SANCARRON GOLD-SIVER PROPERTIES IN CHILE
Lithium Chile Inc. has completed an exploration program on its Apolo and Sancarron properties in the El Indio gold and silver belt in Chile. This is the first exploration program ever conducted on these two prospects by Lithium Chile. The program involves a helicopter-borne reconnaissance and sample program on four of the numerous alteration zones on the properties. The samples collected have been delivered to the ALS laboratory in La Serena, Chile, for assaying. The program was designed to access the potentiality of both properties for high-grade vein and disseminated gold-silver deposits such as the multimillion-ounce El Indio (20 kilometres south) and Pasqua Llama (35 kilometres north) deposits. It is Lithium Chile's intent to seek a joint venture partner to move both projects forward and the data collected from this initial program are designed to facilitate that process. The Apolo/Sancarron properties cover an area of 5,229 hectares in total.
Lithium Chile also
announces that, further to its news release dated May 13, 2021, it has completed the issuance of common shares of the company pursuant to a consulting agreement entered into with a third party for the purposes of providing the company with a social media presence. The company previously announced the issuance of 211,764 shares at a deemed price of 34 cents per share, and issued 105,882 shares at a deemed price per share of 34 cents per share on Aug. 9, 2021, and 69,231 shares at a deemed price of 52 cents per share on Dec. 6, 2021. All of the shares issuable pursuant to the agreement have now been issued and the debt has been extinguished.
Completion of the agreement is subject to regulatory approval including, but not limited to, the approval of the TSX Venture Exchange. The securities issued pursuant to the agreement are subject to a four-month hold period from the date of issuance.
About Lithium Chile
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 one property of 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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