TSX Venture Exchange:
LITH
OTC-QB: LTMCF
CALGARY, April 23, 2019 /CNW/ - Lithium Chile Inc.
("Lithium Chile" or the "Company") is pleased to announce that
it has received community approval for the planned exploration
program on its Salar de Coipasa property in Chile. This is the third community in
Chile's lithium-rich salars to
approve the Company's exploration activities, following approval by
the communities at the Company's Ollague and Turi properties.
Having obtained approval for exploration at this third property
establishes Lithium Chile as a clear leader amongst Chilean lithium
exploration companies in the ability to work constructively with
local communities and successfully gaining their support.
At the end of March 2019, the
Indigenous Community Aymara of Ancovinto, owner of the surface
rights where the Company's Salar de Coipasa project is located,
approved the exploration program with a large majority. This stage
of consultation, as mandated by Chilean laws and International
conventions for respecting indigenous communities, customs and the
environment, is now complete. The approval expresses the
support of the community and its confidence in the Lithium Chile
team to carry out the program in a manner that respects the
inhabitants of the area and their ancestral way of life.
Geophysics has already been completed on the company's 129
km2 Salar de Coipasa property revealing a highly
conductive anomaly covering over 65% of the property. Currently,
the Company's management is working collaboratively with local
community representatives on optimising drill hole locations to
minimise surface impact.
Steven Cochrane President and CEO
comments "We are delighted to have received the support from the
Ancovinto Community of Coipasa to advance this project and are very
encouraged by the continued success of our Chilean team in
developing productive relationships with local communities. This
particular property is one of our most exciting exploration
projects and we look forward to the upcoming exploration program.
The potential in Salar de Coipasa has become increasingly
clear following the recent US$1.3
billion investment by Chinese company, Xinjiang TBEA Group,
to earn a 49% interest in the Bolivian side of the same
salar."
About Lithium Chile
Lithium Chile is advancing a
lithium property portfolio consisting of 164,250 hectares covering
sections of 14 salars and 1 laguna complex in Chile.
Lithium Chile's common shares
are listed on the TSX-V under the symbol "LITH" and on the
OTC-QB under the symbol "LTMCF".
On Behalf of the Board of Directors,
LITHIUM CHILE INC.
Steven Cochrane
President & CEO
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 information can be
identified by the use of forward-looking terminology such as
"expects", "believes", "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, management of the Company's views regarding current
and subsequent exploration programs and approvals
thereon.
You are cautioned that the following list of material factors
and assumptions is not exhaustive. Specific material factors
and assumptions include, but are not limited to: the general
stability of the economic and political environment in which the
Company operates; the timely receipt of required regulatory and
local community 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. Accordingly, readers should not place undue
reliance on forward-looking statements. 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 press release are
expressly qualified by this cautionary statement.
SOURCE Lithium Chile Inc.