Lithium Chile's Laguna Blanca Lithium-Cesium Anomaly Doubles in Size with High Grades Up To 1,450 mg/l Lithium and 698 ppm Cesium

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(TheNewswire)



CALGARY, ALBERTA – TheNewswire - JUNE 02, 2021 – Lithium Chile Inc. (“Lithium Chile” or the “Company”) (TSXV:LITH) (OTC:LTMCF) is pleased to announce that results from its recently completed extension to its prior auger sampling program on Salar de Laguna Blanca has doubled the size of the lithium-cesium anomaly from 4 sq km to 8.8 sq km. The anomaly is still open to the northeast, east and south.  The initial TEM geophysical survey that discovered the conductive anomaly also shows it to be between 100 and 200 meters thick indicating the potential to significantly increase the size of this target.

HIGHLIGHTS

  • - 8.8 sq km lithium-cesium surface sediment anomaly outlined;

    - Lithium sediment grades up to 1450 mg/l and Cesium grades up to 698 ppm;

    - 3.8 sq km high grade core averaging 900 mg/l lithium and 335 ppm cesium;

    - Surface brine samples from anomaly core grading up to 1230 mg/l lithium;

    - 40-liter bulk surface water sample sent to Summit Nanotech for extraction tests.

The results from the second phase exploration program on the Company’s Laguna Blanca prospect continues to point to a large mineral occurrence containing two valuable commodities - lithium and cesium.  There are strong indications of both elements in the surface sediment samples as well as the potential for both minerals in the deeper brine targets. It is the company’s intention to look at a sampling program to test deeper zone over the existing anomaly as well as continue to extend its aerial extent.


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Steve Cochrane, President and CEO of Lithium Chile commented, “We are excited by the latest results from our Laguna Blanca exploration program. The presence of two highly valued commodities on the property make this a priority project for Lithium Chile. The combination of the two minerals has attracted numerous inquiries from outside parties reinforcing the potential of this project.”

Qualified Person

Mr. Terence Walker, M.Sc., P.Geo., qualified person within the meaning of National Instrument 43-101, has reviewed the contents of this news release. During the course of the exploration program, all samples were collected by experienced Lithium Chile staff. Each salt and sediment sample consisted of 1 -1.5 kg of unconsolidated material taken from 0.5 - 1.2m deep holes using a hand-held auger that were bagged and sealed on site. All samples were delivered by Lithium Chile’s staff to the ALS prep-lab in La Serena for processing. ALS subsequently shipped a 30g subsample to their laboratory in Lima, Peru where they were analyzed for 51 elements, including 2 lithium and cesium, by the ICP-MS technique following Agua Regia digestion. Over limit (>500ppm Cs) sample were re-run using the ICP-MS81 technique following lithium borate fusion.

About Lithium Chile

Lithium Chile is advancing a lithium property portfolio consisting of 71,900 hectares covering sections of 10 salars and two laguna complexes in Chile and now, 23,300 hectares in Argentina.

Lithium Chile also owns 5 properties 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: [email protected] or alternately, Terry Walker VP Exploration email [email protected]  

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.

 

NOT FOR RELEASE IN THE UNITED STATES OF AMERICA

 

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.

 

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 news release are expressly qualified by this cautionary statement.

 

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