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Lithium Chile Inc
Symbol LITH
Shares Issued 139,462,359
Close 2021-12-08 C$ 0.75
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ORIGINAL: Lithium Chile Completes Reconaissance Exploration Program on Apolo and Sancarron Gold-Siver Properties In Chile (TSXV:LITH) (OTCBB:LTMCF)

2021-12-09 11:21 ET - News Release

(via TheNewswire)



CALGARY, ALBERTA – TheNewswire - December 9, 2021 – Lithium Chile Inc. (“ Lithium Chile ” or the “ Company ”) (TSXV:LITH) (OTC:LTMCF) is pleased to announce it 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 born 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 multi-million ounce El Indio (20 km south) and Pasqua Llama (35 km 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 is 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 (“ Shares ”) pursuant to a consulting agreement (the “ Agreement ”) entered into with a third party (the “ Provider ”) 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 $0.34 per Share, and issued 105,882 Shares at a deemed price per share of $0.34 per Share on August 9, 2021 and 69,231 Shares at a deemed price of $0.52 per Share on December 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 1 property of 23,300 hectares in Argentina.

Lithium Chile also owns 5 properties, totaling 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 mega porphyry gold/ silver/copper belt.

Lithium Chile’s common shares are listed on the TSX-V under the symbol “ LITH ” and on the OTC-BB under the symbol “ LTMCF ”.

To find out more about Lithium Chile Inc., please contact Steven Cochrane, President and CEO via email: steve@lithiumchile.ca or alternately, Jose de Castro Alem, Argentina Manager via email jdecastroalem@gmail.com   

 

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

 

Forward Looking Statements

 

This news release may contain certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "expected", "anticipated", "aims to", "plans to" or "intends to" or variations of such words and phrases or statements that certain actions, events or results "will" occur. In particular, this news release contains forward-looking statements relating to, among other things:  the Company's ability to obtain necessary approvals from the TSX Venture Exchange and the timing and assay results from the sample program. Such forward-looking statements are based on various assumptions and factors that may prove to be incorrect, including, but not limited to, factors and assumptions with respect to: the general stability of the economic and political environment in which the Company operates; the timely receipt of required regulatory approvals; the ability of the Company to obtain future financing on acceptable terms; currency, exchange and interest rates; operating costs; the success the Company will have in exploring its prospects and the results from such prospects. You are cautioned that the foregoing list of material factors and assumptions is not exhaustive. Although the Company believes that the assumptions and factors on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct or that any of the events anticipated by such forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive there from. Actual results could differ materially from those currently anticipated due to a number of factors and risks including, but not limited to: fluctuations in market conditions, including securities markets; economic factors; the risk that the new lithium exploration tender process does not yield the anticipated benefits to the Company, if at all; the risk that the Offering will not be completed as anticipated or at all, including the risk that the Company will not receive the approvals necessary in connection with the Offering; and the impact of general economic conditions and the COVID-19 pandemic. The Company does not undertake to update any forward-looking statements herein, except as required by applicable securities laws. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

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