TSX Venture Exchange: LITH
OTC-QB: LTMCF
CALGARY, April 30, 2019 /CNW/ - Lithium Chile Inc.
("Lithium Chile" or the "Company") is pleased to announce
positive results from an extended TEM geophysical survey on its
Salar de Turi property. New data indicates that the highly
conductive anomaly identified in earlier surveys is: wider
and thicker, continues to the northeast along the salar basin axis
and extends beyond the Company's earlier property boundary. As a
direct result, the Company has staked an additional 22 claims
totaling 5,400 hectares to cover the anomaly extension, which now
covers at least 63 Km2.
News Highlights
- Extended TEM survey has encountered a large addition to a
highly-conductive anomaly on the Turi project
- Additional 5,400 hectares has been staked to cover the newly
identified anomaly extension
- Community approval is already in place for a 3 hole drill
program
Analysis of previous water well drilling in the local area
indicates that one of these wells appears to have penetrated the
top 20 metres of the main TEM anomaly and encountered saline brines
in a coarse sand and gravel aquifer.
Lithium Chile has an access
agreement in place with the Indigenous Community of Turi for an
exploration program that includes three exploration drill holes.
The Company has determined favorable locations for its upcoming
drill program and is working collaboratively with community
representatives to ensure access and environmental considerations
are met. At 13,000 hectares, Salar de Turi is now the third largest
property in Lithium Chile's Andean and Pre-Andean Salar belt
portfolio.
Terry Walker, Vice President of
Exploration for Lithium Chile, commented, "The expansion in both
size and quality of the main TEM anomaly boosts our confidence in
the quality and potential asset value of the Turi property. It also
supports Management's belief that our Turi property has potential
to host large lithium brine resources."
Steven Cochrane, President and
CEO for Lithium Chile, said, "We are extremely pleased with the
results from our geophysical program on Salar de Turi as we now
have a very large and highly-prospective target to drill. This
also means that, along with the recently-announced Coipasa project
activity, the Company can now proceed with two active field
exploration programs."
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 the current and
subsequent drilling programs.
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
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.